PRODUCT NAME: CFD Society
OWNER: Chris Chase
If you are into Forex trading or investments you are likely to find in your inbox (or spam folder) a marketing offer from CFD Society that promotes its Binary Trading software that can help you gain high income through binary trading. The problem with the internet is that anyone can always offer you something or pretend to be an expert about anything just to appeal you from signing up for their products. Binary trading has been around for quite some time and many have been making good money from it and lost money significantly from it too. These days many scammers are trying to ride the trend on binary trading and offer traders the best way of making money from it, such as the CFD Society. So is CFD Society a scam? Let’s find out.
CFD Society Review
CFD Society claims that it has highly accurate binary trading software that can predict when you should trade with a high return of investment. It is being marketed as owned by Chris Chase who is allegedly a successful investment manager and was already featured in Forbes, Bloomberg and Fortune. By using the CFD Society software you can possibly earn at least $60,000 a year by just spending only 20 minutes of your time a day. Before you get impressed lets dig further about CFD Society has to offer.
What is CFD Society?
CFD Society is primarily a site that claims it can help you improve your chances of getting better outcomes from binary trading. You need to register and sign up for their CFD Society app which you can use to gain access to different brokers and tools that can relatively make sure that you get the best results from binary trading. It describes its software having the ability to incorporate a massive database of factual trading market performance that makes it capable of giving you the best trading recommendations using its proprietary algorithms that gives accurate predictive binary trading outcomes. Don’t fall with this kind of marketing scheme. Here’s why:
The trading market is unpredictable
By its nature the binary option trading market is very volatile and unpredictable that no software, knowledge or skills can guarantee that you will get the best results. It is similar to gambling or flipping of coins because unlike the stocks prices where when you trade in the long term it gradually goes up or down the binary trading market is traded over a minute and the prices wildly fluctuate and hard to predict. The CFD Society does not even elaborate how their algorithm predicts the binary trading flow that makes its prediction highly accurate.
Untrustworthy binary trading brokers
When you use the app of CFD Society you will get connected to its binary trading brokers who can trade your money in the market. The problem is there is not any term or condition how you do this and there is no way to know how these brokers use your money. In addition the brokers are based offshore which makes it hard to run after them for your money.
The site obviously uses fake testimonials as many of the images they use are taken from stock photos. This is a blatant sign that the site is a scam.
CFD Society software issues
If you scrutinize closely its software information the SSL and security icons displayed at the site are not functioning. If the app is really legit the developer will disclose this information to its users. The icons are unquestionably merely display photos that will trick people into believing that its app is secured.
Will convince you to make more deposits
Once you are connected with CFD Society brokers you will find them to be persistent in making more deposits into your account for trading. When you do there is no way of knowing where your money goes and how they will be used and definitely you will lose control with your precious money.
Accuracy of 97%
If you understand how the binary trading market works you will definitely know this claim is inaccurate. As explained earlier binary trading involves trading in minutes, not long term. The market is quite erratic within this given time and no software can actually predict the outcomes at 97%!
My Final Opinion of CFD Society
By this time you will know that the obvious answer if you ask is CFD Society a scam is a yes. It is nothing more than just a marketing trick to make you believe that you can earn $60,000 a year by using its software. You are actually facing a great risk of trusting your money to its brokers and to rely on the predictions of its software that seems doubtful on how it works.