Private Profits Club Review: Yet another binary options Automated Trading Software has been released and the creators are all over the place (including in our emails) claiming that it is what we’ve all been waiting for to become part of the 1%. Suffice to say, Private Profits Club has some quite catchy tag lines and surreal promises although sadly, but not surprisingly, not the best of reputations. We have seen hundreds of auto traders and Binary Options Signals sold in a similar manner – promises, the hype, et al. Sadly, more times than not, most of these are frauds and happen to attract the new, less experienced traders who are the easy prey when they don’t recognize proper Binary Options Brokers from frauds. However, all the hype fizzles out and turns into hate when it is discovered that they are just scams design to con people off their money.
In the case of Private Profits Club, we did some digging up and we thought it cool – and noble – share our findings with you. Hopefully, this will help you avoid this and other scams in future. The good thing is, all scams are packaged and advertised in more or less the same manner, which means you only need to know what signs and/or features to look for and you’re good. How ever if you want to try legit Binary Option Robot like option robot check out our review or go straight to the site from button below. Same applies one of the best brokers IQ Option as we have found that reliable.
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Private Profits Club, as the name indicates, is a “highly private” binary options auto trader that is able to give premium returns to its members. It is also known as Chrono Trader, whatever that means, when the management cannot rely on the premium membership front to make sales. As with similar sites, Private Profits Club mainly employs the video marketing strategy with, of course, the alleged developer acting as presenter. Talking of developer, he gives his name as Mark Adler which we highly doubt and as we will show you later on, is an assumed identity. Or rather, a fabricated one.
Private Profits Club is not located in any country that we know of. Probably, the management was too focused on coming up with exaggerated marketing ideas to give more insight to that but it’s not like we expected it, considering the kind of feedback we had received prior to doing the analysis. That said, Americans are barred from signing up and doing business with Private Profits Club due to some legal bottlenecks but we are pretty sure the site is not beyond using underhand and illegal IP manipulation methods to gain access to the world’s biggest economy. In the sales video, which you can view on Privateprivateclub webpage and also on YouTube, Mark Adler does make some huge promises, while posing as a millionaire but only managing to look like a downtown electronic salesman. It is actually surprising that some people actually took him on his word. But then again, we can’t really fault newbie traders whose lack of experience and thirst for fast profits may cloud their judgment.
Web Based Software
The Chrono Trader is a fully online software that doesn’t require any downloads and can be accessed through PC, tablets and smartphone platforms. Being a Web based software, Private Profits Club supports all kinds of devices types, from Windows to Linux to Android and even iPhone and is simply a login-and-trade thing. Note that when it comes to phones and tablets, the site is only accessible to select browsers, probably the most recent versions. Also, it is advisable that with any online trading platforms where financial and/or personal information is involved, much care is taken to ensure the absolute privacy and security of the information. This includes setting passwords that include uppercase letters, numbers and symbols and only using browsers with trusted security certificates. In addition, clearing your cache and logging out when you are done, especially if your phone or PC is accessible to another person, is also good.
How Much Does it Cost?
Well, on paper, Chrono Trader/Private Profits Club software is available for free, which is a common thing with most auto traders. However, to actually start trading and making profits (or in this case, losses) you need to have about $280-$300 in your bank or credit account, depending on your location. This will cover the required $250 initial deposit to your trading account and all the bank charges, currency conversion fees and any other charges that might occur. Of course Mark Adler will tell you to deposit more so that you can earn more and we’ll be sad if you believe him, and we’ll tell you why you shouldn’t as we go on.
So everything considered, Private Profits Club is a free software, but not really free since you have to incur some charges not to mention unnecessary losses which will deplete your account even before you get to know how the whole thing works. And by the way, ‘Private Profits Club’ sounds more like an underworld business cult than a trading software than a money minting software.
Mark Adler, in what we can only term as an insult to our collective intelligence, claims that you stand to earn $250 within 60 minutes of signing up. On top of that, he guarantees you “hundreds of thousands of dollars” every month, and, listen to this, he is willing to pay up to $10,000 from his own pocket in the event that these results are not realized. Take a moment to let that sink in then exhale it – and even spit it out – like you would some disgusting food. And when you’re done remember the saying you heard in 4th grade that not all that glitters is gold. What’s that thing they say about things sounding too good to be true again?
