Now before you sign up for any type of binary options trading platform, it’s imperative to check its legitimacy. Apparently, no one wants to invest in a system that does not pay dividends. The whole idea of trading binary options is to make a profit and so if there is no return, then the effort you put in is pointless.
Our years of experience in the binary options industry shows websites that say you can signup for free and make huge returns, as a result, are in fact scams. Consider how would it be possible to make money from nothing? What are the platform’s developers getting? We put these and more questions to Breaking Binary to find out the truth about this platform with startling revelations.
No Basic Information
The first question we asked ourselves was, is Breaking Binary a scam? One look at the website, and it’s pretty clear that they offer nothing of value. But as you decide to explore the landing page of the website its surprising to see that there is absolutely no information. The introductory video is boring, but it too has no information to convey. Despite the lack of information, they have the audacity to call themselves the no. 1 Binary Options Signals platform.
Dig deeper into the website, and it’s clear that they have no authentic trading info to share. If anything all of this points to it being a dubious binary options system aimed at perhaps scamming people.
Who created the system?
According to Breaking Binary, it is an American website. But they are new entrants into the binary options trading industry. Having no established base means that they cannot be trusted. You just cannot trust a brand new business that does not offer any details even if it’s supposedly free. The signals system banks on an anonymous team of traders. But despite being free, you’re expected to make a $200 deposit to start.
The 14-Day Trial is a Ploy
Signing up requires that you provide your email address and name, later make a $200 deposit. Despite this starting amount being lower than other similar systems with the norm being $250, it is still a lot to ask. But as you proceed the system it will show you that with $500 the service’s premium features can be accessed. The ploy here is clear as day and is an indication of it being a scam.
The ploy works by first advertising a 14 day trial period during which you can start receiving signals for $1. It also says that if the person using the system is not satisfied with the quality of the signals they can ask for a refund. That said we would be cautious when it comes to trusting such statements. We wouldn’t advise anyone risk their hard earned money on such systems. After all, we don’t think it makes much sense paying even $1 for a 14-day trial which in most cases should be free.
What to Expect regarding Payouts and Returns
The payouts and returns are a little tricky as you’d guess with the Breaking Binary system since its a scam. The general rule of thumb always is that the bigger your initial investment the higher should be your earnings or profits. Our Breaking Binary review experts discovered that they were offering an 80% return on investment (ROI). But we wouldn’t trust this statement and take it at face value. No customer testimonials can prove that this statement is even remotely true.
We reckon that the winning ratio has been concocted because nobody has ever received this type of returns. Plus, they don’t offer any incentives like a sign-up bonus.
Here is how the system purportedly works:
- You will start receiving binary trading signals via WhatsApp
- The service’s mobile app or a computer can be used to place trades
- Then you start getting profits from successful trades
Any successful binary options trader will tell you that making a profit trading is not easy. Regardless of how much experience you may have it’s still difficult. We find it fishy that the company offers no information as to how the signals are generated.
The FAQs highlight the fact that Breaking Binary is a scam. The questions are not factual and seem to be just wallpaper to fill up the FAQs section. The answers are not comprehensive, and so it leaves many questions unanswered. We also found that the website mentions nothing about using various trading strategies. Since information is so scarce, it’s a bad move to trust the system.
Is Breaking Binary Regulated?
The most important aspect of the Breaking Binary system is if it is being regulated? The brokers mentioned are not regulated by any regulatory body or even CySEC which is the bare minimum. So, why should you even consider signing up with a binary options broker who is not properly regulated?
Feedback from present and previous clients can give us a good picture of just how effective the Breaking Binary system really is. But there is no information in the way of reviews or feedback on the official website which is very strange. We tried searching for reviews online, on other websites but couldn’t find anything. All of this points to the fact that the website is very new and nobody has worked with them thus far. And even if they are people who have signed on to the service they probably don’t have anything good to say about them.
So, we come back to our very first question i.e. is it a scam? Yes, they are enough red flags to indicate that the service and platform is a scam. We always recommend our readers to conduct due diligence on their own before choosing any system. The same goes for Breaking Binary in addition to reading our review. It is up to you whether or not to invest in such a service.
If you really want to dive into trading binary options then find a regulated broker with good reviews. That way you can be assured that your investment is in good hands and will not disappear one day.
- Free Trial Isn’t Free
- No Evidence Of Results
- Uses Misleading Advertising