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.
Software: 100% Automated
Max Returns: Up to 82%
Minimum Deposit: $250
Countries: All nations
– Sends trading signals or trades automatically
– Education centre
– Free when you use a recommended broker
– Fees are applied if you use your own broker
– Complex, particularly for new traders
– No licensing information
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.
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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