Product Type: Binary Options Software
Scam or Not: Scam
Overall Rating: 0/10
One of the most powerful lies that products make online is that you can make money easily. Often sites will claim that they’ve discovered some secret or loophole that allows you to earn a lot of money quickly and easily. But, of course, you have to pay them some money to get access.
Auto Binary Signals is one example of this approach and it’s actually a rehashed version of a scam that’s been going around for quite some time now. Specifically, Auto Binary Signals gets its name from a specific type of trading, known as binary options trading and the site tries to sell software that’s supposed to make binary options trading more profitable.
The Binary Options Side of Things
In general, binary options are a type of financial option. It’s an interesting approach, because the process tends to appear more simple than most other types of stock trading. With binary options, there are basically two possible outcomes, either you made money from a trade or you don’t.
Specifically, users try to predict whether a stock will rise or fall within a set period of time. Making a prediction costs money and users typically only earn if they get the prediction right.
The approach is highly questionable, especially as it is often promoted as a form of stock trading. This isn’t the case though, as the user is essentially betting against the broker.
The amount that you spend and win with binary options trading varies from one broker to the next – but in general, you would have to win at least 60% of the time to even break even and you’d have to win much more often to make a profit.
There is also a lot of controversy around binary options because of the manipulation and the brokers.
Currently, there are more than 400 different brokers out there and many people have faced issues where the broker doesn’t actually pay out if the user wins. At the same time, some brokers have also been known to manipulate price data to make members more likely to lose.
This pattern is a concerning one.
If you were to find a legitimate broker and if you truly understood the financial market you were betting in, then it might be possible to make money through binary options, in theory anyway.
However, for the most part, binary options promotions target people who know very little about the concept or the markets they are looking at. In many cases, these people may fall for claims that binary options offers ‘quick and easy’ money – even though this is rarely the case.
Auto Binary Signals
Like many other similar approaches, Auto Binary Signals is supposed to improve your chances at making money with binary options. It’s also supposed to be easy and fast – which should be an immediate red flag.
I mean honestly, do weekly profits of almost $60,000 sound realistic to you?
Also, where does that number come from? $59,177.10? That’s an incredibly specific number for weekly profits.
Basically, the site is promoting a way to ‘take advantage’ of binary options trading – using automated software. In theory, that software should increase your chance of winning trades, which would increase your profits.
I have actually seen this approach promoted over and over again.
Here’s the thing. Software for binary options trading doesn’t work. It’s as simple as that.
Realistically, how would it work? For the software to be effective, it would have to accurately predict market changes, which isn’t likely. Now, the site does provide some ‘proof’ of the concept but that doesn’t mean it actually works.
Realistically, it is incredibly easy to doctor results like this. Furthermore, you would always be able to find some ‘proof’ that the software works, simply because some of the time it would have to be right.
In theory, you have a 50/50 chance of being right with binary options trading. It’s much like trying to guess whether a card is going to be black or red. So, if you guessed 100 times, you would probably be right a number of times (around 50 times, in theory). But, that doesn’t mean you know what the cards are beforehand.
The only real way to know would be to look at the percentage of times you get it right.
There is no way of knowing how often this software actually gets things right. However, I suspect that it’s close to the amount of times that you would if you just randomly guessed.
Benefits and Advantages
The only advantage that I see with Auto Binary Signals specifically is that the site does make it clear that you are dealing with binary options right from the beginning. I’ve seen a number of sites like this that provide a lot of hype but don’t even tell you that the approach involves binary options until you’ve actually signed up.
At least with this site, you can go away and look up the topic before you even consider getting involved in it.
Issues with Auto Binary Signals
Beyond the hype of the site (which is excessive), the key issue with Auto Binary Signals is a simple one – it doesn’t work. As I mentioned earlier, a program isn’t going to have the ability to accurately predict fluctuations in the market – particularly if the broker in question is actually manipulating the information.
Besides that, if there really was a program out there that could automatically make profits from binary options, why in the world would anyone share it?
The standard arguments are that the creator is generous or that he gets a cut of what people make. But, those arguments don’t actually make sense. If he was generous, why not just donate to charity or something? And, even if he gets a cut, he would still earn more just using the program on his own.
Realistically, if you had a program that actually worked for this purpose, sharing it would be the last thing you would want to do. After all, the program would only work until the broker blocked it in some way – because there’s no way the broker would let users take advantage like that.
The one other major issue with Auto Binary Signals is the risk.
Most of the marketing for the product talks about how much money you can make and completely ignores the risk. For example, this is the site’s 3-step process.
In this case, the product itself costs, which is actually fairly unusual.
So, you’re paying $97 before you even get to look at the software itself. To be honest though, that isn’t a major risk. The product is being sold through Clickbank, which is actually a good thing in this case.
Clickbank does tend to sell extremely scammy products a lot of the time but the site is also pretty good at making sure people actually get their money back. So, you probably could get your money back through Clickbank.
The real risk comes from the binary options trading itself.
To trade with any broker, the first thing you have to do is make a deposit. Typically, that’s between $200 and $250 – and there’s a good chance that you simply won’t get that money back.
In fact, brokers are well known for putting all sorts of restrictions on when you can and cannot withdraw money. So, there’s a good chance that you will lose that entire deposit.
My Personal Auto Binary Signals Review
At the end of the day, binary options trading is little more than gambling, especially when you use a product like Auto Binary Signals. There is absolutely no evidence that software like this works and no reason to think that it would.
In the real world, you can’t simply pay a few hundred dollars and then effortlessly earn a large amount of money. It doesn’t work that way.
Despite this, the concept of earning money online is actually legitimate. However, if you want to do so, you need to follow a reliable and valid approach. Specifically, you want to be doing something that you can grow over time.
The most powerful way of doing this is an approach called affiliate marketing. You can learn how to do this at a site called Wealthy Affiliate, which teaches people everything they need to know, from the ground up.
And, unlike Auto Binary Signals, there’s no risk in taking a look at Wealthy Affiliate. The site has a free membership you can check out and you don’t need to provide credit card information to give the trial a try.