This is my honest Binary Strategy Review. In this video I explain that I purchased Binary Startegy over 2 years ago and what I and dislike about this product.
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Here is the transcript of this video. If you have any questions or comments please post them at the bottom of the page.
Hello it’s Jonathan here, back with another episode of Trade Wise. And in this video, I’m going to be talking about a piece of software called Binary Strategy, which I’ve owned for a couple of years now. And that I really wanted to make this video to give you some honest feedback on whether or not it works, whether it’s got the success rate that it claims to have. Now there is quite a lot of misinformation out there about this product, so I’m just going to give you my honest opinions. And then hopefully by the end of this video, you can make your own mind up whether you think it’s the right sort of products for you.
If you enjoyed this video, then please give me a thumbs up. And also subscribe to my channel, because I’m often making similar videos to this type of review. And also if you go to my website, you can download the the top three products and services which I’m currently using myself within my own trading. I personally like to trade pretty much on autopilot, and so I’ve got products and services that can help you either just run an account completely on autopilot and make between 10% and 20% per month, but I’ve also got some kind of good signal services as well, for those that are happy with a little bit of involvement, but don’t spend hours and hours looking at the charts. So that’s what this is all about with Trade Wise, and now let’s talk in a bit more detail about Binary Strategy.
What is Binary Strategy and Binary Options?
All right, so here we are. I’m on the Binary Strategy website, which is binarystrategy.org. So if you’re not familiar with binary options, it’s kind of like a form of betting on the markets, you’re not actually buying anything, any real equity. You don’t own anything, you’re sort of playing against your broker. To say that over a given time frame, the price of whatever currency pair or commodity that you’re looking at, whether or not it will be higher or lower, over a fixed period of time. So basically, what Binary Strategy tries to do is it will chart certain Forex pairs over a certain time frame, so its uses the 15-minute time frame. And what it’ll do is it will indicate to you, not all the time, but when it sees a strong signal, it will indicate to you whether it thinks the price will be higher or lower at the end of that 15 minutes. And as long as that candlestick finishes in the same direction as the signal, then you will win the trade. But if it’s gone the opposite direction, then you will lose the trade. So that’s binary options, just in a very brief description.
How Does Binary Strategy Make Money?
Now, you’re probably already familiar with binary options if you’re looking at Binary Strategy. But the most important thing to know about binary options in general, just putting aside Binary Strategy for one moment, is that binary options are incredibly high risk ways of investing, you can lose a lot of money quickly. But mainly the biggest problem that’s had over the years is that the brokers, and there’s so many scam brokers out there, that the whole thing is a little bit sort of seedy and scammy. So it’s not like the sort of Forex market, and definitely nothing like the stock market where you can buy a stock at a certain price and then hold it and set your sell rate, and so on. With binary options, you’re pretty much at the mercy of your broker. So if you don’t have a good broker, even with a winning strategy, you can still lose money. Because the broker can manipulate the price, and so on. And that happens all the time. So even with a winning strategy, you can still lose money with binary options. Because you’re essentially betting against the broker, and the broker has invested interest in you losing, that’s how they make their money. So binary options is a very difficult way of making money in the first place.
Is Binary Strategy Profitable?
Binary Strategy as a product, I would say just as an overall view, it does have a winning rate. But personally I found that firstly, there’s a lot of misinformation out there about this product. And secondly, I don’t think the win rate is high enough for it to be a long-term profitable service that I want to be using it for my own trading.
How does Binary Strategy Work?
And so let’s just explore this in a bit more detail. So this is kind of how the signals will look here, you can see just an example. It uses MT4, and it will ping you when a signal is generated. so I had it running in the background, while I was getting on with just my day-to-day work. And I’d jump over to it when it pinged the signal, and then I’d quickly just jump into my broker and place the trade in the direction it was suggesting. It is fairly straightforward, and it is something that you can run in the background. You don’t need to be really keeping an eye on it, because it will notify you whenever there’s a signal, so you don’t need to just sit and stare at it, so that is quite good.
Valor And Spirit Strategy
And there are two different strategies that you can choose from. Valor is a more conservative approach, which only has a small number of signals. Spirit is a lot more active and less accurate, I’ll say overall, but you will get a lot more signal. So if you want to be active with your trading, then Spirit is a good way to do that. So you do get two options with it, and overall the bot does work quite well in terms of it’s quite easy to set up, and you will start getting signals straight away.
Issues With Binary Strategy
Where I have issues, So this is the first bit, Verified Results. Well, I mean, it doesn’t actually show anywhere that they’re actually verified, just on their own website. So this for me, these results aren’t verified to me in any way. I mean, they could just be anything. So here we’ve got an indication of the winning trades and losing trades of different currency pairs, a screenshot. Now, you will see this when you set up your software, as well. But here’s the first thing you need to be very aware of, is that I saw multiple instances, when I was running the software, of signals repainting. So some of them will disappear after losing, the actual arrow will disappear. Others will appear where you didn’t get a signal, if you wanted to show a winning trade. So I just don’t take this to be accurate that it’s nowhere near 83% success rate when I was using it. And as I say, it seems as though the software kind of creates this in the way that it wants to, to make the numbers look reassuring. When I was actually trading it was nowhere near as successful as this. And here, I was having losing trades using the software, where here it kind of looks like you’re winning back-to-back trades all the time, I wasn’t getting anywhere near this success rate. So you do need to take all this with a massive pinch of salt.
