thebinaryinsider.com SCAM

I write this to prevent other people from loosing money

I came across ”The Binary Insider” Website (https://www.thebinaryinsider.com).

They offer a free program to make money with binary options.

After watching the video, where they are telling about a winning rate of 85% , I downloaded the software and installed it.

After starting the program it came up with a registration form of Cedar Finance. I filled out the form and got $500 to practice. The practice account is bound to number of trades and/or volume. That means you can do practice trade about 20 minutes to 1 hour. I locked on again with different names to get more practice accounts. All the results were outstanding.

I tried this practice accounts and came to amazing results. 700-800 Dollars in just minutes! And really 90-92% success rate!

I checked in the net and didn’t find any negative posts. Even on Youtube you can find a video about that Binary B...S... insider.

On little thing made me suspicious: when I tried out different things with practice money I saw a buy entry of USD/JPY far, far away from the current price on my MT4. It could never, ever have been so low. Not even for a second! It wasn’t that low the last 4 years!

There was only one way to find out the truth!

The next morning I paid the minimum of 200 Dollars to Cedar Finance to start with a real account. A minute later I got a phone-call from Cedar Finance who asked me if I want the bonus or not. I told them I want the bonus and a few minutes later I had $260 as my starting balance.

As several times before “The binary Insider” EA displayed on the left hand “strong” signals in different green shades and different time-frames (M1, M2 and M5).
As several times before I just clicked on this strong signals and made 10 trades. And – oops- suddenly the success-rate was down to 60%. My pre-calculation told me that it might not be less than 60% to make at least a little money!

I started another 11 trades ( in total 21) 10 winners and 11 loosers. The balance down to $226.

Here is the truth: this system is a scam. Do not try it! Don’t even think about it! They want only the best from you: your money !!!

I guess it is either ”The Binary Insider” who gets money (affiliate) from Cedar Finance or it is Cedar themselves who invented the system to catch customers.

Another thing can be seen here: do not trust any EA or Signal Provider on a demo/ practice account. Demo/practice account show you the wrong data.

I hope I could help you to save money.

Many happy trades

Jay

Those % stats in trading systems are calculated over time not in a single day. I don't really think you can judge a system just from 20 or so trades, especially an intraday scalping system with what a 5min 15min timeframe? If I was going to try out a new system like that I would need at least 1 years history and 500+ trades MINIMUM.

Although, the chances are you're probably right and it is a scam. Off market prices are telling, its likely an indication they're manipulating their feed.

In general binary options brokers have even worse reputations than fx brokers and every binary broker I've ever come across just screams bucketshop. That's why I never bothered to put any real money in these outfits.

Well, maybe it is not a 100% true. But you know, it is good to be alert. Now we know that we need to pay more attention to (https://www.thebinaryinsider.com). From my own experience, i wouldn't trust binary traders in general.

The Binary Insider SCAM continued


I made another session to show you how this looks when you make a practice session. I made about 120 trades. Only 15 of them lost.

Please see my attached screenshot


Do not use this system. You will ONLY LOOSE !!!

Many happy trades

Jay

You can see I made 'only' 958 in about 15 minutes. This was absolutely my worst session. In other sessions i stopped with 1300 - 1400 after 20minutes.

But this is pure fake and b...s...

Many HAPPY trades

Jay

Oksenboel posted:
I write this to prevent other people from loosing money

I came across ”The Binary Insider” Website (https://www.thebinaryinsider.com).

They offer a free program to make money with binary options.

After watching the video, where they are telling about a winning rate of 85% , I downloaded the software and installed it.

After starting the program it came up with a registration form of Cedar Finance. I filled out the form and got $500 to practice. The practice account is bound to number of trades and/or volume. That means you can do practice trade about 20 minutes to 1 hour. I locked on again with different names to get more practice accounts. All the results were outstanding.

I tried this practice accounts and came to amazing results. 700-800 Dollars in just minutes! And really 90-92% success rate!

I checked in the net and didn’t find any negative posts. Even on Youtube you can find a video about that Binary B...S... insider.

On little thing made me suspicious: when I tried out different things with practice money I saw a buy entry of USD/JPY far, far away from the current price on my MT4. It could never, ever have been so low. Not even for a second! It wasn’t that low the last 4 years!

There was only one way to find out the truth!

