There seems to be a severe increase in get rich quick programs based on Binary Options at the moment – this is not a good thing!
Unfortunately these Binary Options based opportunities tend to be targeted by extremely clever individuals out for a quick buck.
This brings me to the Elite Trader App – another worrying product from the dark and seedy side of earning online.
So, is Elite Trader App a scam?
I’ve lost count of the amount of systems that use this type of video to draw people into their fabricated finance world. They always seem to center around the same ‘arm twisters’ that catch newcomers to working online out…
- We are shown testimonials in the form of emails from customers who are over the moon with the amount of money they have made
- The video on the sales page narrates these emails with different voices in an attempt to convince the watcher these testimonials are legit
- The video informs us that there is a ‘pool’ of elite traders sitting around waiting to make us money
- They pour scorn on the other scam systems available that base themselves on earning you $$$$ a day
- They then go on to contradict themselves by claiming the Elite Trader App can ( and will ) earn you over $1000 a day
The only difference I encountered between this and every other Binary Options farce out there was a small amount of honesty offered on the sales page.
Most offers like this paint over the fact they are going to take a small commission from your account but Elite Trader seems to be upfront about it.
They calmly inform you that they will be taking a 5% cut from your winnings – I thought this App was supposed to be FREE?
Same Old Story
Signing up was the same, depressing online story – name and email address so your mailbox can be spammed to high heaven and back again!
You are then sent to a secondary registration page which again wants to pinch your email address off you ( more spam folks! ) before ending up at a broker’s site.
You find out you have been automatically registered to a broker named Option Financial Markets. Now I’ve encountered many of these Binary Options brokers before but this one is a new one on me – I was worried, very worried.
It’s not long before Option Financial Markets are asking for $250 off you to get started. If you pay this the game is up I’m afraid.
Not only are you paying 5% of your ( promised ) winnings to the Elite Trader App, you are also paying the broker over 20% of you winnings as well.
That’s about 25% of your reward gone up in smoke as soon as you win something. If you want to make money out of this system you are going to have to win BIG on EVERY trade you make.
Is Elite Trader App a Scam?
Scam is a really strong word and most of these Binary Options programs are twisted so they stand with one foot in the ‘legit zone’.
But Binary Options is nothing more than going down the racecourse and throwing $50 on a greyhound. It’s simply a gamble – the only way you can win every time with them is through the use of a time machine!
The figures just don’t add up either – if the broker pays you $70 for every win, you will need to win 55% of all your trades just to break even. These don’t read like figures that are going to make you over $1000 a day right?
I cannot recommend this product to anyone that is looking into making money online.
Our #1 Recommendation
If you are interested in learning how to make money online the legit way, we would recommend checking out the FREE courses offered by the Wealthy Affiliate university. Read our full review by simply clicking the link below: