Last Updated on November 20, 2023 by Stephan Lindburg
Tesler App (AKA 7Tesler and Tesler Trading System) is advertised as an automated, data-driven online trading software. In reality this bogus signals platform is an antiquated Binary Options get-rich-quick scheme. The person who reportedly created this fake signals software is named Steven Abrahams. In the Tesler App scam sales video he is presented to as as the CEO of Tesler Investments. However we know who this person really is. Our researchers will expose his real identity in this insightful Tesler App review.
Tesler App Broker Check: We registered in order to conduct our £250 deposit test. The broker which was assigned to us was named Coin Central. Coin Central has a registered business address in Seychelles. This broker operates illegally and not licensed to manage customer portfolios. This is to be expected since the complaints we received primarily had to to with not being able to withdraw existing funds.
We saw a sponsored advertisement on a YouTube video asking viewers to join the Tesler App. This new and highly effective way to bait victims is particularly effective. Now, viewers watching these types of sales videos are also susceptible to misleading advertisements.
These advertisements are paid for by affiliate marketers and media networks. They do it in order to attract new customers and in turn receive commissions from CFD brokers. This is a troubling development, and not something we see very often. We shall be monitoring this new trend very closely and file a formal complaint with YouTube.
If you believe that this fraudulent trading software is legit, then you are deeply mistaken. We strongly caution you against investing through this software. Why not take a minute and read our Tesler App review? Play it smart and conduct some proper research.
Official Tesler App Website, Login Page, and Members Area: We identified at least 7 (Seven) websites claiming to be the “official app”
- 1 Scam Evidence:
- 2 Tesler App Scam: Multiple Versions Same Hoax
- 3 Tesler App Blacklisted By The FCA
- 4 Tesler App Legal Perspectives
- 5 Tesler App Fake News
- 6 Fake Tesler App Reviews
- 7 Who Is Steven Abrahams?
- 8 What Is Tesler App and How Does It Work?
- 9 Tesler App Review; Perceived Benefits Versus Drawbacks
- 10 Tesler App Features, User Interface, and Trading Dashboard
- 11 Indicators, Risk Management, and Canned Strategies
- 12 Tesler App Security. Is It A Safe Trading App?
- 13 Exaggerated Claims And An Old School Sales Pitch
- 14 Tesler App Leverage
- 15 Is Tesler App Supported By The Various Coin Exchanges?
- 16 Tesler App Cashier (Deposits and Withdrawals)
- 17 Tesler App On Trust Pilot, Reddit, Facebook, And Other Forums
- 18 A Few Tested Alternatives
- 19 Tesler App Review: The Verdict!
Here we can see Mr. Steven Abrahams, CEO of Tesler Investments. He is asking you to test this software for 5 minutes and earn $237 per hour.
The problem is that Steven Abrahams is really a Portland-based actor named John San Nicolas. Our researchers found his profile in a theater website named Artist Repertory Theatre. You can check his profile here for yourself or just view the image we have attached for you below. San Nicholas also has a full bio on Broadway World and PCS.org. Just google his name and see what comes up.
Tesler App Scam: Multiple Versions Same Hoax
Take a quick look below. You will see one of many websites which claim to be the official Tesler trading app. Our researchers spotted about 7 different types of sites. They all have different look and feel to them, but essentially they are all a part of the same deception.
Tesler App Blacklisted By The FCA
This trading platform was blacklisted by the FCA in the United Kingdom way back in July 2021. Even the FCA is claiming that it is a “clone” in their warning. Feel free to enlarge the image below and see for yourself. We have added a screenshot of their alert for you as a point of reference.
Tesler App Legal Perspectives
When we examined other legal aspects related to to this software we also reached similar conclusions. This app has no legal patent anywhere. There is no indication of any form of PCI compliance. That means there is zero accountability when it comes to privacy issues or confidentiality or personal information. The same can be said for firewall settings and standardized ISO protocols relating to website security.
Tesler App has made it to the FCA warning list. This only happens when many victims complain. Make sure to conduct proper research before risking your money!
Tesler App Fake News
We have seen 3 fake news articles and a text link advertisement on YouTube which encourages viewers to join the Tesler App scam. Depending on where you are located, chances are you will be exposed to fake news articles as well. The ones we saw used Sir Richard Branson, Elon Musk, Jeff Bezos, Holly Willoughby and Martin Lewis. However, we know there are other celebrities and high profile public figures that are used as well.
Fake Tesler App Reviews
The list of fake review websites endorsing the scam is long, and it keeps growing! The last website which has endorsed this bogus app is a type of press release news aggregator. This website would have you believe that the Tesler App is an “online bid exchange” platform for cryptocurrencies such as Bitcoin, Ripple, or Ethereum.
Of course, this is a lie. The scammers just pay money and have their affiliate links present at the top of the search engine results. That’s a neat trick, but eventually these articles fizzle out and become outdated.
Who Is Steven Abrahams?
