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Binary profit cloner is a new binary options software that is expected to make $200-$1000 a day on autopilot by Andrew Bateman. Do I believe that this system actually provides these type of results, probably not but read on to find out if there is any potential.
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Binary Profit Cloner Review
The binary profit cloner works like many of the popular Forex cloning systems in that Bateman claims it copies his exact trades. The system is placed in the meta-trader expert folders and then is loaded onto the chart.
The strategies that this developer uses to find signals is not discussed. I am a little confused with how the software actually works. I understand that the system uses meta-trader four but I don’t know where the automatic trading is involved. This is something that I will obviously have to look into further, I was hoping they would have some sort of a video demo by the only video they have shows Bateman supposedly logging into a $500,000 options account. This doesn’t interest me.
Binary Profit Cloner Results
When it comes to results for the binary profit cloner we have the video and of course there are handful of screenshots. In the past I’ve told you that I don’t trust screenshots, I still don’t but I will show you examples of these anyways.
The one thing we can tell from this image is some of the assets that Bateman trades. Let me just list a few of them now:
- EUR/JPY
- AUD/USD
- Gold
- Silver
- USD/CAD
- DAX30
- GBP/USD
Binary Profit Cloner Conclusion
At this point in time I am not going to give an official recommendation to the binary profit cloner software. At this point in time is too early to really tell if this is a winning solution or not. It will be a good idea to check back in on the software and a couple months to see if it truly provided any benefits.
If you have anything to add to the binary profit cloner review please leave your comments below, I appreciate it.
does this system rely on real people controlling the trades or only relies on computer calculous?
I wrote support:
message: Greetings! looks very interesting. 2 questions:
1) the majority of the trades you display are 60 seconds. If I have to approve
each trade, how is there enough time for the signal to reach me, then I
must approve, click OK, then signal goes back to broker and trade is
placed? 2) can I execute with my existing broker? I am very
happy so far with them and i have not heard good things yet about Cedar.
Thanks,
Support sent this reply which includes some confusing comments about stop losses and other elements incompatible with fast fast trades:
Hello,
Thanks for contacting us. We are always here to assist you.
The software does trade semi-automatically for you (as the user) and
the software connects with auto binary ea. Please take note that you
cannot let the software just “run”. The software gives signals when its
best time to trade and when you get the signal “trade now” you need to
click on a button and the software does the trading for you. 🙂
You don’t have to sit by your computer all the time. You will get
notification sound when there is some new profitable binary signal
available. If interested, you can open trade in them. Once you have
opened trade, you can see real-time changes in prices and take necessary
actions. If you decide that you have to leave then you can assign a
stop loss and take profit limits to your trade so when your trade
reaches that point, it will automatically end. You can withdraw your
money anytime you want. The processing takes less than 3-4 days.
You can only use Cedar with the software.
Hope this helps. Please let us know if you have any other questions. 🙂
Best regards,
Mary-Jane Wellington
Customer Support Team
My concerns are more with the profitable claims than the technology. From the technology side, you need to download the EA and load it on your metatrader platform (I fully expected a constraint as Marlo mentioned – you have to use their broker – no doubt a kick back deal too). You’d then need to leave your computer running all the time the markets are open (or use a VPS service) and the EA would listen for trade signals and execute the trade on your account. You may run into firewall issues getting it work and I would sincerely hope that the EA takes your account size into account.
He claims to earn between 60%-100% per MONTH! You can imagine the kind of risk he’s taking with your money! Conventional money management principles recommend only risking 2% of your account on each trade. He doesn’t say how often he trades – given his claim that he’s doing them himself, that would be a TON of research.
I’m not convinced.
I watched the presentation…but I still dont get how the ea actually places a trade in my acct. But he seems adamant that this is the case and the client has to do nothing. If the ea is in my MT4…how is it going to place a trade? I will be interested in your finding.
If you read the whole thing, it states that it is not an EA.
It also claims to be on autopilot. Do you have any information on how this is automated John?
To quote the author “So basically, it’s both an EA and Signal Service at the same time!” But thats beside the poin……how does the “thing” place a trade?
You have to open an account with Cedar Finance first, that’s what they use for their datafeed which was not revealed in their sales page.
I think a requisite of this nature certainly should be up front.