The Guy Cohen Binary Options Scam, It’s Not What You Think!

I’ve never met him but based on the information available on the web I’d have to say he looks like an upright kind of guy. He’s been a trader for decades, focusing on options and how to profit from them, with a noticeable interest in software and a penchant for writing books. According to his bio over the years he has helped exchanges such as NYSE Euronext and ISE with options software and has since branched into proprietary trading systems. Along with several books, all available on Amazon, Guy has several unique trading software packages, some including his own OVI indicator. His books cover a range of topics of interest to traders, the one most likely to interest binary traders is the Insider Edge, a study of how to follow industry insiders to wild profits.

To be honest, it is hard to understand at first why this fellow has popped up on the binary options radar. He is not selling binary systems nor do his books attempt to teach technical analysis, or binary options trading. The scam, it turns out, is being played on him too. It seems there are some bandit marketers playing off his name like so many others scams we’ve seen. They use his credibility, for whatever that’s worth, to lure in victims with the promise of fast cash and quick profits. The problem for Mr. Cohen is that his own products are marketed in a way that he himself terms as “colorful and aggressive” and are built on what we in the binary world have come to regard as red flags; proprietary trading systems and indicators with slick names designed to help you beat the market. One of the systems he peddles on his website is the “illuminati” system, a system based on codes from an ancient society that secretly rules the world.

Update February 2017: Due to our diligent work uncovering these scams many of the websites using Mr. Cohen’s name and images have been taken down.

 

 

Who is The Guy Cohen Scam, and is it a Scam?

If you go searching for Guy Cohen and Binary Options, as many of us could easily do, you will come up with a few interesting things on your search engine results page (SERP). One or two of them will be legitimate links to information about Mr. Cohen and the books he has written. One could be links to his trading club where he provides services at what I consider to be high fees, nearly $2,000 for some of the software packages. Still another could be one of his trading systems and none of these too alarming when it comes to binary options. What is alarming is that . there are true binary options scammers using Mr. Cohen’s name to make their software/systems look like a Guy Cohen system to web-surfers and search engines alike. One of these is  a guaranteed get-rich-by-trading-this-way sales pitch that is unmistakeably a scam called the BinaryCode. It is based on “carefully concealed bankers techniques” that could could earn you $1,200 a day, and you only have to trade for 3 hours. What’s really funny is that when you start to read the pitch you’ll see examples of where the system clearly didn’t make $1,200 a day, and that the English is horrible. I got the feeling a monkey wrote it because it’s really bad copy. The gist is that it is based on statistical analysis and simple math using popular advice to copy what others are doing.
Binary Code by Guy Cohen

 

What is alarming is that there are, or were, true binary options scammers using Mr. Cohen’s name to make their software/systems look like a Guy Cohen system to web-surfers and search engines alike. One of these is a guaranteed get-rich-by-trading-this-way sales pitch that is unmistakably a scam called the BinaryCode. It is based on “carefully concealed bankers techniques” that could could earn you $1,200 a day, and you only have to trade for 3 hours. What’s really funny is that when you start to read the pitch you’ll see examples of where the system clearly didn’t make $1,200 a day, and that the English is horrible. I got the feeling a monkey wrote it because it’s really bad copy. The gist is that it is based on statistical analysis and simple math using popular advice to copy what others are doing.
 

The Real Guy Cohen Website

 

 

My Last Thoughts On The Guy Cohen Binary Options Scam

I’m not sure what to think about Guy Cohen. Is he a scam, probably not but I don’t think I’ll be joining his club. He appears to be legit, but it doesn’t matter because his systems aren’t for binary options. His involvement with binary options is circumstantial at best, in the end I think he is the victim of marketers using his name to piggy back their scam into search results. Regardless, there is a scam here so be careful, whether it is the overly priced Guy Cohen systems or one of the cloned binary options scams. If you find yourself looking at a ridiculous sales pitch for a 60 second binary options strategy guaranteed to make you $1200 a day in only 3 hours that is really easy to use then you may have hit upon the very scam I mean. Don’t be fooled.
 

VN:F [1.9.22_1171]
Rating: 0.0/10 (0 votes cast)
VN:F [1.9.22_1171]
Rating: 0 (from 6 votes)