Binary X Trader Review
With new automated binary trading platforms emerging every day, one may be confused as to which one to choose. So many systems turn out to be scams as people are losing thousands of dollars; however, there are plenty of reliable systems. Traders just need to take a few minutes to read up on a trading system before signing up with a broker. In the following review, we shall take a look at Binary X Trader to see if it is reliable or just a typical scam.
Software: 100% Automated
Max Returns: Up to 90%
Minimum Deposit: $200
Countries: All nations
- Fully automated trading system
- Website design is user-friendly
- Negative reviews far outweigh the positive testimonials
- No one has yet achieved anywhere near the profits promised on the website
- Customer service is unattainable
- Promised Profits are unrealistic
Not Reliable Service
What is Binary X Trader?
Binary X Trader is a fully automated trading software that was designed by Jeff Foxworth. The system supposedly reads every single trading signal, analyzes it, decides if it is a winning trade, and then makes trades on behalf of the user. However, we are not given any information as to how the system analyzes this information, nor are we provided with any company information. In fact, when we tried to find some background information on Jeff Foxworth, we could not find any information tying him to Binary X Trader. The system does not appear to be legitimate. We tried to reach out to customer service and could not get a response. There are just too many negative reviews on this trading system for us to give it the green light.
According to Foxworth, one can earn up to 15 grand a week with Binary X Trader. Again, we need to point out that this high-profit margin is just not realistic. There is no legitimate trading software that can earn this much money in such a short time. It is just not possible. More reason to doubt the validity of this trading system.
How to Get Started
As with any other trading system, you must first create an account and then register with a broker from their list of recommended brokers. It must be said that none of the brokers on Binary XTrader appear to be licensed or regulated, so we find this highly suspicious, Just another red flag for this trading system.
Next, you are required to pay at least $250 as your opening deposit and only then can you begin trading. Once you have chosen your settings, the system will initiate trades for you. If and when you earn a profit you may then start the withdrawal process, which varies by broker.
We should point out that in our research, we discovered that traders did not only not make the profits they were initially promised, but they lost their initial investment and were not able to get a hold of customer service to inquire as to what happened to their money. We strongly advise that you do not sign up with Binary XTrader.
Is Binary X Trader a Scam?
Again, we cannot say for sure that Binary X Trader is, in fact, a scam. However, we do not recommend trading with this software. It is unreliable and has not yet produced the profits it promises on the sales page nor in the preliminary video. We also could find no information to prove that Binary X Trader is a legitimate company, or that Jeff Foxworth is a real person. If you chose to sign with this system, you are doing so at your own risk.
We simply cannot endorse this trading system. There are just too many loopholes and red flags for us to give our stamp of approval to Binary X Trading. We find the lack of unbiased reviews to be disturbing. We urge you to sign with a more tried and true trading system.
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7 Binary Options review: Broker X Trader Review: stars.