TO BE HONEST, I am sick to death of the ugliness and cruelty of scam artists who mercilessly rob wonderful (but unsuspecting) people – mothers, fathers, hard workers, students, doctors, etc.
That’s why I publish reviews like this one here – to warn people and show what tricks and schemes are used against them online.
So what is the Binary Matrix Pro – a legit opportunity to make a second income online? Or is it a scam?
This detailed review will answer these (and other related) questions. I hope you will find the information that you are looking for.
[Sidebar: If you are not interested in Scams, check out THIS instead! You’re gonna like this (Yes, I am using it since 2013).]
Name: Binary Matrix Pro (aka BMP)
Binary Matrix Pro login: www.binarymatrixpro.com/lp.php
Niche: Binary Options Trading
Price: “Technically” free. Sign-up process is free. Minimum deposit is $250.
Skill level: Beginner (That’s their claim: “No skills needed” – Wrong!)
Risk Disclaimer: www.binarymatrixpro.com/riskdisclaimer.php
My Overall Rank: 0 out of 10
Full Review – What Is the Binary Matrix Pro
Below I am going to cover the following topics:
- What is the Binary Matrix Pro software
- Their big promises
- The price
- 11 signs that show – it is a scam indeed
- How to get your money back
- My final verdict
- A legitimate (and safe) way to make money online
What is Binary Matrix Pro Software
Binary Matrix Pro is a binary options signals provider that lets you trade binary options.
Binary options, if you did not know, are options that offer a fixed return. The positive thing is that they give you the opportunity to start with very little investment. The negative thing, however, is that they are all about speculation and highly risky business opportunity.
Even worse, the binary options market is literally flooded with all kind of scams – all promising you the heavens while in reality sucking all the blood out of your veins.
That’s why you should be extremely cautious when choosing which Binary Options signals provider to use.
Binary Matrix Pro is one of those signals providers. And, as I will show you in a minute, it has all the signs of a typical binary options scam.
Keep reading and you will learn quite a lot about them.
But first, let’s start with…
Their Big Promises
To make it simple, I have compiled a list of Binary Matrix Pro promises. See what they you can get from them:
- Full access to the Binary Matrix Pro software (which is 100% web-based, works on everywhere and on everything. Nothing to download or install. Perfect for people on the move.)
- BMP produces 720-750 signals every day. It takes 50-60 minutes to place about 45-50 trades every day (to make around $3,000 a month. You can trade much more if you want.)
- 80% Winning rate (8 wins out of every 10 trades on average)
- They will give you $300 of credit (enough for 2 full months) and you will not be required to use your credit card.
- Average profit around $106 per hour (!!!), with no losing days (if you follow the exact same signals that they (the owners) do on their own trading account.. If you use larger trade size, your profit can easily jump from $350 to $500 a day).
- BinaryVerify.com verification
- Email support
- Software updates
Binary Matrix Pro is “technically” free. It means, you don’t have to pay (or use your credit card) to get access to the software (this is a clever ploy to prey unsuspicious beginners, though).
Back to the price. In order to start trading within their platform, you must open a trading account in the first place.
Now, BMP “recommends” using Banc De Binary (BDB) broker (more on it below). There, however, you are required depositing minimum $250 to your trading account.
Here’s another Binary Matrix Pro trick do to lure you into their game:
They add a $300 bonus to your account (again, so that you won’t need to use your credit card).
Once your bonus credit has been used, they will sell you additional credits at 1 cent per signal.
Don’t believe their nice stuff like “We make money only if you make money..” The truth is, they actually make money if you lose.
Read how people get burned:
11 Signs That Show – Binary Matrix Pro Is a Scam
While doing my research on BMP I discovered quite a few warning signs that made me extremely suspicious (to say the least). So let me cover them one by one and see if you agree
Sign of Scam #1: Phantom Owners
Who are those behind the BMP trading software? The fact is, they don’t tell you (except the voice in the video that says he is Raul):
Well, everybody can tell you that, can’t he?
I tried to find out who is that Raul and who are his other co-founders… But they have left no traces behind.
So sad. So sad. It does not build trust.
Take a legit “make-money-online” product, you always have information about its owners. And in many cases you have a direct access to them.
The best example is Wealthy Affiliate internet training platform. It’s owners are Kyle Loudon and Carson Lim. They have their profiles – just like all Wealthy Affiliate members. Not only that. Both Kyle and Carson actively interact with other WA members on daily basis.
