The Quick Low Down
Name: The Profit Replicator App
Price: Free to sign up, but actually you have to pay a minimum of $250 into a trading account.
Overall Ranking: 1 out of 5
Don’t be its latest victim.
Take 3 minutes to read this full review and save yourself both money and heartache.
The Profit Replicator app claims to be a revolutionary binary option trading software that will earn you hundreds of thousands of dollars.
They say don’t just take their word for it, download our app and try it yourself.
Wow, sounds amazing!
But wait, before you download the app and try it for yourself let’s look a bit closer at what you might be getting into and whether it is worth your time.
Is the profit replicator app a scam or really an easy way to riches? Make sure you read my profit replicator app review till the end and find out EVERYTHING about this opportunity before you make any decisions.
How the profit replicator app works
Once you download the app, you are promised that you are going to make a lot of money and it will change your life.
So what happens after you download the app. Well, it is going to cost you $250 to get started.
Once you fill in your contact details, you will be directed to a binary options broker page to fund your account. And the minimum amount is $250.
So what happens now to your $250?
Well, according to the sales video the app has a 100% accuracy when it comes to winning trades.
Did you know that if you can speak to professional traders, they will tell you the odds for binary options trading are nowhere close to what the profit replicator app is boasting?
If you aren’t familiar with binary options (no worries, not many people are), let’s take a step back and have a look at what they are. This will help you understand why claiming an accuracy of 100% is ludicrous at best.
So what are Binary Options?
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Binary options are where you take a “yes” or “no” position on the price of a stock or other asset, such as exchange traded funds (ETFs) or currencies.
It’s almost like a game of roulette if you are a newbie, you can only get two results with binary options – all or nothing.
So for example, you might bet that the share price of company Y will be above $20 tomorrow at 1pm, so you buy one binary call option for $100 with a predetermined pay-out for $200. This is a “call”, where you predict a price increase.
Where you predict a price decrease, this is called a “put”.
There are only two possible outcomes.
If you guessed correctly and the price at 1pm soars to $30 (above $20), then you get paid out $200. That’s $100 profit for you, awesome!
But if the price is $20 and below, then you leave empty-handed.
It is all or nothing.
So the example is just to give you some context to the claims of the app being able to win 100% of the time.
Imagine being able to tell the outcome of a roulette game 100% of the time, every single time. That could be better than a psychic.
The Scam Red Flag – Fake User’s Testimonials
If you take a closer look at the profit replicator app testimonials (apparently) in social media, you start to see the holes.
When you click into any of the above links, the links are dead and don’t lead anywhere.
And when I looked into the photo of one of the ‘industry insiders’ who provide an endorsement of the profit replicator app, it appears that they have ripped off a photo of a web developer and passed him off as a CEO of Traders Web.
Is the profit replicator app a scam?
Yes, I believe it is!
Usually if a claim of easy is too good to be true, it usually is.
I wish it weren’t so, and I wish we could all just download an app throw money into it and let it work its magic and make us millions.
Imagine, we could solve world poverty with such an app!
The SEC Warns About Such Unregistered Binary Options Brokers
Did you know that even the Securities Exchange Commission (SEC) warns of such binary option brokers that operate through Internet-based trading platforms?
These brokers do not complying with applicable U. S regulatory requirements and may be engaged in illegal activity.
So at its worst, this is app is engaging in illegal practices.
At best, trading with unregulated brokers means that if anything goes wrong, and the money you investment disappears into thin air, the SEC will not be able to investigate or get your money back.
So once your pay your $250 over, you may never see it ever again. And you won’t be able to do anything about it.
Have you had any experience with these methods?
I would love to hear from you in the comments below.
And if you are interested in generating revenue online legitimately (nothing to do with binary trading), check out my full review on this community of more than 1.3 million people.
You can even get started for free to check it out and make sure it’s NOT a scam before pulling out your credit card.