This year has seen quite some big political events happening. The most notable being the US Presidential Elections later this year. However, the one event that will be talked about for a very long time to come is the UK’S referendum to exit the EU (Brexit). The vote greatly affected financial markets, including binary options trading and binary option robots, which deal with the GBP. Since the Pound is used in almost every financial market, the overall effects have been adverse and are expected to be even more drastic in the next few years or so. While some traders suffered huge losses due to the market fluctuations, others looked at the brighter side and made huge profits. There has been quite a number of automated trading sofwares and signal systems which have been designed to utilize the Brexit sensation. As expected, most of these are just scams out for a quick buck.
Talking about auto traders created to take advantage of Brexit, one that comes to mind is Paul Harrison’s Brexit Bot. Although it was launched around June 2016, the Bot is still making headlines. As such, a lot of traders are interested in knowing whether to pay attention, and possibly trade with Brexit Bot or just move on to another Auto Trader. Well, we got the answer to that, and more.
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Brexit Bot is an automatic trading system, created by Paul Harrison and launched some days after the historic Brexit vote. The system is designed to analyze the financial markets and place the most profitable trades as far as FX trading are concerned. As its name suggests, Brexit Bot is said to turn a probable loss arising from fluctuations into a profitable opportunity. The Bot guarantees you, the investor a minimum profit of $25,714 per day. You read that right, Brexit Bot will fill your bank account faster than your 9 to 5 job will!
Paul Harrison does a long video trying to convince us to sign up and invest in his software which he calls revolutionary. What he doesn’t do is give us concrete reasons why we should do that. Which is why he resorts to the old tried and tested method of using humans’ greed for easy money against them. And it’s no secret, visit BrexitBot.com and the only new knowledge you will gain is the name Brexit Bot. If you do visit the site after reading this review, you will notice all the finer details which you didn’t or couldn’t notice before.
Accuracy of Signals
In the sales video which is the first thing you see on visiting the site, the software is said to be correct 92% of the time. This, in simple terms means that Brexit Bot, is able to predict the price movements of GBP and related pairs with near perfect accuracy. And it goes even further. For a minimum deposit of $250, the daily profits will exceed $20k.If only wishes were horses…
Here’s the thing, all that is pure, utter nonsense. First and foremost, the hullabaloo resulting from the referendum has all but died. The market fluctuations are no more. This is because the UK has not yet started formal negotiations with the EU on the exit strategy. The discussions are expected to start some time later next year and it might even take another 2 years for UK to officially leave the regional body. So, when Paul Harrison goes on record saying how the drastic effects are changing the market, the question we ask is, what effects? As a matter of fact, the markets (and pretty much everyone else) have recovered from Brexit and the stability will probably last for quite some time. That is, unless the US Elections take an unprecedented turn, or the Third World War erupts.
That said, let us look further into Paul Harrison’s claims, in particular the part about the Bot’s accuracy. First off, the highest rated Auto Trader in the world has a documented accuracy of 89%, 3 percentage points below Brexit Bot’s alleged hit rate. Then, there is no trading software in the world that can claim to be as accurate as Paul Harrison and his crew leads us to believe Brexit Bot is. Secondly, the daily profit figure is too high for an unknown basic trading software. Heck, even the premium sites do not promise that much – in fact, no self respecting site quotes a daily/weekly/monthly profit figure. Doing that might lead to lawsuits if the traders don’t earn what they were promised.
Again, the risks in today’s markets are just too high. No one knows what the next minute will bring in terms of price action, let alone what might happen the next day. Granted, BrexitBot.com is no self respecting site, on the contrary. They lie too much without realizing that traders have also become brighter. Perhaps they do it knowing that nothing will happen to them? That might explain why there are no details about the company that owns the site or the physical address.
Brexit Bot is the new Brexit Money Machines
If you remember, some days after the UK’S referendum, a trading software by the name Brexit Money Machines emerged promising big, and became an overnight sensation. This only lasted as long as David Cameron’s remaining term after the polls. In no time, the software was rated as a scam and it closed shop. Today if you visit the site, you will find all the information that was there concerning binary options has been removed, leaving only some fake ads. Now, since we have quite good memories, we remember exactly what Brexit Money Machines looked like and what it promised. And watching Brexit Bot’s sales video, we notice quite big similarities.
