Binary X Trader is one of the latest binary options promos out right now from some guy called Jeff Foxworth.
The software supposedly automatically places binary options trades for you by analyzing detailed financial and technical data so you don’t have to.
The software they say was designed by a group of professional financial analysts.
The video promo for Binary X Trader wants you to believe that there is a limited time for you to try the software for free but just like all the other promos that came before, this is a lie since they’re just using the free software provided by their recommended broker.
Apparently the software costs $299 but they’re giving it away for free for the next 60 days. Problem is that 60 days from now, they’re going to be saying the same thing because the truth is that there is no way to purchase the software from the Binary X Trader website.
Signs of a Scam
As usual, these binary options promos, created by affiliate marketers and not expert traders, all have sometimes hard to spot red flags throughout.
Having reviewed hundreds of these types of programs and promo videos, I can usually spot these red flags even with the volume turned down.
There are quite a bit in the Binary X Trader promo video and website.
Reference to Binary Money Mind
While reading the disclaimer at the bottom of the page, I spotted an unedited sentence that suggests the creator used the disclaimer from another website, one called Binary Money Mind.
Binary Money Mind is another website promoting binary options that was launched sometime in May of 2014. Binary X Trader appears to be a rehash or 2015 version of this site judging from the way it reuses the text copy from that website.
Judge for yourself:
I have no idea whether the creator of Binary X Trader is the same guy who did Binary Money Mind or he simply ripped off the site’s copy. Either way, there’s a problem.
If it’s a case where both websites belong to the same person, then the problem is that Binary Money Mind is from a guy called Mike Thompson. Binary X Trader is from Jeff Foxworth. This would be proof that both names are fake.
If it’s the latter case of one guy just copying someone else’s website then it shows how lazy and desperate the creator of Binary X Trader is and he’s just doing this for the same of earning some commissions from the binary options broker that he’s promoting.
I can’t tell which is the case but if I had to go with the whois information for each website, they belong to different persons.
Make Money without Lifting a Finger
The video constantly tells us that you can “make money without lifting a finger” and that you don’t need “any previous experience” to use the Binary X Trader software but you will make thousands and thousands of dollar.
I’m really tired of this because every single binary options promo says the same thing and people are being lead to think that this is the lazy way to make money online and that they’re suddenly going to be millionaires overnight.
If you leave it up to a computer program to do all the work for you, you’re probably going to lose ALL of your investment overnight.
The bottomline is that they’re just telling you what you want to hear so that you can go ahead and make your deposit. They’ll make their commission while you learn the hard way.
The initial video didn’t show any testimonials from customers but when you enter your name and email, the page you land on has 3 testimonials.
Like all the other binary promos that came before Binary X Trader, these testimonials are fake. They feature people from Fiverr who sell testimonials for as little as $5 and I instantly recognized the first guy who calls himself Alfred Thompson.
“Alfred Thompson” has appeared in lots of other promos claiming that their system has enabled him to make lots of money.
Binary X Trader Uses 4 Brokers
Binary X Trader doesn’t recommend one broker but rather lets you choose from 4 brokers as well as which currency you’ll be trading in.
The four brokers are Binary Book which appeared by default to me despite not being the first broker in the list, Magnum Options, Go Options and Big Options.
Depending on which broker you go with, the Binary X Trader software is the trading robot that you’ll have access to through whichever broker you choose. This means that there isn’t really a Binary X Trader software that was exclusively designed for this site. Maybe it’s co-branded or something but not the exclusive software being talked about in the video.
As usual, if you’re new to making money online or binary options then you need to be careful with these types of promos.
I do not recommend that you deposit any money at a binary options broker unless you’re prepared to lose it all. Binary options is more of a way to lose money online than a way to make money online. After all it’s more in line with gambling than actual trading.
Don’t be fooled with the no effort – big payoff type scams like this one. If you want to make good money online, you’ll have to put in some sort of effort.
You can build an online business that pays off month after money, year after year if you’re prepared to learn how it all works as well as put in some work just like any other business.