CogniTrade purports to be a cutting-edge “cognitive computing” software program that can predict the movements of the binary options market with 100% accuracy.
What Is CogniTrade?
According to the company's promotional video, CogniTrade was founded by Cameron Doyle, a former IBM engineer who worked with the tech company in designing cognitive computing solutions. However, there is no verifiable information regarding Doyle and his former employment.
The website itself is registered anonymously through a private domain registration service. The site lists September 2016 as its registration date.
Access to the CogniTrade software is free. However, in order to use the software to make trades on the binary options market, you will be required to make a minimum deposit into an affiliate binary options broker.
The broker and the software work hand-in-hand, with CogniTrade identifying assets to trade and then the broker placing trades on your behalf with the funds deposited to your broker account.
The opportunity that CogniTrade purports to provide is to create vast amounts of passive income with just a small investment – typically around $250.
CogniTrade is supposedly 100% reliable and can generate as much as $1,500 a day in profit for anyone who uses the cutting-edge software, thanks to the power of cognitive computing.
We hate to burst your bubble, but CogniTrade is a complete and utter waste of time and money.
While it's true that the binary options market can lead to massive monetary gains, it has also taken its share of fortunes as well.
The market is incredibly volatile, and it's statistically impossible to design an auto-trader program that i 100% reliable. In fact, most legitimate auto-traders are closer to perhaps 75% or so – and that's often seen as an unrealistically high claim!
How do we know that CogniTrade is a bogus piece of software? It's very simple – there's no proof that it can do what it says it does.
The testimonials given in the introductory video are from paid actors sourced through Fiverr, a favorite resource for scam artists looking to clothe themselves in a false sense of legitimacy.
Additionally, the so-called creator and CEO of CogniTrade, Cameron Doyle, is portrayed by an actor in the video as well. It's much more likely that “Cameron Doyle” was an identity that was completely fabricated in order to promote this software.
So who is behind this software? It's impossible to know for sure, as the website is registered anonymously. However, with the prevalence of binary options scams, it is likely one of just a few serial scammers that work with specific binary options brokers as affiliates to find them new customers.
The scam works like this: a disreputable broker offers a referral fee for every new account opened up through an affiliate program.
Affiliates then entice individuals to sign up with these brokers and make opening deposits by promising them untold riches through the use of a “cutting edge” auto-trader bot that simply doesn't work.
When these credulous individuals fall for the scam, the affiliate gets a portion of that initial deposit as a referral fee.
At this point, a few things can happen – but none of them are positive for the customer.
Relying on the auto-trader bot is routinely disastrous, and that initial deposit is usually gone within a week if not 24 hours, and brokers who charge a percentage fee for each trade placed still get that fee even if the trade fails to make money.
Of course, that's if the broker is actually making trades on an individual's behalf in the first place – some unregulated, unlicensed brokers simply make off with a customer's money completely.
Either way, you're not going to get a cent if you get involved in a scam like CogniTrade. You're better off finding a reputable, licensed broker and simply flipping a coin.
Avoid CogniTrade at all costs. Its core function is to separate you from your money as quickly and efficiently as possible – nothing more, nothing less.