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CashFormula.com Review – Legit or Scam?

I’m not sure how you heard about Cash Formula but I heard about CashFormula via a spam email message and trying to unsubscribe. The spam email that was sent to me from CashFormula.com had a link to unsubscribe but when I clicked it I was sent to their website. So do I think CashFormula.com is legit? No obviously I think based on my intial reviews that CashFormula.com is a scam.

CashFormula.com is pretty much promoting binary options companies. Before any of you reading this get into binary options or forex trading online with questionable companies make sure you read what wikipedia says about Binary options.

If you go to wikipedia here’ what it says about Binary Options:

A binary option is a financial option in which the payoff is either some fixed monetary amount or nothing at all.

Binary Options are extremely risky and payoff doesn’t warrant the risk.

They are also called all-or-nothing options, digital options (more common in forex/interest rate markets), and fixed return options (FROs) (on the American Stock Exchange).

Again Binary options are very risky!

Though binary options sometimes trade on regulated exchanges, they are generally unregulated, trading on the internet, and prone to fraud.

more on the wonderful world of binary options

Many binary option “brokers” have been exposed as questionable operations. With such binary option brokers, there is no real brokerage; the customer is betting against the broker, who is acting as a bucket shop. Manipulation of price data to cause customers to lose is common. Withdrawals are regularly stalled or refused by such operations.

What I provided above is a snap shot of what wikipedia thinks of binary options click this link
https://en.wikipedia.org/wiki/Binary_option for the full story, don’t take my word for it read it for yourself.

For the visually impared  consider visiting http://www.financereference.com/learn/binary-option instead for more information regarding binary options and how they work.

Final thoughts regarding CashFormula.com

It’s very easy to lose money in Binary options and the truth is how it works is if the binary options broker is losing money it will stop paying it’s members. That’s one of the reasons why you have to reach a particular threshold before the binary or forex broker will allow you to withdraw your money. The binary broker will gladly take your money usually $100 or more but getting your money out is usually not as easy. I’ve known people who made what they thought was a little bit of money in a binary broker but when they tried to withdraw their money they couldn’t.

The Binary brokers that survive are usually the ones that make it difficult to withdraw your money. I highly recommend prior to signing up for a binary options broker that you contact them and ask them “what is their threshold for payment” meaning: how much PROFIT do you have to make with them before they’ll allow you to withdraw YOUR MONEY!

Keyword is “PROFIT” Let’s say you give the binary options broker $100 dollars to invest and their threshold to withdraw your money from them is $100. You will not be able to withdraw your $100 until you’ve made an additional $100’s in profit. Meaning you’ll have to make $200 before you can withdraw $100. This is important to grasp because most binary brokers have fees to join that will eat away at your initial $100 investment.

That’s the main reason why binary broker websites need promotional websites like CashFormula.com to promote their services. I do not recommend CashFormula.com, I don’t recommend CashFormula.com to anyone but if you want to sign up don’t let me stop you.

If you’re looking for a legitimate way to earn cash online consider visiting The Wealthy Affiliates which will show you a legitimate way to earn an online income. It’s a bit boring but if you apply what they teach you I’m proof that it works.

 

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A special thanks to Ava of techaccessible.org for providing the reference to financereference.com.