Are You Going To Be the Next Victim of Virtnext?
What does it take to create a successful scam online? Well, you need gaudy promises of riches, plus lots of assurances that’s everything legit. That means the website needs to present various ways of telling you that they’re a reputable brand so you can be convinced to put your money on them. In fact, a look at how Virtnext does it is a good way to educate yourself on how not to be scammed.
What In It for You?
The promise is simple, and the claims are truly fantastic. The claim is that they offer the use of their trading software that makes the right call virtually every time. According to the video, the program exists and it has only lost once in the last 4 years. That’s a single loss in 1478 trades.
Now you can get free access to it. Of course, the access to the program is “extremely limited”, so you really do have to “act fast.” The company “plans on raising the company shares to 300% by the end of the year”. And yes, the video actually says the magic words: “This is a one-time only opportunity.
The headline for the website even proclaims that you can make $18,000 every week from home!
So What’s Wrong?
Well, the point of the website is actually to earn referral money from the binary option websites they send people like you to. Then when you invest your money, you find that the program isn’t just unreliable. It’s actually set so you lose money.
So let’s list down the red flags with Virtnext:
- Absurd claims. Seriously, no program makes the right call all the time except once in 1478 trades. Such a claim is virtually impossible. In binary options, you make money when you predict correctly if the stock price is going up or down. Now can you seriously believe that this essentially 50-50 system can be predicted to such a degree?
- Disappearing site. This Virtnext website has come up, disappeared, and then reappeared several times over the last few years, with different addresses. The same is true for their YouTube videos.
- It’s not “a real company”. They emphasize that they’re real, with the name Virtnext Investments LTD. But when you check the databases of real authorities, you’ll find nothing on Virtnext. There’s nothing on the Securities Commission Exchange (SEC) and the Financial Industry Regulatory Authority (FINRA). You won’t find it on the Commodity Futures Trading Commission (CFTC) or on the National Futures Association (NFA).
- The claims of revenues and profits are bogus. Supposedly, their 2014 revenue was $723 million with a net income of $203 million. You’d think that such a success would merit a special mention from Forbes, The New York Times, or the Wall Street Journal. But there’s none.
- They’re not associated with Vincent Bollore. Now Vincent Bollore is a real person. He’s a real billionaire from France who’s now worth $4.8 billion, and he’s ranked the 248th richest person in the world. But no real news agency (except bogus review websites) mentions his association with Virtnext, and his Forbes profile doesn’t mention it either. Do a Google search yourself and check it out.
- The Facebook feed is filled with stock photos. There are a lot of stock photos here, used for people who are supposedly offering testimonials.
- Fake articles. They even took the time to present fake news articles. There’s one screen shot on CNN Money, with the headline “Virtnext Board of Directors now worth $1.5 trillion”. But you can go to the CNN archives yourself and see that this news article is bogus.
- More stock photos. They show a graph of satisfied clients, all earning thousands of dollars. The lowest is at $39,150 and one even earned $460,100. But they accompanying pictures of these traders are all stock mages for sale. You can get then from shutterstock.com and fotolia.com.
- The program is the very same software used in other scams. These include Drexel Code, Golden Paradigm, Profit Insider Pro, Binary Brain, Trade X Confidential, TrianaSoft, and many more.
What Happens If You Sign Up?
When you sign up, your email inbox is going to be bombarded with spam telling you to sign up right away. That means putting in a minimum deposit so you can trade. You don’t have to pay for the software outright.
But the problem is you do pay dearly for this “privilege”. You’re going to be tied up with an unlicensed broker website, while trusting your money to a program that’s virtually spewing random calls. That’s what you call a recipe for disaster. In the end, you just lose your money.
Even if you don’t sign up, your inbox will just get filled up with offers. It doesn’t matter if you keep on unsubscribing. It will continue on and on until you have to get a new email address.
So in the end, the company is fake, the website news articles are bogus, and the testimonials and featured traders doesn’t exist. The famous names they use here aren’t actually associated with Virtnext at all. So you don’t really know who’s behind the company.
So are you sure you want to invest your money in such a shady undertaking? You have so many reasons to doubt, and no good reason to believe. So you have to forsake your desire for easy money if you don’t want to end up as just another scam victim. That’s the key to every successful scam: your greed can outweigh your good sense.
The video starts with the following words: “You’ve heard the expression – ‘there’s no such thing as a free lunch’. Well, actually, guess what…there is such a thing on the stock exchange.”
Do yourself a favor and guess again, will you? When it comes to Virtnext, you don’t get your free lunch, your guaranteed profits, or anything else. What you’ll get is a headache as you try to get your money back, if you ever will.