$650 System makes a single binary options trade each day and claims that by using this approach you can make $650 every two days. It sounds fantastic, but as you can imagine, it isn’t as great as it seems. Specifically, it is an approach that promotes binary options trading, which is concerning right from the start.
The system is actually a little different than most binary options trading scams out there because it isn’t software based. Instead, the system works by sending members emails once a day telling them what specific trade to make.
This is a little bit like receiving tips on horse races. You are told what bet to make and then you have to go away and actually make that bet. It’s a risky approach on the part of the user, because you don’t have any way of knowing how good the tip you get is.
Making a single trade per day is also a very slow approach to earning money and if you want to earn the type of money that the company is claiming then you have to put a lot of risk in that single trade.
With binary options trading you typically earn between 65% and 85% of your trade in profit if you are successful. So, if you were to invest with $100 and won, you would get somewhere between $165 and $185.
The only way to make the $650 that the system claims would be invest the $200 in a single trade the first day and reinvest that plus your winnings the second day – assuming that you win both times.
However, this is a highly risky approach, because you are putting all your eggs in one basket and completely trusting the tip from the company (which may not be any good at all).
Realistically, binary options tends to resemble gambling and even people who know the markets that they are in well find it challenging to make money. This is even more challenging for a beginner who has no experience in the field at all.
$650 System takes the unusual approach of guaranteeing your earnings. This sounds great, but it’s important to understand that this guarantee doesn’t actually mean anything.
Placing a guarantee on a website is a great way to make potential customers feel like they are safe. However, in the online environment, there really is no way of getting the company to live up to the promise that it makes.
This means that if you do lose money by following the approach that $650 System is promoting, there is a good chance that you won’t ever get that money back.
The Actual Cost
The implication with the marketing for $650 System is that you can start making money with as little as $100. However, out of the list of brokers that the site provides, only one (247 Binary) allows you to make trades with $100. All the rest require deposits of between $200 and $250.
In fact, 247 Binary doesn’t actually have a minimum deposit of $100 at all. I took a look at the terms and conditions on the broker site and the minimum deposit is the same for most other binary options brokers.
This means that the idea that you can make money with just $100 is completely incorrect. You would need to make a deposit of at least $200 to even make a single trade.
Regardless of which broker and deposit amount a user goes with, making money with binary options is a lot more complicated than just depositing money, making a trade and then collecting it.
Most binary options brokers make the withdrawal process complex and difficult to do. Often this involves having to make a certain number of trades and having to prove your identity. Additionally, you have to have a certain amount of money in your account to make a withdrawal.
This means that you may end up with money in your trading account (either from winning trades or left from your deposit) with no real way of getting it back.
Despite how good it sounds this system doesn’t really have a way of living up to its claims and allowing you to consistently make money. Because binary options tend to be so unpredictable, it’s likely that most of the tips that $650 System provides won’t actually pan out.
There is always so much hype around the idea of making money without effort, but it simply never pays off in the long-term.
Approaches like $650 System are never really what they claim to be and the fact that you have to put $200 down to see whether the system even works should be a pretty big red flag.
In contrast, approaches like what I teach in my 5 day email course on affiliate marketing can be started with much less financial investment and you actually learn how to make money, rather than relying on some mystical tip. Instead of spending $250 for a mystery product, how about learning a bunch of stuff for free?!
Now that sounds like a good deal to me.