My First Online Payday

The rise of the binary options has attracted many traders and brokers alike into the arcade. The exponential rise of the binary options trading has also induced some scammers to the binary options marketplace and hence it is important for each and every trader to better comprehend the brokers and signal services before taking the real account. The rise of one of the signal services, “My First Online Payday” has caught our attention. So, we have decided to review the signal service platform to provide sufficient information to our readers to take a call on the software service. Let’s look at the various aspects of the software to better understand, what the signaling service software offers to their clients and what makes it better or worse from the other signal service providers.

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My First Online Payday Review

Sadly, we couldn’t find much information about the company. We also could not find the registration details of the operating company and the location of the company through their website. It is difficult to estimate the legality of the company when there is no information on their official site.  The site has no mention of their registration with any legitimate authority, creating lots of doubts.

CEO: Jeremy Mathews

The signaling service is available online through a web portal and downloadable software.

my first onlide pay main page

my first online pay day main page

The Platform

The website looks cheap and designed with video ads at the center of the page, describing, rather boasting the services with some reviews from the users. It also features an advert about $50 free bonus, which also goes on to saying that any profit you make is yours to keep. One of the most shocking things is that you cannot transit to any other page than the job page where you can see only adverts and the place where you can enter your details. Though the website is not a news site, it is designed to give you a feeling of a news website with features like top news, pro news, latest videos, tech tab, biz tab, market tab and news tab amongst others.

The videos in the center open with various voice-overs and flashes logos of various well-known news agencies like CNN, NPR, and others to grab the attention of the visitors. I visited almost all the news agencies listed on the website, and tried to search any news/blogs/articles about the “My First Online Payday” and found nothing on their official news sites.

The software claims that it is designed to help the binary options trader to make money with more than 95 percent accuracy. Meaning, the site provides signals, which can accurately predict the direction of an asset with more than 95 percent accuracy. You have to sign up with an affiliate online binary options broker and then use the signals provided by the software to trade in order to make money. You can use the automated route or the manual route to trade the binary options. In the auto mode, the software places the orders and completes the trade for you, while in the manual mode, you have to place the trades on the binary options broker site with the signals provided by the software.

first online pay main page video

my first online pay day main page video

The Cost

The binary options trading software can be used without any cost. The only requirement is that you have to open an account with the recommended binary options broker and then fund the account to trade. There is a subscription fee which applies to the software usage.

The Bonuses

Once you sign up to the site, the website automatically redirects you to the trading platform. The site promises $50 bonus, which can be utilized for 20 free trades. The site also claims that whatever winnings you have from $50 is yours to keep without any strings attached. Unfortunately, I got an error message every time I tried to initiate one of these free trades. This is pretty bad and suggests that the offer has already expired. It seems that it is just a marketing gimmick to entice you to sign up.

 

Payouts & Trading

The website offers up to 100 percent return on investment, but when you try to trade on the platform, the system doesn’t allow you to view what you are trading. The platform also does not allow to withdraw funds until 50 trades have been made. Even after 50 attempts, it is difficult to withdraw money from the account.

Support

The only online support option which I could find on the website is an e-mail support through support@myfirstpayday.io. This is also disheartening, as many brokers and software services provider provides various channels of communication to provide sales and support services.

my first online pay day video is a long one

my first online pay day video is a long one

Customer Reviews

As we could not find any good thing about the site or the software, we decided to go through the various customer reviews posted on the site. The reviews posted were all in positive note and boasts of the services of the platform. The reviews also listed the time of the posting (13 minutes ago and etc.) on the site. I checked the site after 8 hours and to my surprise, still, the same reviews were there with the same customer review of (13 minutes ago), showing the same time. If there were many customers, who were signing up on the site, then there should be fresh reviews and time should have been 8 hours and 13 minutes ago for the same client review. It seems that these reviews are all fabricated and does not show the reviews from the real customers.

The Verdict

From our review of the website, it is clear that the “My First Online Payday” though does a good job in marketing their product, doesn’t have a legitimate license to operate. The site shows lots of logos of various news agencies which we could not cross reference. Also, the customer reviews presented on the site proved to be a hoax. The poor website design, no information about the licensing and product features, not trading history, fake reviews on the site, exaggerated promises about the outcomes, use of well-known news agencies which we are unable to cross reference, and no customer support number has created a million doubts in our mind. Hence, our submission to all our readers is that there is legal binary options software available in the market, which provides legitimate signals to the traders.

One such recommended broker is the Option Robot. The Option Robot is associated with well-known and regulated brokers like Banc De Binary, 24Option, StockPair and BinaryTilt amongst various others. It provides professional signal services to their clients and the account opening with their associated brokers is easy. The Option Robot also supports a variety of assets and numerous technical indicators to provide efficient signals to traders to make profits. It uses Trend, RSI, MACD, Williams, Stochastics and CCI to provide signals along with an option for the client to cross-reference these technical indicators to generate suitable results. The signaling service also has a multi-lingual customer support; English, French, German, Italian, Swedish, Arabic and Russian. It also does not promise sky-rocketing profits to their clients, which is a sign of a good service provider. It offers three variants; Classic – trades the same amount, Martingale – raise investment amount after a loss and then drops back to original trade amount, Fibonacci – individual Fibonacci sequence is calculated for each asset and then it raises the amount after a loss and drops after a win. The Option Robot scores very high in terms of website design, its affiliated binary options brokers have proven track records, it has multi-lingual customer support and does not claim exaggerated profits from the trades.

Finally, we would recommend to using Option Robot for signaling service and would urge our readers to avoid the “My First Online Payday” completely, as we could not find the proofs of their exaggerated claims.

Exclusive offer! Get the binary option robot for free by clicking on the button below!

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References and Further Reading

  1. Information technology and screen-based securities trading: Pricing the stock and pricing the trade
  2. A Q-learning based approach to design of intelligent stock trading agents
  3. Fuzzy dual-factor time-series for stock index forecasting
  4. A multiagent approach to Q-learning for daily stock trading
  5. Demutualization and corporate governance of stock exchanges
  6. CEO stock options and analysts’ forecast accuracy and bias
  7. An empirical study of genetic programming generated trading rules in computerized stock trading service system
  8. The changing efficiency of African stock markets
  9. Stock exchange as a firm: the emergence of close substitutes for the New York and Tokyo stock exchanges
  10. Competition and the pricing of dealer service in the over-the-counter stock market
  11. Institutional design and liquidity at stock exchanges around the world
  12. Trading on the edge: neural, genetic, and fuzzy systems for chaotic financial markets
  13. Short selling pressure, stock price behavior, and management forecastprecision: Evidence from a natural experiment
  14. Can we forecast the implied volatility surface dynamics of equity options? Predictability and economic value tests
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.