Product Name: Cedar Finance Binary Options
Product Owner: Unknown
Advertised Price: $200
Upsells: Pressure to invest $1000 or more
What Is It?
Binary options trading, which is a way to buy and sell stocks
Binary options is a legitimate form of playing the stock marketing, but considered by investors as a kind of gambling rather than investing and on top of that, Cedar Finance has a very negative vibe on the internet.
Before You Buy:
The videos on YouTube advertising their service are super-hyped, telling you how easy it is to make thousands of dollars a day. They tell you how easy it is, how there are only two buttons to push, and you can get started with as little as $5.
This is, of course, only part of the truth. $5 is the minimum trade, but $200 is required to open an account. Then, as other reviewers and testers have pointed out, you will receive a phone call at some point encouraging you to put more on the table (ie one thousand or more).
They do have a phone service that you can call and talk to real people, which is a plus, but they are more salesman than customer service rep, so watch out.
Inside their platform you basically push an up or down button to guess where the little stock line is heading. If you are right, you get money. If you are wrong, you lose money.
What I Liked:
The idea that earning money is easy can be intoxicating. I'm still thinking about actually trying binary options, but I would not do it through Cedar Finance.
What I Didn't Like:
There is a lot of negativity surrounding Cedar Finance on the internet. First off, they encourage people to recruit new sign ups, which is weird for a investment company. No other company I know of (Scottrade, TradeKing, Vanguard, Etrade, etc) do this except with a refer a friend bonus. This makes them more like a business that sells things, and less like an investment company.
Then, there are rumors of them being a complete scam, not paying out when they should, and all kind of shenanigans going on. It's tough to say what is people just being pissed off because they lost money in trading risky assets, and what is truly a scam. I had an extremely long argument with a guy on YouTube about this – you can see it HERE in the YouTube comments
Look at it like this:
1) Binary options is a legit system, but very risky, and kind of like gambling, especially if you don't know what you're doing.
2) Cedar Finance has a horrible reputation for bad customer service, and low moral fiber with regards to advertising techniques
3) Cedar Finance may or may not be an actual scam. Regardless, there are many reputable companies that do binary options trading, so you would be better off trying one of them.
Who Is This Product For:
Someone who has lots of money and doesn't mind risking it in a game of chance.
Open an Account at Cedar Finance Binary Options Here
If you like binary options, I don't have any real suggestions for you. It's just not my thing. But if you are looking to make money on the internet and want to follow my steps, then I can help you out. Join my 5 day email course on affiliate marketing and I'll show you how I do it.
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