Binary scams have now become common news. However, you must be wondering what leads to a trading scam in the first place. You guessed it right. The scam trading bots are the cause of all the trouble. You will find new trading bots every now and then with new names.
Note: A good alternative to this The Millionaire in PJs scam is the Super Simple Bot.
Well there is a bad news for those naïve traders because now there is a new scam in town by the name of Drexel Code. Yes, the name might sound different, but this system has just got one objective and that is to deprive the traders of their money.
Now any investor might wonder what makes Drexel Code a bad choice. Well the investor will just find out why. The minute the investor opens up the website of Drexel Code an irritating pop-up opens on the screen. Well the pop-up is just a trap that says that the trader will be able to make an incredible amount of money. The professional traders usually think before making the move. However, the new traders are the ones that rush into signing up for this trading system.
Note: Keep a vigilant watch on the scammers and just opt for the credible trading bots.
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Now this pop-up states that signing up is free. Well the trader needs to get his facts straight. The trader will need to make a deposit to this trading system to make it functional. Usually these scam trading systems are associated with scam brokers. These scam brokers are truly after the trader’s money. Thus the investor needs to be on the lookout.
The Drexel Code website looks abruptly designed and it seems that the designer has not worked on the outlook of the website. A well-designed website has proper tabs. However, this is not the case with Drexel Code.
For example, when the investor opens the website, he can just see the video on the screen. Now there might be the case that the investor may not want to watch the video. Well for this situation the features of this trading system should be mentioned on the website.
This way the trader will get a clear idea if this trading system is a scam. If essential information is missing then it clearly states that this system is a scam and the trader needs to be careful with his choices.
Another hilarious aspect that will make any professional trader laugh is that this system states that the trader will not encounter any losses with Drexel Code. Well this sounds too good to be true and does not really happen in the real world. When the trader wins money there are chances of losses as well.
The investor needs to accept the fact. There is no way that any trading bot can guarantee that there will be no loss. However, there are credible trading bots as well that cut down on the possibility of loss. Thus the trader needs to face the facts.
Now when the trader watches the video of Drexel Code he will notice that during the demonstration the name of Porter Finance is mentioned. The trader has to fund this broker. Now this does not really sound like a reputed name so the chances of a scam are greater in comparison to a well-known broker. A deposit of about $250 is made in the video.
This is no small amount for a new trader so the investor has to make wise investments. The trader needs to understand the fact that the scammers usually earn from the deposit of the traders. The investor should only make the deposit once he is 100 percent sure about the reputation of a trading bot.
The video of Drexel Code also shows some options in the video that include auto, manual, loss protection and auto multiplier. The presenter simply turns on auto, loss protection and auto multiplier in the video. Can this really happen that these buttons can control the entire operation of Drexel Code.
Well the truth is all this does not sound real at all. Thus the investor should not make a hurried sign-up. Next a trade is analyzed and the video shows that the investor has won. Real trading is truly not that simple and the trader cannot get success without understanding the perception of trading.
Note: Identify the scammers and choose real trading bots.
There is another interesting thing mentioned on the Drexel Code website. It says that only one spot is left for beta testing. Well beta testers test the efficiency of a system. However, there is no guarantee that the trader will make profits this way.
Usually the beta testers are just paid to test the system and they just give out positive reviews to make the system sell well. Well the traders need to understand these gimmicks if they do not want to suffer a loss and do not want their investment to go waste at the end of the day.
One of the major flaws of Drexel Code is the weak customer support. The success of any trading platform does depend upon the performance of the customer support. However, Drexel Code fails to make an impact. It does not leave a lasting impression on the trader. The reason is that the trader can simply send an email to the system. After sending the email the trader will have to wait for the response. There is no surety whether this trading system will be responsive or not.
Sometimes there are urgent queries that need to be answered on an urgent basis. Thus the trader will be stuck in this situation so he cannot invest time and trust on a system like Drexel Code. Secondly, there is no surety whether the trader’s email will be answered in time. With scam systems the possibility of delayed response is there and trader needs to understand this fact.
Now since the new traders are the common victims of scams like Drexel Code so they need to have a well-designed strategy when opting for trading bots. The new traders need to evaluate their trading knowledge. They need to know whether they are well prepared to start with trading.
The preparation means that the trader needs to have knowledge about trading strategies and how trading algorithms works in trading bots. If not then the trader has to buy more time and develop a better understanding about binary options before signing up with a trading bot.
When the trader has the knowledge then he should critically evaluate the trading bot that he is planning to choose. It is always preferable to opt for trading bots that offer a demo. This way the investor can test the features of the system and know the defects of the system well in advance.
However, the entire scenario is quite clear with Drexel Code. It is just another scam and is designed on the same pattern as other scam trading bots. A new trader will take time to understand this, but a professional trader will identify this scam immediately based on his experience.
This review points towards one conclusion and that is signing up with Drexel Code can be a disaster. It can ruin an investor’s career. The trader can save himself from this agony by not choosing Drexel Code in the first place and this will be the right thing to do.
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