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!
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:
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
- 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.
- 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.
I 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.