This review is about a simple binary options scam called the “Currency Code Counter”. It is presented by Andrew that calls himself Mr. X.
Mr. X tells you a story about him being a long term Forex trader that is making a lot of money. He says that over the years he learned all the patterns and knows when a currency is going to rise and when it is going to fall at any given time of the day, because he is the currency code counter like a card counter playing blackjack.
Now he is willing to give you access to his trading system on binary options so that you can profit too. He says that governments are after offshore binary options brokers because too many people are getting too rich too fast.
Currency Code counter is in fact just an ordinary scam. Let’s look at some facts.
- Governments are after offshore binary options brokers, yes, this true, but only because these brokers are not regulated, they are not under control and too many of them are just scammers that take all the deposits and disappear. On the other hand you have regulated brokers in the EU and in the USA (Nadex) that are working perfectly fine and have no problems.
- Counting currencies codes, saying that the same cycles repeat over and over again is a big nonsense. Just open some charts and you will see. Some technical patterns repeat, but not always at the same time and you cannot know when they will reappear, thus you cannot know in advance when a currency is going to rise or fall. What Mr. X is saying is a fairy tale.
- X says that he will give you his money to start trading. Big lie. You will have to deposit your own money and the broker will give you a deposit bonus that you won’t be able to withdraw until you meet the turnover condition. So you will be risking and losing your own money.
- Binary options could be dead very soon – another nonsense, binary options will be there for a long time, just like Forex for example.
Mr. X made his Currency Code Counter system just to make you deposit money with his broker, because this will earn him affiliate commissions. If you then trade with the Currency Code Counter, you will lose your deposit.
Binary options are not dead and won’t be any time soon. Binary options are an investment tool that can make you money, if you learn how to trade profitably. Anybody promising you free money with an automated system on binary options is just abusing a respectable financial instrument.