The most notable similarity is the explanation of how the system works. Brexit Money Machines was said to take advantage of the poll to turn around their members’ fortunes. Paul Harrison makes more or less the same claims when selling Brexit Bot. Another thing we noted is that on Brexit Bot’s testimonials section, there is a man called Jason P. who claims that in less than a month, Brexit Bot has nearly turned him into a millionaire.
Of course no one believes that crap, not in 2016. Nevertheless, that is not the issue, our problem is we saw the exact same man (the photo, that is) saying the same thing about Brexit Money Machines. And you guessed it right, under a different name. Also, we find it a bit odd that Brexit Bot’s logo looks very similar to Brexit Money Machine’s – from experience, we can tell that it is not a coincidence at all. That, coupled with the fact that Brexit Bot was launched a few days after Brexit Money Machines closed up convinces us that both sites are owned by the same people.
Keep of Brexit Bot
There are a lot of reasons why you shouldn’t trust the site at all costs. Some have to do with the fact that it is closely related with a known scam, Brexit Money Machines. However, that is not the only reason why we think linking your trading account to Brexit Bot is financial suicide. Below are some of the other reasons, feel free to visit BrexitBot.com to confirm for yourself.
Paul Harrison’s millions
There is a part in the presentation video where Paul Harrison says that he made several millions in profits for the six or so weeks after Brexit. Do not be fooled by his straight face when he is saying all that – there is no truth in those statements. We established that the domain name BrexitBot.com was registered on 20th July 2016, which is not even 4 weeks ago. Considering the sales video was posted several weeks ago, there is no doubt that Paul is exaggerating things. Again, as previously mentioned, the GBP and related currency pairs have recovered from their historic low in July and there is no way Paul would have earned that much following the same formula.
The exaggerated profit figures
If there is an openly obvious lie in the entire presentation, it is the one about the profits that one stands to earn when using Brexit Bot. The first thing you see on landing on the members’ page is ‘Sign Up Today to Earn $25,714 in One Day”. Anyone with even half a brain will know that there is no such thing. That borders on giving away free money, considering only a minimum deposit of $250 is required. The truth is, the only free things in the world are air and sea water. Further down the members page is some sort of comments section which is really nothing more than a collection of fake testimonials. Here, you read all sorts of things, including how a certain lady earned $600k in a span of one month. Others claim to have left their jobs after realizing that with Brexit Bot, they could make double, even triple what they previously made in active unemployment. All we can say is, lies, lies!
Where the brokers at?
We noticed that all through the video, and on the site, there is no mention of the brokers associated with Brexit Bot. This is pretty odd as many sites are very open when it comes to their affiliated brokers. Even so, only the legit ones are that open. Sites like Brexit Bot may find it hard disclosing the brokers on their list as they are nothing to talk about. We suspect that the list of brokers is kept under wraps because it contains highly suspect brokers, something that could further destroy the nonexistent reputation of the site.
Limited membership spots?
Another lie that Brexit Bot perpetuates and which we have seen in a large number of illegal sites is the one about limited membership spots. In Brexit Bot’s case, it is not about the number of positions but the amount of time. Allow us to explain further, when you visit the site, you have to provide your email address and name to gain access even before signing up, something we find very odd. Anyway, after doing that and proceeding, a timer appears at the top of the page showing you how much time you have left to register an account. If you believe this is true, try refreshing your browser and you will see a different time frame in the timer. It is very sad that Brexit Bot and its owners are so fake that they have to fake legitimacy.
Paul Harrison or Mr. Fiverr?
Since Paul Harrison claims to have been a binary options trader for several years and a millionaire, we were surprised to find that his name doesn’t appear in any of our searches in financial journals and binary options magazines. You would think that being such an experienced and revolutionary trader as he claims to be, there would at least be some trace of him. Unfortunately, we found zero trace, even on social media.
Furthermore, Brexit Bot claim to be a financial services company making huge profits yet the name doesn’t appear in the list of registered Financial companies in the world. There is also no telephone number or physical address provided on the site, which proves that the owners are afraid of getting tracked down after engaging in their fraudulent activities. Further still, for a site that claims to make such big profits, Brexit Bot is pretty unknown, even in binary options inner circles. The more reason why we think they are up to something fishy.
The question of whether Brexit Bot is a scam or not is not really a question to us. We already had an answer to that as soon as we got to check out the site page. Brexit Bot thus joins our long list of blacklisted softwares which keeps getting longer. We hope traders keep of the fake systems and pay more attention to legit ones such as Binary Options Robot which has amassed hundreds of 5-star Ratings.
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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.
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