Over the last couple of years, there has been a proliferation of automated binary options trading software or trading robots as they are sometimes called. This kind of software is especially popular among beginner traders since they lack trading experience and this kind of software is supposed to make trading even easier requiring very little human intervention to trade the markets.

Unfortunately we do not live in a perfect world and as binary options trading robots are becoming more and more popular, we also get unscrupulous individuals or companies coming out with trading systems that are designed to scam you out of your hard earned money.

To help our readers avoid getting scammed by these unscrupulous people, we conduct in-depth reviews of any new trading robot software that comes on to the market. Hopefully with the tips and information that you get from reading our reviews, you will be able to avoid getting scammed. So today, we are going to take close look at a newly launched binary options trading software called Private Profits Club. These guys have claimed that you can “…make hundreds of thousands in the next 30 days”. So are they a scam or are they for real? Read our in-depth review about them to find out.

What is the Private Profits Club

Also known as the Chrono Trader, Private Profits Club is a binary options trading software that was developed by someone called Mark. No other information about the developer exists apart from his first name. Everything about this trading system seems hush hush and that is a very big red flag.

From the marketing materials that we could get our hands on, Private Profits Club is a 100% automated trading software that claims to be able to help its users make more than a quarter million dollars every month! No trading experience or knowledge is required on the part of the trader. With the automated software working, you don’t even have to lift a finger.

How does it work?

So how do you get this software and how does it work? Well, apparently you need to sign up for an account with their affiliated brokers, which by the way are unregulated. This is another red flag that we noticed. Brokers which are regulated will never jeopardize their license by associating their company with questionable trading systems. With unregulated brokers, it is an entirely different matter since these brokers have nothing to lose or fear.

After you have signed up with one of the recommended brokers, you are then required to make a minimum deposit of $250. Next, you have to let the trading system place the trades based on the parameters that you have set into the system. From there onwards, everything is entirely automated. All you have to do is sit back and watch the money roll in! At the end of the day, it is supposed to help you trade the market quickly and efficiently leaving you free to do other things.

Final conclusion

From our observations, we noted that there have been a lot of complaints on the internet about the Private Profits Club trading software. First, the software failed to deliver the profits that it has claimed to be able to do. Secondly, many users of the software have complained that once they have deposited the required $250 minimum deposit, it is near impossible to withdraw their money from the broker that they signed up with.

Our conclusion at the end of our research is that this software is probably a scam. First of all as we have mentioned earlier, the developer is unknown. You just can’t help but wonder about all the secrecy surrounding the developer. Furthermore, there is practically no technical information explaining how the software actually works. Most the things that we know about this trading system are mostly based on marketing hype like claiming to be able to make hundreds of thousands of dollars within a month. And in our all experience in reviewing trading software, we have never come across any automated trading system which has been able to generate the amount of profit as claimed by Private Profits Club. Our recommendation is to avoid signing up with Private Profits Club as you are more likely to lose money than earn a profit.

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