Day Trading Coach Logo

Day Trading Coach News
12/24/13
Free ebook:
How I Made $2,000,000 in the Stock Market

12/09/13
Forex Trading Pro System


10/26/13
How I Made $47,692.27 In A Single Day


10/04/13
The Subtle Trap of Trading


09/27/13
Learn How To Day Trade Stocks Online


09/26/13
The Psychology of Price Movement


Find us on Google+


Binary Matrix Pro

Binary Matrix Pro Review

Binary Matrix Pro Download

Binary Matrix Pro Performance

What are Binary Options

60 Second Binary Options

Binary Matrix Pro USER REVIEWS - The TRUTH about Binary Matrix Pro!

It's hard to find Binary Matrix Pro User Reviews from REAL USERS of the new binary options signals software that tell you the TRUTH about Binary Matrix Pro!

Binary Matrix Pro User ReviewsThe reviewer attempts to including all vital useraspects in addition to the complete binary matrix pro review so that readers can learn everything about the software. He starts his review discussing about the software download when he receives warning during the installation. Since his purpose was to review the software, he continued with the download and installation. But he maintains that such a warning may deter many users from downloading the software.

Binary Matrix Pro User Reviews - Negative

The review was published with the objective of giving you unbiased information about this binary options signal software.

The system was recommended to me by someone who I had great respect for, so at least thought I should look at it:

In brief , binary matrix pro is a signal service for trading 60 second binary options for 6 currency pairs which they state has an 80%+ success rate.

To try to prove the signals accuracy by what they call "social reporting", whereby each subscriber has the ability to report the outcome of a trade, and amalgamated results are displayed on the dashboard in real-time.

Each signal is paid at the rate of 1 US cent whether it is taken or not, but remember the signals may come quite frequently. Initially a free bonus of signals is given to try the service, so the upside is that as long as you stay away from alive account it does not cost anything to test.

Before Binary Matrix Pro will send you a link to the dashboard software you must open an account with one of their specified brokers and fund it, which they check has been done.

My broker told me that Binary Matrix Pro had an affiliate arrangement with them so that Binary Matrix Pro also gets a percentage of each trade that you make, but I guess that it obvious anyway.

Now the fun starts:

Binary Matrix Pro User Reviews - The software…

The software is available as a desktop download, web based, and an Android App. I tried the download first.

McAfee sent me some serious warnings about downloading (which never happened before). I decided to continue anyway.

When I tried to start the dashboard MS runtime warnings were generated. I contacted Binary Matrix Pro support and they said that they were aware of technical issues and would be fixed later that day.

5 days later and I still could not get the software to run. I tried to log into the web based version. The screen just went blank. I contacted Binary Matrix Pro support again and they said that they were aware of technical issues and would be fixed soon. 5 days later and I still could not log in.

I did manage to get the Android app to work, BUT… Straight away I could see that not all the 6 pairs traded were available on my broker platform, WHICH Binary Matrix Pro RECOMMENDED!! They said that the pairs offered by my broker varied throughout the day .

I found that through most of the day there was 1 pair or 2 pairs not available on my broker platform. That meant that I would be paying for signals which I could not take!

Binary Matrix Pro User Reviews - The Trading…

The user critically maintains that after facing such issues, any trader will avoid using the software. However, he decided to trade by opening a demo account to evaluate the efficancy of the platform.

Already suspicious I decided not use real money but just watch a few trades. The success rate did not seems anywhere near 80% so I opened a demo account.

Now a new bug in the software materialised: It is necessary to get the trades in as quick as possible, so I sat with fingers quivering over the keyboard and turned on the audio alerts. However, I found that audio alerts for the USD/JPY pair were in fact for the EUR/USD on the dashboard ??

This happened about 70% of the time, not ALL the time, which is very curious. I contacted support at Binary Matrix Pro but they never responded. Probably another bug they cannot fix.

If you do not understand binaries you need to know that if you lose you loses 100% of your stake but if you win you win 65-70% of the stake in this particular brokers case. If you do the sums you will see that you need to win 60% of the trades just to break even!

