Midas Touch

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If you are interested in binary options trading, you cannot have failed to notice the increasing numbers of binary options trading systems available on the market, in particular, apps designed for traders who want to operate in the binary options market. We investigate as many of these apps as we can to give you advice on the veracity of their claims, how safe the platform is, and the quality of the offering. Below you will find our views on the Midas Touch App.

Basic information:

Cost: Free
Software: 100% Automated
Max Returns: Up to 82%
Minimum Deposit: $250
Countries: All nations

Pros:

– Sends trading signals or trades automatically
– Education centre
– Free when you use a recommended broker

Cons:

– Fees are applied if you use your own broker
– Complex, particularly for new traders
– No licensing information

7BO Verdict:

Not Reliable Service

What Is the Midas Touch App?

The Midas Touch App is a binary options trading system. It claims to help you trade in two different ways. The first is to use the app to send you trading signals based on the parameters you set. You then have to make trading decisions and execute trades. The other way it can be used is as an automatic trading bot. You again set the app’s parameters, but once that is done, it will handle all trades without your involvement.

The app also features an education center.

How Does the Midas Touch App Work, and What Does It Cost?

The Midas Touch App is free so long as you use one of its recommended binary options brokers. You can use another broker if you choose, but you will have to pay a fee.

Once you get used to Midas Touch App, it is intuitive, but it is a bit daunting for new traders. They could have made the platform simpler to use, but the process for getting started is straightforward. To get started, you have to sign up, choose a broker, make a deposit, and set how you want the app to work.

Screenshot

Is It a Scam?

We use a number of indicators when determining if an app or system is a scam or not. One of those indicators is whether it has a license. Not having a license does not make an app a scam of course. In fact, there are many apps on the market that do not have a license but are not scams. The problem is there are also many that are scams. We therefore regard having a license as a positive indicator.

Unfortunately, it doesn’t appear the Midas Touch App is licensed or approved. If it was, this would be clearly pointed out on its marketing materials and website, and it is not.

Another indicator we use is the quality of the website. At first glance, the website for the Midas Touch App looks quite good. It is modern and has a professional design. However, there is not much detailed information on how it works. This, in our view, is another negative.

Fee arrangements are also an indicator that we measure. As already outlined, the Midas Touch App is free unless you choose to use a broker not on their recommended list. This is the way most similar apps work, so its approach is fairly standard for the industry

Conclusion: Should You Use the Midas Touch App?

On most of our indicators we either don’t have enough information, or Midas Touch App scored poorly. This does not make it a scam, but it does increase the risk of using it. As a result we would recommend that you consider not using it and instead go for a platform that has more transparent information, and that is licensed.

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7 Binary Options review: Midas Touch App: 1 stars.

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John Miller

Author at 7 Binary Options

John Miller is the main author of content here at 7 Binary Options. He’s also the brand’s lead investment consultant. He’s been working for 7 Binary Options since April 2014 and brings a wealth of knowledge and experience to his role. He’s played a crucial part in developing the site and helping it grow. In his role as writer and consultant, John’s keen to help others get ahead in the ever-changing world of binary options and forex trading. He’s always happy to advise others, whether it’s complete beginners learning the ropes or more experienced traders looking for some hints and tips.

John certainly knows what he’s talking about. He graduated from California State University in 2008 with a Master’s Degree in Investments and Securities. Since entering the world of work, he’s continued to put his degree to use. He’s spent over a decade working in the investment banking sector and thanks to his foresight, skills and education, he’s in a prime position to offer help to others looking to start investing.

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