Is Binary Boom a Scam? Boom and you’re rich?

Is Binary Boom a Scam?

Boom! And your’e rich.

The sales pitch starts off with a stick. Yes very random. Why? What’s this all about? And is Binary Boom a scam? I guess you are wondering the same thing. I don’t want to beat around the bush on this one so I’ll answer the question upfront. YES it is. stay away.

And here’s why!

 

Summary

Product Name: Binary Boom

Website url: http://www.binaryboom.com/lp.php

Cost: Free. No charge, Nothing Really?

My Rating: 0 out of 5

My Recommendation: Binary Boom will not magically make you money by doing very little. This concept is a lie, it’s not possible. If you want a way to build a reliable long term profitable online business, read my top recommendation.

 

What is Binary Boom about?

Created by Dennis Anker, Binary Boom is a software which you need to install into your computer. Then it works to earn you money through binary options trading. Simple. If you want to know what Binary Options Trading is take a look at this article

So what’s the stick about? It’s a representation of price trends. Hmm.

The sales video is full of coded messages and testimonials which go on for well over half an hour saying about how much money people have earnt. We’ve seen it all before haven’t we. But is this any different?

There are literally hundreds of binary trading software systems out there which make claims about playing the system to make you always win. Take a look at another one, Online Wealth Markets, as just another example of those out there to cheat you out of your money!

 

How does the software work?

Eventually he does go into how the Binary Boom software works in the sales video. That is definitely something useful.

He says there is no credit card or opt in to get started. You simply download it. Dennis says openly that he gets something from this and will tell us how later. He’s all about being transparent. Do you believe that, watching his video?

The software works on two different aspects of binary options trading focussing on stocks, currency, or commodities: Dennis says the key to the success of this program is combining these two aspects to create the perfect software.

Aspect 1: Price fluctuations

Price fluctuations are at the core of how you make money with binary options. At certain times of the day, trends move in same direction every 15 minutes.

The trades are placed on either a call or put in 60 second intervals once these 15 minute trends are spotted. ‘Call’ means that you think the price of the option will go up in the next 6o secons and a ‘put’ means you think it will go down in 60 seconds. What the software does here is spot these trends for you and places ‘bets’ as i like to call them, every 60 seconds in the right direction of course.

Aspect 2: his 1 point rule

This is all about being 1 point ahead of the trade you place. So if, after the 60 seconds, your trade is worth just 1 cent more than it was when you placed the trade (put), then you win the money.

 

If you are new to binary trading and binary options, this sounds amazing, It sounds like he is giving you the secrets to binary trading. but if you are familiar with binary trading then you will know that this not new news. The way the Binary Boom system works is pretty standard to Binary Options trading:

 

Binary Boom Review

 

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How does Binary Boom make money?

Dennis talks about being open, that he does want to get something out of this system. I assumed it was all about making commission off your wins. Oh no.

You have a choice of brokers when you use the software, who make the trades for you. All of these brokers he pre-selects takes a commission when you make a win. For example if you bet $10 an lose by that 1 point, then you lose $10 but if you win that trade you make $8. The other $2 goes to the Broker. This is the example he uses.

Dennis talks about how he chooses his brokers based on those that make money when he wins, and these are ones that don’t care if you win and how much you make when you do. He talks a lot about specific brokers. You might think he is going to talk about how it makes money WITH these brokers.

So what does he get out of Binary Boom? Recognition. That’s all he wants. To be known in the field of binary options.

He certainly is that. He has a seriously bad reputation now for this program. Take a look at some of the complaints.

 

Binary Boom Complaints

  1. I found many reports of people using the Binary Boom software who have lost trade after trade and it has burned up their cash. See below. They are all over the internet. I selected a couple that are truly representative below.
  2. The software contains a trojan spyware programs called virtual network bridge and virtual network bridge update protocol. What these programs do is display pop up ads on your computer and network, or anyone connected with you and makes your computer incredibly slow not to mention incredibly annoying. Anything you do, your computer is plagued by these ads.

What is Binary Boom About

 

Binary Boom Complaints

 

My verdict

PIF Explosion is a no goI think through my Binary Boom Review, it’s pretty clear the answer to my question, is Binary Boom a Scam is YES. I hope I have shown you why.

In general, I do not recommend Binary options trading as a way to make money from home, as it’s essentially gambling. There’s no stability or dependability. Personally, I want to know where my money is coming from.

In reality, all FREE binary options trading software which send you to an offshore broker, who is unregulated, which Binary Boom does, are scams. Beware.

The software is free because the brokers get commissions from the trades you make. And it’s a good commission. Then the brokers set to work, as you lose more money, they try and get you to spend more and more to win back your money. This can be incredibly tempting, they have the sales talk, and you can easily get sucked in.

But guess what, you lose more. But if you DO win, guess what happens to your broker? They can’t be found. You can’t get hold of anyone and your money is lost either way. These brokers are not regulated by US laws so the fact that they are offshore means you have no recompense.

So please don’t go here. Save your money and start a profitable online business where you depend on the income made. If this is more interesting to you, check out my top recommendation to get you there.

 

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10 thoughts on “Is Binary Boom a Scam? Boom and you’re rich?

  1. Steven says:

    I noticed the complaint said that they handed over £250 to these scammers is that how much it costs to get into this programme and receive their software.

    Is there no possibility of making money what so ever and are all the videos you have to endure fake do you think?

    • Ruth says:

      Yes you could make some money, but it’s totally down to luck, not to this secret system that magically can read the markets! That is the problem with Binary options. To me its essentially like gambling!

      Unless you can afford to lose money, I would stay away.

  2. Maria says:

    Hi Ruth,
    Was wondering about this and thank you for being so honest and explaining the way the system works. Sounds like a dud for sure and we’re here to make money, not lose it all to somebody looking to scam us out of it! I really dislike these sort of setups and schemes. Best thing to do online is to set up a site and work on it and tell people about things you know about and earn some money from that – otherwise nearly everything else is either making pennies for billions of hours of work, or taking your money period.
    Thanks and bookmarked your site!
    Best-
    Maria

    • Ruth says:

      Thanks Maria, I agree with you in terms of the outline you give for the best way to earn money online. It takes work and dedication but what real, true business doesn’t?! That’s almost how you know whether it is a scam or not – if they are upfront about the fact that you have to work at it and don’t promise you will make thousands in days, then you are on to something!

  3. Geek Hibrid says:

    I have only just started looking into Binary options as a way to make money online, and came across this software. I must admit it sounded great, so I got a bit excited. But, I am not an idiot, so I did some research and came across your article. Thank Goodness. I can see it for what it is now. Phew! Lucky escape!

    • Ruth says:

      Great! That is why I write these. To stop people falling victim to scams. I am so happy I helped! Good luck with what you do decide to do, and if you want somewhere to start, try my start here page.

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