So… I don’t know about you but it makes me feel like these Binary Matrix Pro guys pitch me to “buy a pig in a poke.” I don’t like vague situations like this one here (especially when I am expected to give out money). So therefore, I clearly don’t recommend trusting your hard earned cash into that phantom Raul’s hands.
Sign of Scam #2: Contradicting Launch Date
That is the second fuzzy thing – in the promotional video that phantom co-founder Raul says that Binary Matrix Pro operates successfully since November 2013.
However, if you type their domain name into Whois.net, you will see that it was first registered on a Christmas Day, 2013:
So how could they successfully operate it before its creation date?
Sign of Scam #3 : Very Poor Performance
80% winning rate is one of the big promises of the Binary Matrix Pro guys. Yet when you put that claim to the test, you will discover that the real life results are a far cry from 80%.
BMP’s performance is very bad. In, fact, it is so bad that it would be unwise to invest too many hopes in it.
Let me show you some numbers:
First, the binary signals testers from the top10binarysignals.com tested the BMP software and here’s what they came back with:
As you can see, they could only manage 18% winning rate (over 2 week test period).
Here’s more to come, though.
As the testimonial shows below, even when the user got 50% success rate, he still lost money:
Here’s another disappointed testimonial (339 trades, 44% winners, 48% losses, 8% ties):
And another (14 trades, 29% winners, 64% losses, 7% ties):
The next bad trading experience (12 trades, 17% winners, 75% losses, 8% ties):
See! The whole picture is not that rosy at all, is it? So don’t let the wool be pulled over your eyes. Most probably you will never see that promised 80% winning rate.
Look at this one here too:
Sign of Scam 4# : Binary Options is NOT for Everyone
Binary Matrix Pro sales page and promotional videos are misleading.
They make you believe that trading Binary Options is easy and suitable for everyone. In their video they show you how easy their Binary Matrix Pro software is – it takes just few clicks from your part (50-60 minutes to place 45-50 trades per day) and the money will begin to rain down on you.
And if you are confused and don’t know what to do or how to trade, you can follow the exact same signals that they do on their account (all is live so you can do it indeed).
However, the fine print of their website “Site Agreement” and “Risk Disclaimer” tell a completely different story. In my opinion, these two pages are the only places in their whole website where you can find a grain of truth.
So if you ever plan to follow their recommendation, do what they tell you in their “Risk Disclaimer.”
But let’s see what they tell you in these two fine print documents:
See! It’s plain clear – Binary Options is NOT suitable for the average Joe of the general public.
Because trading in Binary Options is very speculative in nature and includes a high risk.
Sign #5 : Fake Videos, for Promotional Purposes Only
Binary Matrix Pro provides plenty of videos on its home page – all to prove their case and build your trust:
Even though they won’t promise you the heavens it is still pretty lucrative, isn’t it?
What if you could turn $500 into $1,118 or $1,039 into $4,363? Wouldn’t you take the chance?
Here’s something you should know about these videos, though. Let’s read their “Risk Disclaimer” again:
There is much more but you get the point – All these videos are strictly of informational and promotional purposes only. Actors and demo accounts have been used and they give you NO guarantee that you will ever achieve any profits.
So therefore, the you can find their best recommendation in the last sentence: “Absolutely consult your financsial advisor before ever investing or trading any financial instrument.” Period!
Sign #6 : Non-existent Support
As you can see below, Binary Matrix Pro customer service is practically non-existent.
First, they make it clear as a clear sky that they don’t offer you any advice (User Agreement):
And here is how users feel about it:
As for the customer support, the only thing they bother to give you is their support email address (which is firstname.lastname@example.org)
As you know full well, email is NOT the fastest way to contact in those situations. Beside that, more often than not, even email does not help you:
This is not the only one. Read these complaints and testimonials too:
Sign #7 : Their “Recommended” Broker is a Scam Too
The next significant warning sign is that Binary Matrix Pro’s “recommended” broker is rather shady Banc De Binary. The first alarming thing is that it is based in Cyprus (its other branches are based in Israel and Republic of Seychelles). Second, it is true that you can find both -positive and negative reviews on it – however, the Banc De Binary complaints are highly alarming!
Just few examples here:
Read also this complaint here:
Read the full story here (absolutely a must read, if you ever plan to do business with Banc de Binary broker).
Sign #3 : BinaryVerify is NOT “Neutral”
Raul, the phantom co-founder of Binary Matrix Pro, claims that their trading software is verified by a 3rd party, independent trading account verification and authentication service BinaryVerify.com.
