FastCash Biz Scam? Yes It Is In my Opinion!
Is there a shortcut to unlimited wealth with the FastCash Biz? They offer an automated system that uses an advanced algorithm to provide you with recommendations for Binary Options trading. You will find many “honest” reviews for this money making opportunity online. My subscribers have requested that I take a look into this money making opportunity. Here is what I have found.
FastCash Biz Scam Claims
Just watch the money start to fill your new account!
Our first top 10 beta testers made over 1 MILLION DOLLARS within 90 days.
You too could see the same type of success, but you’ll never know unless you take action right now.
1 spot left sign up now!
If you do not signup now, it will cost $50,000 per month to gain access!
Here is how this money making opportunity is presented:
FastCash Biz Scam Reality
1000 5th St., Suite 200 Miami Beach, FL 33139
The FastCash Biz is located at a virtual office location in Florida. It costs as little as $50 per month to have an office there.
David Graham and Madison Clark are listed as the owners of the FastCash Biz in their promotional videos. Both of these people are actors. The real owners of this company are hidden from you on the FastCash Biz website.
If you go to some of the prominent Binary Options review sites, you will find links to the FastCash Biz that look like the following:
http://fastcash . biz/inviteonly.php?affClickID=2725736xxx
The reason you are seeing so many “honest” positive reviews for the FastCash Biz is they has an affiliate program that pays you a $250 commission to get someone to signup and fund their account. These reviews are not honest. In most cases these reviewers do not reveal that they are affiliates to this money making scam.
Here is the experience of one victim of this scam:
I signed up with Fashcashbiz on Monday October 5, and I did not get access to their software yet. I was routed to Glenridge Capital and I made my deposit of $250 there but when I asked Glenridge Capital why I did not get access to the fastcashbiz they told me that fastcash was a third party company to them and they have no way of getting in touch with them to find out why I did not get the access to the software as promise. Does anyone else have this problem with Fastcash? Also I cannot get in touch with fastcash customer service at all. I tried sending messages via email but none of that works. Does anyone have a customer care service number for Fastcash or a working email address please let me know.
In my opinion, the real goal of the FastCash Biz is to make commissions from you by signing you up with 3rd party Binary Options companies. In the USA they have you sign up with Glenridge Capital. Glenridge Capital is not a registered Binary Options company in the USA and is an offshore company.
Investing with offshore companies offering Binary Options should be avoided. Once offshore, it can be nearly impossible for you to recover your money.
A Binary Option is a type of options contract in which the payout will depend entirely on the outcome of a yes/no proposition.
The yes/no proposition typically relates to whether the price of a particular asset that underlies the Binary Option will rise above or fall below a specified amount. For example, the yes/no proposition connected to the Binary Option might be something as straightforward as whether the stock price of XYZ company will be above $9.36 per share at 2:30 pm on a particular day, or whether the price of silver will be above $33.40 per ounce at 11:17 am on a particular day. Once the option holder acquires a Binary Option, there is no further decision for the holder to make as to whether or not to exercise the Binary Option because Binary Options exercise automatically. Unlike other types of options, a Binary Option does not give the holder the right to purchase or sell the underlying asset. When the Binary Option expires, the option holder will receive either a pre-determined amount of cash or nothing at all. Given the all-or-nothing payout structure, Binary Options are sometimes referred to as “all-or-nothing options” or “fixed-return options.”
Do not deal with internet companies that offer Binary Options that are not registered in your country. Here are three ways these companies scam people:
1. They refuse to credit your account or reimburse funds after accepting your money. You deposit money into your Binary Options trading account and are then encouraged by “brokers” over the telephone to deposit additional funds into your account. When you attempt to withdraw your original deposit or the return you have been promised, they cancel your withdrawal request, refuse to credit your account, or ignore your telephone calls and emails.
2. They collect information such as credit card and driver’s license data for identity theft purposes. If a Binary Options Internet-based trading platform requests photocopies of your credit card, driver’s license, or other personal data, do not provide the information.
3. They manipulate the Binary Options trading software to generate losing trades. The Internet-based Binary Options trading platform manipulates the trading software to distort Binary Options prices and payouts. For example, when a trade is “winning,” the countdown to expiration is extended arbitrarily until the trade becomes a loss.
– Source Cftc.gov
The FastCash Biz claims to offer an automated system but when you check their declaimer this is what they have to say:
Success in ANY money-making opportunity is a result of hard work, time and a variety of other factors. No express or implied guarantees of income are made by FastCash.
Here is how they explain how they can offer a money making opportunity where everybody wins:
How can the broker finance all these earnings if everybody wins?
Not all traders use trade alerts or apps like this one. Actually, a large number of users do not use supporting tools, and they are the ones more likely to suffer losses. – Source FastCash Biz FAQ
In my opinion, they are not telling you the truth.
In fact, they are setting you up to have your Binary Options account canceled:
18. Automated and Semi-Automated Trading Mechanisms
18.1 We, at Glenridge Capital, strictly prohibit the use of automatic or semi-automatic trading mechanisms such as external bots and automated traders developed in order to assist you with your trade.
18.2 If you integrate an automated or semi-automated device on the Glenridge Capital browser or platform in lieu of your personal interaction or utilize a backdoor API; we will consider your activity system abuse and we will nullify your position or cancel your account with Glenridge Capital. -Source Glenridge Capital Terms And Conditions
FastCash.biz U.S. Government Required Disclaimer
U.S. Government Required Disclaimer – Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. – Source FastCash Biz US Desclaimer
Free to signup. You have to place from $250-$1000 in a 3rd party Binary Options account.
They offer no products for you to sell.
You earn money by following the recommendations provided on your members page.
There is no guarantee that you will earn any money using the techniques and ideas in these materials. – Source FastCash Biz Disclaimer
It is free to signup for this program, but the money that you deposit into the 3rd party Binary Options account linked with the FastCash Biz can be very difficult to get back.
Glenridge Capital Terms
Account holders will be subject to a 42.00 USD/GBP/AUD/CAD/EUR/BRL withdrawal fee.
If you accept a bonus, you will not be able to take your money out unless you risk your money by trading.
All bonuses are subject to withdrawal terms and conditions. You may be required to submit necessary identification documents or proof that you meet the requirements of the offer. Additionally, the trader must execute a trading volume of the (bonus amount + the initial deposit) x 30 in order to be eligible to withdraw funds. – Source Glenridge Capital Bonus Terms & Conditions
You can’t just get your money back like they claim.
FastCash Biz Scam Conclusion
In my opinion, the FastCash Biz is nothing but a marketing scam. The real goal of the FastCash Biz is to make commissions from you by signing you up with 3rd party Binary Options companies. They offer high risk trading as an easy money making opportunity. They make you think you can get your money back, but you can’t. They are setting you up to have your Binary Options account canceled by claiming to offer an automated system with a 3rd party company that does not allow automated systems. I would avoid the FastCash Biz money making opportunity.