On a serious note, we don’t really trust sites that make such promises. In fact, whenever you see such, just know that you’re dealing with a scam and that you are better off wagering your $250 in a casino. At least then you would be sure to at least make a few wins that will make up for the losses. Before we are accused of being bitter pessimists, try to imagine if indeed all this hogwash was true. The kind of sensation that Private Profits Club would be right now,everyone wanting to be a member to get a share of the profits. If it was true, Mark Adler would be all over the mainstream media, doing interview after interview and he would even have an actual social media profile. But it’s not, that’s why they have to send spam mail to everyone and their mother and most importantly, the reason they have to keep repeating exaggerated figures every two sentences. Because, let’s be honest, good brands don’t require too much marketing while the cheaper,low quality ones are all over the place.
Mark Adler claims that Private Profits Club was developed based on years of market knowledge and experience and has a guaranteed accuracy of 90%. This makes it to be one of the most accurate trading systems around. On paper. The reality is, Private Profits Club is a fraud and if indeed its accuracy was this high, it would be pretty well known, and popular, right now. In fact, a lot of people would be aware of its existence and we would certainly not need to do a review on it, as the positive client reviews would be enough selling points. But alas, for such an affective software, that apparently has the ability to make millionaires out of inexperienced newbies, Private Profits is almost lost in the sea of brilliant bots.
Again, we would have liked to see more information on how the bot gets its signals and the trading methods used to get such a hit rate. We would also want to see verified account of all trades executed in the recent past and their outcomes. That way, we would be in a better position to determine, in a clear manner, the average hit rate. In that scenario, the site wouldn’t even need to spend a dime on advertising, we, and a lot of other people, would do the advertising for them by giving them positive ratings and throwing words of praise therein. Unfortunately, we didn’t get any of that, which leads us to believe that Mark Adler is just a bored, broke person who is out to capitalize on the well documented human ignorance.
Private Profits Club Suspicious
Admittedly, there’s nothing in the world that doesn’t have a bright side to it, including venomous snakes. In this case, Private Profits Club has one or two good things going on, despite having a lot of red flags on its face. Now, as much as the entire website was clogged with exaggerations, contradictions and big, fat, thick, stinking lies, we tried our best to be objective and find the elusive bright side of it all. And, ladies and gentlemen, here’s the reasons that might make you join Private Profits Club:
If you just won the lottery and $300 is nothing to you. Although we suggest donating it to charity.
It’s actually a great place to test and learn the tricks used by binary bots developers.
It’s 100% web based. No downloads, yay!
Well, it’s free of charge, let’s have a toast!
And here, folks, is why you should not only stay away from the scam with a cultist name, but also spit when you hear the name:
Mark Swindler – In case you didn’t know, none of these fellows posing as bot developers actually give their real names. Which is why, while Mark Adler claims to be a rich trader, no record of his achievements is available online. There’s no Facebook account with his picture and story on it, not to mention Twitter and LinkedIn. Matter of fact, all we saw about Mark Adler has to do with Private Profits Club – no past projects – and it’s not even something worth talking about in the first place. Well try searching for him on Fiverr, and probably get him to read a script saying he’s a crook, for $5.
Public Complaints – Let’s just say that we are shocked by the amount of complaints we came through. People were complaining of all kinds of things, from having their accounts depleted in a matter of hours to not being able to make withdrawals and even to the rude and in some cases, non-existent customer care. We don’t have anything to add on that.
$250 in 60 minutes? – If that was meant to be a joke then it’s a lame one. For one, it’s impossible in binary options to make that much in so little time, with a $250 deposit. Two, we have already poked holes through the alleged accuracy of the bot, which is means that you are more likely to lose your $250 in 60 minutes, than earn $50 in a day.
False testimonials – This is something we’ve dealt with before and it’s honestly past its time. Frauds should come up with a newer method of trying to fool us, and who knows, we might just get into the trap. If, right now, you go to Fiverr’s testimonials section, you will find a lot of people who sell spokesperson services for as little as $10 for 100 words. If you look closely, you will note the black dude with a white shirt found on Private Profits Club page advertising his services. On the screenshots paraded all over the site to show how people got rich, we hope you are aware that those can be created using generating apps which are free on Google Play Store.
Do we think Private Profits Club is a scam? We say: There’s no logical reason to believe otherwise. All the evidence we have indicates that Private Profits Club is a scam and a threat to your bank account. We strongly advise you to not get swayed and run away from it, and similar bots. Nonetheless, you can try out the critically acclaimed Option Robot software, which is arguably the most successful both in terms of returns and client numbers. In addition, Option Robot links you with the top regulated brokers to ensure that your money is always safe, and accessible at all times.
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Michael Allen is the main author at www.binaryoptionrobotinfo.com. He holds a PhD in Economics and has worked in investment banking for 24 years.
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