Traders Matrix Scam Review
It wouldn’t be a productive day for me if I didn’t get to expose another binary options scam. And today we have a doozy. Traders Matrix claims to be unstoppable and the safety automatic trading software system to date. Is this true or just a bunch of bull? Grab a cup of joe or tea and read my Trader Matrix scam review.
Traders Matrix Intro Video
The introductory video for Traders Matrix was quite a disappointment, I must say. I was not impressed in the least. Some very cheesy music and a slide show. Not even a voice over. I had to put the ridiculous music on mute so I could pay attention to the video presentation. It just gave some facts as to what Traders Matrix offers. Basically, the same as any other demo video for automated binary options trading, How to set up an account, blah blah blah. The creators of Traders Matrix claim that they have the best brokers in the business. As well, they claim to have a 98-100% accuracy rate. Apparently, their system generates three different trades and you chose the most profitable, or the one with the higher predicted outcome. Or you can set it to autopilot and let it trade for you.
I can’t stress this enough. There does not exist a trading platform or software application that can boast of a 100% winning ratio. Even the most reputable trading software systems only have a winning of 87% at best. Yes, there are days when you might do extremely well, as the market is truly unpredictable. But by the same token, as the market fluctuates on an hourly, if not daily basis, you can have bad days as well. Some days you will be lucky to break even. It takes skill and practice to be able to be successful in binary options trading. Automated trading software does give you a leg up. However, it is important to find a system that is honest and reliable.
So if you are ever given an indication that a system will guarantee you a winning rate higher than 90%, you can pretty much bet that you are about to be conned. This is one of the many red flags of a scam. And sadly, in binary options trading, there tend to be 10 scams for every one reliable trading system. Luckily, I am in your corner and I promise that I will not steer you in the wrong direction. I will point out the scum and give props where they are due. I only recommend trading software that has been proven to be tried and true. You can trust my years of experience trading binary options. I, too, was once a noise trader and had no idea what to expect. But with time and patience, I was soon able to smell a scam straight away.
Another glitch is that Traders Matrix claims that they are offering a free 3-month trial. After this time, they will take 20% of your profits. They do not indicate whether this is done on a daily, weekly or monthly basis. And 20% is quite a steep fee. There are plenty of cheaper and even free, automated trading systems available to those who are serious about profiting from binary options trading.
And of course, we all know by now that no system is ever completely free. You will be required to make a deposit in order to gain full access to the software. Sure, you might get to use the demo software for free, but before you can perform live trading you are always required to make a minimum deposit of at least $250 (which is the norm). No system will ever be free. You have to spend money to make money. There is no way you can profit in trading without investing your own money upfront. Never trust anyone who tells you otherwise.
Traders Matrix Website
The website for Traders Matrix is pretty basic. Nice large font. The video is front and centre. However, they fail to provide necessary details such as how the system operates. Not that we need to know the exact details as to how a trading system comes up with its trading algorithms, but we need to have some insight as to how the software gathers its information or makes its predictions. Sure, we don’t need a dramatic song and dance presentation, like some previous scam video we have seen, but you should always have some insight as to how as system functions before investing your money.
Not only do they not give us the slightest inkling as to how the software functions but they fail to provide us with pertinent details such as company address, insight as to who actually created the system and most importantly their CySEC licensing info, Never, I repeat, never invest with a system that is not regulated by CySEC. There are far too many gray areas in the word of binary options trading and it does not bode well if a system is not regulated. This means your investment is not guaranteed as their brokers are not regulated as well. Avoid such systems at all costs.
As well, they not provide a link to customer support. Which to me is always a bad sign. If a company is legit, they will provide a live chat feature or at least the ability to contact their customer support via phone or email.
My Conclusion: Traders Matrix is a Fraud
As I could find no relevant info online about Traders Matrix to prove that they are in fact a legitimate company, I can honestly say that this trading software is a total scam. There are far more reliable trading systems available online. The lack of proof of actually winning profits plus notable lack of relevant details such as company address, customer service info and licensing information tells me straight off that Traders Matrix is nothing but a fake. Do yourself a favour and trade with one of the systems I have deemed to be reliable.
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- Rated 1 stars
- Really Bad
- Traders Matrix Traders
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