The Guy Cohen Binary Options Scam, Watch Out!
I’ve never met him but based on the information available on the web I’d have to say he looks like an guy, at least at first. He’s been a trader for decades, focusing on options and how to profit from them, with a noticeable interest in software. 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. It became clearer, however, when you begin searching deeper for more information. It seems that Mr. Cohen may in fact be selling options scams, but not binary options scams, at least not out in the open. 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. Up until seeing that page I was on Guy’s side, once I saw that I began to smell scams in the air.
What Is The Guy Cohen Binary Options 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. Still another could be one of his trading systems. None to alarming in the binary world but what is alarming is that you will also find links to what I consider to be a true scam. Guy might not be the perpetrator but folks are using his name to get noticed.
Of course, on the web page itself there are no names, no addresses and no real information but there is a guaranteed get-rich-by-trading-this-way sales pitch that is unmistakeably a scam. 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.
What this page turned out to be is a stupid pitch for the Trader Sentiment bar found on just about all of today’s top platforms. You know, the one that say 54% bullish and 46% bearish or whatever? The whole strategy is based on using this stupid, broker provided indicator to take signals for 60 second trading! No wonder it’s so easy to use, it’s based on total BS, not to mention that those indicators are free on just about any broker you go to.
My Last Thoughts On The Guy Cohen Binary Options Scam
I’m not sure what to think about Guy Cohen. Is he a scam, or a scammer, I don’t know. On the surface he appears to be legit, under the surface I get the feeling he’s a shyster. His involvement with binary options is circumstantial at best so he may be the victim of marketers using his name to piggy back their scam into search results but as yet there is no proof. Regardless, there is a scam here so be careful. If you find yourself looking at a ridiculous sales pitch for a 60 second 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.