At FXaxe, we get asked by numerous newbies about interesting and revolutionary “systems” and apps that they found online that are promising them millions. We invariably cringe as yet another sucker is about to be scammed by a dubious proposal.
We take the time to explain to the user why this is a scam and why they should stay away. However, we have found it sometimes more beneficial to complete full investigations of the scams we are alerted to. One such scam that came across our desk is one called “Tesler Investments”.
This was indeed an interesting scam and seemed to have been done relatively well. A chap called “Steven Abrahams” was visiting a suburban housewife to discuss her “investment” with him. That is of course, where things got interesting…
Below we will give a full review of the scam and why an investment in Tesler investments is a kind donation to a binary options scam.
How it Begins
The moment you land on the Tesler investments landing page, you are presented with a landing page that we are all too familiar with. You are presented with a video that plays the second your browser is done loading (easy Steven). There are all the contact form fields where they want you to input your information to qualify for this amazing offer.
As stated in the header of the landing page, you can earn up to $237 per hour! Truly amazing stuff…
Scrolling down a bit further you can see the testimonials (more on this later) as well as a nice screenshot of the super sleek Tesler App Scam. There is also a link to download the app from apple store and the play store. However, the links appear to be broken? They merely redirect us back to Steven’s amazing video. Are there even apps to begin with?
Right next to this app we also have claims such as “Generates $5000 per day per user Guaranteed”. Now, we have never had someone trying to sell us snake oil but we are sure that that quote was taken right out of his 101 guide.
Not to let a mere statement throw us off I decided to take a look at the risk disclaimer (kill-joy I know). In the disclaimer the following line appears prominently near the top
If we are not mistaken, that is a direct contradiction to their “guaranteed” claim. I think Steven needs to have a stern chat with his lawyer about this as clearly they have never spoken.
In the end nothing really out of the ordinary. This is a textbook landing page for a scam affiliate funnel. However, in the interest of clarity, we dig further.
The Scam Video Overview
As we have seen a number of Binary option scam videos in my time, this has to be one of the more professional ones. That is, the cinematography and actors are pretty good. Yet, a gold plated turd is still a turd.
The video goes through well thought out script that talks about the ease with which traders use the Tesler app. It goes to pains to explain how simple it is. From the housewife who made thousands in 24 hours to the poor New York taxi driver, they are all there.
There are also claims by Steven that his massive company helps lots of people make money. He also mentions that he has been featured in Forbes, Bloomberg and CNN. I was really curious as to what he said in these interviews but alas, I could not locate them.
The video cuts between scenes when Steven is chatting with his latest fan to those where he is talking us through his software inside his office. He mentions a key concept at the centre of the software and that is “lead patterns”. He even mentions it over and over and make certain that you understand what it means.
Now, as a veteran technical analysts ourselves, we had never heard of this concept in finance. A simple Google search will show one that Lead patterns is in fact a method for learning the guitar. If these lead patterns are indeed successful at trading the financial markets as well, then Steven deserves not only your money but a Nobel Prize in economics.
The video continues with a whole host of really tacky and debasing sales tactics. They try to hit the regular “pain points”. These are scenarios that try to make people feel awful about their lives. They peddle debt reduction and a “dream life”. They claims that the Tesler App Scam is the solution.
Now we are not one to deflate your dreams but these will not be the solution to your life’s problems. It will only make them worse.
The Fake Testimonials
As with nearly all Binary Option scams, there has to be a range of testimonials. I mean after all, if a sleazy sales video doesn’t push you over the edge then some random piece of text on a picture should.
Unlike the Bitcoin code scam, they don’t look like they use stock photos so they are at least semi legitimate. However, after doing a bit more digging we managed to locate the sorry individuals whose pictures were plastered on this site. They are located below.
Two of these images appear to be taken by a tablet reviewer on the laptopmag website. You can view the reviews here and here. Another one of the selfies appears to have come from a forum poster on an LGBT thread on a gamer website. We are most definitely not making this up and you can view the thread here.
While I did not mean to bring the plight of these unfortunate individuals to light, I thought it important to highlight that their pictures being used to scam people. Moreover, using someone’s picture online without their consent is also illegal.
No doubt the claims in the testimonial are just as fake as the claim that they were made by these people. There are no users who can attest to the tesler scam because no one has made money.
Where is the App?
As we mentioned above, Tesler investments was supposed to have an app that users could download onto their mobile devices. We wanted to see what the app looked like. So we decided to search for it on the app store.
We could not find the Tesler app to download anywhere on the app store. We searched for a number of different variations to no avail. We also decided to look into the Google play store with similar results.
This is something that you can do as well to confirm. This only proves to us one thing, that the whole app gambit was a ruse to make you think that this Steven character wasn’t blowing smoke.
Of course, this makes sense as neither Apple nor Google would even consider authorising scam applications on their stores.
Introduction To Broker
We decided to press on and give our details over in order to access the next stage of their funnel. We were now in the member’s area and well on our way to “untold riches”.
You are taking through a further pitch by the charlatan in chief before been asked to give over more information yet again. This includes info such as passwords and account currency.
It is no surprise that after this you are taken to an unregulated broker (in this case S2 Trade) and are asked to set up an account with them. They are quite vague about the Tesler App Scam when I apply. They act as if they are trying to keep their distance from them.
There are any number of reasons why S2 Trade would be doing this but the most obvious is that they know it is a scam and they are hoping that one is too gullible to even ask.
Indeed our assertion was confirmed, the Tesler app is nothing but a scam that acts as a marketing “funnel” to get you to invest money as quickly as possible. They use a number of sales tactics which they hope could push you to make an impulse decision and invest with an unregulated scam broker.
If you do indeed fall for the scam and invest your money there are two possible outcomes, neither of which is a pleasant one. First the broker will push you to invest more through a number of high pressure sales tactics. They will try as hard as they can to pry your credit cards from your wallet.
If they are unsuccessful in getting you to send more money, you will lose your funds within seconds. If, on the other hand, they are able to get more money from you that is where your problems only just begin…
Don’t fall for the Tesler app scam!