In this review we explain why you should not trade binary options with Binary Auto Trading Software, also called BATS.
What it is about
And if you don’t have the time to do anything, you can get a managed account that should get you an 85% monthly return on investment.
BATS is supposed to have a free trial, but we could not get it. But it is not that important.
Binary Auto Trading Software is illegal
BATS is allegedly based in Santa Ana, California. This means that in order to operate legally, owners of this program have to have a license. But they don’t have any, they certainly are not registered with the CFTC or any other regulator.
This means that Binary Auto Trading software is illegal. As simple as that, this is how investment services work, either you have a license, or you can’t provide them.
Returns and win ratio?
A 97% win ratio is literally impossible in any trading. And a 85% monthly ROI, when the world’s best hedge funds do about 30 % per year? You be the judge. Our opinion is that numbers provided by BATS are straight lies.
Look at our picture and you will see that BATS was created in January 2017, so it is impossible for it to have won an award the year before.
How it works
So what is the real purpose of Binary Auto Trading Software? We believe that the primary aim is to make money to its owners. If they charge money for their services upfront, it is one source of revenue.
But another source is clearly affiliate commission from brokers. Look at the picture and you will see that they will force you to sign up with one of their brokers, otherwise they won’t manage your account.
So they will make you deposit money with their broker, which will earn them a commission. Then they won’t care if you lose money on your account, because they will already have their commission, even if they trade your account to zero. This is a principle that we see with binary options scams.
Binary Auto Trading Software is an illegal investment service, that makes promises that are totally unreal. We recommend staying away from BATS.
We believe that the only reliable way to make money in trading is to learn and build your own profitable strategy. You can try and do that on a free demo account with a regulated broker.
The majority of people doesn’t succeed in trading, this is why you should start on the demo and never switch to real money if you don’t have a working strategy.