The Banker Profit System: Don’t Bank on this Scam
Quick Summary of The Banker Profit System
Rating: 0.5 out of 5. It's just another binary options trading scam.
Pros: The 17 minute sales video is available on YouTube, enabling you to skip through its chalkboard math moments that don't help you understand the software anyway.
Cons: The system features fake testimonials, fake security seals, and has no verifiable proof of working.
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“How does earning $5,368 on a weekly basis sound?”
So begins the tale spun by Andrew Teegan, the supposed creator of The Banker Profit System.
Andrew goes on to state that, just in case you were wondering, his system is not a scam. He adds that while his system won’t make you a millionaire overnight, it will enable you to have some of the more frivolous things in life. How?
Apparently, this system will teach you how to make thousands of dollars “in just a few clicks of a button.”
Who is Andrew Teegan?
Andrew states that he worked as an investment banker for 25+ years. “I invested millions of dollars of other people’s money,” he explains. “I witnessed bear markets, bull markets, and everything in between.”
One day, Andrew had an epiphany:
So, Andrew built “an automated system that would work for me, and earn me money.” To this end, he also contacted 17 “leading algorithmic analysts.” Together, he and these analysts created an automated trading system that is capable of analyzing market movements/patterns and placing trades. Or, as Andrew explains, in his grammatically-challenged English:
Also, Andrew has teamed up with brokers that offer the highest return on investment (ROI). However, Andrew is not affiliated with his recommended brokers, nor does he receive a referral commission of any kind.
How does the system operate?
“Let me draw it out for you,” states Andrew, pulling up a virtual chalkboard. “Let’s say you start with a $1,000 trading account. On the first trade, the robot will set your trade size to 2.5%. The robot’s internal parameters allow it to win this first trade with a probability of over 60%.”
Andrew explains that the robot analyzes all available trade options and their volatility. It then selects those assets that are experiencing low down swings and high up swings. Also, the robot analyzes only 30 minute trades, not 60 second options.
What’s wrong with 60 second options?
As Andrew explains, 60 second options are too short to allow the robot any time for its market analysis. However, in the space of 30 minutes, there is sufficient time to allow the robot to analyze the markets and place accurate trades.
Andrew spends several minutes going through possible trading scenarios, noting how his robot wins trades at a greater percentage than normal compared to its occasional losses. In this way, you slowly accumulate money. Apparently, there will be enough money accumulated from al the trades that you’ll be making exactly $5,368/week.
We also see several satisfied customer testimonials, including the following:
Once you enter your name and email, you are shown a live trading account that features over $3 million in assets belonging to someone named David.
Despite all this evidence to the contrary, however, I have good reason to believe that The Banker Profit System is nothing but a scam. Why?
1. The program is listed on Clicksure and ClickBetter.
The Banker Profit System is listed on two affiliate networks that are well-known for carrying shady products with up to a 50% refund rate. Notice also that the commission for promoting this system is a whopping $250. This means that affiliates everywhere will be recommending this system as a legitimate method of making money.
2. Scam sites recommend The Banker Profit System.
As expected, the usual scammy review sites have already left The Banker Profit System positive reviews. Some of these scam sites include binaryapp 810, binarymetabot, and theforexprofit. When you click on the links included in these websites, they all contain affiliate codes.
Exactly how objective can such reviews be when they all stand to profit a hefty $250 per sign-up?
3. BinaryBook is your recommended broker.
The good news is that Binary Book is based in the U.K. and is actually regulated by the CySEC. However, because the brokerage is overseas, it also means you’ll have a harder time dealing with it should something go wrong with your investment.
Also, you’ll need to deposit a minimum of $350 to get started with BinaryBook.
4. There are fake security seals.
The Banker Profit System features the following security seals on its sales page:
These seals aren’t clickable, nor are they backed by any software company, so they might as well be imaginary.
5. There are fake customers too.
The Banker Profit System features these happy beta testers as “proof” that it is a legitimate system.
However, after doing a Google search on all of these images, I discovered that they are nothing but stock photos. For example, here are “George” and “Hannah:”
6. Andrew Teegan is fictional.
If Andrew was an investment banker for over 25 years, and also worked with software experts to create his auto-trader, there should be some record of this guy on LinkedIn or other business websites. However, a Google search on Andrew Teegan turns up nothing. Also, his “17 leading algorithmic analysts” are never named, even though these experts include former NASA, stock market, and retired army analysts.
The Banker Profit System plays up a bunch of economic double-speak to get you to sign up with the system and plunk down $350 of your own money. Don’t fall for this scam.
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