Links to a system called RewFeed claim that those that visit the link and sign up can make thousands of dollars every day from social media.
Rewfeed operates from the domains RewFeed.com, Rewfeed.me and RewFeed.trade. It also seems to call itself Revfeed. At the time of writing, it claims users can “earn $1,492 A Day From Social Media”
What is Rewfeed?
Rewfeed has been categorised as a Binary Options get-rich-quick scam. This means the scheme falsely claims that those who sign up will become rich by trading with Binary Options. The scheme uses various misleading sales tactics (including fake Facebook adverts claiming Bill Gates has invested in the website and using paid actors) to trick others into signing up which we will look into below.
The domains belonging to Rewfeed were registered in May 2017.
What is a Binary Options get-rich-quick scam?
This is a scheme that tricks a victim into thinking they can get rich by trading with a particular Binary Options trading platform. The scheme will dress up Binary Options as a “revolutionary” or “underground” way of making money.
Binary Options trading is where an investor attempts to predict whether a specific stock will rise or fall in value over a short period of time. If the investor predicts correctly they get a return on their investment, but if they predict incorrectly then they lose their investment.
It’s an alternative and less popular version of traditional trading, and it is poorly regulated. Additionally, most finance experts agree that Binary Options is similar to gambling. As such, there is no way to “beat” Binary Options or to “game” the system. There is no secret software or methods that can be used to guarantee wealth using Binary Options trading. Binary Options get-rich-quick scams have many similarities to schemes that falsely claim to help you beat online casino games.
These get-rich-quick scams will use a number of highly deceptive and misleading sales tactics to trick victims into signing up for Binary Options brokers by asserting that they can get rich by doing so. The Get-Rich-Quick scammers are paid a commission for referring victims to a Binary Options broker.
Those who sign up are required to pay an initial deposit into their broker account, and most will ultimately lose that money.
In the case of Rewfeed, when we signed up we were referred to a broker called Binary Tilt. However it is possible the scheme uses many different brokers.
You can read more about Binary Options get-rich-quick scams in our article here.
Misleading sales tactics…
Like many Binary Options get-rich-quick scams, Rewfeed uses misleading Facebook ads to promote its website, including one that falsely states that Microsoft founder Bill Gates has invested $2 billion into the website, which is of course patently false.
The site claims that they will give you $250 to trade with for free. However once users sign up they learn they must get 10 of their friends to sign up before they will receive this. We cannot state for certain if Rewfeed live up to this promise.
The site claims that the “free $250” bonus offer is live for 2 hours but this is false since that offer does not expire.
Rewfeed states in its FAQs that users can make anywhere between 1,492 and 15,000 USD each day using their “system”. However as previously stated this is just deception. Most users who try Binary Options trading will fail to make any significant return and many will ultimately lose money.
The site uses fake testimonials from actors.
The CEO of Rewfeed, “Jason Clarke” is actually a paid actor hired from a freelance website called Joel Young. The CTO officer displayed in the sales video is also an actor.
The bottom line…
Any site that promises you a method of getting rich which turns out to be trading with Binary Options is a get-rich-quick scam. It’s that simple. Even experienced traders avoid Binary Options since it is largely unregulated, hard to predict and akin to gambling. Stay away from it and any site that claims they have secret software or techniques to “beat it”.