Do you feel like making money with no more stress? You need to join us now to be the next person to talk about how to make millions online on TV. If you find yourself doing an online business, you will always be one step ahead of others making more money; this is only possible if you are using the best software. The best software you can use is the News Spy Software. This High-Tech Software allows you to earn more just like the rich men.
- The News Spy is NOT a scam
- Profit Ratio 89%
- Easy & Fast Withdrawals
- Works on Phone and Computer
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The design of this software is such in a way that it will scan hundreds of relevant news sources every time of every day – our specialists design this software to predict the market trend. It gives you state-of-the-art high-quality information while showing where and when you can make money online. This tool makes it easy to make money online by just working for several minutes daily from anywhere in the world once you register. Even though this app performs so much function, we are giving it out for free to ensure quality results and to limit the number of licenses we are sending out. This means that you need to take action now and register before our free promotional licenses run out.
Our rating: The News Spy is not a scam
Visit the official The News Spy Website
No name, no address, no number
After doing our usual research we come across disturbing, but not unexpected, results. It turns out that The News Spy is part of probably the most popular scam out there. Precisely through such websites, armed with tempting video trailers, traders are convinced to register and carelessly give away their address, phone number and email. Minutes later that same personal data is sent to brokers as “leads” and the registered traders begin getting phone calls from unregulated forex brokers like FX Stock Broker or Euro-Crypto, urging them to invest. Cheap traffic is actually the product “News Spy” and their “expert panelists” are providing – not some state of the art and groundbreaking analysis into the depths of the financial world.
Sure enough, after registering with them we are not provided with the purported “information-analysis” product, but get redirected to the website of a forex CFD brokerage Prestige FM. In most cases such websites have partnerships with a number of brokerages to which they redirect registered clients.
Here’s How The News Spy Will Scam You in 3 Steps
As I said.
This is basically a copycat of the classic binary options scam.
Watch this video to see how it works:
I always like to test things out first-hand to make sure that I’m not missing anything.
I actually went ahead and joined The News Spy.
And I can confirm that the whole thing is a complete scam as I expected.
Here’s how The News Spy scam works.
1: Deceptive Website to Gain Trust
I have to hand it to these pieces of dirt.
They really do know how to throw together a legitimate looking website.
However, everything that you see on The News Spy’s website is completely fake.
From the carefully edited ‘above-the-fold’ video.
To the phoney endorsements from reputable sources like ‘CNBC’.
And even going as far as paying actors for their video ‘testimonials’:
The real aim here is to capture your email address and your phone number using the form.
So they can pressure you into making a deposit with the scam broker.
And there’s also the added risk that your details will be sold on to other criminals.
Who may add you to a ‘sucker list’.
So that you can be retargeted with recovery room, phishing, and other nasty scams.
2: Tricked Into Depositing With Scam Broker
This is what the whole scam boils down to.
Getting you to deposit money to an unlicensed broker that’s going to do everything they can to take your cash.
When I joined up, I was redirected to the Kruger Exchange broker.
And right away I was asked to deposit 220 Euros to begin trading.
Because in addition to my mobile phone exploding with pressure calls from this outfit.
I even had one of their ‘agents’ hounding me in the chat-box:
Kruger Exchange Reviews – FCA Scam Warning
I looked for some Kruger Exchange reviews online.
And not only did I discover a slew of negative reports from customers.
I also found an official warning from the FCA:
‘Marketing Essentials t/a Kruger Exchange Ltd: ‘We believe this firm has been providing financial services or products in the UK without our authorisation… ‘Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us. ‘However, some firms act without our authorisation and some knowingly run investment scams. ‘This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation’.
Source: FCA – Warnings: Marketing Essentials t/a Kruger Exchange Ltd
Note the Address to Avoid Similar Scams
It’s quite common for multiple scam brokers to all share the same ‘business’ address.
This can quickly help you link dodgy brokers and stay out of trouble.
The same FCA report cites that the contact details for Marketing Essentials t/a Kruger Exchange Ltd are as follows:
1111 Sofia, Shipchensky St. 43 A, Bulgaria.
07418442870; 07520644243; 07520644248; 07520643986; 07520665812; 07520665867; 07520643578.
Don’t Be Fooled By The Fancy Software
You’d be forgiven for thinking that the trading interface provided by the Kruger Exchange is legit.
However, my research strongly indicated that the platform they are using is so widely used by shady brokers that it’s been dubbed ‘Scamex’.
3: Your Money is Taken
I went in search of some concrete proof that Kruger Exchange is a scam broker.
And I found plenty of it.
This forum post on Forex Peace Army reveals that Kruger Exchange withdrew more money from a user’s bank account than requested.
With further posts stating that one user had their £5,000 withdrawal repeatedly stalled.
The Kruger Exchange also appears to use the ‘in-and-in’ technique.
Where they claim to match your deposit with ‘real’ money.
The only problem is that you’re never allow to withdraw it.
And it looks like they’re not against changing their domain name and ignoring emails either:
Image source: FPA – Forex Scam Warnings and Traders Court: ‘Scammed by KrugerExchange.
Tips for Handling the App
For a few investors who are still not sure for trying the app, the following words of caution will help:
- Tiny investment to start with is the best investing practice. Starting with the minimum amount is not a big deal. Even if you are not sure of avoiding losses, a minimum investment is not an issue. You need not avoid the entire opportunity of earning huge profits. As far as investment is concerned, fear prevents many even to try a chance. When the risk is only a minimal amount, this fear becomes unnecessary.
- When profits start coming, the investor shouldimmediately withdraw 25% of the profit. Thus your entire money is not going to stay outside. You are going to withdraw a portion of it and thus keep it safer with you.
The presence of bankers in the system indicates that this app is not a scam. We are concluding this based on information from various sources like websites, Bitcoin trading is done based on news analysis here. The analysis is done by experienced professionals.
The advantage of trading based on guidance from analysis experts is numerous. The profits will be more. The investor can also avoid losses by trading at the wrong time. Numerous investors sold their holdings in panic when there was a drop in prices.
However, they lost their opportunity to earn huge profits by being a little patient. Instead, they incurred a loss due to the absence of expert guidance. However, you can rely on this app since it shows numerous testimonials where investors are saved from wrong trading decisions.
|Robot||The News Spy|
|Official Website URL||www.thenewsspyapp.com|
|Support Types||Email, Live Chat|
|Minimum 1st Deposit||$250|
|Open FREE Demo||Open FREE Demo|
|Deposit & Withdrawal Methods||VISA, Master Card, Maestro, OK Pay, Neteller|
|Number of Assets||50+|