In terms of the accuracy of the bots, as I say, it will have a winning rate, overall. I think over time, I came out with about a 55% to 60% win rate. Now that does sound pretty good and with binary options, because it’s binary. If you’re in a winning state where you’re at least 50% winning, then you would think that would be enough for you to be profitable, right? Because you’re getting back your returns on your wins and only losing on a smaller amount of losses. But you need to bear in mind with binary options, that you’re always going to get back less on a winning trade than you lose on a losing trade. So when you lose a trade, you lose 100% of your money. Now depending on your broker, When you win a trade, you’ll win anywhere between about 80% to 90% return on a winning trade.
So let’s just take that at the lower end. Let’s just say you make 80% return on your winning trades, but you lose a 100% on your losing trades. So that actually means that you’ve got to have quite a high success rate in order to be profitable, I think even just to break-even with binary options, again it does depend on your broker ,but you’ve got to have at least a 60% win rate in order just to break even to cover the fact that you’re not making 100% gains when you win. So that is a problem with a binary option strategy, you need it to be at least 70% profitable. Because bear in mind, that your brokers; if it’s a close call, the brokers just gonna actually just say it’s a losing trade in many cases, if there’s only like a very small margin in it. So there’s all kinds of things, all kinds of reasons why you need a very successful Binary Strategy in order to make long-term profits.
So as I say, I will take these with a pinch of salt, I’m not saying it’s a complete scam and it’s not profitable at all. I’m just saying that certainly my wins, my returns were way lower than what’s reflected here, and I definitely saw the software repainting some arrows and showing different results when I was trading it. So do be very careful. Back testing and projections are always very difficult to verify, There is no verification of them anyway. So do take that into account.
The Members Area
I’ll just show you the members area, I am a member. As I said, I bought this over two years ago, so I’ve owned it for quite a long time. The members area is quite good in so much, that you’ll have videos on how to set up the software and things. You will get up and running with it pretty quickly and easily. It’s not that difficult to set up, as long as you’re relatively familiar with MT4. But there is over-the-shoulder videos, as well.
Genuineness of The Reviews
So you know that that is a positive for sure. And another negative thing about this, I’m very skeptical about a lot of the reviews that are out there, and what I want to do with this review is just to bring some balance to it, so that you can at least make an informed decision. And if you go to Forex Robot Nation, now they give Binary Strategy a glowing review, but this company actually owns all these products here on the right. So what Forex Robot Nation is about is they do lots of reviews, most of which they’ve never even bought the product and they kind of try to switch sell you from other products which might be good. I mean, not a lot of them probably aren’t good, to be fair. Because there’s so much garbage out there in this marketplace, that they’re probably justified in giving some of the products a low review. But the whole the whole idea of Forex Robot nation is to kind of steer you away from other products and towards these three products, which they own. So Binary Strategy is one. And I started to figure this out because I bought Forex fury, which I’ve done a review on, if you want to watch that on my channel. I’ve bought Forex Fury, I own Binary Strategy, as I’m demonstrating in this video as well, Forex Steam is the same, that they’re all from the same company. And so you’re bound to expect that there’s a very good review on this website.
Is Binary Strategy a Scam?
So if this is one of the tools that you’re using to determine whether or not to spend your hard-earned money on Binary Strategy then, I’ll definitely definitely take a step back. And a lot of the other reviews that I’ve seen out there as well, I just don’t really trust them. There’s just a lot of false reviews out there, it is very difficult to find genuine, honest reviews for this particular product. And so the whole point of this video is not to completely pull apart Binary Strategy or trying to say it’s a complete scam. It’s not a scam, it is software that does work. I do believe that there’s misinformation about it, but I’m not trying to just completely tear it down, I’m just trying to bring some balance and give you the other side that you might well not find by searching through sites like Forex Robot Nation.
So this doesn’t make me dubious. And as I say, for me personally, it wasn’t particularly successful. There are things that you need to bear in mind, of course. I’m in the UK and I’m basically was trading during UK office hours, sort between 9:00 AM to 5:00 PM. The difference, even just in your trading session, will bring you different results. You could argue that you might be less aggressive than I was, perhaps. So you could just be going for the more reliable Valor signals, I was kind of trading a little bit of both, Valor and Spirit, and didn’t find either of them to be particularly profitable, but you well might. So as I say, I’m not trying to say to you “don’t buy this product” or “do buy this product”, I’m just trying to give you as many facts about things as I possibly can.
And if you do end up buying this product by the way, then please, by all means below this video, leave some feedback, leave your success stories or all your failures, and I’m always interested to hear how you’ve got on with it. But as I say for me, it’s not one of my top three. But if you do want to know what products and services I am having success with right now, then jump over to my website. There’ll be a link below this video and you can subscribe to my email list, where I basically just keeping in contact and let you know what’s working and what to avoid through the website.
So that’s it for Binary Strategy, I really hope that you found this video to be helpful and I wish you every success with your future trading.If you have found this helpful, please give me a thumbs up and subscribe to my channel for similar videos. And I hope that you’ll jump over to the website and subscribe on there, as well. So that you can be kept up to date with some of the best products that are out there right now. Okay, thank you very much for watching this video. Bye for now.
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I’m Jon, owner of Trade Wise at https://tradewise.community/ and https://www.youtube.com/channel/UC7VmOx8DbvX4Rbrac2pPcjw
I review forex and crypto trading products and services to find the best of what’s out there for creating a passive income without becoming a full-time trader.