Automotive Profits: New Trick, Old Scam
Quick Summary of Automotive Profits
Rating: 1 out of 5. It's just another scam, hidden behind a story that is about as plausible as Cinderella!
Pros: None that I can find.
Cons: Everything about this system is a con!
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It’s becoming quite common that Binary Options scams pick a specific topic to follow, rather than just be a generic “hey, make millions” type pitch.
These topics vary widely, but at the end of the day they are just a façade, and always return to the basic ploy of marketing to your greed.
Automotive Profits, is one such niche focused system, and as you may guess from its name it uses the car industry as its way of worming itself into your wallet.
The sales video for Automotive profits begins in an interesting way: it starts by making an argument that I make all the time that systems that offer to make you rich in return for nothing are scams.
The narrator, one Jared Donovan, states he too has been tricked by these systems in the past.
It’s a valid argument, and one that I was surprised to see, but Binary Options affiliates will try anything to get your trust.
The argument continues by saying that if the so called gurus profits and losses were connected to your profits and losses, they wouldn’t try and peddle these fake systems.
Apparently Automotive profits is different, and Jared’s success is linked to yours, though it isn’t clear how.
Apparently insulting people makes them more likely to sign up.
Usually at this point, there is an amazing story of how the narrator comes by his success, though Jared states that he isn’t a geek and didn’t manage to hack a company and steal the software or even write it himself.
No, instead he begins his sob story, of how he is now almost a millionaire.
Allegedly Jared worked as a car salesman and his rags to riches tale starts with one of his customers.
The story goes that Ken, the customer, never shared his secret of success, but one day the narrator helped him out when Ken really needed it, and Ken accidentally left his briefcase behind.
Jared managed to find him easily because Ken drives an R8 and gave him his briefcase back.
Ken then took him to a diner where he showed him his bank balance (there’s a screenshot of the phone with the balance, but it looks faked if you ask me).
1) Take a pre-made image of a phone 2) Open up your graphics editor 3) Add a ridiculous balance to the image 4) Trick the unwary
This magic software only trades automotive assets.
Now here’s the thing: Automotive Profits signs you up with a broker called Option.fm.
The only automotive related commodities that this broker trades in are stocks for 3 or 4 big name car companies, such as Toyota.
Automotive assets (I’m assuming stocks, though he never clarifies)in the opinion of this, most likely, made up man called Ken, are much more stable than any other stock. This is of course BS, motor industry stocks are just as volatile as any other stock.
Combine the fact that this is done via Binary Options which only focus on short term changes and the stability of the stocks becomes irrelevant as stocks at a micro level are always volatile!
Of course, the video continues by telling us that Ken found a guy in India to write him some special software to take advantage of this alleged stability and make the Automotive Profits software.
As well as that, this software is automated so you would have nothing to do. As with any automated Binary Options software, their algorithms have very little effect on whether you win or lose: they follow broad trends which have
No, of course not silly! You made it up!
The story then has gone from one that can almost be believed, one about how this system isn’t a type of scam, to a story that is just another version of every story in every Binary Options scam.
Automotive Profits is supposed to take 1.7% of your earnings from the trades, once you pass a cap of $25,000. I’ve heard claims like this before and they have never appeared to happen. This is yet another tactic to increase the legitimacy of the system. They don’t care about the 1.7% because the likelihood of you making $25k is remote. All they care about is you making a deposit: that’s how the people behind this system make money! One deposit equals a commission to them.
Signing up to Automotive Profits
As expected, this is a pretty standard affair, the same as every other Binary Options scam out there. You sign up so you can have your email spammed, and then sign up again to the broker and then are prompted to hand over your money.
As is increasingly common, if you make a deposit from this site, it routes through another third party site (not the broker!). As such, even though the site has SSL security, I would strongly advise you to at least click through to the broker and make a deposit there – it’s marginally more secure.
The Bottom Line
My best advice though, is to simply not make a deposit at all. Just walk away from Automotive Profits.
Why? It’s a scam! Ken doesn’t exist, neither does Jared and the balances you see and the story you hear are just fiction.
Binary Options is high risk trading and the only real way to make money with it is to sink to the same depths as the affiliate behind Automotive Profits and to promote Binary Options to the unwary.
Walk away and save yourself from a headache and a weakened bank balance!
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