The next morning I paid the minimum of 200 Dollars to Cedar Finance to start with a real account. A minute later I got a phone-call from Cedar Finance who asked me if I want the bonus or not. I told them I want the bonus and a few minutes later I had $260 as my starting balance.

As several times before “The binary Insider” EA displayed on the left hand “strong” signals in different green shades and different time-frames (M1, M2 and M5).
As several times before I just clicked on this strong signals and made 10 trades. And – oops- suddenly the success-rate was down to 60%. My pre-calculation told me that it might not be less than 60% to make at least a little money!

I started another 11 trades ( in total 21) 10 winners and 11 loosers. The balance down to $226.

Here is the truth: this system is a scam. Do not try it! Don’t even think about it! They want only the best from you: your money !!!

I guess it is either ”The Binary Insider” who gets money (affiliate) from Cedar Finance or it is Cedar themselves who invented the system to catch customers.

Another thing can be seen here: do not trust any EA or Signal Provider on a demo/ practice account. Demo/practice account show you the wrong data.

I hope I could help you to save money.

Many happy trades

Jay

but today I just was cheated by the system. shame because it took me all of a pension ... but would like to get up. greed. I want to ask if anyone knows about the work of such a system -'The 1K Challenge'?

Oksenboel posted:
The Binary Insider SCAM continued


I made another session to show you how this looks when you make a practice session. I made about 120 trades. Only 15 of them lost.

Please see my attached screenshot


Do not use this system. You will ONLY LOOSE !!!

Many happy trades

Jay

but today I just was cheated by the system. shame because it took me all of a pension ... but would like to get up. greed. I want to ask if anyone knows about the work of such a system -'The 1K Challenge'?

Im kinda a Martingale trader. I use it on cards, ect. I double my bet on each loosing hand and i win within a few hands using the martigale method. COuld the martingale card method be used ? I have been forex trading for over 6 years.. It seems that you would need a binary signal software to identify the higher than 65% payouts.

I invested USD550 in CedarFinance and traded binary option using The Binary Insider. I started trading on 4th November, 2013. I let my computer on and went fishing with my two sons. I came back on the 5th evening. I checked my computer and guess what? There was only USD6.70 left in my account. There were 260 trade made and more than 70% were lost. In their promotional video they claimed the Binary Insider was more than 90% correct in their prediction.

I kept a print-screen copy all the 260 trade and CedarFinanve still keep my trading history.

Yesterday I entered The Binary Insider website and made a complain about their software performance. But today I have problem entering the website. I think I've been blocked.

This is the actual trade history - Page 1

Page 2. Notice the number of loses compared to winning trade

More loses.....

Profit: -603

Can you do a video screen capture with your voice explaing how you are trading with this?

sedaka01 posted:
I invested USD550 in CedarFinance and traded binary option using The Binary Insider. I started trading on 4th November, 2013. I let my computer on and went fishing with my two sons. I came back on the 5th evening. I checked my computer and guess what? There was only USD6.70 left in my account. There were 260 trade made and more than 70% were lost. In their promotional video they claimed the Binary Insider was more than 90% correct in their prediction.

I kept a print-screen copy all the 260 trade and CedarFinanve still keep my trading history.

Yesterday I entered The Binary Insider website and made a complain about their software performance. But today I have problem entering the website. I think I've been blocked.

My experience was similar. A no go zone!

I've never done video before but I'll try.

I will like to bring a suggestion for someone to try it out..........
Open an MT4 platform with EUR/USD. use your normal forex indicators and trade the signals in the binary insider manually according to the trend generated on your MT4 platform.
If EUR/USD has a sell trend, then trade only signals a put signal ............
If EUR/USD has a buy trend, then trade only signals a call signal ............

I am new to binary and going through the software i knew there are errors also but i think this should work.... the only disadvantage is that you will be on your system to launch your trades manually and in correlation with forex MT4 signals.

.............
Thanks

sedaka01 posted:
This is the actual trade history - Page 1

https://www.myfxbook.com/files/sedaka01/Binary_Insider_Page_1.jpg

can you try this............

Open an MT4 platform with EUR/USD. use your normal forex indicators and trade the signals in the binary insider manually according to the trend generated on your MT4 platform.
If EUR/USD has a sell trend, then trade only signals a put signal ............
If EUR/USD has a buy trend, then trade only signals a call signal ............