Simple Profits is a SCAM!
Please read our review on Simple Profits before investing into this binary options auto trading system!
What is Simple Profits based on their presentation?
Simple Profits is a binary options auto trader software that executes binary options trades on behalf of the users. The software was officially released on 11th January 2016 and it prides itself for its high frequency and special algorithm that helps traders to avoid losing money during bad trades. During the presentation, you may find out that Simple Profits makes an average of 2 trades per min and it’s embedded algorithm is inspired by large hedge funds company strategy where the software will place a trade of the opposite direction just to cover a losing trade. The idea of “hedging” indeed is to manage a traders losses and miraculously, we found a binary options auto trader that has algorithm to do that for you. The auto trading software also claims that it is capable of generating $10,000 per day and during the demonstration, the account grew from $250 to $2760 in 30 minutes. Sounds good? Well, not quite, please proceed to reading our opinion below on Simple Profits Auto Trader.
Suspicious Elements/Aspects of Simple Profits
The whole presentation from Simple Profit employs high pressure sales tactic in order to attract and close the sales quickly. Countdown widget for available slots left for their lucky 250 members and should a visitor access the site, the countdown widget shows that there is only 6 left. The countdown widget will then reduce the numbers from 6 to 1 by the time the visitor has watched the entire presentation. We urge visitor to be not fall for the countdown widget, because Simple Profits would not only want to sell 6 copies of their auto trading software. Additionally, the countdown widget will increase back to 6 when you refresh your browser too. Seems like the available slots left is irrelevant and you should not bother by anything it says.
Simple Profits binary options auto trader demonstrates that it is capable of generating $2760 in 30 minutes from an initial deposit of $250. The demonstration shows that the trader executed his trade based on 50% of his total available funds, well if the trades are indeed that accurate while performing an average of 2 trades per minute, it would definitely be possible. However, we at Binary Options Sentinels recommend not trading over 5% to 10% of your available funds to successfully manage your funds. The interesting part about this demonstration is Simple Profits’ special “no loss” algorithm which is supposedly unique to this binary options auto trader. The presenter mentioned that the software will perform an opposite trade to a losing trade to offset his loss. While large hedge funds do hedge in order to manage their losses, however, hedging for those large international hedge funds is indeed very different, for example relying on other financial instruments or assets to cover the loss. We do not believe that it can be done in binary options especially in the manner that the presenter has shown us, where the so called “Protected Trade” was executed in a 1 minute expiry binary options trade. We are not able to tell what trade was taken in order to “Protect” the lost trade and in order to place a trade in the opposite direction in a 1 minute expiry would be too volatile to be taken. Hence, we hope that traders do not fall for this “unique” selling point of this auto trader and do not fall for this binary options scam!
Another factor that the traders should be cautious about is the claim that Simple Profits auto trader executes an average of 2 trades per minute, and total of 15,000 trades per week. The presenter suggest that due to this high number of trades executed, there is a lot of potential winnings as well. Please do not take that phrase seriously, as there is also an equal potential of losses too with that high number of trades. Most reliable binary options auto trading software that Binary Options Sentinel review executes about 10 – 20 trades a day. Which is realistic in trading due to the volatility of short term expiry time, it is difficult to execute trades every single minute even if it is across many different assests! That would be a recipe for your bank account to vanish!
The news article attached to the website is also found to be fake, we are unable to search for BBC News article that was written by Matt Precey this month that has that exact tittle. The man’s picture in the news article is also found to be circulating in the net as a rich man in twitter as well! Simple Profits also does not have any testimonial available for the mysterious 200 members that were already millionaires to back up their claims!
Conclusion: Simple Profits is a SCAM!
We conclude that Simple Profits auto trading software to be a SCAM due to yet another unrealistic profits, very unprofessional high pressure sales tactic employed in countdown widget for available spots (which didn’t matter anyway), unrealistic claims of unique “Protected Trade”, and lack of testimonial. Binary Options Sentinel will not be investing money to test this software, however, should there be any traders that decided to give this a try, please feel free to provide us with your feedback on it’s actual performance! We encourages traders to visit Binary Options Sentinel’s Signal page for a list of reliable and realistic binary options auto trader.
Verdict: Simple Profits is a SCAM! Avoid this
Best Binary Options Signal or Auto Trading System 2016! Safer than Simple Profts!
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We would recommend new traders to check out other information available in Binary Options Sentinel in order to gain additional knowledge on trusted binary options brokers and signal services before investing your money! New traders may also choose to try out the free Demo Account to gain some trading experience. Keep in mind that trading with real money can earn you A LOT of money, but do keep in mind to minimize your potential loss! Please feel free to leave your comments below and share the love throughout the community