When I first came across popbizop.com my instinctive scam sensor was in the red. The first page I came to had a video that boasted of all the money you can make, and it is all no risk.
The man in the video even went as far as login in to his bank accounts and showing millions of dollars in total, all that he made in just 7 months!
I was pretty much certain it was a scam from the start, but you can’t judge a book by its cover, right? So I decided to look into it and see how it works.
How it Works… Oh No
Not again! Its another binary options trading software. This is starting to become more and more common.
For those of you who don’t know, this is short summary of how binary options trading works. All you have to do is guess whether an asset price (in this case the stock price) is going to rise or fall within the next predetermined amount of time (very short), depending on when the options expire. It doesn’t matter if they rise or fall, all that matters is whether you chose the correct answer. If you did, you get paid a certain percentage of the amount you bet.
At PopBizOp they offer to give you access to their software that automates binary options trading. The software is said to gather information from all other traders and come up with the popular choice. So if the majority of people are betting that the stock price will fall, it will give you that information. It leverages the decisions of thousands of investors to come up with the answer. Then all you have to do is click rise or fall, based on what the software tells you.
So basically you are clicking on of 2 buttons (up or down) and making money in minutes. They claim that their software is able to predict the winner 98% of the time!
Can you trust this automated binary options trading software?
HECK NO!, This is such a ridiculous claim made by PopBizOp. Winning your options 98% of the time. Are you kidding me?
Binary options trading is absolutely a legitimate way to make money, but it is extremely difficult to do. Professionals that make their money this way spend their life researching the various markets to influence their opinions of whether a price is going to rise or fall. And they sure as heck don’t rely on automated software to do the guessing.
Can you trust PopBizOp?
Well to start, according to ScamAdvisor it is a France based website that has been around for just over 2 years.
Since it is outside of the US the FTC (Federal Trade Commission) cannot regulate its activity. So it literally can do whatever it wants.
When it comes to binary options trading it is very important that you trade through a trustworthy source.
Now PopBizOp supposedly offers the trading software. But they still need a broker to trade through. The broker will be the one that actually takes your money and places the trade.
So here is how it should work: You use PopBizOp’s software to determine what bet to place. You place a bet for a certain amount of money. This money then goes through a broker before it is actually placed on the bet.
So it is very important that PopBizOp’s broker is credible, or they could steal your money.
What Broker Does PopBizOp Use?
Honestly, I could not find the answer to this. I’ve searched online for hours trying to find what broker PopBizOp uses and can’t find a thing.
I was hoping to find a non-registered unlicensed broker to add to the fact that this is a scam. But not finding a broker adds to my argument just as much. Why? Because this is such in important part of the whole binary options trading that I should have been able to find at lease SOME information somewhere, but I couldn’t.
My guess is that they probably don’t even use a broker. And if they do they definitely are not licensed. Because if they were to have a licensed broker it would be in there best interest to let people know that they do. This would build trust and credibility.
So is it a Scam or Not?
I personally have not put my money on the line by using their software and don’t plan to, so I cannot say from first hand experience. But the amount of red flags that pop up when hearing PopBizOp’s claims is a lot.
Just think about it. They are saying you can earn $500 a day or more guaranteed, risk free, and they are offering their software to you for FREE! How much sense does that make? None. If there were software out there like this that could win every time, it would not be free. It would be an amazing achievement and would be expensive.
This is my guess of what would happen when you sign up
You would sign up for free, create your account, and have access to their binary options trading software, all for free. Then in order to make your first bet, you would have to deposit some of YOUR REAL MONEY.
Soon after that you would find yourself losing bets and having no way of getting your money back. Your money would now be PopBizOp’s money.
Why do I think this would happen?
Because this isn’t the first binary options trading robot software I have came across that promises risk free, big money making opportunities. Read my FastCash.biz review, which is the same type of scam, if you want to see another example.
This opportunity is MUCH too good to be true. It just DOESN’T make sense.
Binary options trading is a legitimate way to make money online. But just not with PopBizOp.