Bahama Banker is an interesting automated trading binary options robot which was initially released in 2016 and has now been updated for 2017. Before you become the next victim of the classic binary options scam, take a few minutes to understand what the Bahama Banker does, and how it works.
Sadly, if you already lost money using the Bahama Banker software, we can not help you, just direct you to the complaints page.
In general most of the scams operate in the same manner, and we have already discussed details of the scam here.
Bahama Banker Review
We you look at the Bahama Banker actual software, you will see in the screenshot below that there are very few functions available to configure. You can select the trade amount, the maximum trades, and activate the software.
There is no ability to see historical trades, or historical results. Nowadays, there are no binary option traders who use a software where they cannot control which assets the software trades. This reminds us of the original binary options robots, which only had an On/Off button.
Look at the new binary option robots that the majority of investors are now using, see here.
Bahama Banker Scam
The original Bahama Banker product was located at BahamaBanker.co, but they closed that one down and redirected visitors to 1K Daily Profit (another scam software). On January 29th 2017 they opened up the BahamaBanker.Club website and started advertising the software again.We noticed various red flags when we looked at the new website. Just to mention a few, We did not see a login button, and they write that it has a 96.1% win rate.
False Guaranteed Profits – Here is what they write on their website:
“Our automated tracking system GUARANTEES daily profits of at least $1,250 per day.”
Fake Brokers For The Bahama Banker
Did you know that a real binary options broker must be licensed and regulated just like a Forex broker?
Many people are too busying watching and believing the false promises of the paid actors and they forget to verify that the trading account their were given. Most of these “get rich quick scams” work in conjunction with an unlicensed, offshore binary options broker. By using an unlicensed broker, you can almost be certain that you will never see your money again.
Always make sure you are using a broker that is licensed and regulated, see brokers here.
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Warning from Australia’s Regulator
“ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services licence.”
We want your feedback! Please share your experience using this software in the comments section below. Tell other investors which broker you trade with, and if you were able to withdraw your money.