This comprehensive Spectrum 7 review will discuss factors that make us believe that this system is nothing but a scam. There are heaps of binary options trading that have been launched and introduced every day and most of them are not legit or is considered fraud. One of the newest and hottest fraud software today is the Spectrum 7 developed by Derek Folsom. Similar to any other scam application it is represented, exemplified and epitomized by video presentation found at their spectrum7.co website. Keep in mind fraudsters are utilizing the same theme in creating video presentations to entice, attract, encourage and persuade new traders to sign up and try the scheme.
We feel obligated, necessitated and compelled to create, come up, initiate and develop this Spectrum 7 review to prove, attest, verify and uphold that Spectrum 7 is scam. Before you make further action and make that vital decision it is best that you read this Spectrum 7 review from start to finish.
Best Reliable Schemes | Click Here
Before we go any further let us discuss first how Spectrum 7 works. According to the scammers behind Spectrum7.co it is one of trading apps that is regulated through a reliable and independent third party provider that is commissioned by the Market and Regulatory Services Directorate General, part of this organization is the European Commission. In order for a system like Spectrum 7 to get the proper licensing it needs to undergo a rigorous screening process that usually take up to two years. If you check out their website spectrum7.co they claim that it is 100% free.
At present they are on stage 2 of their beta testing process which means instead of earning they are looking for verifiable and sizeable groups that can verify their claims. As soon as they have completed their beta testing they will move to the Live to Market stage in which they will offer the Spectrum 7 licenses for $3000 per month. The algorithm that Spectrum 7 operates is very versatile and is being updated continuously through servers in Moscow. At present their algorithm supports various assets like the following – Eur/USD, GBP/USD, EUR/GBP, EUR/AUD, GBP/JPY and others.
According to the developer of spectrum7.co they strictly adhere to the regulation policies that the brokers they use should have clearance from TradeSec.org. The scammers behind Spectrum 7 app also claim that they do not receive any compensation for referring clients to these brokerage firms. If the regulatory commissions find out that they are doing so they will be subjected to punitive fines and their license will be revoke.
Spectrum 7 is Scam – Three Evidences
During our investigation we have found out that Spectrum 7 is a binary options trading app that promises to help traders earn over $1500 each day for investors. The platform is developed by Derek Folsom and he claims that with the help of his software a trader can earn around $100,000 per month. In this industry promises are a dime of dozen, so proving them is essential.
Official Website | Spectrum7.co
This honest Spectrum 7 review will let you know if Spectrum 7 system has enough amount of evidence. The Spectrum7.co webpage is very annoying and frustrating. Pop up keeps on showing up every 10 to 15 seconds. The layout ofspectrum7.co lacks follow-through which is the common problems with many binary options products.
First Evidence – Derek Folsom Unknown Identity
Upon the review, evaluation, assessment and scrutinizing Spectrum 7, Derek Folsom the supposed CEO of Spectrum 7 has no reputation in the binary options industry and is a fictitious, fake and invented character created by scammers. If the character or personality is real, then why he does not provide any information about himself and about the trading platform? It’s because the identity is created only by the scammers behind this platform. Based on the promo video in spectrum7.co the service is live since 2015. However, upon checking the spectrum7.co website was only registered on March 8, 2016 and this is quite conflicting and confusing. Also, the fact that Derek Folsom is completely anonymous and the only information available about him is related to Spectrum7.co is also questionable. Additionally, if he was the real developer of this innovative software, why he was not able to provide any details about the system algorithm?
Second Evidence – Fake Beta Testers
As mentioned in their promo video the software was introduced only in 2015 but this questionable since upon checking in who.is spectrum7.co was registered only this March 2016. Thus, debunks most of the claims done by the beta testers. At the end of Spectrum 7 promo video there are some testimonials. There are real individuals who claim that this service actually works and they are generating money with it. There is nothing wrong with it, the question are these individuals reliable? These are paid actors hired by the scammers behind this application from an online marketplace known as fiverr.com. In this website you can hire all sorts of different individual to do all sort of various jobs for you. As the name implies the minimum payment is $5, so you know by now that these testimonials are all fabricated. In their spectrum7.co webpage they keep on mentioning that it is verifiable and undeniable proof. But the truth is there isn’t any.
Most of the fraud system uses the same technique in encouraging traders to sign up and hoping to earn a lot through the help of this application. Even if the users are familiar with this dirty tactics the fraudsters are still using it thinking that it is one of the most effective strategies in enticing people.
Third Evidence – No Outside Endorsements to Support the Software
Every time we investigate a binary option system we always check the social media networks and the search engines for any industry or day-trader feedback. That is the most essential reputation builder for any new service. If the social media networks find this trading system a scam then it will be most likely considered as scam. In this situation, we came across several negative reviews and there are lots of bad feedbacks coming from the ordinary day-investors. That strongly confirms that you should never trust this application. In their spectrum7.co webpage, they mentioned that they adhere to TraderVerify’s strict regulation to provide you with proof that the app can really generate money.
The company claims to be supported by different organization when in reality not a single firm support them and confirm that their platform really works. You can search using search engines whether there is really an organization that support and endorse Spectrum 7. This review is trying to find at least one that will affirm the effectiveness of this scam but we failed to find one. If this is legit and authentic we will not have a hard time finding something about its performance.
If one scroll down in Spectrum 7 website you can see some awards and seals these were verified but all of them were lies. The primary purpose of having it there is to make the application looks legit and authentic. The results were not verified by a third independent party. All these seals and awards are all fabricated.
Spectrum 7 Review Conclusion
The Spectrum 7 is scam and there is nothing into it thus this comprehensive Spectrum 7 review suggests that you should never sign up with it. There is nothing extraordinary about the application whatsoever. Their spectrum7.co webpage is filled with deception and lies trying to trick traders. Honestly, Spectrum 7 is very well created application. It has beneficial capabilities and is very user friendly. For those who are interested but have some questions the customer service can help those who want to try it out. If only the system is legit then there are lots of people who will become rich no matter where you are in the world.
Submit Scams Awards 2016 | Award Winners – Click Here – Tested Schemes by Submitscams.com
Time will come that the binary options industry will become stricter and will get rid of the fraudsters but until then we need to be very cautious with where we invest. This in-depth Spectrum 7 review recommends that you check out the top binary options system so you will know whom to trust.
If you find our Spectrum review helpful feel free to share it with other traders.
Please help us to warn people about internet frauds by reporting them: Submit Scam.