Is Snap Cash Binary a Scam?


Is Snap Cash Binary a Scam?

Austin Ford, founder, and creator of Snap Cash Binary, claims his easy to use program will make thousands of dollars in a single day. Is Snap Cash Binary a magic button that turns the internet into your private ATM? Or, is it something less enchanting?

Product Name: Snap Cash Binary
Product Website: snapcashbinary.com
Product Cost: $250 Deposit to open a trading account
Product Owner: Hexuan Cai
Opinion: Not Recommended

Click to DISCOVER a Proven Path to Financial Independence!

Is Snap Cash Binary a Scam?

When you land on the Snap Cash Binary website, a video will introduce you to the charming Austin Ford, founder, and creator of Snap Cash.

Mr. Ford explains how he did not go to college to learn to invest but instead taught himself to write software code and developed a simple, easy to use program that made him over $100,000 in one day. And, how he’s now worth $12 million.

Ford says his Snap Cash Binary software is easy to use and that it is impossible to lose money with it.

Ford claims his Snap Cash Binary software can make anyone rich. To prove it, he goes out on the street to find two “regular” people to test his program. He finds a young Asian woman named Sam and a guy named Jeff. Ford gives them $250 cash to get started and loads the software into their smartphone.

At the end of the day, Sam has made over $6,000, and Jeff has made over $5,000.

Why Snap Cash Binary is a Scam?

Is Snap Cash Binary a Scam?

Scroll to the bottom of the Snap Cash Binary website and click on the “Disclaimer.” You will quickly learn that Mr. Austin Ford and his two test subjects are actors. The video is pure fiction and intended for entertainment purposes only. Snap Cash does not guarantee income or success.

Keep reading the disclaimer, and you will soon see that the software is nothing special either. In fact, Snap Cash Binary simply links you to binary options brokers who provide the free software.

In other words, all the promises Austin Ford made about how anyone can make money with his software are lies. The odds are you will lose money.

It’s tempting to believe there is some magical software that you can get for free that will make you rich, but it simply is not true. There is no magic software.

To understand what Snap Cash Binary, it’s important to know a little bit about binary options, because Snap Cash Binary is trying to trick you into opening a binary options trading account.

The Shell Game.

Let’s imagine you are walking down the street and turn the corner to find Mr. Ford from the Snap Cash Binary video. He is playing a shell game. Behind the table is someone you haven’t met. Let’s call him John. John is moving the shells around, and Mr. Ford is betting on which shell is hiding the pea. He’s making a lot of money.

Mr. Ford says how easy the game is and says you should play so you can make a lot of money too. Just guess which shell is hiding the pea.

You play, and you win a little bit, but then you lose a little more. You keep playing until you’ve lost all your money. What you didn’t know was John is skilled at manipulating the pea beneath the shells. He can make the pea appear or disappear whenever he wants. If you win, it’s because John lets you.

How Snap Cash Binary is a Shell Game

If you join Snap Cash Binary, you will be told to open a binary options trading account with a specific broker. To activate the account, you will have to deposit a minimum of $250 of your money into the account.

When you deposit your money, the broker pays the owner of the Snap Cash Binary website a commission. Like Mr. Ford in our shell game example, the Snap Cash Binary website owner is rewarded for convincing you how easy it is to win the game.

The free Snap Cash Binary software is like the shells and pea in our example. It may be programmed to take your money.

The binary options broker is John. He will keep you playing until he has all of your money.

The Truth About Binary Options

Binary options trading is not investing. At best, it’s gambling. But, it is probably worse than gambling, because, like the shell game, it can be manipulated.

The Snap Cash Binary disclaimer clearly states that binary options trading is very risky and not for someone who does not know what they are doing.

People who enjoy gambling may enjoy binary options trading. However, binary options trading should not be considered a viable way to make money. It is far too risky.

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My Recommendation

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The place to start is the Online Entrepreneur Certification Course. The first 10 lessons are free and will teach you how to build a profitable internet business on a shoestring. Click here to learn more.

If you found this article helpful or have experience with Snap Cash Binary, please leave a comment below.

30 thoughts on “Is Snap Cash Binary a Scam?

