The year 2015 will be remembered as the year so many new binary options software went live. They came thick and fast and if it is an indication of what the future of the binary options will be, the industry is in for a rollercoaster. One of the entrants to the marketplace is the Millionaire Bot which went live in February 2015.
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When the prizes for hype and pressure and tricky marketing are announced, Millionaire Bot will be right there with the best of them. This is because these are the tactics they have perfected to lure traders into their system.
The Millionaire Bot is a binary options robot that started trading in early 2015. Their claim to fame is their assertion that they can help traders make in excess of $13,000 every single trading day. Isn’t that magical? Just do the math and it will just hit you that you will be a millionaire in exactly 11 weeks! That is phenomenon. Just how will the system help you make these thousands of dollars each day?
One thing is clear here, you just have to sign in. on opening he page, you are confronted by a banner, ‘You just missed’ and followed by a list of people who have just made thousands of dollars while you are hovering over the page. This is intended to make you feel inadequately prepared for your financial freedom. What better way that to sign up and be like those traders already making so much?
The sales video
The 17 minute sales video is mastery on incredulity. The hype here is sky high. The first thing you will see are bank balances with a healthy amount in credit. How authentic these are is not hard to tell. This is because the figures just don’t add up.
After this, the ubiquitous testimonials come in, one after the other, 7 of them. A close look at them brings up the question, “Haven’t I seen these characters before?” You probably have in other binary options systems making the same pitch but in different words and locations. You will also find them on Fiverr advertising their services as freelancers who will give a great testimonial for $5. These are the people hired here to give the glowing testimonials for Millionaire Bot. If the system is so great, why didn’t they ask some of the genuine traders to make the testimonials?
These testimonials herald more hype on the worthiness Millionaire Bot. you will hear how you are missing out on a chance to be part of the awesome team that makes a minimum of thirteen grand a month. The interesting bit about this video is that you will wait for the pat where they explain how this money is made in vain. This is so because there is no such section. You will only be asked to sign in time and again and now you are on to missing what could have been your ticket to absolute financial freedom. To bolster his case, the narrator will remind you that others are already making good money here and you are not.
What should you expect from Millionaire Bot system?
Great ROI: From a simple deposit of anything more than $250 Dollars, you will be making $13,425 every trading day after a short while. This is an admirable figure. The problem is that Millionaire Bot will have a hard time proving that this kind on profits can be made that fast form such a low deposit.
Fully automated: Being a binary options robot, Millionaire Bot requires very little of you in terms of effort and time. All the generation of the signals, the selecting of the expiry periods and the execution of the actual trades is all done for you by the system. The implication is that once your deposit is made, and you have made a few settings changes to reflect your preferences, your account is ready to trade and your input is not required anymore.
Web-based: Millionaire Bot is not downloadable. It is fully web-based. You will only require a modern day gadget and an internet signal to access your account and monitor how the profit will be flowing in. Millionaire Bot does not require you to sit at your PC all day and night. You can access your account at anytime and anywhere.
Low initial deposit: With $250 only, you have access to all the services of the millionaire Bot system. Everybody who would like to trade with binary options and can afford $250 is eligible to open a trading account. This low figure means that almost everybody is eligible.
Easy account opening: Opening a trading account here is easy as pie. Just fill in your email address and you will be ushered in to the next page where you open an account that the system will supply. When you make your deposit, you are good to go.
The system is free: The Millionaire Bot system is completely free of charge. You will not be required to pay anything to access the system. The only money that you will be asked for is the deposit which is essentially your money with which you will make your trades on. For any system updates and upgrades, you will not be asked for fees for as long as you are trading on Millionaire Bot.
Client Access: This system assures traders that they will not be stuck with problems with no help in sight like it happens on some binary options systems. With the options of live chat, telephone and email, you will be well covered by helpful client support personnel all round the clock.
Should you open an account with Millionaire Bot?
Not so fast. You will need to consider the following factors before you do so.
Making an excess of $13,000 a day is not impossibility in binary options. The problem is that the way Millionaire Bot promotes their system. There is nothing to show how this will be made. It would be wrong for a trader to just sign up without knowing what needs to be done to make this kind of money. With very good accuracy levels and trading in excess of $40,000 is probably what will give you $13,000 in a day of binary options trading. This claim is a major red flag because it simply cannot be possible.
There is a lot of high pressure promotion and deceptiveness on the part of Millionaire Bot. When you have the banners telling you that you have already missed on some good trades, and constant reminders that the remaining slots to fill the required limit of traders are running out, all they want you to do is to open an account and make a deposit as soon as is possible.
Millionaire Bot does not allow you to import your broker when you open a trading account with them. They do not even have a list of reputable brokers that you can choose from. All you will find is a broker whose record is unknown. Why does a system insist that you have to use their broker or not at all? Sometimes the trading system and the broker are one and this is not promoted.
The fact that the emphasis here is to have as many traders as possible opening accounts and the lack of an explanation as to how these big profits will be made has made the whole outfit look very suspicious. The indications are that this is not really a trading system. It is more like a marketing company of a broker, or an affiliate who has created his own software that looks like a legit system.
Good binary options software does not need to hire $5 actors to give testimonials. All those people featured in the sales video seem like actors. Most of them, especially the couples are actors on the freelancers’ site Fiverr. The stories that they give too just don’t add up. If Millionaire Bot had posted some organic testimonials from real traders, they could be at least one degree believable.
Traders are advised to keep their distance from this system Millionaire Bot is simply not believable. As yet, there are no credible and independent traders who can testify as to the efficacy of this system. Also, the use of actors unashamedly to give scripted testimonials is taking the matter of deceptive advertising to its lowest point ever.
As a trader, you need a system that is based on solid ground. A system that has the experience, and the capacity to deliver on its promises. This will be the binary option robot. It is based on the best trading practices in binary options and all the promises and claims made by this program are achievable as witnessed by the thousands of trader who are making their handsome profits every day on the platform. With the engagement of only the trusted and reputable brokers in the binary options marketplace, you have a friend and partner in Binary Options Robot.
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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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