Estimated reading time: 6 minutes
Technically speaking, Samba Binary Options is a fraud as opposed to being an authentic signal provider and fund management service.
The service is touted as the only binary options service that only accept your money when you profit. In other words, they are saying that they will never touch your money if a position ends up in a loss. Where is the relevant documentation to support this?
Well, we are concerned with this promise because the entire website of Samba Binary Options does not produce verifiable information to support all their claims.
We will get into those details below to see why this website is not a reliable opportunity for investing in binary options.
This service is presented by 3 people named Paulo Santos, Nick Roach and Mitch Skolnik. These people are all linked to another scam investment opportunity called Mambo Investments.
As you can see from the review above, Mambo Investments is already a verified scam and a project that was launched by the same people who created Mambo Investments.
Now it appears that these individuals are back with a bang, and they are part of the Samba Binary Options project.
Surprisingly, I discovered that their profiles were fake. This man by the name ‘Paulo Santos’ is an imposter because his profile cannot be verified as authentic.
I actually run a quick background check and discovered that the person who matched those details on LinkedIn was not the same person whose picture was published on the Samba Binary Options website.
As you can see above, it is clear that the so-called President of Samba Binary Options is a stock photo who impersonated the real Paulos Santos.
We now have irrefutable evidence that the owners of Samba Binary Options are cowards who prefer to take advantage of the anonymous nature of the internet as opposed to revealing their true identities.
As a matter of fact, this is the number one red flag which we will use to negatively judge this investment opportunity as fake.
The website says that their service was setup with the aim of helping traders make money even if they don’t know how to trade options.
However, this website raises more questions than answers.
The first thing I’d like to know about this copy-trading service is whether or not it will yield profits. If so, how much will that be? And finally, what are the qualifications of the people who will be running these trades on behalf of their customers?
But to tackle these questions, we would be required to go deeper into the matter, and this would definitely expose owners of Samba Binary Options in a bad way. They deserve it though.
The first thing you ought to know is that Samba Binary Options is based on deception. No matter what trading system is used, you can never get 160% monthly return on investment.
Secondly, there’s nothing like trading with 100% risk free strategies. We’ve said several times before that trading involves some degree of risk. The best systems in the market do have risks, although these risks are contained within reasonable parameters.
Last but not least, the credibility of people who claim to be the owners of Samba Binary Options is questionable. We have already seen evidence above that they are using fake profiles. Can you trust them? Unless you want to lose money, there is no need to.
It appears that this scam is out there with great persistence. They claim that they use technical indicators to determine how price will behave. They also create the impression that their system has great precision, hence the idea that trading with Samba Binary Options is 100% safe.
There is also mention of fundamental analysis. The website claims that the so-called president of Samba Binary Options has access to insider intel which he always uses to know in advance where the markets will move next.
We’ve never heard of this before. The idea of insider information is completely a hoax. The markets behave the way they do simply because of the forces of demand and supply, not because some few greedy people are controlling it.
It’s obviously false to say that one has access to insider information, hence he can use it to make money.
And even if that was the case, don’t you think this man would have simply kept the secret to himself so he can join the billionaire’s club with a few fellows who know his secrets?
Samba Binary Options website is big on claims that they will make your life easier because money is generated on auto-pilot, thanks to the fact that their intelligent traders will handle your account on your behalf.
We also learned that this website was providing a signal service which they claim is ideal for expert traders.
My question is: why the hell would an expert trader use a signal service if they already know how to trade? It beats logic, plus it also shows that whoever is behind Samba Binary Options is an idiot.
The website says that their system places trades with 778% accuracy trades. We can’t define what that statement means because we are only giving it as it was published on the website.
We would appreciate an elaboration of this statement. Or may be it was a typing error. We are not quite sure. And if that was the case, someone would have noticed it long ago.
Up to this point, we have learned that Samba Binary Options is made up of a group of professional traders who provide a copy-trading service. But their reputation or track record has never been presented to us for verification.
Past results are non-existent. We actually don’t understand how Samba Binary Options was able to come up with an average win rate when past performance was not even available.
In fact, what they state as past performance is nothing more than a table of figures showing how trades were won.
Nothing in that table gives me confidence towards Samba Binary Options. Furthermore, there is no way one can verify the legitimacy of those results. We therefore can’t take these results as proof that this investment opportunity is profitable.
No need to buy this signal service. If you want a reliable trading system, you should pick any one from this list of binary options products.
As for the managed account service, we highly advice you against taking this route. This service is not very popular with binary options as it is with Forex trading.
Also, given that these people have proved to be malicious, it would be a big mistake trusting them with your money.
Don’t even use their trial offer because it is a way of hooking you to the product so that they can eventually scam you. These trial services are a trick where they will get to pitch the service to those whose Buy or Sell signals were successful for the period of time when testing was being done. Avoid at all cost.
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