Binary Spotlight promotes itself as promotes itself as an automatic way of earning money online, but the site should raise some red flags immediately. As I’m going to show you, this is not a site to be trusted and what the narrator is claiming is so much better than reality.
As you might be able to tell from the product name, Binary Spotlight is promoting binary options trading. In fairness, the site is actually a lot more upfront and honest than most in this niche, and the authors (or author) actually disclose how they earn money as well as some of the risk involved in the trading.
I do like this, but it is used largely as a way of getting people to spend money, which is a pity.
To start off with, binary options trading is risky. That’s true when you do the trading manually or when you use software like this site is promoting. Binary Spotlight seems to think that it has flawless software, but honestly, markets are far too variable for software to accurately predict.
And here’s the thing… If this site was really being honest about its software, why does it keep contradicting itself in other areas? For example, the video talks about how you can earn more than $150 per hour, yet the marketing on the page talks about 150€.
Likewise, the site claims that the technique is automatic and that you don’t need to learn anything at all. Yet, the site offers a training package for people who sign up. If the software was really as good as the authors claimed, that training package would be completely redundant.
The Free Credit
Binary Spotlight offers free credit when you sign up for an account and claims that you don’t need to spend any money to get the credit. This isn’t accurate though. The bonus actually applies when you fund an account with your own money, which means that you really are taking a risk right from the start.
This type of bonus can actually be a major problem. Many binary options trading sites do offer some type of bonus. However, this is normally a ploy. When you take on a bonus from a binary options trading site, it affects your ability to withdraw back out.
Most of the time, the bonus means that you have to make more trades before you can withdraw any money out. This is a risk that Binary Spotlight doesn’t acknowledge at all and they claim that you can actually use the software without spending any money.
Using From The United States
There is a lot of controversy surrounding binary options trading – particularly because so many sites (like Binary Spotlight) try to trick readers into using the trading without making the risks clear. This can affect how long binary options sites remain up and where they are available from.
Binary Spotlight promotes a specific trading platform called OptionYard. Interestingly, the site does not allow U.S. users to register for an account or to trade. This is surprising, because Binary Spotlight itself seems to be targeted towards U.S. viewers. In fact, on OptionYard the default location choice is even the U.S.
This means that if you are in the U.S., Binary Spotlight is not something that you can use.
Making Money Through Binary Options
All too often, binary options trading is promoted as a tool for making money. Sites (like Binary Spotlight) often claim you can make hundreds of dollars per day or even per hour. Yet, in doing so they completely mask the risk involved.
In reality, you have to deposit somewhere between $200 and $300 (depending on the broker) to even try binary options trading and there is a good chance that you will lose all of it.
Why take that risk?
Making money online should never be about throwing your money into something and hoping that you get lucky. Instead, it should be something that you plan out and that you understand before you invest any money at all.
This is why I favor internet marketing. It is an approach that gives you much more control and has minimal risk. Furthermore, you learn how to make money, so you don’t have to rely on any company in the long-term.
The best approach to get started is to look for training. Wealthy Affiliate is one particularly good source of this and my personal favorite. Unlike Binary Spotlight, they are actually honest and upfront about the process and what is involved.