Is Google Trader a Scam?

google-trader-mainName:  Google Trader
Website:  gtradersoftware.com
Price: $250 min deposit
Owner: Ben Williams

Bare Naked Scam rating: 5 Thumbs Down

insured-profits-scam-rating

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Is Google Trader a Scam?


Google Trader is a “free” binary trading software that is supposed to deposit thousands of dollars into your bank account every week.

When watching the sales video, I noticed a lot of red-flags that lead me to believe this product is not what it seems. In this review, we will take a look at Google Trader and see what it’s really all about.

First, let’s count the red-flags.

Too Much Hype

Like similar products, this sales page is full of hype and income claims that are impossible to verify.

There is simply too much hype in the sales video it’s almost impossible to believe; it’s not realistic or plausible.

I mean you can make money in trading, however, there are only 1% of the traders  in the world (traders who are well informed and experienced) whom are making that massive amount of money.

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Total Member’s Earnings on The Homepage

On the main page of the website, below the sales video, there are two counters; one shows the total enrolled members and the other counter shows the total amount of cash that the members have earned.

It’s clear that these counters are fake and not based on any real data.

I disabled my internet connect and the counters continue to increase, and when I open a fresh Google trader home page, it seems that the counter will restart at a certain number. Take note of the time and the counter below:

google-trader-counter-1

 

Google Trader Has Nothing to Do With Google

Google Trader has absolutely nothing to do with Google.

It’s a little unethical to include a well-known reputable brand in your product’s name.

In the sales video, the speaker mentions that the website is hosted by Google, but I’m not even sure what that means because Google is a search engine.

Regardless, this product has nothing to do with Google!

If you scroll down to the bottom of the page, there is a fine print with the statement “This site and the products and services offered on this site are not associated, affiliated, endorsed, or sponsored by Google, Clickbank, eBay, Amazon, Yahoo or Bing”.

The People in The Video Testimonials are Actors

A few video testimonials are included in the sales video but all the video testimonials are from paid actors.

It’s not hard to find someone who will say whatever you want in front of a camera for some cash.

There are a few more red-flags but we will cut it short here, so that’s 4 red-flags that were spotted right off the bat.

How Does Google Trader Work?


Google Trader is advertised as free, but you have to enter an email address and then you have to sign up to a company called Binary Book.

This is where the real price of Google Trader is revealed. Take a look at the screenshot below.

google-trader-account

Notice the minimum deposit amount? I never even heard about Binary Book. So there you have it, the real price of Google Trader is $250 – that’s quite a lot!

Binary Book must be a respected trading company, right?

Well, it does not look like it.

According to Site Jabber, a consumer review website, Binary Book received a rating of 1 and a half stars out of five stars.

Reading the user reviews, it’s clear that a lot of people don’t like this company! The list of red-flags continues to grow!

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 What about the Software? Can You Make Money With It?


The binary options trading software is hyped up to be the most amazing Auto Trading System on the face of the planet.

But of course it falls short.

The software is supposed to determine which trades are most likely to succeed and then invest a certain amount of cash into those trades. Except, that is not possible.

Binary option trading software makes a lot of mistakes and it’s not as safe as people claim. In fact, there are numerous reports of people who have lost all their cash to trading software. The truth is that if these programs worked, every trader would be a millionaire, and there would be no need for manual trading at all.

Honestly, these programs don’t work, the trades fail more often than they succeed and you will always operate at a loss. In other words, it will be incredibly difficult to make a profit.

Your success with trading depends on a few factors: your knowledge of the marketplace, the amount of funds you have to invest, and a lot of luck and consistency. If you want to make money trading you will have to bring your knowledge up to speed and keep practising. If you are serious about becoming a trader, I would suggest that you start with Etoro.

This way, you will grow your knowledge and you can practice with a demo (practice) account without going live.

Trading is Risky! But…


If you get the right knowledge, mingle with the right group of traders, practice hard enough, form up a winning trading strategy, you can beat the market.

But, it takes a lot of hard work, experience and a little luck to profit from trading. I was a trader many years back before I became a successful Affiliate Marketer, and all I can say is that no trader has a 100% profit track record.

