- Developing a Trading Strategy of Your Own - April 17, 2020
- How to Become a Great Trader? - March 2, 2020
- 7 Mistakes Novice Traders Make (Please, Avoid Them) - February 12, 2020
In the 11 minute long Lexington Code promotional video, we are first introduced to Michael Lexington, one of the creators of the Lexington Code. Speaking in a posh British accent and cruising around in his Audi R8, he tells us how the Lexington Code software makes an average profit of $500 to $5,000 a day.
He also tells us that the software is so advanced that in the past nine months of using the software, none of his traders have made a losing trade. That’s an astounding 100% success rate!
Michael explains that an unnamed firm has just ‘confirmed’ the trades made by Lexington code, and brandishes an official looking document in an envelope for proof. Now that he is about to take the Lexington Code public, however, he is looking for 25 beta testers for their new public server.
These beta testers will of course be able to use and profit from the software for free; all others will have to pay the full price of $3,500 when it is launched.
The video then shows Michael back at his Lexington Code offices with Barry Storyk, his lead programmer and fellow Boston University alumni. Barry, who created the technology behind Lexington Code, proudly tells us that he has a Master’s degree in aerospace engineering from MIT and a Bachelor’s in computer technology from Boston University.
It was in Boston University where he met Michael, and where they started creating software behind Lexington Code. Barry was so confident in the program that he even turned down a job offer from SpaceX in order to keep developing the software.
Barry then explains how the software works, which he calls ‘binary options with a twist’. Basically, in a regular trading software, the software would show you a potential trade for a fixed dollar amount and you as a trader either have the option to take it or leave it.
What the Lexington Code software does however is when presenting a trader with a potential trade, it actually makes multiple smaller deals in exchange for a higher fixed dollar amount. This increases a trade’s profit potential.
The video ends with Michael showing us various video testimonials from Lexington Code users on his laptop. In all the testimonials, the people gush about how much money they are making from using the Lexington Code software and how grateful they are to Michael for the opportunity.
The Truth Behind the Lexington Code Video
The Lexington Code video is another one of those high production binary options robot promotional videos. Those videos are usually filmed in Portland, Oregon for some unknown reason but in the case of the Lexington Code, the video creators have decided to move locations to London. Perhaps too many of the local Portland actors are being recognized by review sites such as this one, so they have decided to switch locations.
Due to the fact that the creators of the video have likely hired a local London production company, we were not able to identify any of the actors involved in the video. Even the video testimonial givers, usually sourced from Fiverr, appear to be from London as they all speak with a British accent.
However regardless of not being able to identify the actors involved, we can definitively say that all information that was presented by ‘Michael Lexington’ and ‘Barry Storyk’ in the video is 100% false. We know this because they tell us so (read the next section of this article on the website disclaimer).
Despite the high production values displayed in the video, with the use of professional actors and rented luxury cars and offices there are some laughable and amateurish mistakes made. Firstly, at no time does Michael Lexington tell us the name of the organization that is supposedly certifying his company. Shouldn’t that be important?
Second, the certificate of authentication itself. If you view the certificate shown in the video, you will clearly see that the text is just standard ‘placeholder template’ text and that the ‘stamp’ at the bottom of the certificate is empty! Obviously they took a standard template and didn’t even bother to fill it out properly.
There is also a laughable moment in the video when Michael pulls the certificate out of his envelope, and it is just a blank piece of paper. The video editors then shoddily Photoshop the edges of the certificate on the paper as he pulls it out of the envelope. Very funny when you see it.
The Lexington Code Website
The Lexington Code website looks professional on the surface and also features numerous testimonials. These testimonials contain a short blurb about how awesome the Lexington Code is, as well as their alleged join date and their profits to date. You can even click on a ‘Live Profits’ button and a popup will appear which supposedly shows you all the profitable trades these people are making.
Of course, none of these are real; the images used for the testimonials are merely stock photos. Further, the FAQ on the website is also inconsistent with the claims in the video, noting profits of $850 to $3,250 a day instead.
Lexington Code Website Disclaimer
We always encourage all traders who have received spammy links to the binary options robot landing pages to read the website’s disclaimer. If there is any truth to be found in the claims behind these binary options robots, you will find it there. And in the case of the disclaimer on the Lexington Code website, the truth is revealed. Here is an excerpt from the disclaimer:
“The lexingtoncode.com sales video is fictitious and was produced to portray the potential of the lexingtoncode.com 3rd party signals software. Actors have been used to present this opportunity and it should be viewed for entertainment purposes. We do not guarantee income or success, and example results in the video and anywhere else on this website do not represent an indication of future success or earnings.”
To summarize the above paragraph; everything you have seen in the video is false.
The Lexington Code Software
In the promotional video, the Lexington Code software is presented as some sort of new hi-tech and revolutionary trading software. The truth is however that it is just generic white label software bought off the shelf. And it’s not even unique, we have seen the same software being used on a few other binary options robots namely Prove My Profits, WikiTrader, and OneTouch.
The Lexington Code Business Model
The Lexington Code follows the same ‘code’ as all the other binary options robots out there; they make their money from affiliate marketing commissions. Their objective is to get to you to sign up with their affiliate broker and when you fund a trading account with said broker, they will receive a hefty commission.
This is the reason why these robots are always free of charge; don’t be fooled by Lexington Code’s claim that the software will eventually cost $3,500 and that you are some privileged beta tester for their public release.
Of course, even though the robots are free to use and will not charge you directly; since they receive a commission when you sign up through them with their partner broker, you are still paying them indirectly.
Robots such as the Lexington Code may also use affiliate marketing to promote themselves, so be wary when reading review sites that enthusiastically tout the benefits of such robots. More often than not, they too are hoping to earn affiliate commissions and their reviews are not to be trusted.
With regards to the forex brokers these robots often partner with, they are, to put it delicately, not at the top of the quality heap. They are in most cases completely unregulated, and it would not be unusual to find many complaints against them for unsavory business practices.
In the case of the Lexington Code, the broker we were redirected to from their website was 72Option. 72Option is a completely unregulated broker and there are also numerous complaints against them. Zero surprise there.
The Lexington Code has not discovered any sort of new code and it’s just the same old binary options robot business model being repeated over and over again. Michael Lexington does not exist, and you will not be making $500 to $5,000 a day risk free.
Furthermore, you will also be putting your money in the hands of an unregulated broker if you sign up through them. Stay away from this one.
- Cool British accents
- Fictitious claims
- Fake testimonials
- Unregulated broker