Quick Report:
Name: Binary Predictor
Price: “Free” to join but then costs min $250-$1,000’s
Overall Rating: 1 out of 10 stars (Scam)
I’m going to advise you take major caution if you’re considering getting involved with Binary Predictor. I strongly believe it to be a scam.
Binary Predictor in a nutshell:
Supposedly it is a software that helps you predict which way stock prices are going to go and “helps” you bet on that which can lead to profits. By getting involved with this program, you are signing up to a binary options website which will cost you at least $250 to start with.
Why it’s a scam:
1) The biggest reason is that it’s one of the many sprouting binary options affiliate sites out there.
I have reviewed multiple binary options programs and all of them basically pitch themselves the same way this one does:
- They say it’s easy to make $100’s, $1,000’s and more very quickly.
- They all tell you to invest $250.
- From what I believe, they are all promoting some sort of binary options website from which if you join, they get paid a hefty commission. This is why there are SO many of these types of sites popping up.
Long story short, Binary Predictor isn’t any different from what I’ve seen.
2) None of the previous binary sites I’ve previously reviewed actually have a system that predicts stock prices.
It’s just not possible since these things change constantly. You can absolutely predict which way a stock will go, but predictions and reality can often be 2 different things.
Basically, in my experience and unless you possess insider knowledge (something these binary programs do NOT have as far as I know), there is no accurate way to predict stock prices unless you literally guess.
Again, there is NO system out there which will tell you where a stock price will go. You’re better off using one of the major stock trading websites and seeing which direction stock prices are going, then trying to make bets on if that will continue, but even in that instance, since binary options involve nearly immediate bets, you’re looking at a very serious gamble.
3) I found Binary Predictor from one of the many work from home scam sites. This was it:
Even though the site you see above looks “legit”, in reality sites like these are also widespread on the internet, all claiming to report on the latest programs that help people make money from home. They are called work at home special report sites and they are scams.
But don’t be fooled, these sites are nothing more than affiliate pages which link to ridiculous scams.
Notice however the link I underlined in red that says The 1 percent Club. It links me to Binary Predictor, but sites like this commonly change their links so it’s not uncommon to click on the link expect to see say product A and be linked to product B. It happens all the time on these scam sites.
Long story short, when I found Binary Predictor, it was through the above site. To me this signals another major red flag. In fact, this point and the fact that it’s a binary options program are the two biggest reasons I consider this program a scam.
3) This program is marketed to complete beginners to making money online/stock trading.
Binary options doesn’t involve actual stock trading, it involves betting on stock prices falling/rising, but the point here is that the way Binary Predictor is being pitched to you, the basic message is that it’s easy to make money with binary options if you use a special program which will tell you when to call/put (which way to bet on binary options).
This gives people who are new to this industry the impression that making money is easy, but in reality, in addition to what I mentioned above, you need to understand that this get rich quick mentality is also a scam in of itself. Use rational thinking before you ever make a decision on a program. Ask yourself this:
Why would anyone want to promote a “Free” system to you that could make you tons of money? Are they doing it out of their own good will?
I highly doubt it, but there’s tons of people who fall for this. They are simply doing it to make money off you. Remember the free stuff you get is nothing more than you signing up to their email list so they can keep contacting you with future offers and because they will make a commission once you join their “recommended” binary options website.
The main point here is that people who are new to this business are likely going to lose a lot, unless they absolutely get lucky, I don’t see any stability in this form of making money.
Pros:
- None.
Cons:
- The site is just a referral site, nothing more in my opinion.
- The owner of this “program” makes money when you deposit money into the binary options website.
- This site was found through a scam site.
Final Rating: Binary Predictor
Red Flag (Scam)
1 out of 10 stars. I say it’s a scam and advise to stay away from it. Making money online is NOT a get rich quick scheme and anyone who tells you it is, is lying to you. If you want a legitimate way to succeed, my #1 recommendation is this alternative, Wealthy Affiliate.
Final thoughts & understanding what binary options really is:
It’s really a gamble, plain and simple. Stock market prices fluctuate many times during the day and with binary options, again you’re not betting on the whole day of a stock price, you’re betting on what will happen to the stock several times a day. This could be what will happen in the next 5, 10, 15-30 min.
And even using an example of a stock price which ends higher than when it started, there’s always fluctuations during the day which cause it go down. Even going down by a little bit and you betting on it going up because you see an upward trend still counts as a loss to you. Now multiply that by betting on many stocks and you will see that this business is extremely risky to make bets with. Here is the clearest example of my point:
Now this doesn’t discount that people are making money with this industry, but I strongly feel that it’s still a very risky gamble. I don’t consider the industry a scam itself, but it’s extremely difficult in my opinion to make it work so unless you have money you’re ready to lose, I wouldn’t advise binary options NOR any of these programs sprouting about.