In this BinaDroid review we go deep to find out the truth about Troy Everett’s binary options signal service. Is it real? Is it fake? On the surface it’s very difficult to tell. It wasn’t until we heard one tiny part of his sales video that we figured it out.
How Does BinaDroid Work?
The founder of the app – Troy Everett claims to have been a trader and financial software developer for fifteen years. He says that he’s developed technology for some of the biggest trading houses and financial institutions in the world.
Unlike most “free” binary options trading tools, he doesn’t fill the video with overhyped profit claims. You won’t find dozens of photoshopped trades or bank statements. It doesn’t include a single video testimonial recorded by an obvious actor.
All of those factors initially lead us to believe that the service was real.
Then Troy explained how BinaDroid works.
Apparently it works on Android technology. For those who don’t know, Android is the operating system behind any Google smart phones. That includes brands like Samsung, Motorola, HTC and over a dozen others.
The video goes on to claim that Troy’s technology actively monitors what people text, type and say in real time. It supposedly does sentiment analysis on that data, and predicts which way the market will move. Because if you know what people think, you know what they’ll do.
Here’s the problem…
BinaDroid Review: The Fatal Flaw Exposed
Sentiment analysis is real, and has been shown to work in predicting markets. Some folks have even used tweets to make short term stock predictions. But what Troy is talking about doing for the binary options market is impossible. Absolutely – flat out – impossible.
Because it would be illegal for BinaDroid to monitor Android user’s speech and text without their permission. It would be a serious breach of electronic security, and would violate U.S. federal law. If Troy was actually doing it, he would be locked up.
That’s why real sentiment analysis traders use public information: tweets, forum posts, comments on news stories. These are all public data sources anyone can access.
Once Troy – or the actor playing him – said that I knew it was fake.
So I knew the promises of $10,000 months were fake.
The icing on the cake was the fake scarcity he uses.
The video states that BinaDroid will eventually retail for $2,500 or more. Only 150 people can get it free if they act immediately. After that, everyone else will be locked out.
This is an incredibly transparent “scarcity” tactic. It’s designed to trick people who are on the fence about making the $250 broker deposit by making you think the decision is urgent.
Fact: it’s not.
We Conclude The BinaDroid Scam Is 100% Fake
I’ve seen a lot of scams in the last few weeks. Most of them are a LOT more obvious than BinaDroid. That makes it especially dangerous. I could see all kinds of otherwise suspicious and intelligent traders falling for it, if they don’t know better.
Avoid this scam binary trading app.
Tell your friends to avoid it too.
Save your money!