Product Name: Swiss Binary Robot
Product Owner: Andre Burgin
Price: $250 Minimum Deposit
What is it?
A site promoting binary options trading by using ‘special’ software designed to lower risk – at least in theory.
This is one of many different binary options scams online and they all take the same approach. Having some magic software or ‘unfair advantage’ sounds fantastic, but it doesn’t play out like that in real life. Instead, Swiss Binary Robot is a risky approach that can end up being expensive rather than profitable.
Before You Buy
Sites like Swiss Binary Robot tend to go through a single binary trading broker, in this case CVCOption. If you are at all considering binary options trading it’s worth taking the time to check out the reviews for that broker as well as any terms and conditions. While there are some largely reliable brokers out there, most of them are not, and there are many brokers with a reputation for not letting you get money out again.
What I Liked
There wasn’t really anything I liked about this product. Overall it felt like a big waste of time and I hope that no one falls for its hype.
What I Didn’t Like
When it comes to a good online product, one of the first things I look for is professionalism. It isn’t too hard to make a website that looks good and is consistent. Just about anyone selling a legitimate product will take the time to do this.
However, scam sites often don’t do this. Mostly, it seems to be because the sites aren’t around online for very long, so they want to make as much money as possible as fast as possible.
From the start of the video for Swiss Binary Robot, you can see that the owner really hasn’t put all that much effort in. For starters, every word starts off with a capital except one – for no apparent reason. Additionally, the sentence doesn’t even make sense, the final word should really be uses not use.
Now, I know I know, this is nitpicking. However, when you find a site where the authors don’t even bother to get the start of their sales pitch right, it’s a really good indication that there isn’t a lot of effort being put into the product.
With this product, there is a huge emphasis on the fact that it is Swiss. People associate Switzerland with security and money largely because of the whole concept of a Swiss bank account. However, people who have Swiss bank accounts do so to get around tax laws and that isn’t relevant to this case at all.
In fact, Switzerland is barely related to the product at all. The only thing it does do is trade in Swiss currency, which is just as likely to be a bad thing as it is to be a good thing.
Even the so-called SWATT technology the site boasts (Swiss Automated Trading Technology) is likely to be no different than any other automated trading system out there. Believe me, if SWATT technology really was that special, you would see a lot more than 91 Google results for it (most of which are from sites like Swiss Binary Robot).
While we’re at it, the claim about how much money you can make through this program is grossly misleading. Over $32,000 a week? It just isn’t realistic.
The narrator can’t even seem to make up his mind about how much money the product earns, because he later talks about how you can earn just over $159,000 in six months.
If you were earning $32,435 per week like the narrator initially claims, you would earn a lot more than $159,430 in six months. In fact, if you were earning $32,435 a month you would end up with $194,610 in six months.
It isn’t all that surprising these numbers change, because what the narrator avoids saying is that this isn’t a guaranteed way of earning money. It isn’t even risk free. In fact, I would say it is more like gambling than any legitimate approach of earning money.
Here’s the thing…
Swiss Binary Robot (like many similar sites out there) claims to have software that gives you an advantage in this way of earning money. This doesn’t work. It never works. I don’t care how good the algorithm behind a piece of software is, it does not have the ability to work out the best trades in the market.
If you listen carefully, the narrator actually just claims that the software lets you get the most profitable trades on the market. There’s a problem with that. Most of the time, the profitable trades are also the ones with the highest risk – I mean, that’s how pretty much anything works. High risk, high reward.
Let me repeat myself.
This approach to making money is risky. No software in the world can change this and people who use this type of software almost always end up losing money.
The approach itself, is binary options trading. It’s an approach that I don’t personally like because of the risk involved. You have to pick whether you think a pair of options is going to increase or decrease and make a call based on that.
If you are right, you win money, if you are wrong, you lose what you put in. So, basically, it’s like double or nothing from gambling. However, there is another catch. The payout is never actually double your money.
The payout amount differs from company to company, but in this case, winning gets you 175% of what you put in, while losing gets you nothing.
Because you have two options (put or call) you more or less have 50% chance of winning any given trade if you chose randomly. However, because you only get $175 back on a win, you have to win a lot more than that to even break even.
And that really is the thing with this ‘system’. It’s chance. Whether you use the software or try and predict things yourself, it’s chance. Have you ever looked at pairs of options? They constantly go through little changes, up and down.
If you really really know the market, then it is sometimes possible to be good at this type of trading, but software can’t do that for you. In fact, the software can make things worse, because it takes all control completely out of your hands.
The other thing to note is that the minimum deposit for the binary options platform that Swiss Binary Robot goes through is $250. That’s a lot of money to put down for a system that is unreliable at best. Most of the time, it’s very difficult to get any of that money back out again if you change your mind
Regardless of how ‘wonderful’ the Swiss Binary Robot software sounds, the reality is that it cannot guarantee good trades and means that you are more likely to lose money than to win it. Beyond all that, do you want to put up $250 for a misleading product that probably won’t work.
People always say that you have to spend money to make money, but this isn’t normally how they mean. If you’re going to make an investment with your money you want to take the time to research the investment properly and make sure you aren’t taking unnecessary risks.
A much safer and more effective approach to making money online is through developing your own website. This is an approach that takes longer to get started, but can also be more profitable in the long-term and much less risky. You also don’t have to go into it blind and there is a lot of amazing training out there that can help you to get started.