  1. Hi Gary, Thank you for the information. It’s something I have not yet encountered as I’m just beginning and been pre-warned is great.I like the look of your site, A nice mix of color and content. I find other sites very difficult to read and pay attention to when there is too much writing, without a break for the eyes and the imagination. Yours kept my attention.
    Regards
    Sinead.

  2. Hi, Gary, The content is not something I know much about as I’m just starting out on the internet, but being pre-warned is great. I liked your site very much as you gave a nice mixture of color and context. it’s nice for the eyes and kept my attention until the end.Being dyslexic it’s tiring reading a lot of words but with images and videos it gives me a break and I, like other dyslexics will absorb the information easier and my attention will be kept on the site.
    Regards
    Sinead

    1. Hi, Sinead!

      I’m pleased you found my post about Snap Cash Binary helpful and really appreciate your feedback. I’m grateful for every visitor to my site and I try to make it as easy on them as possible to absorb the content.

      About six months ago, I learned that the average attention span for people in western cultures has plummeted to 8 seconds! I couldn’t believe it.

      Ten years ago our average attention span was 18 minutes, now it’s 8 seconds. While I understand that dyslexia and short attention spans are not the same thing, it’s good to know that my site layout is helpful to dyslexics as well.

      Thanks for stopping by,

      Gary

  3. You just saved me 250bucks !

    Thanks a lot. I knew that it was too good to be true.Its all about working with ones’ s emotions and Mr Ford is very good at that.

    We all want more money, and he promises tons of it to us in his video.The truth is,if this were the case then everyone would use Snap Cash and makes heaps of money….

    Thanks for exposing these scammers and keep up the fantastic job.

    Regards
    Roopesh

    1. Hi, Roopesh!

      I’m so glad I could help. Saving people’s bucks is the reason I get out of bed in the morning. The Snap Cash Binary sales video is very persuasive. I wish there was such a thing as a magic software that would quickly and easily make me rich, but there isn’t.

      However, if someone takes the time to learn a few new skills, it is possible to earn money on demand with the internet. Here’s a good place to learn.

      Thanks for stopping by,

      Gary

  4. Hello!=]

    I always appreciate posts that are honest in every way and yours is one of them.

    You made the post easy to understand, going to the extent of comparing it to a shell game. That’s truly awesome! I honestly at some point in my life almost fell for these scams, especially after hearing that programs like Binary Options was able to help me earn quite a sum. This probably explains why I have so much admiration to people like you who tell the truth =]

    Thank you for such a great post! =D

    1. Hi, Rebecca!

      I appreciate your kind words.

      It’s easy to fall for scams like Snap Cash Binary. They have perfected their pitch and know every psychological button to push. If a person is the least bit desperate they are all the more vulnerable.

      When considering a program like Snap Cash Binary, if you can keep your wits about you, you might realize that the sales pitch is making you feel greedy. Greed is a sure sign you are losing your ability to think rationally and are probably headed for a financial disaster.

      Thanks for stopping by,

      Gary

  5. Gary,

    Thanks a million for this! You give a great explanation on Snap Cash. Love the analogy to the Shell Game.

    It is interesting – actual investing is so heavily regulated, but who regulates the garbage that these people are offering? Thanks for the advice and keeping hold these people accountable.

    Cheers,
    Tyler

    1. Hi, Tyler!

      I appreciate your comment and kind words. Snap Cash Binary is a classic example of an unregistered binary options broker scam. They all seem to follow the same story line with only a few minor changes like the names of the characters and how they came to own the secret software etc.

      Ironically, I get spam comments all the time from other binary options scammers who claim that they have the real secret software. Another scammer will claim theirs is the best. It would be funny if it wasn’t destroying people’s lives.

      Thanks for stopping by,

      Gary

  6. Gary,
    Thanks for an entertaining post about how to lie and get commissions. You have found him out, and i just wish guys like this could have their websites taken down. How many others would not have read the disclaimer? I have always thought that binary options is a scam, and would never ‘invest’ using them.

    1. Hi, Greg!

      Some of these scam sites do get taken down. Unfortunately, they pop up again with a new domain or they repackage themselves with a slightly different name. They market themselves through affiliates who earn $250 or more per referral. It must be a massive money maker.

