In this review we explain why we don’t recommend trading binary options with The Binary Nerd and Trade4.me.
What it is about
So you should be basically copying a winning strategy and learning how to trade binary options.
Now we will explain why we don’t recommend signing up for The Binary Nerd.
First of all The Binary Nerd is an anonymous person that has no licence whatsoever to provide financial services or advice. He can say whatever he wants in his Terms, but the fact is, that if you want somebody to copy your trades, you are providing investment advice.
The Binary Nerd tries to delegate the responsibility to Trade4.me, because you are supposed to copy his trades through the Trade4.me platform. But then again Trade4.me (run by SAS Neutrino) is not regulated either. And they say that they just provide third party recommendations. Which leads us back to The Binary Nerd.
So nobody in this is legally authorized to provide trading signals. And we remind you that providing trading signals is a regulated activity in the EU, USA, Canada, Australia and all other countries with a solid financial regulation.
Tied with Binary.com
Both the Binary Nerd and Trade4.me a tied with Binary.com. If you want to use their services, you have to get a trading account with Binary.com. This is very suspicious and it means that these services are not independent, you cannot choose where you will trade.
Moreover Binary.com is not a regular broker, it operates under a British gaming licence, so it does not follow the same strict rules as EU regulated binary options brokers do.
Strange chain of services you have to get
Normally a social trading platform automatically executes the trades on your account. But The Binary Nerd wants you to sign for other services like a VPS and you have to pay for it. Then you also have to sign up with a specific forex broker to get Metatrader.
It is a strange chain of services that is hard to understand. Binary options trading doesn’t have to be complicated as this.
Using Metatrader for technical analysis can be useful, but then you can get it anywhere, for example directly from Metaquotes, you don’t have to get it from a specific broker.
We don’t recommend trading with The Binary Nerd and Trade4.me, because they provide unregulated investment advice that is tied to a betting service, you cannot use it with a regulated broker.
We believe that every honest trading signals service should let you verify the signals on an independent demo account with a regulated broker and not force you to sign up with certain companies.