BinaryXTrader Review

Trading binary options is a good way to make money from the comfort of your home or office. You can even make money on the go because most of the programs are compatible to smart phones and tablets. The difficult work is finding the right platform to handle your investment. This means you will need to study the available alternatives to select the wheat from the chaff. This is a review of one of these programs, the BinaryXTrader.

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BinaryXTrader: What is it all about?

This is a relatively new binary option program promoted by one Jeff Foxworth, a reportedly prolific trader with more than 3 decades of trading under his belt. He says he and team of professionals built this software from scratch and so they know very well how well it works. This software makes you money by making detailed analyses of financial data form multiple sources with the aim of generating good signals that will make good winnings in the binary option marketplace. The information available gives indications that this software could be a great one if their claims of efficiency and profitability can be proven.

According to the sales video, this software should be going for $299 for those who would want to have it. The video clarifies that while this is the official price, traders who sign in with BinaryXTrader within the next 60 days will get it for free. These 60 days seems to be constant and so you can safely assume that the software is free.

Jeff Foxworth tells of the superiority of his BinaryXTrader in comparison to the other outfits in the market. Here, if you are to believe him, you will be making between $13,000 and $15,000 each week when you open a trading account with them. Since it is free to join at the moment, you will only be required to put up your $250 minimum deposit and you are good to go.

Opening an account at BinaryXTrader

Opening an account with this system is not difficult at all. You will fill in the info needed in the provided spaces to set up your account. When this is done, you will be assigned a broker to register your account and to receive $250 deposit or any other amount above that. The broker you will be assigned will appear as the default broker in your account. The number of the brokers who can register your account is 4 and these are Magnum Options, Binary Book, Big options and Go Options. Once you are through with this hurdle, you are ready to trade the binary options.

Testimonials

The sales video does not post for you testimonials of people who are using this platform; quite unlike most of the new binary options who must have detailed account from people who always claim that the financial rewards are immense. After you fill in the required form, you will enter to the next page where you will have 3 testimonials from people who claim to be traders with BinaryXTrader. Some of the ‘satisfied’ customers give the impression that you too should join in and make as much money as they are making now. These are said to be actors because at least 2 of the can be traced back to freelancer sites where they declare that they can help promote your product for as little as 4 am.

BinaryXtrader

BinaryXtrader

Benefits of trading with BinaryXTrader

  1. If it is proven to be workable, you will be in a position to make between $13,000 and $15,000 every week. This will come from the trades that they will execute for you. The trades will be successful because the signals that they are based on are very accurate. The accuracy figure given here is at 90%. The implication here is that only 1 out of every 10 trades is likely to be a loser. These are very good odds and if proven, you could have a very good income from BinaryXTrader.
  2. The system is fully automated. You will be required to invest very little time and effort to make profits with this system. What you will do is open the account, set up the maximum allowance for each individual trade and that is it. All the analysis of data, financial and technical will be done for you by the system. It is not one of those programs where you will spend all your waking hours, and a good slice of your night by your computer studying trends, analyzing data from indicators and choosing expiry times. All this is the work that the system will be doing in the background. You can use the time you could be doing all these to do other things, and with a constantincome from BinaryXTrader, you will have plenty to do.
  3. This system will change your life. What will happen here is that the profits you will make, especially if you compound your profits to make more money is that all the stuff you wanted to have and you could not afford will suddenly become easy to get. You can buy property, pay off mortgages, go for exotic vacations and generally have a better life.
  4. Being an automated system, there will be no need to come armed with degrees and diplomas in economics and finance. You will not require years of binary options or trading forex and futures to make profits here. You will just postyour deposit, create the favorable settings and your account will be making money for you in no time.
  5. The system is easy to use and negotiate. Right from the easy account opening process to setting the right strategy and options, the user-friendliness will amaze you. This is because the system has been developed with the user in mind. The professionals who built this software recognized the difficulties traders were experiencing with other software, especiallythose that have not been updated for long, and sought to solve those problems.
  6. The system is free, but for a time. All traders who join in at this time will get their software free of charge. When the free joining offer period expires, traders who will wish to join then will have to pay $299 for the same software you are getting for free today.

Should you let this BinaryXTrader handle your investment finances?

  • The software was just launched the other day. It has not proven itself as a reliable binary options program yet. This is a competitive market and there are other systems which have been around for some time and they are already making profits. It would be unwise to rush into an unproven system.
  • The testimonials that are found on the BinaryXTrader seem to an experienced eye like they are contrived. The faces seen there are of freelancers who charge a small fee to promote anyone’s product. This being the case, the system developers are not being straight here and you will wonder what else is sugar coated with this program.
  • There is this notice on the website that says that the software is free for the next 60 days and after that the purchase price of the software will rise to $299. Do not rush to join in yet in a bid to avoid paying top dollar for the software. This 60 day notice does not change and it is not going to elapse any time soon. The developers just want to sign up immediately so that you can start trading just as fast as that is the only way they will make commissions.
  • Looking at the system, you will not find any form of customer support. How then will you trade when you cannot contact anybody should you experience hitches when on the job? This is a serious omission. It would be wrong if you were to make a deposit to a platform where getting your voice hard is almost impossible.

Overview

BinaryXTrader could be a great binary options software in months and years to come, but it must be let to develop further until you can find reliable and independent traders who will confirm their reliability and profitability. If the system comes good in 6 months, will you wait for it to mature in the business? Of course not. You need a system that will make you guaranteed profits today and not in an undetermined future.

What you can do today is open an account with Binary Option Robot, a respected and reputable binary robot that is well known for generating great signals which gives profits to thousands of traders today as it has been doing for years now. Binary Option Robot only works with brokers who are reliable and credible. You will not deal with brokers whose track record is not open enough for everybody to see.

Binary Option Robot has comprehensive customer support systems. As a trader, you need to know that in the unlikely event that you meet challenges when trading, there is staff waiting to sort you out. With this program, you can either contact customer support with live chat, email or telephone.

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References and Further Reading

Pricing of Contracts for Difference in the Nordic market

Locational price spreads and the pricing of contracts for difference: Evidence from the Nordic Market 

Exchange traded contracts for difference: Design, pricing, and effects

CFDs: The Definitive Guide to Contracts for Difference

Less of a puzzle: a new look at the forward forex market

FOREX Risk: Measurement and Evaluation Using Value-at-Risk

Michael Allen Gives Overall Rating:

Michael Allen

Michael Allen is the main author at www.binaryoptionrobotinfo.com. He holds a PhD in Economics and has worked in investment banking for 24 years.