We are trying to determine in this review of Cogni Trade software, if we can make money using it for binary options trading. The official website at http://www.cognitrade.co/ says “Cognitive Trading = Big Money”.
How many times have we seen promises of big money with an auto trading software, only to be let down at the end.
Australia ASIC Warning
“ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services licence.”
Cogni Trade Scam
The Cogni Trade scam works like this. While you were watching the video, you probably didn’t notice this big bold word on the top of their website.
“WATCH THIS IMPORTANT VIDEO AND LEARN HOW TO MAKE $1,500 EVERY SINGLE DAY”
Fact! There is no such thing as a risk free trading system, and there is no trading software which can turn your $250 into $1,500 a day.
Compounded with the false claims they write across the top of the Cogni Trader website, in their FAQ section they said that it is Guaranteed. We want to know who is making this guarantee? You can try email them at firstname.lastname@example.org, and see what they say.
ALERT: If you want you know how to get your money back from Cogni Trade…
You will need to read the complaints page.
Cogni Trade Review
The software you see at https://cognitradeapp.co/dashboard is not new and it is not exclusive to Cogni Trade. Last year we reviewed the exact same software which used the name Ten Fold Finance. The difference between these products are which brokers they are working with, and the actors that do the talking in the video. Look look at the screenshot below of the Cogni Trader Dashboard.
You will notice that Cogni Trade is recommending we trade with an unlicensed broker called Ivory Option.
There are hundreds of binary option robots to utilize for algorithm trading, see here, and when you compare them with this software you will the differences.
Scam Binary Options
The scam in binary options comes from the hundreds of fake websites which look like real binary options brokers. When we signed up for the software, they gave us an account at an unlicensed broker. Trading binary options at an unlicensed broker is just plain stupid and risky. They chances of getting your money back from them are very low. Many scam brokers are located in offshore countries, and your money is not safe.
Smart people only trade at a licensed and regulated broker!