Even the most experience trader may lose in their trades.

By forming up a trading strategy, you would have minimise your risk of losing money, but there are many things to consider in order to create a winning strategy. I will not cover in details here but you can get started to form your own strategy here.

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This course will teach you all that you need to know about making money online with affiliate marketing and how to create a successful website. It’s very low risk and perfect for people who don’t want to focus all of their energy into staring at trading data and crunching numbers.

There is a free trial, check it out for free.

Have you tried Google Trader? What do you think about binary options trading? Leave a comment below.

Your pal,

Jack

My Secret to Online Sucess

About the Author

Jack is an experienced online marketer who would like to extend his help to whomever wants to learn more about building a successful online business. Connect with me on Facebook, Twitter, and Google Plus. Read more about Jack and BareNakedScam.com here...

Leave a Reply 25 comments

Justice - Reply

My broker swindled every penny off me through binary options. Over $80k lost, starting from a $1000 investment. I was able to get my entire lost funds back. Thanks to king-wizard(at)programmer(dot)net He is the best to recover your funds. There is still hope

Rockle - Reply

Thanks jack for the review you save me from a trap.

    Jack Cao - Reply

    You are most welcome Rockle!

    Cheers!
    ~Jack (BareNakedScam)

Jeannette - Reply

Thanks for sharing if it was so easy, we could

ban the poverty in this world!

Andy Galloway - Reply

Good article Jack. I was tempted to try this autotrading software. I felt the link with Google would be some indicator of quality and reliability. However, if someone has to try that hard to get my money, there must be something wrong somewhere, so I won’t bother.

I have tried several of these types of software. None of them do what they claim. In at least 2 cases the software “broke” so that it couldn’t talk to the broker’s site, which defeated the whole object of the exercise. Eventually I lost my money with one of these brokers and withdrew my money from the other.

One software could only trade in EUR/USD, even though it recommended a host of other trades. Having said that, it was remarkably accurate at predicting the results of that one trade. I lost my money with that one by manually trading the recommended positions. When the software did it, win. When I did exactly the same thing, loss. Very weird.

The best thing that has come out of all of this is that I hooked up with a professional trader through one of the broker houses and I’m having fun trading. I don’t touch binaries as even strong trends can reverse themselves long enough to lose your stake. It’s fine if you want to gamble, but that’s not what I want. At the moment, I’m winning more than I lose on long-term options, anything from 4 days to 4 months. Emotional rollercoaster, or what.

Again, good post. Thanks for doing the research.

    Jack Cao - Reply

    Thank you for your comment Andy!

    I hope you can share with us your secret to spot good trades.

    Cheers!
    ~Jack (BareNakedScam)

Rex Yee - Reply

How about the Online Trading Academy for learning or practicing trading system? I got email from the OTA and plan to attend three day work shop. But not sure it is something similar to Google trader. Any advice.

    Jack Cao - Reply

    Hi Rex Yee,

    I am sure if you attend the course, they will try to up sell you to another course which will cost a few thousand dollars.

    I see that you are from Singapore, so I truly suggest that if you want to learn trading on Forex, you should check out Six Capital.

    Cheers!
    Jack

Risto-Matti - Reply

Thanks about the review Jack! I was looking into this software but got suspicious right away. The advertise included nothing but hype. You opened up clearly many points I realized when listening the video. The video reminds me a pyramid scam called Wincapita in Finland back in few years. Wincapita held also a “software”, a binary that was supposed to hook into currency trading and make big profits out of variations of currency values. Well, the founder of Wincapita and inventor of this currency machine was sentenced to prison for few years. This google trader club really resembles Wincapita.

    Jack Cao - Reply

    You are most welcome Risto!

    Always glad to help!

    Cheers!
    ~Jack (BareNakedScam)

Paul Castle - Reply

I used BinaryBook through a different autotrader called socialtechtrader. It was total crap. It lost 9/10 before I turned it off. Exactly opposite results of what they claimed.
While I tried my hand at manual trading, I also was running Metatrader5 on my computer.
What I noticed is that there was considerable lag on binary book’s assest price vs metatrader5, a very well respected trading software.
Binary book throttles the value against you through their lag.
I can’t count how many times I had a trade about to end and lost but immediately after it ended, the price turned what would have been in my favor to win the trade.
I would NEVER use again or recommend binarybook to anyone.

