It’s clear
why binary options are so popular right now, trading with them is technically
very simple. I mean anybody can understand their task when they have to decide
whether the price will go down or up.
The problem
is that meanwhile trades are technically simple, predicting price movements
correctly is far from being simple. You need learning, testing and some
experience to trade profitably.
Although
there is of course a big group of people who will tell you otherwise. Take
Penny Millionaire as an example. They tell you that using the compoundingeffect you will earn one million dollars in a single month starting with a
single cent.
How is that?
It is very simple, you will be doubling your money every day. As if it was easy
to do. It is not. Doubling your money within one year is a very good result in
trading. Doubling your money in one month is a miracle. But doubling your money
every day? It is impossible. So Penny Millionaire is of course a scam.
Another
example: Code Fibo. They say that this trading system uses Fibonacci numbers to
make big profits. But it is the same case as with the compounding effect. It is
a tool, everybody knows it, but if it would be easy to make money with it, the
world would look different.
The truth
is that Code Fibo is a scam too. And the worst thing is that you can find
positive reviews of both these trading systems. How is that possible? It’s
because binary options scams are a lucrative business.
Scammers
get paid by brokers for referring new traders, so they make up new BS stories
everyday about free money just to convince you to send money to their broker.
So beware!
