Golden Profit

by sircles on Oct 14, 2022 in Affiliates Scammers, boiler room scammers, Unregulated CFD Brokers
Golden Profit is a boiler room scam perpetrated by scumbags across the internet. These cowardly thieves hire other scumbags as affiliates who then try and defraud people on the thieves behalf. They do this by attracting them to the thieves sites with stupid autobot trader lies and other nonsense!

What is Golden Profit?

Well the first important question to ask is who is behind whatever this is, so let's start with that. Firstly, let's have a look at the website itself:

So this is a site that is suggesting that trading Gold is the best method for making us rich, but is that true?

Well Gold is a commodity, not a stock, and as such it's demand and supply is a little different. When the world operated on a Gold Standard the idea was very simple. You had a commodity that they might find another 2% of in the course of a year, but that 2% became increasingly difficult to access as the Gold deposits became more and more difficult to discover and recover. As a result the price of Gold was very steady and the value of currency like the British Pound remained very steady over long periods. This gave great stability to a country and allowed for expansion on solid foundation.

Can I Make Fast Money with Gold?

The thing is that Gold is useful for things like heat and electrical conduction, but as we synthesize new materials that are more capable and easier to manufacture, Gold becomes less vital industrially. The value of Gold as a luxury item goes up with population though, and there are more people than ever, so the price of Gold has actually seen a steady climb for some time now, which means it is a good investment for the long term under uncertain conditions. This though, means that Gold will never make you rich in a short time unless you start spread-betting or speculating with CFDs. 

Now the nature of CFDs (Contracts for Differences) means that you are predicting the value of Gold in the future on the basis of a temporary contract with a broker. If you speculate well or bet well, you can certainly make some money with Gold, but the odds on Gold will always be low as it is so predictable. Understandably the brokers will not give a good set of odds for a commodity they see as fairly predictable. In this way, it may not be a s good a bet as Tesla shares or similar stock.

Is Golden Profit Safe?

No, almost certainly not. Golden Profit is a very dangerous site (the-goldenprofit.com, golden-profit.co, goldenprofit.tech and the other incarnations) and it is reviewed by the most fraudulent of all the fake affiliate boiler room scam review sites. If you want to know what to avoid, a very good place to start is our fake reviews page which has a list of all the fake review sites online trying to convince people to sign up with fraudulent sites.

As a general rule, any site that has the three-step register, deposit, profit instructions is a scam, as shown below on some of the Golden Profit sites (yes, there are quite a few.)

It is also worth keeping an eye out for these images as they show up time and time again in many of the boiler room scam pages. They are an instant deal-breaker as they mean that the page is a scam. Nothing starts making you automatic money from a three stage process. If they make it sound that easy it is scam.

How Do Golden Profit Take your Money?

Well there are different scams depending on who is paying the affiliates, but the basic process is usually something like this:

  1. A scammer starts an affiliate network that gets a few bogus clients selling various tat.
  2. They open up a company in the Caribbean in a place like St Vincents and the Grenadines which they then use as a name for their operator.
  3. They buy a forwarded mailbox from a company in one of these islands that forwards their mail to a PO Box in the UK or wherever they live really.
  4. They start a fake trading company website that is not really a trading interface, but a manually manipulated webpage claiming to be connected to a non-existent trading system.
  5. That scammer uses the affiliate network as a front and starts a false product that they call Golden Profit or something else just as stupid like Bitcoin Rush.
  6. They offer absurd rates to anyone that gets them a client, sometimes $700 USD per prospect
  7. They forward the victims of the con to the website and claim that the trading they will embark upon will make them money.
  8. The connect the victim to the fake trading portal and make it look as if they are making incredible profits.
  9. The victim will invest all of their savings to enjoy more profit.
  10. Once there is no more to invest, the portal suddenly starts to indicate massive losses.
  11. The phone numbers and website become erratic and stop working.
  12. The disclaimer at the bottom of the page said there was a risk, so the victim has no fallback.
  13. The victim is introduced them to a recovery company that then takes a percentage of the money their bank gives back to them, which is operated by the scammer anyway, so they get even more of the victim's money.

The scam is complete, and the victim thinks they got most of their money back.

That, is the boiler room scam!

 

Add comment