Understanding The Working Of Binary Trading Platform
In the last few years, trading cryptocurrencies and binary options have gained a lot of popularity and reputation as a way to gain profit and make an investment from trading. Earlier it was considered to be a controversial thing, and there were very few programs and trading softwares or trading bots available online. But now, the scenario has changed, and there are thousands of options to choose from. Trading software programs for automated binary options are now a dime a dozen. But when a platform or software becomes a lot popular, then there are chances that it might try to use it for taking advantage of people or traders. This is why many trading systems online are now turning out to be a scam nowadays.
Bitcoin Prime App is a binary trading platform that claims to be a legitimate platform. The binary trading system is quite innovative and designed to match with the trades of some highly professional and successful traders that have earned millions of dollars by making the trade of binary options in some years. This trading software is designed by successful experts. Here we analyze these systems to understand whether it is really worth the time and money of traders and investors or not.
Basic details about this platform:
This system is free to join and trade on. It is completely automated software. The minimum deposit required for trading here is $200. Max returns limit is up to 90%. It is a global platform available for all nations.
- This binary trading software is usually automated or controlled by robots.
- The website is user-friendly, simple and easy to navigate.
- The process to withdraw funds is extremely slow.
- In some cases, traders have got a loss of their investment rather than making a profit.
- There is no license for brakes.
- The customer support team is not quite responsive.
Overview of Binary trading systems that are automated:
These trading robots are automated and are designed by experts from the UK. He claims to be an expert trader, and the system mimics his trade style to make thousands of dollars. The software claims to be free for a limited number of users for a limited time only. The software claims that the cost that will be incurred on sign up for free is the promise to donate $1000 from the money that you make to a charity organization in the name of this organization.
But in reality, earning thousands of dollars within a span of few days is not realistic at all. Secondly, there is no trading system that is completely free of charge. There is a minimum deposit required by all trading platforms before they can be utilized. Everyone needs to use their own money to earn some more money, and this is true for any financial investment.
How does the platform work?
If you are looking to trade with these systems, then you would need to create an account with one of the brokers that are associated with the system. Then you should make an initial deposit in it, and then you get access to the system. You can use the deposited funds to start with trading. After making a profit, it is possible to withdraw the winnings and use them at your convenience. They mention that you should keep re-investing your winnings so that your profits can be maximized, and this gives the name to the software.
On investing in the software, we found that most of the brokers associated with them are not regulated. The withdrawal process is slower as compared to other platforms, i.e. it might take up to five days for this process and money to reach your bank account. Some traders might even have to wait for weeks to get their earnings.
But there are no proofs or reviews about this system being a scam. But one should invest cautiously and in a calculated manner to make a good amount of profit from the system. For beginners, it is best to start out small and then grow their investment and earnings as they proceed. There are numerous trading platforms available online, and one should check the terms and reviews of the systems before making any deposits.