Every month we hear about a new algorithmic trading software for binary options, and this month they have named the product, Prove My Profits.
What you may not know is, the software Prove My Profits was called Polygraph Millionaire last month, and before that it was called Lie Detector Millionaire. It is basically a poor excuse for some kind of blackbox trading software, but in reality their claims are way to large to actually be believed.
Scam Alert: You won’t make any money with the Prove My Profits software, and if you do, your “broker” will cancel your account because it is against their terms and conditions.
The Prove My Profits Scam
We know that the video sounds great, and we would also like to make $200,000 dollars a week, but that will never happen in real world binary options trading.
What the Prove My Profits did was choose to work with these offshore, unlicensed, scam brokers who get you by banning automated trading systems in their terms and conditions pages. Which means that even if the robot software gets lucky and makes money, you cannot withdraw that money and you lose!
You should really read in the binary options forum what other people are going through trying to get their money back from online fraud brokers.
Prove My Profits Software
Do you know any real people using the Prove My Profits software that made money and withdrew their profits?
You can’t believe what they write on their website!
“Current users are making between $50,000 and $200,000 per week, if we break that down to a daily amount that’s around $7000 – $28,000 per day. The more you deposit and start with, the bigger profits you will make!”
STOP! Before you lose your money at a bad binary options auto trading robot, you should first see how the system works and where the risk management tools are.
A trader recently emailed us saying he lose 90% using a trading software that promised 100% positive results with a guarantee. But he couldn’t find anyone who would give him back him money because it was a fake guarantee and a fake broker with a fake software.
Honest Binary Options Brokers
There are only 20 real binary options brokers that are legal, licensed and regulated in countries like Australia, United States, Singapore, Cyprus and South Africa.
- Traders in American trade at the CFTC licensed exchange Nadex.com
- Traders in Europe use: 24Option.com
- Traders in South Africa use ETXCapital.com
- Traders in Australia use HighLow.net
The majority of binary options brokers you see online do not have a license, and at the end the day, they are fraudulent brokers. You can see here an updated list of most popular licensed brokers.
Most Popular Trading Software
The real binary options trading robots have many features that you can customize, including you select a licensed broker, daily take profits, and daily stop loss, asset and strategy selection, risk management and other controls.
More than 100 fake trading systems exist online for binary options trading, but any smart investors will almost always end up using one of these popular robots.