PumpTrades Review: The binary option robot market is flooded with automated software and signal service providers, and every now and then it has seen additions. Our endeavor always has been to provide a complete guide about each of the software providers and binary brokers available. We scan these service providers on our stringent parameters to give you an honest and guiding advice for your journey and offer the best trading guide.
Recently, we have been asked by one of our readers to conduct a review of a new software which makes tall claims. The software we are reviewing today is the Pump Traders Software and the following text describes the full details of various aspect of the software.
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The first and foremost aspect which we believe is fundamentally important for the existence of any organization is to be backed by a strong promoter, group, or a company. Our research on the Pump Trade Software revealed that the promoters of the software or the developer company are really unknown. The only thing mentioned on their website is that the website’s copyrights are owned by the WP Profit Builder. The website claims that Alex Stewarts is the founder and CEO of the Pump Trades Software. Our research on the various social networking site and on the internet has resulted without any information.
As indicated in many of our articles, this is a clear warning signal. As there is no information about the promoters there is no question about the registration details. It creates a doubt and adds to it. We further investigated the software service provider to come to a conclusion.
We checked the website of the Pump Trades to gain further knowledge about the service. The website is built with a black and white theme. It’s a simple website which boasts about the success of the software. Alex Stewart indicates through the website that he uses a secret formula to give 92.5 percent success ratio and the members can make over $ 155,000 in just 2 months. The website also indicates that the app is currently available at no cost and will have a price tag of $ 2,990 in near future. As with the other software, the customer needs to register on the website of the Pump Trades and then select a broker from their list of brokerage houses. One need to make a minimum deposit of $ 250 on the brokerage website to get started and utilize the services of the Pump Trades.
The website indicates that the software is most advanced and it uses some secret formula to provide fast, smart, and the most accurate results. It claims that the algorithm is state of the art and assess the market in real-time to provide the most accurate trading decisions. The software boasts its 92.5 percent accuracy to come up with an advice that the registered members can start making almost $ 155,000 in just two months. These claims have been put on the website without any substantial proofs. Surprisingly, the tall claims on the front page of the website have not been backed by their disclaimer which reads and we quote “Simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact”. This clearly shows that what has been claimed on the website’s first page has not been substantiated by their disclaimer page.
Another striking feature on the website is that it shows some pictures of the well-known websites like Forbes, CNBC, Yahoo, Business Insider, New York Times, and Bloomberg, showing news about the software as being rated as #1 by these sites. In reality, when we cross-checked on these prestigious websites we found no article talking about Pump Trades. This clearly shows that news articles on the website’s front page is fabricated and are far from the reality. This is one of the most frequently used tactics by such marketer who lure the investor on disguised news items.
The website also shows some reviews of the existing customers (total 3) boasting the performance of the software. This review also shows the amount of money made by these customers and informs you that you can see their live results by clicking on “Click here to see live proff”. However not only the spelling of the proof is incorrect there, you cannot click there and get to watch the live trading performance. This is a clear sign of fabricated reviews and hence it cannot be believed.
Our investigation on the Pump Trades has unearthed some very important aspects of the platform and has definitely created an unclear picture. The major doubts have been enlisted hereunder and which we believe are very crucial.
The person named as the founder and the CEO of the Pump Trades is Alex Stewart. However, our research on the company on the internet has ended in no results, also, there is no information regarding the registration, licensing, or the registered address. Our investigation on the Alex Stewart, the self-claimed CEO, has also ended without any positive outcome. This makes it clear that Alex Stewart is a CEO of a non-existence organization, and the name is used so that the real people behind the software can hide.
This is an age-old technique used by many notorious guys to disguise them by words and persuade them to attract to their scheme of things.
The Pump Trades claims that their software can predict the financial market with 92.5 percent accuracy and can provide returns which are unparalleled and are as high as $ 150,000 in two months. This surely is an exaggeration because as per our knowledge no software in the world has achieved such a high accuracy and the best available software can predict only with the accuracy of near 80 percent. Also, their claims of the website have not been backed by any data to prove the results.
Although the claims have been put on the homepage of the website, their disclaimer page says that the test results of any software can be overstated. The dual tone on the website really scares us.
Such techniques are used by the people with shrewd intentions in order to make you believe that the software can make you rich in no time so that you get attracted towards them
Time is Running Out!
The website prominently displays two timers indicating that the time is running out for a free subscription, and it also shows that the app will cost $ 2,990 soon. This is a notorious marketing gimmick utilized by many scrupulous individuals so that the visitors of the website make an immediate purchase. Such techniques are prevalent as not to allow the visitors to the website to leave the site and search for honest and clear reviews about them on the internet.
If you have read our other articles, you would have known that no software (robot) cannot trade on its own and it requires a solid broking house to execute the trades in the market. The investigation of the Pump Traders Software shows that the website of the software does not provide any information regarding their affiliated brokerage houses nor it indicates how the trades will be executed. The non-existence of such a crucial information on the website, also, non-availability of other important information adds to the negatives of the website.
Principles Behind The Software
The website provides no information about the principles behind the software. Alex Stewart indicates that it’s a secret formula which can make your rich in just two months but he does not provide any information on how does the software works or what are the principals used in the making of the software because of which it can predict with such an accuracy. The explanation on the website is very vague and seems to be targeted towards the new and naïve traders in the market. It is aimed towards attracting individuals who do not have sufficient knowledge about investing and trading. The unavailability of principles behind the algorithm is a clear indication that someone is trying to lure the traders.
The website of the Pump Trades Software indicates that it can provide up to 92.5 percent accuracy with a return of about $ 150,000 in just two months. The website also shows that the software has a secret formula which has been developed by Alex Stewart, an experienced professional. It is currently available at no cost but will be priced at $ 2,990. The website requires you to register and get an account with their recommended broker along with a deposit of a minimum of $ 250 to get started. The website seems silent on the most critical aspects of registration, license, affiliation, principles behind the algorithm, and other important information. The complete lack of transparency and exorbitant claims made by Alex Stewart has made us believe that everything on the website seems a marketing gimmick to lure the investors into their scheme of things, and it is difficult to trust.
Hence, our recommendation to our readers is that they should completely shrug off this software and should stay with an established name like the Option Robot. The Option Robot software has established very high standards and has been consistent with their services. Also, the Option Robot has an affiliation with brokerage houses who has a very strong track record as well as a license from a well-reputed government authority. The Option Robot platform provides the established technical indicators to assesses and evaluate the market conditions in order to make profits.
Overall, we would recommend our readers to avoid the Pump Traders Software completely and should start their trading journey with the Option Robot.
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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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