The BinaryMatrixPro Signals Full Review
I’m always looking out for new and interesting binary options websites, products and services. To bad this isn’t one of them. BinaryMatrixPro is a new signal service provider offering signals on 60 second options and other short term trades. The system is basically free to use, only costing a single penny per signal, and comes with a verified seal of approval. Just exactly what it is they are approving is yet to be answered. One of the most important reasons to trust this SSP is that the trading account is verified by BinaryVerify.com, an independent third party company whose mission is to verify the existence of trading accounts for ssp’s and other service providers. The thing is, there is absolutely no info on BinaryVerify.com and if you ask me, their website is kinda fishy, I wouldn’t be surprised if it was set up by the Matrix people as a front. I’ve seen it before.
Screenshot taken from binarymatrixpro.com website
Just What Is The BinaryMatrixPro?
The BinaryMatrixPro is a marketing scheme. They sure don’t tell you very much about the signal service, how the signals are generated, who the software designers are or anything else about them. They tell you lots about how they make at least 8 wins of every 10 trades, impressive. They tell you how you can average at least $106 per day trading only $5 at a time. They also want you to know that you won’t have losing days, some will be higher and some will be lower but all will be winners because you will average an 80% winning percentage. What I want you to know is that all their claims are BS in my book.
The service is available for download to your desktop, there is a web based version and a mobile version for Android. They focus on 60 second trading but you can also use the system to generate signals for 5, 15, 30 and 60 minute trading. On a daily basis the service will generate up to 750 signals, seriously, 750. In order to “guarantee” that you will have the same results you will only need to trade 40-45 signals per day, about an hour of trading.
Cost Of BinaryMatrixPro
Whenever I start reviewing one of these SSP’s I always expect to find that it is a front for an affiliate marketing scheme. The SSP’s give away their services for free or for small paltry sums in order to get your attention. Then they turn around and make money by forcing you to fund an account in exchange for the service. I expected the same here and was not surprised, more on that in a minute. On the surface the service is free. They provide you with a $300 credit and then charge you $0.01 per signal you receive. At 40 signals per day, 5 days per week that equals more than a year of trading. Enough time to make enough to retire, right? After the initial credit runs out you can purchase more signals in lots of $5 and $10 as needed. Of course Raul, that’s the guys name, points out that you will make more than enough to pay for more signals. This seems pretty reasonable on it’s own. The scam is when you enter your name and email to register for your “free” trial you find out that it is MANDATORY to open and fund an account with a recommended broker, scam scam scam! This means you can’t get your free trial without making a deposit and providing the BinaryMatrixPro with some affiliate profits.
Performance Of The BinaryMatrixPro
I can’t really comment on the performance of the system, I don’t want to open another account just to find out what I already know. 60 second trading is a scam, you shouldn’t do it because you will lose money. No system, especially one in which you will be responsible for entering trades, can guarantee results in that time frame. Not to mention the fact that you aren’t even supposed to take all the signals. The only way, and I mean the only way, to ensure that you get the same results as they do is to take EVERY signal. If you only take a few, or only trade for an hour, there is no guarantee that you won’t get all the losing trades.
Is BinaryMatrixPro A Scam?
I have to say yes to this question. The programmers, designers and marketers may believe in their product (which is another issue in itself) but the fact remains; They are using misleading marketing tactics to bait you into registering, then switch the terms to make you open and fund an account. If it’s not a scam then they need to tell you that up front. All they need to do is say “hey! We have a great ssp, you can have it for free if you sign up with one of our affiliates.” Instead they choose to use underhanded methodology.
The BinaryMatrixPro is just another in a long line of BS 60 second signal software whose only purpose is to get you to open an account. The credit they give you for buying your signals is crap, it’s just to get you in the door so they can drop the affiliate bomb shell on you. I wouldn’t bother with this one if I were you.