Is Binary Boom a Scam? – The White Stick Scam, watch out!
Name: Binary Boom
Price: $250 min deposit
Owner: Dennis Anker
Income Opportunity rating: 1 / 5 Stars
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Unfortunately, the binary trading industry is tormented by scams, and it can be easy to assume that all binary trading programs are scams too.
The truth is that there are some decent binary trading opportunities, but none of the good opportunities will shove hype into your face and try to make you believe that you’ll be a millionaire in a couple of days.
That’s one of the easiest ways to spot a scam; does it promise unrealistic income? Why would someone give away that information for free? Why aren’t there more millionaires using this system? If you can’t answer these questions, then the program that you’re looking into is a scam.
With that in mind, let’s take a look at Binary Boom and let’s see if, based on what I mentioned above, it’s a scam.
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What is Binary Boom?
In the Sales video of Binary Boom, Dennis Anker shares with you that the key to becoming a Millionaire through Binary option trading is the “White Stick” that he is holding on his hand.
I was giggling inside and was about to burst out into laugher after hearing that.
That “White Stick” Dennis Anker was referring to is supposedly a tool for you to spot a trend on the Binary trading charts, and he claims that at a certain point of a day the Binary charts will go in one direction for 15 minutes.
Look, I was a trader for a few years before I turn to an Affiliate Marketer, I wasn’t a successful trader, but I know one thing, no one in this world can predict the movement of the market. Not even Warren Buffett.
There are so many factors that can affect the price movements of a trading chart, and on what grounds can Dennis Anker claim that for 15 minutes the trading chart will move in one direction. If you trust his words, I’ll say good luck to your hard earned money.
Also, I’m sure you may have been sold after hearing so many video reviews on the product right?
But, the fact is, in this day and age, video testimonials are so easy to get at a cheap price. Just go to Fiverr.com and you will see tonnes of people providing Video Testimonials for as low as $5. I am sure you will see some familiar faces from Binary Boom.
Binary Boom is a software that promises to make it possible for you to earn thousands of dollars a day on auto-pilot if you just download its software.
This, of course, is not true, and it’s simply a hook to make people create an account with a trading broker and deposit the minimum amount required to activate your account ($250).
The first thing you have to do is to download the Binary Boom program and install it on your computer, and then it will direct you to their recommended broker where you will deposit the minimum sum to trade.
Of course, members are told that this investment is worth the risk because you’ll make it all back in a couple of days, in fact, they want you to believe that you’ll be a millionaire within the month. These are just unrealistic claims to manipulate you into using their software. Let’s assume that you complete all the steps and access their software.
Here’s a comment I found from someone who signed up…
“Hi, I stupidly signedup, broker Option.FM, £250 min investment. Logged into binboom.net/product.php , also had up the website. Not a single trade in the app matched the website. My account burnt out in 49 minutes, 2 trades won (by sheer Luck!) all rest LOST. Min trade with Option.FM $25, not the $5 trades on his website. Total BS. Avoid. I am doing a chargeback on my credit card to Option.FM for fraud, they told me on the phone what a great decision I had made. Stay Away people.”
That’s just one of the many negative comments and reviews that I’ve found on this product.
The Best Place to Learn How to Trade is Here!
So, when you create an account with their recommended broker and deposit the necessary funds, a representative from the company will call you and pitch you an account upgrade, a pitch that’s full of more hype and false promises.
They’re really after your money! The sales rep will do their best to convince you to upgrade and they’ll reassure you that you’ll earn even more money in the future.
See, the people behind this product want to convince you that their robot algorithm that is used to detect trades that have a high chance of winning was designed by top traders and experts.
It’s supposed to be an exclusive and unique code that can somehow predict the future. Like most scams, this is completely false, even expert traders claim that it’s impossible to predict if a trade will be a success or not, the market changes too fast.
Therefore, it’s literally impossible to do what this product claims it can do. If this product can achieve the impossible than why is it free? Well, as you probably already noticed, it’s not free; it’s merely advertised as free, another red flag!
This product wants you to believe that it can predict the future, that somehow their algorithm can collect data from the future via some quantum time travel machine. That’s stuff of science fiction.
What I Liked:
I like how people are catching onto these scams and now these scam artists can’t use mail management providers like AWEBER or Get Response. If a scam artist is using one of these services or another similar service you can report them and that should make a dent in their schemes.
What I Didn’t Like:
I didn’t like the entire product.
The sales page is full of completely unrealistic income claims, and it’s almost exactly the same as some of the other binary trading scams that we reviewed on this website.
You can spot a binary trading scam from a mile away! They all share the same red-flags!
The most common red-flag is the crazy income claims. I’m sure it’s possible to make good money trading online, but it is hard if you want to become a millionaire, especially on auto-pilot. These programs are designed for people who want fast results, who need fast results, but, of course, the program fails to deliver.
If you’re interested in binary trading or other types of trading then you might want to check out a company called Etoro, it’s the biggest and most reputable company in the niche, and their support is fantastic.
Of course, in order to make a profit you’ll need an initial investment to work with, and most people don’t have that much cash to invest in trading experiments.
There’s another option for people who want to make an online business, it’s a training center called Wealthy Affiliate, I happen to be a member, and it’s the best online business training center I found.
You can try it for free! Please check it out! It will really help your business!
I welcome you to share your experience on Binary Boom or other auto-trading platforms by leaving a comment below. If you find this article helpful, please help to share it with you friends and family by clicking on the social media buttons below.