The Binary Redemption starts off with a bang and seems to think that it is showing off this amazing and shocking information. The opening video talks about how binary options and Forex trading markets are being rigged so that people are doomed to fail.
The sales pitch makes me laugh because it’s focusing on how the markets for binary options are stacked against users, but is actually promoting binary options trading. In concept, the software that The Binary Redemption provides is supposed to make it possible to win with binary options, but in practice, not so much.
The funny thing about all of this is that yes, the binary options market is rigged, but the banks aren’t the ones rigging this type of trading. In fact, the binary options brokers are the ones who do the best with this type of system.
I’m going to talk about binary options trading for a bit here, as this is what The Binary Redemption is actually promoting.
Binary options trading is a controversial type of trading that is still relatively unregulated. In this type of trading you are looking at a pair of assets and trying to determine whether they will increase or decrease in a given time period.
Binary options often seems appealing, because it is easy to get involved in, and it seems like you should be able to pick the trends in the market. However, it’s actually much more challenging than it seems.
In particular, markets fluctuate a whole lot and it is very difficult to accurately predict how they will end in a given bracket of time.
With binary options, the odds are always against you. If you win, you get a percentage profit. This varies among brokers, but around 85% is relatively common. So, if put down $100, you would win $185 if you were right.
However, if you were wrong, you would lose all of the money you put down.
That remaining $25 goes to the broker. This gives the broker an edge, because the ratio means that you have to win more than half of your trades just to break even. That’s pretty hard to do as the inherent odds of winning are roughly 50%. So, there’s always significant risk.
The Binary Redemption has its own specific broker that it connects users to, and in this case the payout is 75%, which makes it even more difficult to earn money.
Some people argue (and I agree) that binary options is basically the same as gambling. Even for experienced traders, the market cues aren’t enough to predict where the asset will end up and these cues are pretty much useless for beginners.
The other part of this equation is the software. The Binary Redemption offers software that is supposed to shift this balance.
In concept, the software is supposed to be able to make better trades because it can read cues from the market better. It’s an approach that kind of sounds feasible, which is why so many people fall for it.
In reality, there are dozens of sites at any given time that promote the same type of software with the same promises. There’s nothing unique about the approach whatsoever. Furthermore, if even a single piece of software like this worked, binary options brokers would be out of business.
After all, if someone did figure out a way to game binary options brokers effectively they would make the most of it and get millions out of those sites. They certainly wouldn’t go to the effort of putting up a website and promoting what they are doing.
And this is only one indication that the site isn’t legitimate. Here’s another one:
To start off with, the site isn’t going to expire conveniently 16 or so minutes after you land on it. That doesn’t even make sense. Additionally that counter will go all the way down to 00:00 and then it will stop. Nothing happens when it gets to 00:00 because the counter is pretty much meaningless.
You can even refresh the site to watch it restart.
Additionally, the concept that this approach is 100% free is incredibly misleading. Technically speaking, you could consider the software free because you don’t pay for it directly. But, you do still spend money.
You still have to deposit into the binary options trading broker before you even get to see the software that you are meant to be using. In this particular case, the minimum deposit is $250, which is a decent amount of money.
Actually Making Money Online
The very nature of binary options trading means that it is, and will always be a risk. There is simply no way for any software to guarantee that you will make money, and it is much more likely that you will lose it.
If you’re trying to make money online, engaging in that type of risk is largely counterproductive. You may well end up losing all of the money that you put into it.
Making money online is achievable and the trick is to take an approach that isn’t risky and is sustainable in the long-term. That is the key thing I want people to learn from this site, because myself and people like me have been able to successful make money online by building our own businesses. If you focus on getting an education, then selling stuff that people a WANT (instead of adding a bunch of hype, like Binary Redemption does), then you will have a successful business, no matter what industry you go into.