      Most binary options brokers, like Snap Cash Binary, are not registered or regulated in any way and are indeed blatant scams. However, NADEX is a registered broker in the United States. Trades with NADEX are against other traders, while trades with unregistered brokers are against the broker. Guess who wins in that arrangement.

      Binary options is at best speculation. Speculation is the word investors use when they mean gambling.

      Trading with an unregistered and unregulated broker is just throwing money away.

      Thanks for stopping by,

      Gary

  7. Hello, Gary
    The video you shared is actually very catchy and can attract people. To figure out a product is legit is really very difficult now and when you are promoting something you need to be more careful.I lost some money on trading before and as you say its gambling.
    It’s not disclaimer its an eye opener for many people out there who sucked by these fake products.
    Love your to the point review and the risky truth on binary option.
    Thanks.

    1. Hi, Elina!

      I’m sorry you lost money trading binary options. It can be a hard lesson. I’ve lost money in more online scams than I care to admit and like to think of it as the cost of education.

      Ironically, Dr. Robert Cialdini who wrote the book “Influence: The Psychology of Persuasion,” studied scams for years and, I would dare say, has a Phd in scams, admits they he still gets scammed. Scammers know how to exploit our emotional weaknesses.

      The easiest emotion to evoke in others is greed. This is why Snap Cash Binary and so many others like it, make promises of fast easy money. Once they hook you with greed, they can real you in and get you to deposit your money into their phony brokerage account.

      Thanks for stopping by,

      Gary

  8. Hi Gary,

    Great and thorough review. I’ve tried these binary options brokers before and as you’ve said, they all seem to be scams. Most of these binary options platforms are unregulated, as far as I know. There are definitely better ways to earn money online. The internet can be a scammy place… thanks for the review!

    1. Hi, Jamie!

      You are right. They are all unregistered and unregulated with one exception, NADEX. I do not recommend binary options trading, but if you have to do it, do it with NADEX.

      All the others are just scams. Because they are unregistered, they can take you money and there is nothing you can do about it.

      When a website promises you can make fast easy money, you know that’s a big red flag. If you feel your greed growing when you watch their video, you should know you are being led to the slaughter. If you find yourself in a situation like this, read the disclaimer. Read it closely, that should sober you up.

      If you can’t find the disclaimer or you can’t understand it, that means it’s a scam.

      Thanks for stopping by,

      Gary

  9. Snap binary cash just appeals to people’s greed. There are as you point out better ways to learn how to make money online, in ways that are scalable and sustainable. A niche site built at Wealthy affiliates will return an income for years. What’a more you can try it for free for as long as you want

    1. Hi, Catherine!

      Yes, unfortunately, we all have greed living inside us like the ugly twin of our inner child. Scammers like Snap Cash Binary know how to bring to life. And, if we’re struggling financially or otherwise desperate or ill informed, we might believe their false promise and take the bait.

      Unfortunately, I’ve known people to get so greedy to make fast easy money that they load up their credit cards, empty the bank account, borrow from friends and family, and then lose it all. They are left paying the debt for years. Some relationships never recover.

      I agree, the only place I would recommend someone learn to build an honest to goodness internet business that can support them for the rest of their life is Wealthy Affiliate. It’s not fast, easy money. It’s real and as you mentioned, it’s scalable.

      Thanks for stopping by,

      Gary

  10. Thanks for this review. I had a pretty good idea this was a scam but your investigation into the disclaimer really pointed out what this is about.
    I like the link you have posted at the beginning of your review, I have had some experience with this program and I too give it a thumbs up.
    Thanks again for the review and keep them coming!

    Shawn>>

    1. Hi, Shawn!

      Yes, Snap Cash Binary is just one of hundreds of unregistered binary options brokers operating online. The US Securities Exchange Commission has issued a warning about these brokers, but has no control over them. Getting involved with an unregistered broker is throwing your money away.

      Binary options are risky at best. Unregistered brokers do not have to follow any rules. They can lie like crazy to get you to put money into a trading account. Then the broker can simply freeze the account and take the money, or they might let your pretend to be trading with their special software which really only makes you lose every trade until your money is their money.

      You cannot win with an unregistered broker like Snap Cash Binary.

