When you step in the world of trading, you discover a lot more than you expect. First off, you are not going to run into legitimate businesses all the time. There are good guys and bad guys everywhere, but it seems that the bad guys like to frequent this world too often. You will find scams every step of the way. For that reason, you have to careful as a new trader when you are about to start your trading career. You don’t want to step into the trap of an online scam and end up losing whatever money you had saved for XTRgatescam trading.
So, among many other scams on the internet, you have the Trading Compass scam. In this particular scam, you are asked to trade options, which is more like binary trading. In this type of trading, you either make a lot of money or nothing at all. You are making a certain prediction on a particular asset and if that prediction holds true, you make profits. If it does not hold true, you do not make any money. Millions have lost their hard earned cash in this type of trading. However, you do have to keep in mind that options trading is not a scam per se. It is only the so-called brokers that claim to help you trade and rob you out of your money who are scams.
So, what about Trading Compass scam? Is it even a scam? Let’s find out in this detailed review.
Trading Compass Scam – Detailed and Honest Review
It Is about Trading Options
So, the first thing you have to know about this particular trading platform or software is that it involves options trading. Do keep in mind that there are many other types of trading as well. You can trade straight stocks and forex currency pairs, or choose to go with CFD or ETF trading if you do not want to own the assets. In a similar way, you have binary trading, in which you do not own any asset. You just predict the movement of the price and make money from it if you are right. That’s what you are going to be doing when you sign up with Trading Compass.
It is important to mention at this point that it is not an online broker. Instead, Trading Compass is just a software that you are going to be using to trade options. In many cases, you have people trying to scam you out of your money by being online brokers. They ask you to open an account with them, and as soon as you deposit funds in your account, your money is gone forever. You just cannot get it back because the scam broker makes you agree to things that is more like you saying, “I relinquish my rights to sue the person who is robbing me of my money.”
It Is a Long Route for No Reason
Trading Compass scam is very similar to any other online software scams that are available in abundance these days. So, the idea is that the software developer claims to have developed something out of the world. The software is going to the trading on your behalf and you just have to count the number of dollars that fall in your account every day. The developer claims that he/she was fired by someone from a company and he/she started working on their software out of revenge. Later on, they realized they created a miracle.
However, when you look at the whole thing and how it works, you realize that you are being made to walk on a long path to get to something which is at an arm’s distance from you. So, when you choose to sign up, you are made to think that there is no money for you to pay. But how can you start trading if you are not going spend any money? You can’t put your passion and zeal for trading in financial markets. Well, the reality is that you have to spend money to sign up and start trading even if you are using Trading Compass software.
So, if you see any claims from the software makers that you will not have to spend any money, just keep in mind that you will not have to spend any money to provide your personal information to sign up on the software. Signup is almost always free no matter which broker you sign up with. The money part comes when you want to trade. You can’t trade with anyone else’s money. It is your money that you have to put on the line, and that’s exactly what you have to do when you sign up with Trading Compass scam. You have to deposit at least $250 in your account that you will be using for trading.
And do you know what the funniest part is? Well, the software will not be doing anything special for you. When you sign up with $250, you actually put that money in a trading account with a broker. Technically, you are signing up with an online broker. The software might have chosen the broker for you already or may ask you to choose one at the time of sign up. Well, if that’s what the software was all about, couldn’t you have signed up with a broker on your own? Go figure that one out.
It Likes to be Different to be the Same
The inventors of this scam thought they would do something unique. For that reason, you are not welcomed with what’s common in the scamming industry. Usually, when you are being pitched by a scam software or trading platform, you see a video. Underneath the video, they usually like to claim that it would be taken down in no time so you should take action as soon as possible. At the same time, as soon as you land on the website, you are bombarded with annoying advertisements that have nothing to do with your interests. They are just there for everyone who lands on the website.
Secondly, you always see that the video revolves around making people feel desperate about their financial conditions and then showing them a dream of becoming rich. The video usually involves a lot of visuals of expensive and expansive mansions, exotic cars, and a person spending vacations at some blue beach in some unknown corner of the world. Later, the scammers throw some fake bank statements and happy faces with large checks in their hands at you. At the end of the day, it is all programming of the mind. If they are successful, you end up spending your money for something that does not exist.
Surprisingly, none of what you read in the previous passage is a part of the Trading Compass scam. This scam tried to be different. Now, one has to be doubtful if it was intentional or the scammers were too lazy to spend time on editing videos, creating photoshopped images, etc. We believe the latter is true because when you have signed up, you do get some bank statements that show that some anonymous person made millions of dollars. You never get to know about that anonymous person, and more importantly, you never get to know if that person ever used the Trading Compass. In short, everything seems fake, lousy, and unbelievable.
The Claims Are Ridiculous
Imagine yourself proposing to your crush for the first time and your crush being a very practical and serious person. How do you think a proposal that consists, “I’ll bring the stars for you,” going to sound? Well, this scam has made that exact mistake. If you are someone grown up who has seen the world enough to know its good and bad side, you will be laughing hard on the claims made by the software makers. So, the first thing you will know is that the software will trade on your behalf. Yes, you do nothing and the software makes you money.
It is shocking that the creators of the software did not just keep the software to themselves and become billionaires with it. There is a manual trading option on the software as well. However, if you choose that option, you have completely missed the mark. What is the purpose of signing up with a software that claims to make you money and trading on your own? If you want to trade on your own to make money, why not sign up with some other reputable online broker? If you let the software do the work, things are even worse.
You are letting some unknown software take care of your money. In other words, if you lose all your money, who are you going to sue? A software? Good luck with that!
And if you think you are going to sue the person who created the software, let us ask you this, who created the software? Do you know that person? Do you know if that person is real? You can shoot all your arrows in the dark, but when the lights turn on, you will have left some marks on the walls only because there was none there from the very beginning.
And here’s the claim that’s going to make you fall out of your chair laughing – the software claims that it can predict 100% of the trades correctly.
The world has seen enough of “you will be a millionaire in a week”, “you can make thousands of dollars in one day” stuff by now. Trading Compass scam is just another addition to your run of the mill online scams that make young minds and financially desperate people spend their last pennies. If you want to make money, pick a legitimate, proven, and reliable online broker and start making money with your own efforts.