Abrahams is presented to viewers as the CEO of Tesler Investments. A company that specializes in creating money-making opportunities for new investors.
What Is Tesler App and How Does It Work?
Tesler App was originally marketed as an automated binary options trading application. In the sales page, it is mentioned that it is super safe and offers a 99% success ratio. The scammers also talk about an algorithm which allows investors to use an online bid exchange platform. However, this type of mish mash is simply over-hyped chatter and not to be trusted.
Tesler App Review; Perceived Benefits Versus Drawbacks
Are you ready to claim your spot as a new beta tester for the Tesler App scam? The cheaters behind this scheme are offering everyone 100% risk free binary options trading. To make matters worse, they are saying that their thieving software has a 99% success ratio.
If you had a chance to look at their sales video you will surely notice a trading panel. The panel lists the broker name (securedoptions[dot]com). This is a binary options broker which was owned by Victronix LTD and has since shut down. It has also been blacklisted in every possible review and regulator website.
Abrahams also says that he is referring ne members to a person named “David Brookes”, who he claims is his personal banker. Of course, this person also does not exist. They created this fictional character to make their narrative seem more believable.
Tesler App Features, User Interface, and Trading Dashboard
In the original version of the Tesler App, there was as trading dashboard which was provided by a third party software provider. This signals panel was designed by a group of developers in Georgia, and is no longer in service. However, the video remains, and it is constantly being used in a very misleading manner.
Today, new members registering for the Tesler App will not have access to a trading dashboard. We know this because we registered multiple times. In all cases we were simply redirected to a fishy broker located in one shady legal jurisdiction or another.
Indicators, Risk Management, and Canned Strategies
Most trading apps or expert advisors will have some kind of strategies or indicators available. These can be Moving Averages, Fibonacci, or RSI for example. Tesler App offers none of this. Neither does it offer any kind of risk management features. Once you invest there is no way for you to control the software. The broker will simply trade on your behalf and in that way cause you to lose your money.
Tesler App Security. Is It A Safe Trading App?
There are a variety of websites claiming to be “official”. All of them have an SSL certificate with a standard 256-bit cryptographic key. However, this in no way means that these websites are safe. In many cases where we scanned the site for viruses we found PUP’s or potentially unwanted programs. In other times the sites were marked as “suspicious” by McAffee Web Advisor.
Exaggerated Claims And An Old School Sales Pitch
Tesler App is a hoax. There is no denying this, and if you listen closely to their sales pitch you will realize it yourself. Is it really possible to make $5,700 on your first day of trading using this system? We think not, and the facts are on our side.
Tesler App Leverage
The standard leverage for brokers accepting members from schemes like Tesler App stands at 5,000:1. If you do the math you will see that this is a huge risk. That’s because leverage is similar to a loan. If you default on a loan the bank can foreclose on your house or anything of value. The same is true in this case. Investors who leverage their account can and many times do end up losing more than their initial deposit of $/€/£250.
Is Tesler App Supported By The Various Coin Exchanges?
This short and quick answer is no. The app is not supported by any of the coin exchanges. If you read any Tesler App review which claims otherwise please refer them to this page. Then proceed to have them provide you with an explanation.
Tesler App Cashier (Deposits and Withdrawals)
When we conducted our deposit test we were provided with a QR Code. Then we were referred to a Bitcoin wallet. Once we funded the account a manager named Mike Zachs called us and wanted us to deposit £5,000 “if we wanted to make some real money”.
According to our experience, funding the account was very simple. However, when we tried cashing out it was practically impossible. We were totally ignored and even advised to “go away” unless we wanted to invest more. How professional is that?
|Drawbacks Versus Benefits
|This app is totally anonymous.
|This app has not been back tested.
|Regulation and Patenting
|This app is simply illegal.
|This is intentionally hidden from users.
|Latency is high. Lots of lag and slow loading times.
Tesler App On Trust Pilot, Reddit, Facebook, And Other Forums
We have seen more than a few fake profiles on social media, Forums, and review platforms. These profiles are used to promote the Tesler App and deceive viewers by claiming that it is legit. We encourage you to take a closer look at these fake reviews and only act on advise from professional review websites from the finance or cryptocurrency niche.
A Few Tested Alternatives
We have gone the extra mile and made our trading apps available for you. All our recommended systems undergo a rigorous screening process. Before we recommend an app we use it ourselves and risk our own money. If the software generates consistent profits we add it to our short list.
Tesler App Review: The Verdict!
Blacklisted trading app! We have enough evidence to conclude that the Tesler App by Steven Abrahams is a scam. This bogus trading platform has been around for a long time, but has recently resurfaced. The reasons for this vary, however the end result will always be the same.
Simply put, the victims who are lured into investing will lose their money. Conversely, the scammers and unlicensed CFD brokers will end up with pockets stuffed full of cash. That is how this appalling get-rich-scheme works, so please don’t invest. If you wish to receive additional information regarding the fraudulent Tesler App AKA Tesler Trading, please make sure to reach out and message us via our contact page.