Here with the Apiary fund scam we are faced with a whole different approach. Initially, when I first landed on this site it actually caught my eye and I was eager to see what they offer and my mind was automatically telling me that this could be a good option. Of course, that is the goal. First impressions usually fool many and they overlook the important details and information that gives away whether it really should be trusted or is a scam.
See, though not all scams look alike, and some may even look to be legitimate because they don’t have the typical tell signs of a scam, doesn’t mean it isn’t one. They may not have the dead giveaway scam video or the absurd promises, but once you take your research to the right forums you see real traders experience and really find out what they are about. Unfortunately, in this case, there is plenty to be said. Not to mention that they’ve overlooked several things in their promo website as well.
What is the Apiary fund Scam?
Well, unlike the other scams you will see online, they aren’t promoting a free system, or at least that’s what they want you to think when you first land on their page. Of course, if they are asking for a membership and money for it, then it must be good right? Nope. It’s just another way to swindle you out of your money. On the other hand, if you read more into it, click through the website, you will find that there is also a free alternative where you are assigned a broker they recommend and pay nothing for their signals. Considering the steep price for their signals, it’s only natural that traders will choose their automated system where they are assigned the broker, a much better option for them as well.
The first thing to note when you land on their page is the fact that they claim that they are “Ranked as the #1 Live Trading Room for Forex and Binary Options”. There is no link to confirm this or who exactly ranked them. The reason is, no one, they’ve ranked themselves.
Now, before I continue, I want to give you a heads up, a live trading room is not exactly a great option for traders. Though there are some good ones out there, though few, it’s a major risk. You have absolutely no idea whether the signals you will be receiving are actually quality. There is zero proof, especially here, and you just have to trust their word and pay absurd amounts of money in addition to the investment you will make with your broker just to find out.
Though the average win rate of 78% is not impossible and is pretty reasonable, I am still skeptical. Considering how reasonable it is, there should be some proof of it. What scam websites do is give you fake proof of profitable trades, while if you really do have successful signals, you should be able to provide at least a tiny bit of proof actually backing your claims.
So, technically you will be receiving signals that their analysts research. These signals are not provided via a platform or a system, but rather sent via Skype which is a bit of a letdown considering the price they are asking. The only good thing about this is that you get to choose the broker you want to work with.
Unfortunately, their Live Trade Results are quite outdated, and since this is their live trades, it doesn’t look good. Of course, this could be a glitch, but if they have overlooked this glitch since February 3rd, they are obviously not exactly great at analyzing and reviewing after all. Either way, it’s rather pointless to have this if it’s not going to be up to date and accurate.
As you scroll down you don’t realize that this is costly until you reach their FAQ’s portion of the website. You get a 3 day trial worth $200 (that’s $200 for three days, considering the win rate, and if you are trading at the minimum, minus the broker fee, it doesn’t leave with THAT much profit in the end).
After clicking around the website a bit I managed to find a page with a full breakdown of their prices as they were not provided in the main page and didn’t have them in the menu. Their initial claim that 3 days is worth $200 seems a bit off as a week is $250, still pretty steep for a system you are not sure whether it works. What worries me with the trial, as there are no terms of the trial, is whether you have to actually contact them in some way in order to cancel it or else you will automatically be charged some absurd amount. Of course, this information is not provided so if you do try the trial, make sure you contact them and notify them you are not interested in continuing as they have your billing information and will do as they please with it. Now, they claim that there are no charges following the $1 initial charge for the trial as per a conversation I had with a customer service rep, but they could not provide any written information on this in their terms which still worries me.
Of course, there is the much cheaper option. Getting signals for free of course! Their membership is based on the amount you invest, with added benefits the more you invest. When I tried to sign up I was redirected to their broker Millennium Options, but it’s the first I’ve heard of them so no go there.
They also claim to have a Trade Copier (basically an automated binary options robot) where they trade for you. Though there is plenty of info on there, it seems they have various things they claim to offer all thrown into one site in hidden pages of the site. All being similar but presented differently. I tried to sign up but it doesn’t seem to work. It is basically an automated system of some sort, but it doesn’t seem to be actualized.
What Traders are Saying
See, my problem really isn’t with all the major issues in the Apiary fund scam website. It happens, though in this case they are obviously trying to mislead visitors. My issue comes from the numerous complaints I’ve read about and even received from readers of the blog about their misconduct. Poor signals or complete lack of, impossible customer service, loss of investment, and overall lies about win rate and number of signals a day.
I think that the Apiary fund is a scam until proven otherwise, so, if anyone has tried it, please share your honest experience as I am sure everyone will benefit from it.