- Official Website: www.prizmtech.co
- Verdict: 100% Scam Stay Away.
- Help Others: Leave Comments at the End of Page
Everyone wants to find that perfect strategy or that exceptional piece of trading software that will allow them to make serious money, be able to finally save up for retirement, and live a high end lifestyle that is beyond the reach of most people. This is how many people end up finding the Forex market and binary options since those offer some major opportunities to create massive amounts of profit. However, it won’t take long for new discoverers of these markets to also run into countless websites and companies like Prizmtech promoting automated trading software – and most of them are scams.
How does Prizm Tech hold up – read on to see why you should give them a pass, as well!
What Is Prizm Tech?
Prizmtech is an automated trading software for binary options. Binary options are most commonly used in conjunction with the foreign exchange (FOREX) markets and currency trading, but can be applied to other markets as well. These “all or nothing” trades can be very profitable with smart money management and a solid strategy that helps a trader identify and make the right trades, but an automated trading software isn’t going to do that in most (if not all) cases and this one is no exception to that rule.
Who Is Richard Squire?
Supposedly Richard Squire is the CEO of Priztech and a founding father when it comes to using software (especially automated software) to successfully trade binary options. He claims to have been the first individual to successfully create trading software all the way back in 2008 and has watched numerous companies try to rip off his designs, but without the proper key he claims they could never get the same results. Needless to say he is a multi-millionaire, the story goes, who wants to now give a little bit back by opening up this software to only a limited number of people who all get a customized API key to make sure their trading software works.
The problem is, confirming this information has proven impossible, which is strange if he is as wealthy, successful, and well known as the story would have you believe.
The Presentation Is Fantastic
This is by far and away one of the best video presentations of any website selling trading software, especially automated trading software. The videos have much better acting than many other software sites selling their own version, and by calling out two other automatic trading binary software scams that are widely known and reviled as scams,they try to play the high ground.
In fact, that’s just good reverse psychology with calling out two other known scams, and the testimonials name out those scams and claim that this is the software that helped them get their money back and more. This really plays on the frustrations of people who had been ripped off by previous scams and the way it is presented will deliver that emotional gut punch and then a longing to join those people in getting your money back and putting it all behind you.
Except it won’t work that way. This software will end up letting you down just like so many others have, as well.
So as we’ve discussed, compared to other trading software sales videos the presentation is fantastic and pretty convincing, but…
Prizmtech Is Still A Scam
The fact that everything looks so professional and believable is part of what makes Prizmtech so dangerous. Really obvious scams are easy to avoid, but when the presentation and design looks so good people are more likely to fall for it. However, there are many serious red flags with this program.
Red Flag #1: The API Key Is Always The Same
After numerous attempts I’ve found that the API key is always the same. Doesn’t matter the time of day you go to look at it, what country you’re in, or even if you change computers: it’s the same. This obviously can’t be that important then – especially if it’s supposed to be customized as they claim.
Red Flag #2: About Those Testimonial Photos…
Not only is it nearly impossible to verify that any of those people exist, or that those are their actual names, but a few of the photos there can actually be found in conventional stock photo websites. What are the chances a male or female model for a stock photo website would just happen to try out this trading software? This is a huge red flag about the sales pitch.
Red Flag #3: Doesn’t Mention How It Works
When you learn technical trading you learn things like the Fibonacci Sequence, trends and counter-trends, the usefulness of candlestick charts, or sometimes with a book even extremely rare and long term patterns that seem to indicate a likely market movement. You don’t get any of this from the presentation offered here and in fact don’t know any more about how the software really works than at the beginning.
Red Flag #4: Lying About Bottom Of Page Credentials
If the website really had an SSL certificate you would see the start of the address as https:// instead of http://. That extra ‘s’ makes a huge difference. Several of the other “verified” credentials at the bottom couldn’t be verified, either. Finding accurate information on the domain name from the WhoIs database brought up a lot of weird results. In other words there’s a lot of fishy things going on here.
Red Flag #5: The Back Story Is A Lie
The trading software open for the public couldn’t have existed for binary options in 2007 because binary options weren’t open to the public back then. Only major investment firms were allowed into that arena, and not even all of them.
Red Flag #6: Fake Testimonial Credentials
A little bit of Googling on the credentials given for some of the testimonials showed those editors, those people, and those publications didn’t exist. Or certainly not together. That just screams “SCAM!” in big capital letters.
So What’s The Final Verdict?
The final verdict is crystal clear. Despite a very nice looking video and much more work put into the website, there’s no question in the mind of this reviewer that the red flags say it all and though and elegant setup for a scam, Prizm Tech is still a scam and should be avoided at all costs.
Have you been scammed by Prizm Tech? Leave comments below, share your experience and help the community to make informed decisions.
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