In this review we are going to have a look at the “Mike’s Auto Trader” on binary options.
We’ve been reviewing binary options scams for years and we have received many questions about Mike’s Auto Trader, so we finally decided to have a look at it, although it has not a standard presentation that we are used to.
Let’s put it straight, we don’t trust Mike’s Auto Trader and we don’t think it can make you any money. Here is why.
Mike’s Auto Trader is very suspicious
These are the reasons why we believe that the safest thing to do is to stay away from Mike’s Auto Trader.
Michael Freeman is a famous guy in the binary options industry, because he has several binary options web sites and he is publishing a lot of videos too.
However we have discovered that Michael Freeman is endorsing binary options scams like Centument or Gold Digger, meanwhile he probably also created some of these scams, like Virtnext. So he is a scammer, we have no doubt about it. See our article BinaryOptionsWatchDog is a scam web site.
So how could we trust somebody that is making money by recommending binary options scams? How probable is that his own system is honest?
Mike’s Auto Trader
Then we have the trading app itself. Although Freeman says that you will be able to choose your broker (and the charity to donate to), you are not given any choices. The absolutely first thing you have to do when you join him is to open a trading account with his broker and deposit money, at least $250.
This is the common sign of all binary options scams, they don’t let you try anything before you deposit your own money. Freeman claims that he is honest, so why not giving you a chance to try his signals for free without risking your money? He says that Mike’s Auto Trader is completely free, so why he is pushing you to deposit with his broker in order to earn an affiliate commission on you?
Why he does not even let you have a look at his signals to maybe check them manually? Why not a free trial on a demo? When you just try to look around for a while, a window urging you to deposit keeps popping up. This really does not seem honest.
By the way, he is pushing you to deposit with Benedict Morris, which is an offshore and unregulated broker that is cooperating with many scammers. So another reason to stay away.
Mike’s Auto Trader is a very suspicious project created by Michael Freeman, who is a known scammer. You cannot try it unless you deposit money, which is the common trait of binary options scams, so our recommendation is to stay away.
Nowadays is it so easy to get a free demo, so never start trading any strategy or system with real money until you could verify on a demo that it really works.