One of the most recent additions to the automated trading systems in the market has to be the Social Trader. Binary option trading is quite a lucrative investment when one uses the right system. The question you may be asking is, is the Social Trader the best choice for traders aiming to maximize income from binary options. They promise an earnings of $24,755.81 in a single week. Is this possible? Let’s review this system and see.

Is the Social Trader a scam?

The thing about binary option trading is that it is fairly a complex and technical and it was quite unexpected that a software like Social Trader can comprehend the process and actually produce accurate results all the time. The reviews that we have seen are all hyped up and honestly seem exaggerated. It is therefore inconclusive to say that the system is able to give predictions that are accurate all the time. The system is fairly new in the market and therefore it would be unfair to conclude that it is unreliable without gaining all the information. It may not be a scam but we cannot recommend it as of yet.

How much is the cost for the Social Trader

This may not be entirely new as of now as you have come across such systems which are completely free. This particular system has a counter on their website which shows that there are only 15 copies left. The developer does not charge anything from the trader, directly, but will require you to put down a deposit with one of the binary options brokers that they have approved. The brokers that they use are also fairly new in the market and our opinion is that the binary options system has high risks for one to invest as of now as the result is not very guaranteed.

The initial deposit of $250 that you have to invest is not an amount that you can just be okay with losing. If you really need to invest, choose a system that is proven.

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How does the Social Trader work?

The way the Social Trader works is by making predictions on market movements based on the market analysis it does. The systems collects previous data and basing on the history of trading associated with an asset, it establishes trends then makes predictions on whether the value will drop or rise in the future. On finding a favorable position to place a trade, it sends binary options signals to its traders. The auto mode enables the robot to make trades on its own capacity.

How to start?

1. Free sign up. There is a mandatory registration which involves filling out a form on the web.
2. Trade and make profit. This is only possible after opening an account with the approved brokers. After this, you put down a deposit and start trading.
3. Withdrawal. Profits are only earned after successful trades and which can be withdrawn on request.

Special features

The features offered by the Social Trader are very basic. Nothing makes the system to standout. It may be best suited for beginners who are only getting to learn how to trade. Our opinion is that it is not possible for traders to make huge profits from this system and this is one of the reasons why we cannot recommend it.

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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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