We have been reviewing and assessing binary option brokers that allow you to trade binary options for many years, but even we have been surprised at the growing number of solutions available. The problem is that for one good and honest platform, there are several that are bogus. What about Exchange Traders? Read our review to find out.
Software: 100% Automated
Max Returns: Up to 88%
Minimum Deposit: $250
Countries: All nations
– Automated trading signals
– Website is attractive and easy to navigate
– The Software is not free
– Traders have limited control of the system
– Unreliable customer service
– No Demo Account Available
Not Reliable Service
What Is Exchange Traders?
Exchange Traders is a fully automated platform for trading binary options. It is web based and easy to use, plus it saves you time as you don’t need to study markets; the platform handles everything.
How Does Exchange Traders Work, and What Does It Cost?
Exchange Traders costs $99 for your first month and $149 per month thereafter. This makes it different from most other binary options platforms, which are available for free. After you pay the initial fee and sign up for the monthly subscription, you must open a trading account with one of Exchange Traders’ recommended brokers. Most other platforms give you the option of using your own, but Exchange Traders doesn’t.
Once everything is set up, the Exchange Traders algorithm analyzes the market and makes predictions. There is a limited list of binary options available to trade compared to other similar platforms.
What Are the Claims?
The platform is completely automated, and it claims it is 80 percent accurate. In other words, it will make correct trading decisions on binary options 80 percent of the time.
Is It a Scam?
The prediction that Exchange Traders gets 80 percent of its decisions correct is hard to believe. It doesn’t stand up to normal mathematical models or scrutiny. Apart from this claim, there is no other proof offered by Exchange Traders.
Another thing that concerned us about Exchange Traders is the testimonials published on its website. Normally, testimonials are a positive indicator. They are stories and comments by real people that back up at least some of the claims made by a company. The testimonials we found on the Exchange Traders platform, however, were suspect. Obviously we don’t know if they are real or not, but the appearance of authenticity is as important as actually being authentic. In our opinion, Exchange Traders’ testimonials don’t have that appearance of authenticity.
Does all this mean it is a scam? Absolutely not—Exchange Traders may be a perfectly genuine platform that delivers some or all of what it promises. While we would never call it a scam, big questions remain about the hard-to-believe accuracy rate and the hard-to-believe testimonials.
Finally, the requirement to set up an account with one of Exchange Traders’ approved brokers also concerns us. The brokers we could see on the list were not familiar to us, so we have no way of judging their abilities. Again, this doesn’t make it a scam, but it does raise further questions.
Conclusion – Should You Use Exchange Traders?
Exchange Traders might be a genuine platform for trading binary options, and if it gets even close to the 80 percent accuracy it claims, it could be profitable. There are too any questions and concerns for our liking though, so we don’t recommend it.
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