During my first trade session of 2 hours I must have received about 40 signals. The win rate was about 30% – a very big loss.

However, it was getting late, towards the Asian session, so I decided to give it another go the following day.

I traded for 5 hours in the UK session. The win rate this time was better at about 50% – still a big loss though and nowhere near the 80% Binary Matrix Pro states.

The following day I traded binary options again in the uK session for 3 hours and 2 hours, the results were 50% and 39% - again a big loss.

One feature I should comment on is the so called “social reporting”. I frequently noted that my losing trades were reported as wins on the dashboard. Although it is of course possible that results of individual trades may vary between different users, results averaged over a reasonable number of trades, say 100, should give the same figure – that is only simple statistics.

At one stage a signal came through for GBP/USD which luckily was already on the broker platform and I was staring at the price graph when the audio alert came through. The signal was for a CALL trade but at no point for a minute or so before the alert or several minutes after did the price rise above the signal price.

In fact over the 60 second trade the price fell by 5 pips which is a massive amount in that time period. Guess what ? According to the social reporting 82% of traders won that trade. It is beyond question that when a price falls 5 pips in a 60 second period it is impossible for a CALL trade to win!!

You can draw your own conclusions about how honest the “social reporting” feature really is.

Well I have tried to be polite in this Binary Matrix Pro Real User Review but find it kinda difficult to refrain from profanities...

Review by Szendro

Binary Matrix Pro User Reviews - Positive

Despite the first user review which was rather negative there are also quite a nummber of positive reviews, or comments...

Just finished my trading session with Binary Matrix pro. I had 13 winners out of 20 signals trades, which is not really great but it is not a losing position either. I checked their trades and their results were more or less the same and matched mine. I will continue testing binary matrix pro for this week and then I guess I will make a conclusion about the system.

Positive Comments:

So far so good. I did not get 81% Winners BUT I made money so far. Let’s see how it continues. Too early to tell…

Binary Matrix Pro Support Review

A good number of users had problems contacting the binary matrix pro support to solve issues like registering their binary matrix pro license.

Here is an example:

User Larry: I open account with GT Options funded it, I received the Binary Matrix Pro software and installed it, filled in all the required fields and got this message: (License Expired or dose not exist. Please contact our support team at support@binarymatrixpro.com to check how to extend it) The problem is, if you try to contact the binary matrix pro support, there is No such support at that email.

Support Problem solved - made money...

I had the same issue Larry had. However, I contacted the binary matrix pro support and they responded and it was all sorted out by the evening. I used it today for the first time and I Made Money. I will continue to use it over the coming days and see how it performs. But contact binary matrix pro support. They DO respond.

Will you try Binary Matrix Pro after reading these reviews?

 

Please visit the CFTC and investor.gov for more info about common risks and fraud related to binary options.

Do NOT trade binary options with money you CAN NOT afford to lose!

 

U.S. Government Required Disclaimer - Commodity Futures Trading Commission. Trading financial instruments of any kind including options, futures and securities have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the options, futures and stock markets. Don't trade with money you can't afford to lose. This training website is neither a solicitation nor an offer to Buy/Sell options, futures or securities. No representation is being made that any information you receive will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results. Please use common sense. This site and all contents are for educational and research purposes only. Please get the advice of a competent financial advisor before investing your money in any financial instrument.

NFA and CTFC Required Disclaimers: Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of experience and risk appetite. Do not invest money you cannot afford to lose.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAN ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

EARNINGS DISCLAIMER: EVERY EFFORT HAS BEEN MADE TO ACCURATELY REPRESENT THIS PRODUCT AND ITS POTENTIAL. THERE IS NO GUARANTEE THAT YOU WILL EARN ANY MONEY USING THE TECHNIQUES AND IDEAS OR SOFTWARE PROVIDED WITH THIS WEBSITE. EXAMPLES IN THIS PAGE ARE NOT TO BE INTERPRETED AS A PROMISE OR GUARANTEE OF EARNINGS.

Copyright 2014 DayTradingCoach.com

contact / disclaimer / privacy policy