Henry Victor Kotkin - Reply

I’ve tried to contact googletrader.com after I followed there email the sent me. I tried and couldn’t get in to them. If they are real, can you send me a phone number to contact them.
Henry Victor Kotkin

    Jack Cao - Reply

    Unfortunely, I do not think Google Sniper provides any support. It is just a front runner to bring you to their recommended broker.

    If you have issues, I would suggest you go directly to the broker.

    Hope this helps!

    Cheers!
    ~Jack (BareNakedScam)

Dean Merriman - Reply

I tried the £250 trial with BINARYBOOK to see whether it was true or not that you could make the money they were promising. The next day I was contacted by one of their Brokers Called David Brandon. He filled me with plenty of lies about how much money he would make me and that I would never have to pay for utilities again as I would make so much money. He then added thousands of pounds of bonus payments to my account which looked great, but it never belongs to you, nor will you ever get your hands on it!! It was only when I tried to draw money out that I became suspicious. They don’t like you taking money back out as they use your money to make them profits. This broker pestered me every day with promises of CERTAIN gains which never materialised. It’s a total scam and please do not be fooled into investing like I was! Currently I have lost £7660. Like I always told people, “if it sounds too good to be true, it probably is”!! They are also not regulated by anybody so you will have no recourse when you want to file a complaint. That’s how they are getting away with it. Please be very careful about these Binary Options because very few of them are legitimate. Hope this helps

Greg J - Reply

Thanks for that helpful review, I had the same feelings when I saw the presentation…”I made $6,000,000 this year with GoogleTrader.” Seriously? I will take a look at the free trial for your course. Greg J, Simi Valley CA

    Jack Cao - Reply

    Thanks Greg! Looking forward to communicate more with you!

    Cheers!
    ~Jack (BareNakedScam)

Brahimah Osman Gbolo - Reply

Have any of you invested with gtrader before? If you haven’t is better to try it out yourselves….. and then give your comments..

    Jack Cao - Reply

    Giving it a try into this program means falling into the scam. I would rather not risk my $250 because I just might not be able to get my money back.

    Cheers!
    ~Jack (BareNakedScam)

Dan Maxwell, Jr - Reply

Thanks for sharing this one Jack.. Sometime I sit and wonder.. why won’t people apply the same level of thought which they use to scam others, to making the world a better lace for everyone?

Diego Felipe - Reply

Thanks for the info, I was just looking for a review.
I just taked a look on the Etoro program you mensioned, and it’s another world, nothing to compare with gtradersoftware, you saved me from a trap. thank you for sharing.

Alexey - Reply

Hey !
I loved your product review very much, and stand by every word you said about binary options!
Its a total scam, and people should be aware that binary options is the fastest way to loose all your money.
Good luck!

Kevin - Reply

Hi there,

Really glad I read your review on Google Trader! Will be one to keep away from I think 🙂 Always been interested in binary trading and stocks etc… but always seems complicated. Will be surprised if there is a easy software program out there??? Plus like you say trading is a risky business! I know a few who have put in plenty of money and not received a penny back, nevermind.

Great review and love the website, will always visit back for more updates 🙂

    Jack Cao - Reply

    Thanks for your comment Kevin! Glad I could help!

    Cheers!
    ~Jack (BareNakedScam)

Wayne - Reply

Hey Jack very well done article. I wonder if Google gets their legal team working on people like Google Trader? Anyways you don’t have to look far for a new scam with a new twist. Hopefully people are smarter than to think a computer software program is going to make them rich.

    Jack Cao - Reply

    Thanks for your comment Wayne! I am pretty sure Google will not intervene on this because there are so many scam products abusing Google’s name everyday. I really hope people will not falling into these traps of the scammers and that is the reason why I setup this website in the first place.

    Cheers!
    ~Jack (BareNakedScam)

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