Glory Trader Review
Nowadays there is an abundance of financial instruments that a person can trade online with binary options. With automated trading systems widely available as well, trading the complicated financial markets is as simple as point and click.
Although these automated trading robots might have helped to simplify the complicated trading process for beginner traders, many traders are still reluctant to use these automated trading systems due to the many fraudulent apps that are available on the internet as well.
Most of these fraudulent Auto Trader systems claim to be able to produce sky high profits for these users without any proof of performance making it difficult for anyone to put their faith in these systems. So is the Glory Trader automated trading system that was recently launched on the internet one such scheme or is it a legitimate trading robot that can deliver on its promises? Check out our review of it below.
Software: 100% Automated
Max Returns: Up to 88%
Minimum Deposit: $250
Countries: All nations
- Free Software
- No information on the creator of the Software
- Required to sign up with unregulated brokers
- Replica of known fraudulent systems
Not Reliable Service
What is the Glory Trader?
Essentially, the Glory Trader is a binary options trading robot. Its function is to help simplify the entire trading process so even a beginner trader can start trading like a pro. Designed to be user friendly, a trader using the Glory Trader system only needs to input the risk level that he is comfortable with as well as the amount that he wants to trade with. Once the trader has set the two trading parameters, the Glory Trader will take over the trading process and you can just wait for the trading results.
How does it work?
Although the Glory Trader is said to be an automated trading robot, it also comes with a manual mode for traders who want more control over their trading activities. By switching to the manual mode, the trader will receive the trading signals generated by the software. The trader then decides if he wants to place a trade based on the signal received. The Glory Trader uses a trading algorithm to generate the trading signal that the trades are based on.
It first analyzes the market for trends then based on the analysis predict if prices are going to rise or fall. And once it has managed to identify a profitable opportunity, it will then generate a trading signal and send the signal for the trader to act on.
The Global Trader is provided as free software. However in order to gain access to the software, traders are required to sign up and open a live trading account with one of the recommended brokers. You are also required to make an initial minimum deposit of $250 before you can start using the software to trade.
According to the opinions I found online, Glory Trader is not the most reliable trading system on the market. Here are some examples:
While there is no direct evidence which points to the fact that the Glory Trader is scam, we still strongly recommend our readers to avoid using this software while trading the financial markets. There are several reasons for our conclusion.
First of all, we couldn’t find any information about the creator of the Glory Trader. Instead what we found were striking similarities in the design and features of the software with two other well known fraudulent apps called Citidel LTD software and Tauibot.
Secondly, there is also no verifiable information provided concerning the performance of the Global Trader. And while the software is provided as a free software, it works in the same manner as other fraudulent apps in trying to induce subscribers to sign up and open a live trading account with a list of unregulated broker. By doing so, the promoters of the Global Trader will receive a commission from the brokers for introducing clients to them.
Furthermore, it is likely that once you have signed up to use this software to trade, the software will automatically take up losing positions and lose all your money.
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