Fintech Profits is a brand new company that offers a binary option signals software, which opened on January 30th, 2016. Fintech Profits is not to be confused with the similarly named product Fintech Limited, or the broker name TradeFintech.
You are probably wondering if you should use Fintech Profits, and will it make the money they promise on their website.
ALERT! Make sure you understand how “scam brokers” will steal your money, read this.
Fintech Profits Review
The Fintech Profits software is very similar to many binary options trading systems. We also received the email telling us this is the newest and greatest software to use.
When you watch the video, the actor sounded very convincing and genuine. He is trying to make us believe that we can also make $200,000 buy following the trading signals that Fintech Profits software generates.
Serious investors and traders in Forex and Binary Options already know that a signal is only as good as the timing of the trade. If some tells you to buy the Euro against the US Dollar because it is going up, you will make money, only if you buy and sell at the correct time. If you buy to early or too late, especially when trading binary options you will lose money.
Negative Aspects of Fintech Profits
There were a few problems we noticed when we reviewed Fintech Profits.
- What are the signals based on? Are they random or is there a technical analysis method behind them.
- Which Expiry Time should I use on the binary option that I am buying. Is this signal good for 5 minutes or one month.
- Why can’t I choose to use a CySEC licensed broker, with a good reputation.
- Their historical signals have to be fake because there is no such thing as 100% accurate signals.
If you take a look at the screenshot below of the actual signals, you can see that all it says is the “Confidence Factor”, whatever that means.
False promises made by binary options providers are common, and not very nice.
Across the top they wrote:
See How Hundreds of Members from Australia Are Making $550 EVERY DAY!
Well if that is the case, why does their FAQ section claim I will be making $1350 a day. Which one is it? $550 or $1350.
They Recommend Unlicensed Brokers
A major problem with any free trading signals software or automated trading robot is the brokers they chose to work with. As we mentioned at the beginning of this review, if you want to know how you will lose your money trading binary options, you should read about how the binary options scam works.
Trading binary options can be profitable and fun, as long as you are using a licensed and regulated broker. Every country has their own government agency that gives licenses to brokers, including the CFTC in the United States, ASIC in Australia and the FSB in South Africa.
Go visit our best brokers page, and you will find local brokers that are licensed, see here.
Auto Trading Robots
The alternative to using a signals software for binary options, is to use an automated trading robot. There are many to choose from, but we narrowed down the list of popular robots, look here.