Is Fast Cash Biz a Scam?
In this review I want to take a look at Fast Cash Biz. Is Fast Cash Biz a scam, or is it a legitimate way to earn money?
If you watch the video before you choose to join Fast Cash Biz you see Madison Clark and David Graham, the founders, getting off of their private yacht, into a Bentley, onto their private jet, and then into their mansion. They claim they made $55 million in the past 3 years.
The video starts out like most scams do. It flashes wealth and riches in your face and in this case tells you that you can have the possibility of earning unlimited wealth. And of course you can get lots of this and fast. The best part is you don’t have to do a thing. It is all done for you.
They even show you a customer testimonial to prove it. But if you ask me the whole thing is scripted. The customer ends up making a around $5000 in 5 minutes or so. Its ridiculous.
Ok, so Fast Cash Biz has scam written all over it but lets take a deeper look into what Fast Cash Biz is all about and if it seems plausible.
How It Works
Fast Cash Biz uses what is called Binary Options Trading to make you money. This is when you would buy an asset (gas, gold, stocks, etc), hold onto it until a fixed maturity time, and receive a fixed payout if the stock is above the paid price. Let me give you an example: You buy XYZ Corporation’s stock for $100 with a binary payoff of $1000. You hold onto this stock until the fixed maturity date. Then if the stock is trading above $100 you will receive the $1000 payoff. If it is below the $1000 you won’t receive a penny, and if it is right at $100 you will just get your money back.
These options expire very quickly, usually between 15 minutes to an hour. So there is potentially fast money and the amount can be great. But it can also be a fast way to lose.
So with Fast Cash Biz you begin by investing a minimum of $250. Then you sit back and let their binary trading robot do all the work for you.
Fast Cash Biz’s Claims
Ok, so they tell you that they have created an ingenious algorithm that can somehow identify the binary options (stocks in particular) that will go up and make you money. They claim that this is accurate 100% of the time and always wins.
First of all this is absolutely impossible. Not even the best binary options traders out there win 100% of the time. There is so many variables that go into the different fluctuations in the markets of different stocks it is unrealistic to believe this. The best binary options traders are studying the market constantly and this is what you have to do. Otherwise it is a gamble.
But they have created this automated system that takes into account every little variable that effects the pricing of different stocks. Their software programs is a trading robot that wins 100% of the time. I mean wow, I don’t know what to say. This claim is so ridiculous it is funny.
What Broker Does Fast Cash Biz Use?
The broker that is used in these transactions is very important. They are the ones that are actually handling your money. They are the ones buying your binary options so it is very important that they are trusted. There are thousands of stories out there of brokers that won’t give you your payouts and even steal your money.
So what broker does Fast Cash Biz use and are they trusted? Genridge Capital
Glenridge Capital is based in Ireland and just opened last year (2015). To make things worse they are not licensed by CFTC, ASIC, FCA or CySEC, which include the major broker licensing firms out there. See list
Unlicensed brokers are know for fraudulent activity. The CFTC lists these as the top problems investors face when using unlicensed and unregulated brokers:
- Refusal to credit customer accounts/reimburse funds
- Identity theft
- Manipulation of software to generate losing trades
When it comes to unregulated brokers it could be anyone you are handing your money too. With a regulated licensed broker there are very few complaints.
So as for Glenridge Capital, this is a definite no. They are very new, they are based outside the U.S., and most importantly they are unlicensed.
Ok so lets review here.
Fast Cash Biz’s founders, Madison Clark and David Graham, claim to have developed software that uses an algorithm they developed in order to trade binary options automatically. In fact if you have seen their video they claim it works 100% of the time, so you can only gain money.
They use a broker, Genridge Capital, that is unlicensed by CFTC, ASIC, FCA or CySEC.
And finally, to start you begin by investing $250 or more.
What should really stand out to you most is that a winning percentage of 100% is ridiculous and their broker is unregulated. Thats all I have to say. If you were interested in using Fast Cash Biz I hope I convinced you otherwise.
And the verdict is… SCAM
If you have a review of Fast Cash Biz or a question be sure to leave it in the comment section below.