What Is Prizm? A Scam Binary Options Trading Robot?

what is prizm a scam

Interesting!  There are mixed reviews about this software and this can often be the case with these Binary trading robots, because there is good money to be made from people promoting these products.

What Is Prizm Tech Software?

Prizm (or Prizmtech.co) is another AUTO binary options trading software, or “robot.”

As with all software of its type, it is meant to give you the option to automatically trade and take all the direct work out of it for you.

If you visit the website of this software, it does have more of a sleek and clean appearance than other similar products I’ve seen – but characteristic of many, it opens up with testimonial video messages.

Clearly, these are not genuine testimonials, but actors playing a part.  Each tells their tales of woe regarding losing tonnes of cash with binary options trading software that hasn’t worked for them.

Prizm tech is appealing to people who have already been scammed and potentially lost thousands – to jump right into their “legit,” trading software.

prizm testimonials

But…The Creator Doesn’t Exist.

The creator of Prizm tech “Richard Squire,” is not actually a real person, the person you see is an actor, so right off the bat there doesn’t seem much faith you can put into what is being said.

“Richard” claims that Prizm was first created in 2007.  This is just another lie, because Binary options trading didn’t even exist in 2007.

prizm richard squire scam

The biggest load of balls, is that they claim the Prizm tech success is largely due to an API key individual to you…

Well, this is just trying to take advantage of peoples lack of knowledge when it comes to binary options trading.

One of the testimonials actually says:  “When Richard showed me the secret to API keys…”

This is incredible, because API keys just have absolutely zero to do with this.

You can check out the Wiki definition of an API key below…

api key wiki prizm scam

Binary options trading has absolutely nothing to do with API keys, it is completely irrelevant and has nothing to do with making Prizm tech a secret special system.

The fact that they’re trying to make you believe that Prizm tech is a successful software due to API keys, would just make anyone with even a limited knowledge of binary options trading realise that this is nonsense.

Richard specifically says that the API key is the MAJOR reason that auto trader software has not worked in the past!!  Holy Baloney Batman!!!

He also claims that Prizm was the “first auto trading platform of its kind,”  In fact, he says every single auto trading software ripped off Prizms original source code.

BUT, he says that these cheap imitations all fail because they’re missing out on a critical component.

Can you guess what that critical component is?!

Well, it’s those darn API keys of course!   HA!

prizm scam api key

More Prizm Tech Lies….

Richard claims he had to go to court because other, “big boy developers” claimed that Prizm was derived from their own software.  But this is just more storytelling.

So, Richard is not the creator of Prizm….there was NO court case and it was not created in 2007.

Is there any truth at all behind this business!?

But Wait: There Is More!

Richard also claims that his court case cleared, but under the condition he could ONLY distribute Prizm so that is was freely available and that he couldn’t profit from it!

All these auto trading robots products claim to be “free,” but you will always have to invest at least $250 to get started trading.

Who ever did create Prizm in reality, will be profiting very nicely from this, there is no question about that.

One Good Thing?

A good thing, if you want to see it – is that Richard says that although the software is free, you will need starting funds.

He says the cash won’t be rolling in right away and explains how the 78% success margin is calculated over a large number of trades.

Basically, he’s saying you may not win initially, need to invest and should expect some losses – which is at least far more realistic than a lot of these websites suggest.

Binary Options Trading: Gain Knowledge First!

Binary options trading is not a scam but shouldn’t be something you just stumble into with zero knowledge.

You need to do your homework, read up on it and learn about it before you start ploughing your money into any auto trading robot software!

Make sure you’ve done your research before you even attempt it – binary options trading is not a quick way to make thousands of dollars with zero effort – if you go into it thinking in that way, you will lose your money.

Is Prizm Tech A Scam?

I can’t say that the Prizm tech software doesn’t work, because I haven’t invested in it and would not trust this company.

It’s quite clear that everything about the business itself is a lie.  If you want to go into binary options trading, research it first and do not put your faith in any business that is flat out lying to you.

Beyond Binary Options Trading…

As many of you know, I review various ways you can make extra money online, from small to more significant and I always give my honest opinion when it comes to products or services online.

So many things out there, are just not worth your time, nor your money.  But plenty of marketers will try and convince you that they are exactly what you need to make money online, in order to make money from commissions or sales.

Beware of some positive reviews –  I’ve seen several similar reviews about automated binary trading software claiming that it’s impossible they could be scams, which is the biggest load of BS ever.

These sites dishing out the positive reviews, will be making plenty of money by supporting these sites.

Because, no matter how many negative some of these types of software have,  plenty of people still want to buy into it because they promise a great deal.

Crucially, they always claim they’re completely fine for beginners… a big warning sign!  Profiting from binary trading is not something you should go into with no experience and it is a high risk venture.

That being said, many of these sites will be profiting from affiliate marketing and that in itself is something I can recommend if you want to make money online.

Affiliate marketing is a low-risk venture, you simply recommend products or services to your readers and if someone buys that product, you can generate a commission.

Unfortunately though, this leads some people to recommend all kinds of crap, just because it’s profitable for them, rather than it actually being good.

(take note: to get started affiliate marketing, you need a website or blog and it’s super easy to create one these days.  Related post: how to start a free website today).

If you’d like to learn more about how you can get started in affiliate marketing, then there is one main program I always recommend.  Read about it here.

Have you been caught up in a Binary options trading scam?  Let me know in the comments!

All the best…

nat-signature

 

 

wealthy-affiliate-program-banner

 

About the author

Nat

Nat is the creator Ragstoniches.com.  Read more about Nat here...

View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *

*