|Name:||Auto Binary Signals|
|Type:||Binary options – trading software|
|Price:||$97 + VAT|
|Recommended?||Serious caution advised|
|How to J||Via website|
Welcome to my Auto Binary Signals review.
I make a point of buying and thoroughly testing each product that I review on this site.
To help arm you with the maximum amount of insight before you part with your cash.
However, as I said in my Review Policy, this sometimes isn’t always practical.
And given what I already know about binary options trading – coupled with the relatively high cost of the Auto Binary Signals service.
I’ve opted to base my review of Roger Pierce’s trading software on external research and my own prior knowledge of binary trading systems.
As such, I’ve not given this product a ‘star rating’.
Because I feel that it would be unfair to judge something that I’ve not actually used first-hand.
Instead, the aim of this review is to provide you with some key points to consider before you risk your money.
I hope you find it useful.
What is Auto Binary Signals (ABS)?
Auto Binary Signals (ABS) is a binary options signal service.
This means that you trade in line with the service’s advice.
Having signed up via ClickBank, you’ll then be able to download the signalling software.
You’ll then have to make a deposit to one of the recommended brokers to begin trading.
Who’s Behind Auto Binary Signals?
The name associated with Auto Binary Signals is Roger Pierce.
‘Roger’ outlines his credentials in the sales page video.
However, the names, images, and even the testimonials found on the sales pages of many digital products are often fake.
So, I can’t say for sure who’s really behind ABS.
What is Binary Options Trading?
Binary options is a legitimate strategy for trading the financial markets.
It’s basically a ‘fix-odds’ proposition.
Where you bet that the price of an asset will either be above or below a certain point after a given timeframe.
Unlike other forms of trading, the magnitude of change is not reflected in your profit or loss.
Instead, both the wager and the potential return are defined beforehand.
This makes binary options an attractive option for novice ‘traders’ because the level of skill required to get started is very low.
However, an exceptional grasp of the markets is required in order to gain a legitimate edge and thus make money long term.
Otherwise, you’re just gambling.
This video explains more about how binary options trading works:
How Much Does Auto Binary Signals Cost?
Auto Binary Signals costs $97 + VAT
You’ll also be required to deposit at least $250 with one of the recommended brokers to begin trading.
Can You Claim a Refund?
ABS is sold via the ClickBank platform.
This means that you can claim your money back anytime within 60-days.
However, any money that you deposit to a broker will not be covered by any form of guarantee.
Is Auto Binary Signals a Scam?
Because on the one hand, I’ve not actually tested the software itself.
So, I can’t verify its quality first-hand.
However, the vast majority of binary options trading systems are usually scams.
Auto Binary Signals – 7 Points to Consider
Here are seven things that you might like to factor in to your decision to buy ABS or not.
1: Binary Options FCA Scam Warning
The FCA (‘Financial Conduct Authority’) has issued multiple warnings in regards to the persistent and incredibly deceptive nature of binary options scams.
- ‘Over £87,000 is lost to binary options scams every day in the UK’;
- ‘Under 25s are six times more likely to trust an investment offer made via social media, compared to those aged 55+’;
- ‘Online overtakes phone as the most common contact method for investment fraudsters’.
2: EU has Banned the Retail Sale of Binary Options
In light of the scam riddled nature of binary options trading.
The European Securities and Markets Authority (ESMA) has banned brokers from allowing the sale of binary options to ‘retail traders’. [Source].
This ban came into effect in July 2018 and is set to run until April 2019 – with repeated extensions more than likely.
This means that if you live in the EU and wish to trade binary options.
You’ll be forced to go through an unregulated or offshore broker.
Which is incredibly risky.
3: ABS Linked to Scam Brokers
My research has revealed that ABS was linked to three brokers that were known for repeatedly scamming their customers:
- XP Markets;
- Trader XP.
This information was circa 2017.
I’m currently unaware of the brokers now associated with ABS.
Meaning that I cannot pass comment on their credibility.
4: ABS Isn’t An Automated System
According to someone who has actually used the ABS system.
The system is NOT automated.
Which means that you’ll have to execute on the signals manually.
Again, having not used the system first hand.
I cannot confirm that ABS still operates this way at present.
5: Biased Affiliate Reviews
I discovered a LOT of overwhelmingly ‘positive’ Auto Binary Signals reviews online.
However, it was clear from reading them that they were published by biased ClickBank affiliates looking to earn a commission.
Evident from the fact that the content was just a rehash of the ABS sales page.
You cannot trust those types of reviews.
6: Poor User Feedback
I managed to find what appear to be three ‘genuine’ ABS user reviews.
One seemed to be positive, whilst the other two said that the system was ‘inaccurate’ and appeared to be running an ‘outdated algorithm’:
Furthermore, the sales page video has been flagged by users on YouTube as ‘…possibly a scam, spam, or commercially deceptive content’:
7: Trading System Broker Scams
The most malicious ‘broker scam’ is that of using ‘trading systems’ as a way to trick people into depositing to a fake broker.
Where you’re actually just sending money directly to the scammers themselves.
This technique is currently being used by Bitcoin Revolution and its clone scams.
My research suggests that Auto Binary Signals does NOT follow the template of such a scam at present.
A more subtle variation is the ‘affiliate scam’.
Where the creator of the trading ‘system’ is affiliated with the broker.
Which means that the owner of the system would take a percentage cut of the money that you lose to the broker.
This ‘revenue share’ model means that it wouldn’t make sense for the trading software to be profitable.
I have no evidence to suggest that ABS operates in this way.
But I feel that it’s important that you are aware that such affiliate scams do exist.
Conclusion: Serious Caution Advised
As I said.
I’ve refrained from passing absolute judgement on the Auto Binary Signals system.
Simply because I’ve not used the software for myself.
However, the warnings from the FCA and the previous links between ABS and several brokers that were outed as being fradulent gives me great cause for concern.
Furthermore, the ABS sales page claims that it can win up to 100% of trades.
To the best of my knowledge, no financial trading system, signal service, bot, or EA (‘Expert Advisor’) on the planet is capable of winning every single trade that it issues.
And finally, the ABS pitch page uses sales tactics that are congruent with that of a classic get-rich-quick scam.
Such as that of using ‘false scarcity’ to panic you into buying the product.
In light of such points.
Whilst I cannot say for sure that Auto Binary Signals is a scam.
I strongly suggest that you proceed with extreme caution.
- No clear benefits found.
- Associated with scam brokers;
- Binary options trading now banned in the EU;
- Poor user reviews;
- System apparently not automated.
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