The News Spy thenewsspy.com is a get-rich-quick binary options scam
Internet users should be wary of a scheme that claims you can make money by “predicting trends” that calls itself The News Spy, as this is a get-rich-quick scam.
Like many near-identical scams out there, The News Spy advertises itself with fake media reports, spam email and tacky advertising. Upon clicking through to the website, users are presented with a short sales video claiming it can make anyone who signs up lots of money by “predicting trends”.
After entering their information, visitors are then taken to a sign-up page where it becomes apparent that this is another scheme that attempts to disguise binary options trading as a shortcut to getting rich.
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What is binary options trading?
It’s a platform where people can predict whether a particular stock will go up or down in a short period of time, as opposed to more traditional trading platforms where people invest and sell stock. If the person predicts correctly, they get a return on their investment (perhaps more accurately, their wager) and if they lose then they lose their investment.
Despite what many websites or schemes claim, there is no way to “beat” binary options trading. It’s risky, and those with little knowledge of stocks and shares aren’t likely to win any money. It’s more likely they will ultimately lose any money they invest. In this way, it is not to dissimilar to online gambling at a casino.
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Like all these types of schemes, The News Spy (www.thenewsspy.com) expects those who sign up to invest $250. Those behind The News Spy make a commission every time they sign someone up to a binary options broker, which provides the motivation for these get-rich-quick scams.
Such scams are prolific on the Internet, and are nearly identical to one another, with similar sales videos and sneaky sales tactics. We strongly advise all our readers to avoid such schemes that promote unrealistic profits for little work. It’s just not that easy.
If you are interested in using the Internet to make yourself money, you can read our article here on how to make money online without getting scammed or conned. To learn more about binary options trading scams, click here.