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For the past 2 decades, advancements in new technology in the computing industry and new product innovations in the financial industry has helped to contribute greatly to the growth of the online trading industry. For example in 2008, we saw the introduction of binary options trading on a retail scale. And with the rising popularity of binary options trading, this has also prompted the growth of many niche industries to support traders with their trading activities. One such niche industry is the automated trading system or trading robots as they are sometimes known. These automated trading systems are designed to make the trading process easier for traders. While there are legitimate developers of such systems, there are also many systems which are designed to scam traders out of their money.
To help traders from getting scammed by these fraudulent systems, we reviewed any such systems that have surfaced recently on the internet. We hope by providing our readers with an objective review of these systems, they will be able to use the information to avoid getting sucked in by the claims made by developers of such systems.
For this review, we will take at look at the “Compound Trader”, a trading software that claims to help its user make a million dollars in just 60 days. Do you think they are for real or just a scam? Read on to find out.
Software: 100% Automated
Max Returns: Up to 86%
Minimum Deposit: $250
Countries: All nations
– Free Software
– Unproven Software
– Trading with unregulated brokers
Not Reliable Service
What is the Compound Trader
The Compound Trader system is said to be developed by an individual called Doctor Albert Henderson. In the marketing video for the software, Doctor Albert Henderson reveals that the Compound Trader is an automated trading system which helps its users earn $770 an hour from trading on autopilot.
While the idea behind the software is a good one, we are not sure about its actual performance. From our initial observations and research, we noticed some red flags which points to this software as nothing more than a scam.
For starters, our research has found out that the Compound Trader was formerly known as “Globe Traders”. Later, it was rereleased as Compound Trader in July 2016. The reason for the name change was not made public but we assume it was to generate hype and interest in a software that is lackluster in nature.
Secondly, our research into the background of the developer Doctor Albert Henderson turned up nothing. This is another red flag that we noticed. Either the developer is a total hermit or he doesn’t exist at all. Our guess is he is of the latter as it is unlikely that a developer of such a “wonderful” software as the Compound Trader doesn’t leave a digital trail on the internet.
How does it work?
From what we learnt, the Compound Trader is essentially a binary options trading robot. It makes trades on behalf of the trader automatically without human intervention. It is activated when the system spots a trend in the market. The initial capital deposited is then spread out over several trades. And from the profits generated, it is reinvested by the system to make even more profits and hence compounding the profits.
Actually, the explanation on how the software works is both logical and reasonable. But what defies common sense logic are the claims made by Doctor Henderson. First of all, he claims that the software has a win rate of 98%. This means that out of 100 trades made, only 2 trades will be unsuccessful. Next, he claims that it will be able to help its user make $770 per hour.
In truth given this high success ratio, no binary options brokers in the world will be able to sustain their operations for long! So our take on those claims made by Doctor Henderson is that they are most likely nothing more than sales talk.
If you are wondering how to gain access to this software, you first need to sign up for a trading account with one of the recommended brokers that supports trading with this software. Next, you need to make a minimum deposit of $250. Take note that none of the recommended brokers are regulated. This means if anything happens, you are on your own trying to get back your money.
To help convince you to sign up for the software, Doctor Henderson in his marketing video says that he will fund your trading account with $5000 to help you get started. We are highly suspicious of his offer as we mentioned earlier, no background of a Doctor Albert Henderson exists on the internet. So it will be quite difficult to collect on a promise of a nonexistent individual.
With its big promises and enticing offer, the Compound Trader system seems like a god sent opportunity. The truth is you are more likely to lose your money with it than make a small fortune since none of the claims are substantiated by an independent third party.
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