One of our readers asked us to review „Trend Xpert“, so we did it. We found a connection with „Option Xpert“ and we do not recommend trading with these signal providers, they are run by scammers.
Trend Xpert and Option Xpert
When we started to analyse TrendXpert, we found a strange connection with Option Xpert and the no longer existing Option XE. Look at the picture on the right, these three programs are obviously connected and made by the same guy who calls himself Ben Newman.
So the question is, why would someone more or less replicate his binary options program under three different names? And why one of these programs (Option XE) no longer exists? Honestly, it smells like a scam since the beginning.
Trend Xpert doesn’t provide any contact information, meanwhile Option Xpert does. But the address is strange, it does not correspond fully with the real registered company in Spain, see the second picture on the right. Moreover Option Expert provide an UK phone number, but the company should be Spanish. Where is their UK registration?
And last but not least, Newman claims in the Trend Xpert video that he provides these services since 2012, but it is a lie, because both programs were created in 2015 and the company in 2014, see the third picture on the right.
So every aspect of the identity of these programs looks very suspicious to us and we are not afraid to call them scammers, because they lie.
Now let’s have a look at some of the Newman’s claims about Option Xpert strategies. First of all he says that thanks to his strategies people make $1,000 per day, which is a bold statement.
One of the few hints he gives about the strategy is spreading the same trade among several brokers, hoping that if it is a losing trade, it won’t be losing with every broker. But the reality is that if the market moves clearly against you, the trade will be losing with every broker, so this strategy is very dangerous.
Imagine placing the same trade with five brokers and losing all of them. You would then have to make 7 winning trades to recover the loss! So this really is not a strategy, it reminds us of Martingale, which is dangerous too.
No deposit, no trading
All the binary options scams we have seen so far have one thing in common, they promise you nice earnings with a strategy/robot/signal service, but in order to get access to it, you have to open a trading account and deposit money with a selected broker(s).
And Trend Xpert and XE Trader are exactly the same, you have to open an account and deposit with at least on of their brokers, otherwise their service won’t be active. If they are so good, why don’t they give a trial on a demo? Why do you have to immediately risk your own money? As we said, all scams do this.
When you look at the list, you’ll see that the vast majority of them is unregulated, so you have no protection, your deposit is not insured.
They push especially US traders to unregulated brokers with a very doubtful reputation.
There are also a few regulated brokers in their list, like Banc de Binary, but this broker has a bad reputation too, we hear a lot of complaints about Banc de Binary.
And finally the the last proof that Trade Xpert and Option Xpert are just part of a binary options scam network. Ben Newman and Keith Wareing endorse on their web sites proven scams like Binadroid or OptionRobot.
They do that with affiliate links, so they get paid when people get scammed.
Moreover their XE Trader is endorsed by BinaryOptionsWatchodog, which is another scam web site, so the circle is complete.
Trade Xpert, Option Xpert and XE trader are just binary options scams. They lie about their identity, they use a very doubtful trading strategy, they won’t let you try anything unless you deposit money with their broker and they endorse other scams. So we recommend to stay away from them.
If you want to try binary options risk free, do it on a demo account where you can play and test without limits and real money. Then you’ll see if you are really interested in trading and making money with binary options. On the demo you can learn and build your own profitable strategy.