We have gotten quite a lot of emails from followers tied Ice9 and have lost some cash or the greater part of their deposit. We were frustrated, as the video presentation on Ice 9's site appeared to be extremely professional and had us think for a minute that this might be the real deal.
In the video, the folks from Ice 9 assert that their software can profit since it uses high speed computer algorithms to gather financial market data, and then send those trades to home-based traders.
This is absolute nonsense and let us clarify why – the big banks have been battling savagely over who has the speediest PCs and quickest network connections with stock exchanges. Only banks that have the largest budgets, and armed with the best force of Algo Trading researchers can really profit. It doesn’t make sense that the folks at Ice 9 have larger budgets, better computers, better connections and smarter algo-trading servers – than the biggest banks in the world.
Moreover, it's insufficient to have fast computer to win the battle for trading speed. Your servers should likewise be found physically near the stock exchange, ideally in the same building – to earn you a few extra tenths of milliseconds of speed. In light of this, it is even more absurd to claim that they send you their trades fast enough, when their server, and your broker, is probably not in the same city or country as you!
They likewise display the system as an "open source" and call you to get the message out with the goal that it can be kept as open source. So, where is the source then? You wouldn't find it anywhere… Simply ask the Ice9 support for a copy of the code or the algorithms. This could be a nice joke, if the joke wasn't on us.
We continued with our due diligence of Ice9, and tried to research online regarding the company owners and employees featured on the video. The founder, Aaron Palmer, tells stories of a successful Silicon Valley career. How can someone who made it big in the technology city, doesn’t even have a single mentioning in any website or social media platform? That’s right – Aaron is a fake person.
John Farraday, who is introduced as the CEO of the organization, is asserted to be widely recognized as an innovator and leader in the financial sector, but again, such a supposedly prominent personality should have definitely have numerous mentions in websites and online media, but it doesn't have any!
Same goes for their marketing director Steve Katz, again a mysterious individual without even one page mentioning him. This is of course without counting the tons of scam alerts regarding Ice9.
Taking everything into account, there was nothing authentic about the Ice9 Binary Options system offer. It is nicely designed but just full of hype, without any proof at all. There was nothing to show the group behind Ice9 can turn out any profit, and in all likelihood you’re running a real risk of losing anything that you invest in it. Decision: stay away!