In this review we are going to examine a new binary options scam called 100% Profit Bot. We again did not even need to trade this system to be sure that is a scam. See proofs.
This system is explained the usual way in a video, saying the usual fairy tales about a bullet proof system. But what is 100% Profit Bot really about?
They are openly saying that it is a trading system based on the Martingale money management system. Martingale is about betting always on the same side, and if you lose your bet, you bet again and double or multiply your bet.
We have already said it many times, but Martingale is extremely dangerous. In fact, the authors of 100% Profit Bot give you proofs in their video!
They say that when you start with $1000 on your trading account, you first trade with $25. If you lose, you trade the same binary option with $75. If you lose, you trade again the 3rd time with $225. If you lose, you place a 4th trade with $675.
As you can see, if you get 4 losing trades in a row, your account is finished, you have $0. You can hear in the video that it is extremely improbable, that it has never happened before, but it only takes a brief look at any price chart to see that is very common to have 4 or more candles going in the same direction. Look at the image on the right, you need just one of these moments to blow your account with Martingale! So in reality it can happen any day.
But you would blow your account even faster, because these scammers say that you have to split your $1000 between 4 brokers, so you will have $250 with each. So you only need 3 losing trades in a row to be finished, as you will have no account with a balance of $675 to take the 4th trade.
They tell you many lies and nonsenses in their video, for example about the probabilities of winning trades, but let’s keep this review short. If you still don’t believe that this system is a scam, look at their testimonials. They used stolen photos, the stories are not real, see proofs on pictures below.
So what is the point of 100% Profit Bot? They say they are not affiliated with any brokers, but this is of course another lie. In fact they have a list of brokers they are affiliated with and you cannot use any other broker for their trading system. So they will earn commission with brokers each time you open an account and deposit, that is their scam. We repeat it over and over again, don’t lose your time with these bots and systems, the only way to make money with binary options is to trade them on your own.