How does it protect you?
Binary Verify logs in to your trading account (directly at your brokerage) and verifies that it is real. If your account turns out authentic, they give the account owner a BinaryVerify verification seal:
So therefore, you should be fully protected, right?
Wait a minute. Keep reading and I will show you the hidden dirty secret that they don’t want you to know.
First, this is the statement on the Binary Matrix Pro website:
So what’s the problem here?
Look at the Whois records below:
See! BinaryVerify is created only 1 month after Binary Matrix Pro. And in the beginning, even the name servers of the two sites were identical. Now they have changed them but it still smells strongly that this 3rd pardy “independent” company just happens to be managed by the exact same folks who run BMP.
If so, your protection by “BinaryVerify” is just an illusion.
Sign #9 : They Are After Your Money
Again, just to get a taste of it, read the following BMP complaints below (scams like this one here are always after your money):
Read this also:
Sign #10: Restricted Bonuses
Hundreds (or even thousands) of dollars added (as free bonuses) to your trading account easily delude ignorant beginners into thinking that money is coming with a snap of fingers.
This is far from reality, though.
What these beginners usually fail to do is read the fine print. But if they read, they would know that all these “nice free” bonuses automatically set tight restrictions to their trading account and. For example, you cannot withdraw your deposited money unless you meet some insane requirements. And, more often than not, you cannot even use that “free” bonus unless you deposit 50 times more.
So first, the “free” bonus is useless. And second, you cannot get your deposited money back. In other words, you are neck-deep in trouble.
My recommendation: There’s no such thing as a free lunch. If they offer you something for free, ALWAYS read the fine print.
Sign #11: Fake Reviews
This is what irritates me almost every time I write similar reviews. All the dirty facts (showing that the product is outright scam) are plain obvious. Yet, all these fake reviews are springing up like mushrooms after rain – all worshiping that nasty fraud, giving it a maximum score, and tooting its profitability.
It’s ugly, to say the least.
So where all these positive fake reviews come from?
To answer this question, let me explain how binary options signals providers make money in the first place.
First, they make money when you lose (as I explained above). It is a fact.
Second, they make money through affiliate programs (by referring clients to the binary options brokers).
Here’s how it goes:
The first step is to ignorant and unsuspicious beginners to set up a “free” account with them.
The second step is to persuade you to open a trading account with one of their “recommended” brokers AND (obviously) deposit money.
Note! This very important that you (their customer) use their “recommended” broker. Because these brokers are the ones who pay the commissions.
So if they can achieve that, they earn commission (sometimes from $250 to $500).
That’s how they make money and that’s why they exist in the first place.
How to Get your Money Back
Finally, if you have already fallen into their traps and want to get your money back… Well, there are no easy ways. You have to be very persistent.
I found two examples from the internet where people give detailed descriptions on their experiences and what they did to get their money back:
The first testimonial is here: Banc De Binary Cheaters and Blood Suckers (As I told, Banc De Binary is the “recommended” broker of Binary Matrix Pro scam).
The second testimonial is here: Binary Matrix Pro Review – The TRUTH! (The Warrior Forum thread) Scroll down to find BitCoinCorporation‘s postings.
Below is piece of text he wrote to the BMP scammers:
My Final Verdict
If you read these 10 warning signs I described above then you it should be obvious by now that I would never ever touch neither Binary Matrix Pro nor its “recommended” broker Banc De Binary. Both of these look poisonous products.
If you don’t want to get mugged, don’t believe their hype and 80% winning rate that they are tooting. At first they might appear as angels but sooner or later you will see their devil’s horns. And you will surely and slowly lose.
My Verdict: SCAM!!! Stay away!!!
However, if you are dead-set to learn trading Binary Options, here are some good articles to get you started:
- So, You’re Thinking of Online Trading? Here Are 4 Things You Need to Know
- Binary Options 101 – An Introduction to Binary Options Trading
- Binary Options: Trading For Non-Traders
What About You
So.. after reading the review and my findings – what do you think?
What is the Binary Matrix Pro – Is it a scam or legit?
Interested of Learning How to Make Legit Income Online?
As I explained above (with all the details), Binary Options are high risk trading opportunity which is not suitable for everyone.
If you want to learn how to make (first or second) income online, there are way better options.
However, if you are a complete novice (as I was when I started) then I suggest you to try my #1 recommendation (detailed review). The good thing is that it won’t cost you a penny to find out if it suits you.