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The Private Society is a binary options trading platform that was launched in 2012. It witnessed a rapid growth in popularity, and it is still considered a popular destination for automated trading. The software, which can be used online, is easy to use and promises risk-free returns to users. A lump sum bonus, in the form of registration-charge waiver, is also available for new players to try out the technology.
The Private Society offers trading options on simple market movements, especially in the forex market, which has a high trading range. There are several automated strategies that you can choose from the software for your trading. These strategies are based on universal indicators and are applicable to a range of market instruments like forex, exchange funds, options/futures, and commodities. However, the choice of instruments is irrelevant as binary trading involves trading on the direction of market movements rather than the movements itself.
The Private Society has a cult following and many have claimed to earn exorbitant returns with simple trading systems available on the platform. On the other hand, many users have reported the Private Society software as a scam that doesn’t do what it promises. In this latest Private Society Review, we explore the nooks and corners of the trading app and help our readers understand the software better.
Commissions and Fees
The Private Society is a $12000 software that is being given free for new users. However, new users need to deposit around $250 with a broker to start trading on the software. This amount can vary depending on the choice of broker. This is the only money that you need to give out to start trading on the private society software.
The Private Society has partnered with several brokers that specialize in binary options trading. The registered brokers are all licensed and offers different investment and trading products. One interesting thing to note here is that the $250 commission is non-refundable. There is also an annual account maintenance fees for private society account that goes to these brokers.
The Private Society trades on the market rather than in it. The system doesn’t bet on specific instruments but the direction of movements. This means rather than buying and selling the instruments, users must guess if the price goes up or down. This is what makes binary trading software like the Private Society so unique. The basket of investment products includes foreign currency (forex), cryptocurrency, shares, bonds, and commodities. However, no real value transactions are created while trading as binary-trading is an outcome-based trading model.
Regulations, Trust, Security, and Safety.
Binary Trading is totally legal and safe. However, it is also unregulated and there are no government laws that govern binary options trading. This creates a grey area for users who don’t know much about the finer details of binary trading. Private Society is a prime example of the darker side of binary options trading. It does provide some insightful algorithms that have positive returns, but it is not risk-free. The consistency of the software is not guaranteed, and you can lose money despite the tall claims by the software.
The Private Society runs low on the trust score and many users have also reported it as a scam. The truth is that the Private Society markets more than it can chew. Backed by several affiliates, the brand has become synonymous with keywords like zero-risk trading, no-loss, unlimited returns, etc. This has overplayed the actual return capacity of the software that is no different from other binary options’ trading models.
Traders and investors can make money out of the Private Society network, but it contains all the risks that markets are subjected to usually. Even though it works just like any other binary trading system, there are many affiliates that overhype the profit component and mislead users. The only genuine complain is that the Private Society registration fee of $250 is nonrefundable.
Research Tools and Insights
The Private Society uses advanced indicators to map the direction of markets. It uses a mix of lagging and leading indicators like Moving Averages, Support/Resistance Levels, RSI, Bollinger Bands, MACD, Aarons Oscillators, Volume, etc. A mix of indicators is used to form different strategies. You can get access to a gamut of different trading indicators and map them on a wide range of instruments.
While the genuinely of the binary trading model is still under question, we do like what the Private Society has to offer. One good advice is to approach trading with pragmatic expectations. When expectations are wild, it’s easy to make the classic mistakes of money management and risk management. We advise going slow in the beginning and gradually building up on your capital. Users should also understand their risk-appetite and accordingly set trading sizes. It is also important to set a stop-loss for all your trades without fail. Fortunately, the Private Society provides ample risk management options like stop-loss and leverage trading to help edge out the market.
Is this your final decision?
We suggest you visit one of the popular trading platforms instead!
- Good Returns on Some Strategies
- Wide Range of Trading Products
- Designed for New Traders with Automated Strategies
- Non-Refundable Brokerage Fees
- Over-hyped by Affiliate Marketers
7 Binary Options review: Private Society: 3 stars