Blue Sky Binary test results, review

Blue Sky BinaryOne of our readers asked us about our opinion about “Blue Sky Binary”, so here it is in this review.

First we have to say that we tested Blue Sky Binary last year, so some things may have changed since then. We wanted to check it again today, but we cannot, because Blue Sky Binary is lying about the membership being free.

Because when you click on “Join for Free” you are redirected to a Paypal payment. It is only 1 cent, but they are still lying, because it means that it is not free.

Trading signals

resultsBlue Sky Binary offer several services, mainly education, trading signals and an autotrader. When we tested it last year, we focused on the trading signals, because it is what most people are looking for.

There were several types of signals, but we were trading only those with a longer expiry, which means that were not trading signals with an expiry shorter than 5 minutes. Most of the signals we were trading were generated by a pattern called Recoil.

We traded several hours every day and at the end of our test we had 91 trades with 47 winners. It means a win ratio of 51.65 % percent, which is like tossing a coin, the system obviously had no edge at all. This win rate means losses in the long term.

The system of Blue Sky Binary signals was so bad that it sometimes generated a Put and a Call signal on the same asset at the same time, which means a guaranteed loss. Or it was generating a lot of signals in a row on the same asset, look at the images.

trades    trades2

We know people from Blue Sky Binary would say that you can learn and not take every signal to increase the win rate. But then the signals make no sense. If you know how to trade, you trade your own system and you don’t need any signals.

Education

The Blue Sky Binary Trading University is supposed to teach you how to trade binary options. We just had a quick look at it and we had our doubts. We haven’t seen anything that you could not find elsewhere for free. And what was very annoying is that teaching took place through Skype.

So we were required to join a few Skype chat rooms, which are very active, people were sometimes chatting off topic. The result was Skype constantly ringing and popping up on our desktop with each new message. It was almost impossible to follow. You’d have to spend the whole day just reading the Skype messages.

Experts?

The Blue Sky Binary project is allegedly run by expert traders who create trading systems and educate others about trading. After going through the courses you can become a certified trader and teach other.

e-mailBut we have a lot of doubts about the quality of this process. Because one day we got an e-mail from Blue Sky Binary saying that they were looking for a Portuguese speaking trader to deliver Portuguese webinars. The reward was $50 per webinar. But the most important thing is that Blue Sky Binary would provide all “content and training”.

So they let almost anybody teach others how to trade. You don’t need to be an experienced trader with a proven track record, you don’t need to have reasonable history of profitable trading, you just go through some training and you can teach others how to trade?! Sorry, but this is not how it works.

By the way, becoming a Certified Binary Analyst means that you are certified by senior traders from Blue Sky Binary. But who are those senior traders? Are they certified investment advisers in their country? Do they have licenses from a regulatory body? Blue Sky Binary provides a London address, so are they an FCA regulated company with a license to provide investment advice? Because in the UK a financial adviser has to be approved by the FCA.

Conclusion

Our last year’s test of Blue Sky Binary was clear, we don’t recommend this service for all the reasons we explained in this review. In one year some things may have changed, so you of course are free to explore what they offer now.

But we would like to remind you one basic thing, always try all signals and trading systems on a demo account first. You can trade it live with your money only after seeing that it works on a demo. Which also means that if somebody does not let you try their signals or robot on an independent demo, it is better to stay away from it.

Summary
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Blue Sky Binary
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7 thoughts on “Blue Sky Binary test results, review

  1. I want to know who are the PEOPLE behind Blue Sky Binary. Someone or SomeoneS are behind the corporation. I am concerned that John Mcafee may be involved. Doing any business with a pervert—will NEVER happen knowingly for me.

  2. The people behind BSB are financial engineers, look them up on linkedin. John Novak runs a con website that doesn’t allow real reviews of services. BSB is by far the safest and only REAL financial education company active in binary options. They don’t provide signals the above review is fake news and bogus. Just go there and speak to them.

    Just speak to their hundreds of clients. This idiot who runs this website will delete this review too so whats the point when you’re dealing with affiliates like Novak.

    McAfee pushes ICOs and isn’t a trader. What a load of bullshit.

    1. Thank you for your kind words. I encourage everybody to check Bluesky Binary with their national financial regulator, you will get a confirmation of what we say in our review.

      1. I did and living in the UK and having worked as a broker I an tell you I know FSMA from FSA days and ESMA in today’s environment very well. And educational indicators or educational software for financial trading is 100% legitimate. I invite any serious person to go to REAL reviews at google. Just google blueskybinary and you can see this to your right: https://i.gyazo.com/0bbaf65f86941f427d2ae3c2a5340eb7.png

        The above are REAL clients and I even know some of the folk there because I trained with them there. I have been a long term client there and actually learned how to trade there. You haven’t because your review includes far too many falsehoods for me to believe you have actually properly reviewed them.

        95% of their service is pure education for technical analysis and fundamental analysis. Have you gone through their in depth video on demand course which takes 3 months to complete? Or their 1 on 1 lectures? Or their exams? Have you sat down for 3 hours on a Sunday with their senior lecturers who painstakingly hand hold you on how to AVOID SCAMS in binary options and learn about common pitfalls of trading?

        Most of their stuff on the dashboard is indicators based on what they call “Core” formations for the Core strategy which all of their clients use. Its not investment advice or deposit advice because their “signals” are Core indicators. I won’t talk about that doctored screenshot with the green stuff since thats not from their dashboard. I invite anyone to go and use their dashboard and they won’t find stuff written in a foreign language or whatever Eastern European language you have used, let alone signals on “GOLD” which they don’t offer and I’ve been there since 2016.

        For the “RECOIL” signal thats an indicator and you need to learn Recoil theory which they teach in depth in order to use it properly. The crap about 50% win rate is just nonsense. How can indicators have win rates? It depends on how you use the indicator so it depends on trader skill.

        They don’t partner with any brokers or make any affiliate commissions unlike you do here so their business model is not based by sending traders to brokers for CPA or revenue share, unlike you. Why not have an honest disclosure “John Novak”?

        1. I think we provide enough proofs in our article, also about the so called experts that are recruited via e-mail. And you are not telling the truth, providing trading signals is a regulated activity, especially in the UK. Again, I couldn’t care less if somebody joins Blue Sky Binary or not, our review is just a fair warning against an unregulated service. People make their own decisions.

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