Julian Wong is a popular binary options guru on YouTube and runs a trading school called The Binary Lab. What is interesting about Mr. Wong is the way he started his vlogger career, which is easy to track on his YouTube channel, originally named The Professional Bum.
Mr. Wong the marketing guru (June 2013)
In mid-2013, Mr. Wong was trying to sell a MLM strategy with little to no success. As you can see from the screenshot, he managed to generate 31 views in 4 years on a video where he explained the difference between paid and free leads. For those of you who don’t know what MLM is, it comes from Multi-level marketing and works like a pyramid with one guy on top and many slaves under him working on commission to sell some crap.
The king on top creates the illusion that, if you join his scheme, you will become a millionaire. But first you need to pay him an entry fee, which could be $500 or more. Once you fall into the trap, you soon realize you need to convince other people to join the scheme to make profit.
For example, you are trying to sell some jiggle balls for $10, and your commission is 10%, so you need to sell 500 pairs of jiggle balls to come up with your initial investment. But the king is telling you that there is an easier way. You just need to make someone pay the $500 entry, and you get $100 commission, so you start recruiting more people to join the pyramid.
Mr. Wong obviously has fallen for this scheme and was trying to lure people into joining it by making videos on YouTube. In one of the videos, he actually admits to investing $10,000 in marketing strategies with no return.
On April 3, 2014, Mr. Wong tried to sell some cosmetics that removed coffee stains from teeth; the video was published in the Comedy category, which is very accurate for this total joke.
The Binary Lab is established (April 2014)
On April 7, 2014, four days after the creepy coffee video, Mr. Wong was already a binary guru, teaching binary options trading to beginners. What a transformation in four days! I am curious to watch a video where Mr. Wong talks about his overnight transformation from internet crap seller to binary options trading expert.
Probably, he was hit by a storm while walking on Changi beach park or he took a magic pill with a $ stamp. It would be a fascinating story to hear. However, what he actually did was change his haircut and start a new scheme.
After years in poor marketing investments with little to no return, Mr. Wong finally found a new opportunity to make money as a binary options affiliate. With the binary brokers paying $100 to $300 cpa per lead, the Singapore investor was quick to adapt to the new field.
To make money, he had to send traders to the brokers. Every time a customer makes a deposit at the broker, Mr. Wong is paid $300 or more. But how to make the beginners deposit?
The Singapore investor decided he could sell leads easier if he offered traders something free. So, he created The Binary Lab, and traders can join the free education system if they register and deposit at a broker. Mr. Wong claims he can teach you how to trade binary options successfully and make a profit, but does he really want you to make a profit?
How the affiliate program works: Mr. Julian Wong makes money when the broker makes a profit, and the broker makes a profit when the trader loses money. So, Mr. Julian is making his fortune when he sends losers to the brokers. On his website, thebinarylab.net, he claims over 4,000 members, which means 4000 x $300. You can do the math.
But what if you are a winner? No problem. Mr. Wong recommends only unregulated scam brokers. Even if you succeed in making some cash, you won’t be able to withdraw it.
The Binary Lab - free education?
The Binary Lab creates the deceptive illusion that you get a free trading education, but you can actually end up with $1,000 loss at the broker. Is that free? Luckily, I have never witnessed one of Mr. Wong’s live trading sessions, but I read some stuff about him on other forums. It is a disgusting story.
Asking beginner traders to pay up to $5,000 for membership and teaching them martingale strategy (casino system) is ridiculous. You can learn a million times more for free if you read information on babypips, for example. The following comment on binaryoptions.net probably describes Mr. Wong best.
In his last video, published on June 2, 2017, Mr. Wong is moaning about the new regulations, which forbid advertising binary options as “easy money”. He claims that it took him one week to remove all the misleading ads from his channel, so you can imagine what kind of trader he is.