The short answer is it's another in a long list of binary options scams. Every time you hear the word binary options, it's a scam. No exceptions. They all use non-stop bullshit videos you can't stop once they're in motion. This is a sure signal to you that it's a scam. They also make outrageous requests for upfront money and more outrageous claims of how much you can make with their system. Orion Code is no exception.
Just released in October of 2016 this is a complete binary options automated trading platform. IOW (in other words) a scam!
How The Binary Options Scam Works
Just so you know for future reference on this topic, there is legislation on the way that would ban all trading in binary options for overseas customers. That is because a lot of these companies are domiciled in places like Israel. Pretty soon you won't be able to sign up for these scams because now the Israeli government is going to step in and stop overseas customers access to this type of internet gambling. They will just keep moving around like a true internet pirate.
This is what Gordon Pape wrote about binary options in a 2010 addition of Forbes; "binary option websites are gambling websites pure and simple" and said "this sort of thing can become highly addictive... no one no matter how knowledgeable, can predict what a stock or commodity will do in the short term".
I listen to what Gordon says and he was one of the first financial gurus I followed starting back in the 1980's. Gordon also has observed that even from a gambling point of view binary options are still a poor investment. You have to be right 54.5% of the time just to break even on your money. Even that is near impossible for the average Joe or Jane to achieve.
Traders place a bet on whether the price of the stock or currency will be trading at higher or lower a price at a certain time. If you believe it will be above, then you buy, if you believe it will be below then you sell. The price of the option is always under $100. This is what makes them attractive for gamblers.
What's the Pitch?
Every time you see these ads it's crap. You'll be asked to deposit money then more money. Rinse and repeat. More emails and harassing phone calls are just around the corner for people who divulge that information freely.
Let's open an account and see what pops up, yup here it is more glitz and flash. This is very common on binary options web pages. Nothing new here to see.
They are NOT brokers. They are online bucket shops that only operate and provide an automated system for executing your trades and taking your hard earned cash away from you. They immediately want you to deposit $500 into your account after you have made your initial deposit of $250. They want you to make the big bucks as soon as possible so getting you to deposit more is first up on the broker's agenda. The reason is, every trade costs exactly $100, no exceptions. So, $250 is not an even trading number. They want you to lose the whole $500 and then keep adding to your account. All the while telling you, your initial deposit is still available but we have more trades waiting for you now. So, hurry!
Edward Robinson is the man behind both Orion Code and Quantum Code.
Once you open an account you are automatically linked to both programs. No need to get all bent out of shape and scream that you have seen this all before, because it's really common in the binary options world. This is why it has such a scammy and bad reputation. They share all the same video presentations to obviously save on commercial fees, they just change the name of the program in the promotion.
Just be advised it's the SAME program!
Once you open your account you will be given a client # and be welcomed by your bucket shop, sorry I mean broker. In the case of Orion Code and Quantum Code it's called FM Trader.
My Final Opinion
This is a gambling 'Get Rich Quick' scam that people out there STILL fall for. It really is sad that it's mostly the broke and the vulnerable that continue to believe they can make a fortune just by turning over $500 to someone they saw on a home made video.
The Orion/Quantum Code systems will never let you realize your dream of financial freedom and they don't care. They couldn't care less how much you lose. They would be happy with your whole bank account. Don't fall for this and DON'T give them your money!
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