Want to lend your scam some credibility? Say it’s been made in Dubai! Dubai is the land of untold riches and oil money flowing over the bank accounts. It is now apparently also a target for scammers looking for some legitimacy for the outlandish pitches they make. The Dubai Lifestyle app is one of the newest binary option auto trading scams, which – have no doubts about this – has really nothing to do with the Emirates. The people trying to sell us the app have built up this elaborate story about Dubai and rich Emirati investors, with the obvious intention of drawing focus away from the lack of technical details in regards to their software. Their site is flashy and aiming to tickle your greedy-bone. It also screams “scam” through almost every one of its building-blocks.
What is the Dubai Lifestyle App?
The Dubai Lifestyle App is a very vague auto trading scam, one which never really tells us anything about the way its trading and profit-generating machine is supposed to work. Why would we want to know such details anyway? We should just take everything the promotional video says, at face value…after all, some high-profile fictitious Dubai investors ate it up, so why wouldn’t we, everyday people, do the same? That said, it’s impossible to tell whether the Dubai Lifestyle App is based on lasers, space aliens, optical data transmission or all of the above…What is certain at this point is that it’s a scam. Its exotic name is explained as a reference requested by the investors behind the project.
Who is Scott Hathaway?
According to the Dubai Lifestyle story-book, Scott Hathaway is the CEO, founder and investor of the auto trading system. In reality, he’s an actor who has been hired to sell the scam. How good a job he did remains up for debate, because the main promotional video of the operation doesn’t feature him much. Running a Google search on him reveals absolutely nothing of any kind of relevance. It’s obvious that there is no one by this name known world-wide for his trading prowess. Scott Hathaway’s story aspires to be a classic rags-to-riches presentation. According to the story of the promotional video, he is originally from Iowa, and he moved to the Emirates just two years ago, with $500 in his pocket. He immediately got a meeting with some top investors though, who were so sold on his idea, that they immediately cut him a check for almost half a million. He and his team invested $190,000 into the creation of the Dubai Lifestyle app, as well as 6 months’ worth of work.
How Does Dubai Lifestyle App Work?
From what one can tell from information made public atdubailifestyleapp.com, that is one of those things that no one seems to know. Not even Scott Hathaway, or rather: he’d be the last person to deliver a competent answer to that question.
Dubai Lifestyle App Platform
The Dubai Lifestyle App platform seems to be a proprietary one. That said, it looks like every generic auto trading scam platform we have ever seen. It features a “magical” auto trading button as well as a manual trading option. To make a long story short: it looks ok, but the only thing it actually does well is running your trading balance completely dry.
Exposing the Dubai Lifestyle App Scam
How do we know that Dubai Lifestyle App is a scam indeed?
Indications of its true nature are strewn literally everywhere at dubailifestyleapp.com. The video is loaded with details that scream “scam”. The alleged Dubai offices of the operation are presented through a number of small photos only, which look and feel a lot like stock photography. The testimonials seem fake, as the actors used for them are quite abysmal in some cases. The promises are too good to be true, and there aren’t any details delivered in the way of how the system accomplishes its over 99% success rates.
The website itself is filled with cheap attempts to induce urgency and to prompt action. There’s time-counter going backwards, counting back the seconds till the expiry of the offer. The funny thing is that once it reaches zero, it just stops there. If one refreshes the page, it starts over. Similarly, there’s a widget in the top left corner which shows the number of available spots left in the user’s geographic location. Every time one refreshes the page, a different number shows up there at random.
Dubai Lifestyle App Review Conclusion
Dubai Lifestyle is a scam. Just stay away from it.
|Software title||Dubai Lifestyle App|
|Trader demographics||Everyone, everywhere|
|App compatibility||Android, iOS, Windows, Mac, Linux|
If you’re looking for a legitimate software, then I’d suggest checking out my “Best Binary Options Trading System- 2017“. We’ve been getting amazing feedback about this software from many people all around the world.
I won’t end this Dubai Lifestyle App review before providing you with our binary SCAM scale for today.
References and Further Reading:
1. Hedging by sequential regression: An introduction to the mathematics of option trading (H Föllmer, M Schweizer – Astin Bulletin, 1989)
2. Dynamic hedging portfolios for derivative securities in the presence of large transaction costs (A Marco, PS Antonio 1994)
3. Mathematical modeling and methods of option pricing (L Jiang, C Li – 2005)
4. Quantile hedging (H Föllmer, P Leukert – Finance and Stochastics, 1999)
5. Paul Wilmott on quantitative finance (Paul Wilmott 2013)
6. Robust hedging of barrier options (H Brown, D Hobson, LCG Rogers 2001)
7. Trading Binary Options (A Nekritin 2012)
8. System and method for creating and trading credit rating derivative investment instruments (D O’Callahan, D Salvino, C Shalen 2005)
9. User-interactive financial vehicle performance prediction, trading and training system and methods (Peter Hancock, Jeffrey Saltz, Andrew Abrahams, Sanay Hikmet 2008)
10. Method of creating and trading derivative investment products based on a volume weighted average price of an underlying asset (Dennis O’Callahan, Catherine Shalen 2006)
11. One-touch double barrier binary option values (CH Hui 1996)
12. Static hedging of exotic options (P Carr, K Ellis, V Gupta 1998)
13. Options trading volume and stock price response to earnings announcements (C Truong, C Corrado 2014)
14. Currency derivatives: Pricing theory, exotic options, and hedging applications (DF DeRosa 1998)
15. To pay or be paid? The impact of taker fees and order flow inducements on trading costs in US options markets (RH Battalio, A Shkilko, RA Van Ness 2011)
16. Derivatives: principles and practice (RK Sundaram, SR Das 2011)
17. Understanding the implied volatility surface for options on a diversified index (D Heath, E Platen 2004)
18. On pricing barrier options (P Ritchken 1998)
19. Derivative securities and system for trading same (Bradley J. McGill, Evan J. Winston)
20. Event-driven trade link between trading and clearing systems ( Baecker, J Buddendiek, K Carnahan 2008)