This review is about a binary options scam called “The Banker Profit System”, it is presented by Andrew Teegan.
What is it about
The Banker Profit System is an automated binary options trading system that can trade your account. According to Teegan it will make you $5,368 per week. For free, of course. It is supposed to open 30 minutes trades on the most volatile markets.
Why is The Banker Profit System a scam
The first thing you will have to do after joining is to open a trading account with their broker, which is Binary Book at the moment, you will have no choice, because it will earn them affiliate commissions.
But there are other lies. Teegan offer you the position of a beta tester. But on the Banker Profit System web site you see some seals and awards like “Top trading robot 2015”. How can a system get awards if it is in the phase of beta testing?!
But the worst thing about The Banker Profit System is that it is based on the Martingale strategy, which is about doubling (or more) your investments after losing trades.
Teegan himself admits that if you lose 4 trades in a row with his system, your account will be finished. He says that winning the fourth trade has a probability of 98 %, but this is a lie.
We have been trading for 10 years and believe us, four losses in a row are far more common.
Sooner or later you will get 4 losses in a row when trading, but meanwhile with normal trading strategies it is not a big problem, with The Banker Profit System your trading capital will be completely lost!
Of course Teegan will show you some fake testimonials with paid actor and fake trading statements. Just look at his trading statement, it contains the proof that it is faked.
Stay away from the Banker Profit System on binary options. It is a scam utilising the dangerous Martingale system that would liquidate your trading account with your money very quickly.
Profits on binary options come with learning, testing, building a proper strategy and trading it manually.