I recently decided to dive completely into the Insiders Circle App in order to see if it really is all that they claim. They make some very impressive claims in the website as well as the videos which could easily lure just about anyone that has no previous experience with similar scams or binary options. Although from the moment that I visited the website I realized that this is no different from the rest, I also noticed that many people really were falling for this and believed that it really will make them the $2,000 a day that they promise.
Product Name: Insiders Circle App
Niche: Binary Options Signals Software
CEO: Matt Warren
Official Website: insiderscirclesystem.co
Minimum Deposit: $250
Claimed Daily Profit: $2,000
Cost of Software: Free
When it comes to selecting a binary options software and broker you absolutely must research them well in order to get an idea of what you are getting yourself into. There are numerous shady websites out there many of which do nothing more than take your investment, lock you out of the account, and there is no way to get in contact with them. So, making sure you stay away from these and those that simply get bad or slow signals is key.
What is the Insiders Circle App?
Unlike a fully automated app that basically has a robot doing all of the trading for you, the Insiders Circle App simply provides you with signals which you then decide whether you want to act upon. Basically, once you go through the signup process you are prompted to make an investment or else you cannot continue on to see the actual software. The minimum investment is €250 and once you have put in this investment it takes some time to get the payment confirmation and access to your account.
Steps to Getting Started with Insiders Circle:
1 – Fill in email and profile information in first and second pages of the website.
2 – Deposit a minimum of €250
3 – Wait for contact from your assigned trading specialist to set up your account (though I highly doubt you really get a call)
4 – Look for new signals to act upon and consult with the other users in the chat.
5 – Use the brokers trading page to set the specifics of the signals and wait to see if you will profit.
Once you have gained access to the platform you will be using two windows. The first is the Insiders Circle App software which consists of the signals on the left and the chat on the right. When a signal becomes available you are given the potential accuracy of this being a winning signal, what currencies, and whether you should call or put (whether it will go up or down). On the right, other users online at the moment discuss which signals they are acting upon, which one they are winning and which they are losing, etc. More or less motivating each other rather than really providing very useful information. Once you have decided that you will act upon a signal you go to your trader’s account (quickly of course so as not to miss the signal as there is a short timeframe), select the currency and select the bid.
In the video he makes $500 investments which is absurd (and even in one part claims that he has made a $500 profit when in fact it was $325. Regardless, $500 investments are VERY risky especially if you are just now getting into it. With those kinds of investments yes, you could make $2,000 every day if you are willing to risk that kind of money on binary options and mind you….their claimed 93% win rate is far from the truth as it is nearly impossible. Standard high win rates are anywhere between 70% and 80%.
Why is the Insiders Circle App a Scam?
I think that most importantly, aside from the rest of the facts I will list further down, you are not able to really see and test the software before you invest. Although you cannot do any trading without an investment you can easily review the signals and compare them against real charts. This way you can make sure that the signals really do prove the be accurate and the charts are in synch. This alone should be reason enough not to risk investing as it could easily mean that there really is no software and once you make your investment you cannot log back into the software and never get it back, not to mention forget about the amazing profits they have promised.
The second concern is that they have used Who.is privacy blocker which allows them to register the website without making any information public. Though this service is in order to prevent harassment and keep identities private it has been used widely and exclusively by scam websites to keep investors in the dark. The information that is provided, such as the phone number (also associated with Enom) is blacklisted everywhere because it seems as if it is also used as a means to harass people and promote other scams.
They have also overlooked their Disclaimer. Not only is their website up since November of 2015 while they claim the Disclaimer has been updated in June of 2015. But also they overlooked changing the website address to the scam website they had previously run: Magneticprofits.com. Interestingly enough, this website, as well, was proven to be a scam.
Of course, there are the obvious scam signs such as stock photos, images of media outlets that in reality are NOT associated with this website and have NOT advertised or had news about this website or software. The fact that the video is impossible to control, the patronizing sad stories used to convince you that he is just like you, and the fact that it really is IMPOSSIBLE to make $2,000 making even $25 bids per signal. In order to make this kind of money you would have to do 80 trades and win ALL of them. Just, whatever you do, do NOT make $500 investments per trade unless you want to be throwing your money to the wind much faster.
Also, this software has changed brokers about 4 times since it first went up in November. Currently they are with OptionRally, and they seem to have their own signals software, why would you need to go through a 3rd party system (this does not mean to jump the gun and go with them…..RESEARCH!) I have reviewed numerous positive and negative reviews to get some insight on the software itself as I cannot get past the deposit screen and realized that every 1-2 months they change brokers which is rather worrisome.
Lastly, the reviews. I am not talking about the waves upon waves of positive reviews you will find. These are nothing more than affiliates earning their money by sending over unsuspecting investors to be scammed. I am talking about forum discussions and reviews made by real users. People that have been scammed. One man made the investment in the evening and the following day by noon he was down to €1 with only 3 winning trades. He was lucky, at least he got some action out of it. Others not so much. They were completely blocked out of the software the moment the money went through. No answer to emails, no further contact, and the broker simply ignores their requests for answers.
Stay away from the Insiders Circle scam, there is no promotional video that can convince me that this is something that can give you any sort of return.