While binary options trading is a great way to earn some extra cash, it is important to invest your money wisely. Automated trading systems can be extremely beneficial, especially for those who are new to the world of binary options trading. So it is essential that you know as much about a trading system as you possibly can before investing any funds. If you do not register with a legit and trustworthy trading software program, you could end up losing thousands of dollars.
A good way to prevent this is to read online reviews. Not just on the company website, but off site as well, in forums as well as reviews by experienced traders and professionals, such as ourselves.
Opus Formula is a system that was released earlier this spring and claims to be able to earn traders thousands upon thousands of dollars in weeks with just a few simple clicks. Is this system to be trusted or is it fraud, like so many others? Read our Opus Formula review for more information on this trading bot.
Software: 100% Automated
Max Returns: Up to 88%
Minimum Deposit: $250
Countries: All nations
- System is fully automated
- Easy to use trading format
- Customer service is rude and slow to respond
- Customers are unable to choose their own broker
- No proof of profits
- Brokers are not required to be regulated
Not Reliable Service
What Is the Opus Formula?
Opus Formula was designed by Lex Simmons Jr. One of the first warning signs that this system might not be trustworthy is that Simmons rambles on for what seems like hours about how Opus Formula is not a scam. In fact, he “rats” out a few other systems in his spiel for Opus Formula, but he spends a great deal of time and effort stating that Opus Formula is not a scam.
Also, he says that the video will “disappear” once it has reached 100 views, which is a lie, as it the software was released earlier this year and the website is still up and running. Tactics like this are used quite frequently by scammers to entice traders into signing up with their program. You should also be on the lookout for catch phrases such as “private invitation only,” “exclusive offer” and other such phrases. Also, countdown timers and “number of spots remaining” pop-ups are other methods used by con artists to trick innocent people into falling for their money making schemes.
How Does It Work?
Opus Formula supposedly uses a series of completed numerical algorithms to predict which assets will be profitable. Simmons claims Opus Formula has an accuracy rate of 96%. Obviously, this is completely impossible. Even the highest rated and most trusted brokers can promise an 87% success rate. When someone tells you their success rate is over 90%, you can be assured they are stretching the truth.
First of all, even the most trusted automated trading programs only have a success rate of 87% so anytime you notice that a system is promising high earnings such as this, it cannot be trusted. And while you can earn a decent amount of money trading binary options, it is impossible to earn millions in a year unless you are willing to invest a great deal of money up front.
To use Opus Formula trading software, you must create an account with one of their brokers and then make an initial deposit of at least $250, why you can immediately use for trading. The system is automated so it will initiate trades on your behalf. Once you earn some money, you can follow the proper channels to withdraw your funds and use then as you see fit. You can their reinvest your winnings or have the money transferred to your bank account. However, we discovered that their withdrawal process is unclear and quite tedious.
During our Opus Formula review, we found out that the system is not licensed nor are the brokers regulated. This means that they do not adhere to a governing body so there are a lot of gray areas when it comes to their policies. We do not feel that this system can be trusted as a result.
Conclusion: Is Opus Formula a Scam?
Due to the numerous customer complaints from traders who have lost all of their money, as well as the above-mentioned details, we cannot recommend Opus Formula as a safe and secure trading system. We cannot say with absolute certainty that they are indeed a scam, but we do not advise opening an account Opus Formula. There are plenty of other more reliable and accurate trading systems available other than this one.
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