      Thanks for stopping by,

      Gary

  11. Good review. Disclaimers are ESPECIALLY important if you are trying to identify scams. When it comes to trading and stocks, many newsletters are “compensated” to hype up stocks, and if you were to read the fine print in these newsletters’ disclaimers, you will be able to identify that they have in fact been compensated.

    1. Hi, Ishan!

      Yes, you are so right. Always read the fine print.

      Many online scams do not have a disclaimer, which is a dead giveaway that the thing is a scam. Most scams, like Snap Cash Binary and some investment newsletters work hard to make you feel greedy. Once they can get you to feel greedy for the pig in a poke they are selling, it’s a simply matter to take your money.

      A genuine opportunity won’t play the greed card. There will be time to think it through.

      Thanks for stopping by,

      Gary

  12. I love the review on this one. I was looking at some items to promote at Clicksure and I saw this Snap Cash Binary product. I had to be careful on products that I promote so I read a lot of reviews regarding the product. Your article is very informative and straight to the point. Definitely I won’t be promoting it because like you said it’s like gambling and even worse because it is being manipulated.

    1. Hi, Marc!

      Snap Cash Binary is like dozens of other make money online sites. The big print giveth and the small print taketh away. On the front end, the video is all about the tons of easy money you will soon be making guaranteed, but read the disclosure, you will see they don’t guarantee a thing.

      The truth is, operations like Snap Cash Binary funnel people to an unregistered binary options broker. An unregistered broker plays by their own rules which are all about THEM making money. The way they make money is to steal your money. They should not even be called brokers.

      Thanks for stopping by,

      Gary

  13. Hi Gary, I found this page containing your Snap Cash Binary system extremely thorough and interesting. Very detailed and presented in an easy to read and understand way.

    I also like the videos and images you have included on the page, they really bring the story to life.

    Having looked around the rest of the site I have to say that it is well laid out and the information is presented in a very accessible way.

    I would like to add some constructive comments on improvements but cant find any right now.

    1. Hi, Gordon!

      I appreciate your kind words and I’m pleased you found the article on Snap Cash Binary useful.

      Binary Options are not recommended for most people. Snap Cash Binary is not even a legitimate binary options broker. The broker they direct people to is unlicensed and unregistered. This means each time you place a trade, you are betting against the broker. And, since you are also using the broker’s software, guess who wins and who loses.

      Thanks for stopping by,

      Gary

  14. Hi Gary,

    A very informative and thorough review of this product. Like the comment above I have traded Forex in the past and have often wondered about branching out in binary options. This detailed review would open many folks eyes to how the financial markets can be manipulated to relieve naive gamblers of their hard earned cash.

    Great job and keep up the good work.

    Gordon

    1. Hi, Gordon!

      Thanks for taking the time to comment.

      I’ve known gamblers of all stripes. Some consider their losses the cost of entertainment. Others let it rule their life.

      Sadly, too few people understand financial management and investing. Anyone with a modest understanding of the internet can make money online and anyone with a little discipline can accumulate a sizeable investment portfolio.

      The path to wealth is well-known, proven and predictable. However, binary options is not the way to do it. Trading Binary options, at best, is pure speculation. At its worse, like Snap Cash Binary, it’s a sure way to lose all your money.

      Thanks for stopping by,
      Gary

  15. I love the content of your page. It is precise and to the point. I can understand now why some people get caught up this the binary trading business. Like you say it is just like gambling. I also like the way you have placed the videos with the content. It caught my attention and made me want to watch more. Have you ever tried binary trading? I used to do forex which is much safer but still gambling with less risk. Thanks for sharing this great information. It was very worthwhile reading.

    1. Hi, Stephen!

      I appreciate your kind words. I was raised by a Southern Baptist deacon and Sunday School teacher. Genetically, it’s impossible for me to gamble. My former in-laws liked to play quarter slots and would give me $20 in quarters to play with them. I couldn’t do it.

      The biggest problem with binary options is they are not regulated on the internet. Statistically, winning with binary options is challenging for a professional trader working through a regulated broker like NADEX.

      When an unregulated broker makes claims of fast, easy, guaranteed money like Snap Cash Binary does, it attracts the people least prepared to succeed with binary options. It becomes a slick way of taking people’s money.

      Thanks for stopping by,

      Gary

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