Price: Free ($500 deposit required)
Rating: (zero stars)
How would you like to earn a thousand dollars a day? How would you like to earn that money without doing any work? That’s what Troy Everett is promising if you use his Binabot software. That sounds great, so how much will this $1000 per day software cost? He says it’s free!
That’s certainly impressive, though I’m a bit suspicious. If some software will allow you to earn $1000 per day, then why is it free? There must be a catch, right? It sounded interesting, so I thought I’d take a closer look and see what Binabot is all about. Is Binabot a scam?
Read on for the full Binabot review.
When you visit the Binabot homepage, you’ll see a short video featuring a balding, middle aged man who identifies himself as Troy Everett. He says he has 15 years of experience in the online trading business and that he developed some amazing software for a former employer, but they did him wrong in some way, so he decided to market the software himself. He also added that he’s giving it away.
In the video, he talks about how it works, and he says it uses “Android technology that legally reaches hundreds of thousands of individual smart phones and selectively pulls off a critical mass of data.” The software then explores the “sentiment” of the market by using advanced social media tools.
Honestly, none of it really makes any sense. What do smart phones have to do with trading anything? And how do you make that $1000 per day with this free software? According to Troy, the Binabot software makes binary options trades automatically, and it’s accurate some 92% of the time. All you do, apparently, is sit back and count money.
To get started with Binabot, you have to sign up and give them your name, an email address and a phone number. Then you get access to the software…sort of. Before you can use the software, you’ll have to make a deposit of at least $500 with a binary options broker. You can’t use any existing account, or the broker of your choice. You must use the broker that Binabot recommends, which is a company called CT Option. When you log in at the Binabot Website, you’ll immediately be prompted to make a deposit via credit card, and once you do that, the software will start “trading” right away.
Of course, you don’t know how to do that, but you’ll receive an email message from CT Option that has a link to a tutorial. I checked that out, and the tutorial was little more than a FAQ page for binary options trading, with no mention whatsoever about Troy’s amazing software.
So, what’s really going on with Binabot? How do you make that money?
You don’t. The software doesn’t work, and it probably doesn’t even exist. The only thing that “Troy,” if that’s his real name, is interested in is getting you to fork over that $500 to CT Option, and he’s trying to do that by promising you “free” software that probably doesn’t even exist.
What’s this all about? CT Option is a binary options broker, and they make their money by helping people make complex trades online. The binary options business is quite competitive, and brokers are willing to pay a lot of money affiliates who can send them new clients. In fact, they’ll pay up to $1000 for every new client affiliates send their way who make a deposit.
The promise of getting $1000 for every lead they send to a broker is pretty tempting, so lots of people such as “Troy Everett” have built Websites that promise free software that makes thousands of dollars per day on autopilot, all so they can send people like you to CT Option to make deposits. I’ve seen this before; I recently reviewed a similar binary options product called Brooks Blueprint that promised mansions and sports cars with their free software. When you signed up, you found yourself at the CT Option Website.
If the Binabot software doesn’t work, isn’t “Troy” lying to us? Of course, but “Troy” is likely just a paid actor. I don’t know who actually owns the Binabot Website, because the site is privately registered. What about CT Option? Their site says they are based in the UK, but if you read the fine print on their contact page, even that isn’t true. It turns out that they are actually based in a tiny Caribbean nation called St. Vincent and the Grenadines.
What does all of this mean? It means that if you sign up with Binabot and make a deposit of at least $500, you’ll be saying goodbye to $500 of your money. You can try to track down the CT Option people, but as they’re way out in the Caribbean somewhere, you’ll likely be spending a lot of money trying to track them down.
It’s hard making money with binary options and there isn’t any software on the market that can automate the trades to the point where you can make money. The entire Binabot site is simply about a guy trying to persuade you to give someone at least $500 so he can make money in commission when you do so.
By the way – if you provide a phone number when you sign up for Binabot, you’ll be hounded mercilessly by the broker to make more deposits. The more money you spend, the more money that they make, and if you haven’t made any money, they’ll just tell you that you need to spend more money to make it all work.
Pros and Cons of Binabot
- Promised software doesn’t work and may not exist
- Spokesperson is an actor
- You’ll be hounded by phone until you run out of money or patience
Every time I review sites like Binabot, I think that I should stop reviewing them. Everyone should recognize that they don’t work and that the promised profits aren’t coming. But I keep reviewing them because the videos they produce are pretty entertaining, and the promises they make in these videos become more outlandish every time I see one.
If you’re interested in making money online, there are better ways to do it than with Binabot, which isn’t going to work at all. Don’t spend your money there.
Binabot is not recommended. Not at all.
Rating: (zero stars)