Binary options are targeted by a lot of scammers and today we will uncover one of them. He says his name is Scott Evans and he supposedly is from Southampton, UK, but we can clearly say that his web site is a scam.
Why? Because the author of that web site just used a template that is being widely copied all over the internet, see another example with the fictitious German Paul Junker. The fact that it is only a copied page is enough to state that Scott Evans probably does not even exists, the person behind it is just trying to make you immediately trade binary options, so that you lose all your money.
Don’t get us wrong, you can earn money by trading binary options, but you have to start slowly, you first have to learn what are binary options and then try them on a demo account that good binary options brokers offer upon request.
But let’s get back to Scott Evans, because on his page he is stating a lot of misleading information. One of them is that he is achieving a 90 % success rate. We have been trading for almost 10 years and we can say that is impossible for an individual trader to achieve such a rate in the long term. In reality anything above 60 percent with binary options is good and above 70 percent is excellent. Evans is just trying to make you think that it is dead easy.
Another nonsense is this: „The rate has been going up for the last 30 minutes, so it’s 100% certain it will keep rising for another minute.“ The price really does not care about such things, you have absolutely no guarantee that if it was going up for 30 minutes, that it will go up for another minute. In fact your odds are 1:1 if you don’t use any trading system.
Then when you look at his calculation of earnings, it does not make sense. He says that he invests 10 Euros into one trade, which corresponds to his loss of 10 Euros after 30 minutes. But in this case it is impossible to make 60 Euros out of 3 profitable trades, because the return ratio is 80 %. The maximum profit from 3 successful trades would be 24 Euros, so instead of a total profit of 50 Euros after 30 minutes, he would earn only 14 Euros.
The same logic applies to the results after 4 hours of trading, 30 profitable trades would mean 240 Euros of profit, and not 300. The maths are even worse after 1 month. Because 9900 successful trades would never mean 9900 Euros, nor the 150 losses would mean -150 Euros.
We can also point out that at different places of his page he says different things about his monthly earnings, once it is over 10000, once over 12000, once over 15000 thousands.
This way we could continue for a long time and demonstrate what is clear already now: Scott Evans (or whatever is his name is) is not trading binary options, in fact he does not know anything about binary options.
So if you are interested in binary options, learn about them and start slowly with a demo. Because if you jump into real trading without any preparation, like Scott Evans want you to do so, you will lose all your money.