I don’t think there has been such an obvious scam lately as the BinaDroid scam. It reeks from the moment you open the websites. The disgusting part is that I am sure numerous people have fallen for it and have really had high hopes for actually winning money through this complete lie.
Product Name: BinaDroid
Niche: Binary Options Software
Spokesperson: Troy Everet
Official Website: www.binadroid.com
Potential Profit: Tens of thousands of dollars every day
Minimum Deposit: $200
What is BinaDroid
So, this guy, who is actually all you will see throughout the entire video and is the only source of information about this website and software, claims to be some sort of big shot working for leading investment companies over the last 15 years. He develops a great software for his company but they sell it, making a lot of money, and don’t give him any credit. In turn he quits and has now decided to give this software for free for the next 6 months to only 150 people.
I don’t even know where to begin with just this little bit of information. It’s so absurd. I will not even go into all of this on a legal scale as it is so wrong in so many ways that it’s hard to even describe. Simply impossible, period.
This is a binary options software that is claimed to make you a lot of money. They actually do not tell you the exact amount they expect you will make, not in a day, in a week, or in a month. He just generally throws in there you will make tens of thousands of dollars every day. Right, and I am Santa Claus. Seriously.
This is by far the cheapest scam that I have ever seen mainly because not only have they not put too much thought into it, but they have used nearly zero resources. Ok, for this guy perhaps about $50 considering his prices, but that’s actually it. They are not very good with Photoshop or video editing either because in the two videos in the website the only thing you see is just this guy’s face. There is absolutely no other information on the website, it’s just a video, you sign up, another video. Nothing more. The video does not show the software itself, doesn’t show how it works, nothing. At least the other scams put in some sort of effort to make it interesting.
Who is Troy Everet – Developer of BinaDroid?
So, this guy claims to have had over 15 years of experience in some of the biggest investment firms around the world. The last being a major firm in England that has screwed him over with a software he created for binary trading. In the end he decided to get back at them by making the software free for everyone. The software is available for only 150 people around the world and only for 6 months. From that point on after the 6 months and your feedback the software will cost new traders $2,500 per license. Complete bull.
The guy in fact does not exist. He is no one. He is an actor that goes by the name Bizbuz on Fiverr. He has done video testimonials and has played the CEO of numerous other similar scams. Troy Everet is not a real person. You cannot find any information on him online and considering his huge success you would think there would be something. Something small. But something.
Nothing more than a cheap Fiverr actor that obviously couldn’t cut it for the real thing so he sells his soul to do testimonials and lie to people for $5.
The BinaDroid Broker
The broker that you are linked to (don’t be surprised if this broker changes within a week or a month as they always do) is CherryTrade.com. He claims that they are regulated and trusted. The truth? They are neither. This is not a regulated, licensed, or registered broker. They have been around for a very short time. The most important thing, they trade over the weekends. Yes, their charts continue and you can continue to trade when the market is closed. Strange right? How exactly is that possible?
All other brokers have not only the time, but the date as well. In this case only the time is shown on their website. In the screenshot I have included my current address. I am located in Bulgaria (GMT+2). I have checked on three different websites to confirm that I am not making a mistake with the time difference as well as checked other charts to confirm that the market is closed before making these claims. With that said, what do you think their accuracy is during the week considering that they make up numbers over the weekend?
Usually, you are taken to a pop-up window above the software itself where you are connected to the broker to make a deposit. In this case you have no idea if a software even exists. It is not shown anywhere in the videos, there are no screenshots, nothing. Who can tell me if there is even a software?
Who is Behind BinaDroid?
That’s a great question. Of course, there is no transparency in the website. They claim to have 24/7 support, but in fact they are nothing more than a website that gets money for simply sending traders to sign up with the broker. There is no software, hence no 24/7 support. There is no company, hence no contact. There isn’t even a disclaimer or terms & conditions on the website.
The website was registered on February 11, 2016. Well, that goes with his story that it’s a brand new software. I can deal with that. Interestingly enough though. There are several other websites on the IP. Two seem to be ok, general websites. It’s the other two that perked my attention. These two websites are similar binary option scams. I think it’s no surprise that both of these scams are also linked to CherryTrade. Mind you, I have done a LOT of binary option software reviews and this is the first time I hear of this broker. It’s not one that you meet every day.
So, I put one and one together, the fact that they are both on the same IP address as BinaDroid, the unique similarities in the pure lack of information and just video information with paid actors, and lastly, the exact same unpopular broker. Obviously, this guy has been busy thinking up of different software.
In one of these websites I found a phone number (+49 06957801950) and after doing a quick search for it I have found that this number has been used numerous times for numerous similar scams. Overall, behind this software are nothing more than more scam artists.
Stay away from the BinaDroid if you want to keep your money in your pocket, don’t even waste a penny on it.
I have compiled a couple PDF files of transaction data from my 2 days of attempting to use Binadroid. My first day was May 5th 2016 and my second day was May 9th 2016. I did not see any patterns in the trades on the first day, but look at the times and the ITM / OTM trades on the second day. the pattern was so evident it looked too much like a third party was remotely controlling my Binadroid!
After discovering that suspicious trading pattern: 2 ITM trades, followed by 2 suicidal OTM trades followed by 2 ITM trades, and then another 2 OTM trades, and so on, and so on . . .
I say “suicidal” because I caught Binadroid, at it’s settings of the least risk, picking trades that were sure to fail! I was watching the market performance charts on another piece of software, to double check Binadroid’s accuracy as it traded automatically. The “Suicidal” part comes in when I watched Binadroid purchase a 5 minute call position while the currency pair was trading flat even for a moment, while the overall, 1 hour trend was going DOWNWARD! or the reverse would happen, Binadroid would buy a 5 minute PUT position during a flat spot in the trading of a currency pair that was heading UPWARD!