What’s The Deal With The Elijah Oyefeso Scam?
I’ll be honest, it took me a few minutes to figure out Elijah Oyefeso and why he matters. At face value he seems to be a hard working kid who turned a few bucks into billions trading the stock market. Once you dig deeper the story begins to twist, questions are raised and in the end, a scam is revealed. Finding out the truth was hard, he doesn’t really market his presence is primarily through social media and a couple of online “news” articles spun off of a press release he wrote.
So, who is he? Elijah Oyefeso is a 20 something year old trader who dropped out of college and turned his tuition into billions. Supposedly he used student loan money to trade binary options and only has to trade 1 hour per day. He spends a lot of time talking about how he just had to do it, to decide to be a winner, to make his trading work but not much time talking about the strategy he uses, the assets he trades or the signals he sells. What you will find in all of his posts, articles and interviews is a lot of uplifting, positive, supportive BS.
His biggest hook is his cars. He is a lover of cars and has two real fancy ones, a Bentley and a Lamborghini. He boasts that he bought his first one before he was twenty and takes a bite off the Wolf Of Wall Street when he says it pissed him off because he couldn’t afford a jet. It’s sad really, the cars are pretty ugly and he always has them parked in this shitty part of town. They don’t really look like his, I bet he rents them out for photo shoots and if not I have a question. If he’s so rich why does he hang out at that crappy flat? On a side note, if you go looking it won’t take you long to find a funny article about how he crashed his own cars together.
If you go looking for his signals you won’t find them. He doesn’t market a system and there isn’t a website, at least not yet, he gets the word out through social media and by word of mouth. As a reviewer of scams I think the lengths he goes to remain under the radar, while actively promoting himself, are ingenious. What better target than someone who comes to you asking for your help. Of course you say! I’ll help you mate, all you have to do is sign up with this broker I recommend so I can get your affiliate commission and believe me, you will have to use one of his brokers. To date, reports have him pushing InteractiveOptions a well known source of less than friendly binary options trading.
The number one reason why Elijah is full of crap is that he claims to have made so much money. It’s not that I don’t believe he can make that kind of money, it’s that I don’t believe there are too many binary options brokers who will allow that kind of profits to go on. It’s possible I’m sure, but seriously, $70 to $80 thousand per month sounds a little much to me especially if you factor in the “trading team” and all of his thousands of Twitter followers. He’s got like 18.5K of them but I wonder how many are really people?
The bottom line? This guy is shady. He may be legit, I may be wrong but I don’t think so. The win rate is too good, the profits unbelievable and the cars just too blingy and you know what they say when things look to good to be true. Read more and hear from those who have been burned by Elijah on the BinaryOptions.net forum