About Quick Cash System
Developed by Sarah Markel, the Quick Cash System binary options trading software is claimed to be mathematically (and legally) guaranteed to help you quit your job in one day, make over $20,000 per week, and become a millionaire in 100 days or less. Sarah even calls Quick Cash System “the easiest cash system ever created” that can help you “become rich overnight.”
Quick Cash System accomplishes this by automatically trading binary options using a mathematical pattern (i.e. algorithm) to accurately predict the outcome 99.9% of the time. All you have to do in order to make the money of your dreams is push a button and you’ll start earning in just 60 seconds.
Sarah even claims that, when the Quick Cash System was compared head-to-head against to other cash-generating systems, it was shown to produce a $3,248 profit in just one hour.
Like you mother always told you, if it sounds too good to be true, it probably is. But does the Quick Cash System break the mold, or will it just break the bank? Before we answer this, let’s take a closer look at binary options trading.
Trading Binary Options
For example: If you believe that the price of titanium will increase in the next 60 seconds, you would place a call. On the other hand, if you believe that Home Depot stock will decrease in the next minute, you’d place a put.
In either instance, if you place the correct trade, you’ll be paid back your original trade amount, plus a set percentage based on your brokerage agreement (more about this in the Pricing section).
According to Sarah, binary options represent the “fastest and least risky segment of the market.” Is this true?
Pros & Cons of Binary Options
Contrary to what Sarah would like us to believe, the truth is that trading binary options is highly speculative. In other words, without some kind of insider information or knowledge of a big announcement (more about this next), your odds of correctly guessing the movement of a stock or commodity in such as short period of time is about the same as chance.
Despite the level of speculation involved, binary options do have some pros and cons:
Binary Options Pros
- Each trade is for a fixed price, and can involve just a few dollars.
- You have only 2 options when trading; call or put.
- Each correct bet can earn you a 70%+ payout. Again, this depends on your brokerage agreement.
Binary Options Cons
- Despite its simplicity, you’ll need access to other trading tools to help improve the accuracy of your bets.
- Although the amount you’ll be betting each time is small, with trades only taking 60 seconds to complete, you could lose a significant amount of money quickly.
- Because your odds are about the same as chance, you’ll have to make correct bets roughly 55% of the time, just to break even. If you want to make money like Sarah claims in the Quick Cash System video? You’ll need to be somewhere near 100% accuracy.
Speaking of 100% accuracy, can you really expect the Quick Cash System’s software to place nearly all-correct trades? Let’s find out.
How Do You Make Money with the Quick Cash System?
Despite the hour-long video featured on the Quick Cash System website, we never get a glimpse of the actual software (although we do get dozens of “screenshots” of people’s bank accounts), nor does Sarah provide us with any useful information. We do know that it automatically makes trades every 60 seconds without any user input, but other than that, it’s all crickets.
Arguably, one of the biggest claims Sarah makes (and she makes a lot of them) is that the Quick Cash System’s software was developed by a team of “secret” programmers and engineers with a special algorithm, so that it can make nearly 100% correct trades. But does something like this even exist?
In short, no. Sarah is lying to you. One More Cup of Coffee sums it up nicely:
“One of the hottest scams out there is free trading apps that are supposed to tell you which trades to make. I have reviewed more products than I care to remember that tell a fantastic story about how they stumbled upon some secret code that made them millions.
These products lure you in with the idea that this is a “Free” way to make money online. In fact, they give you the software for free. But you always have to fund your trading account, and there’s always a risk that you lose that money.”
Honestly, if someone found a nearly foolproof method of trading binary options, do you really think they’d share it with the world, for free?
In fact, not even the creators of Quick Cash System believe this is the case, since they expressly state in their disclaimer, “Examples in these materials are not to be taken as a promise or guarantee of earnings. Earning potential is entirely dependent on the person using our product, ideas, techniques and the effort put forth. We do not purport this as a "get rich scheme", and nor should you view it as such.”
Obviously, we don’t think you’ll make much (if any) money with Quick Cash System, but are customers having different experiences?
Let’s Hear from Some of Quick Cash System’s Millionaires
Not hearing anything? This is because any online search for Quick Cash System reviews will bring up one of the following:
- Fake customer review websites created by affiliates, which are nothing but garbage, or
- Legitimate online reviews that are very negative. Let’s take a look at a couple of these.
Binary Options Watchdog notes that, while the “QuickCashSystem.com deserves a big round of applause for the amazing production,” it’s ultimately nothing more than a “well designed and heavily funded scam.”
After watching the video and completing the registration process, Trusted Binary Reviews found that there wasn’t even any software involved with the Quick Cash System—only an option to sign up for a brokerage account (we’ll come back around to this in the next section).
Finally, several people provided their feedback for The Quick Cash System on WarriorForums.com, where nearly everyone called it a scam.
How much will the Quick Cash System scam cost you though?
Quick Cash System Pricing & Fees
Registering for a Quick Cash System account is 100% free and simply involves entering your name, email address, and contact information. However, after you’ve completed this step, you’ll be taken to a website for one of the company’s “preferred brokers,” where you’ll be required to make a minimum $250 deposit.
From there, your broker will generally make money whether you win or lose (depending on your contract), and will pay a pre-set commission to the Quick Cash System affiliate who referred you to them.
It’s also claimed that you’ll receive a matching deposit bonus up to $1,000, although this was never displayed outside of Quick Cash System’s home page.
There isn’t a phone number available to contact anyone at Quick Cash System, other than a free Gmail email address, which in and of itself should raise some red flags. Sure, there is a phone number displayed (+44 20 32906565), although if you Google the number, you’ll see it’s been involved in a lot of scams.
Can Quick Cash System Make You a Millionaire?
Between the lack of information provided in the Quick Cash System’s video, the high level of speculation and volatility trading binary options, and the almost wholly negative online customer reviews, the short answer to this is: no.
As such, if you’re honestly interested in trading binary options, you’ll need to visit reputable websites such as Investopedia and NerdWallet to learn the basics, read every book you can get your hands on, and start small.