Scammers know that everybody is out to make a quick buck. This insatiable urge to make more money is what drives many to fall for their scams. They know that all it takes is to come up with a promising concept that promises high returns on investments within a short period of time. They will go ahead and tell you that it’s a newly discovered secret and to be part of it you will be required to part with some cash. This of course happens after they have managed to convince you through some bogus software that their product actually works.
There is nothing wrong with wanting to make that extra buck. It always comes in handy on those rainy days. It is however important to also consider assessing any scheme that promises the world without breaking a sweat. So how do we identify the scammers from the real deal? It takes a lot of experience and a keen eye to be able to point out the scam from the legit. There are usually a lot of telltale signs that that should be able to expose the scammers from the real deal. Let`s check out a few examples on how to tell the difference. Today we review Binabot 2.
Well before we continue, it is important to note that Binabot, Binabot 2 and Binadroid 2 are in no way affiliated to Binadroid. The softwares belong to two different companies that have different management. It is easy to get confused as the names are somewhat similar. Now that it’s out of the way, Binabot 2 is an application designed to trade on binary options. Unlike most binary trading software, Binabot 2 claims that it is actually an application that has been engineered with the ultimate precision for maximum accuracy. In fact, it claims an unrivalled 98% precision accuracy. Well, if the numbers are anything to go by, this figure is set to attract a lot of attention. Who wouldn’t want to trade with this kind of surety? But before we digress into whether these figures are actually attainable, let us demystify Binabot 2. Designed by Troy Everett, Binabot 2 claims to reduce the risks and increase the rewards. This according to Troy is due to the fact that they managed to crack the binary options trading secret codes. This apparently should tremendously bring down the risk of losing out while increasing the rewards.
So how does Binabot 2 work?
Binabot 2, which runs on an Android platform is said to be available on hundreds of thousands of smart phones that run on the Android Operating System. It claims to be able to predict the changes in the market due to the fact that the market forces are determined by the customer`s behavior pattern. It then apparently uses this information to calculate possible outcomes based on past performance and calculated risks.
Is it Legit?
Well, the first red flag was when the improved version of Binabot, the Binabot 2 was launched, Troy Everett, the owner of the application turned out to be a different person from the initial Troy who launched the first version of the application. Needless to say that troy quickly went on to confirm that the person appearing on the launch of the first application was a paid actor. I don’t know about you but I find this suspicious. Why would you pay an actor to stand in for you? Unless of course, there is something fishy about the company. What`s more, this application has borrowed heavily from its successful competitor Binadroid. Everything from the interface to the design screams Binadroid.
The risk assessment factor of this application also remains unconfirmed. This means that there has been no single instance to prove that the system is fit to distinguish between a high risk and a low risk trade option. There is no evidence to prove that Binabot 2 is actually making profits. All that sign up for this service are basically doing so with the hope that the application will work as advertised.
Contrary to many scam binary trading websites, binabot2 webpage isn’t flooded with fake adverts and widgets that re-direct you to signing up for their services. However, a quick scan through the net and you will be surprised at the number of negative reviews from people who claim to have signed up for their services only to lose their money. There are also a lot of claims on difficulty in withdrawal of funds. For a company that claims to perform so well, the number of negative reviews by individuals on different platforms is mind boggling.
Is Binabot 2 makes its cut
Although Binabot 2 is heavily advertised as a free service, this is far from the truth. The owners of this company conveniently refuse to tell you upfront that once you register for their services, you will be compelled to deposit at least USD 250 to be able to trade. The catch is that you make that initial deposit to an unregistered broker. Troy and his team then make their money out of affiliate commissions from the deposit you make. This means that for every deposit made, someone in that company earns a commission. They would then care less if you make any money from their application. This is a scheme that has been used numerous times before to swindle people of their hard earned money. The sad part is that that by the time most people realize what is happening, they can`t really claim their money back.
There are a lot of companies out there that claim they can turn your investment into a fortune overnight. Binabot 2 has all the telltale signs of a scam company. It is important understand the risks that come with such investments before jumping onboard. It is imperative to conduct an intensive research on a company before choosing to invest with them. Always work with companies with a proven track record to minimize the risk of losing your investment.