Have any of you heard of binary options trading? If you’ve come across the Tesler binary options trading platform, you should beware!
I’ve not tried it and I don’t see the need to. Just watching the promotional video on their website is enough to make me cry. I’m also not associated with them in anyway, I just feel the need to release some steam ( the video is just that stupid ), hence this post is born.
What is Tesler?
The Tesler trading app is a binary options trading platform by Tesler Investments. The CEO of Tesler Investments is Steven Abrahams.
He claims that the Tesler trading system has a 97% success rate at putting out a winning trade because of their lead patterns algorithm.
You can apparently make $5700 a day with just a click of a button. Amazing huh?
Who is Steven Abrahams?
He claims that he’s been on Forbes, World Finance, BBC News and other financial platforms, which is probably just a lie. I’ve tried Googling his name and searching on Forbes and stuff but nothing comes up.
He also says that his nickname on Wall Street is Mr Midas, because he loves money and helping others make money ( this is pretty funny ).
In fact, he’s just an actor and you won’t get any results if you try to find out more about this guy.
How does this magical trading system work?
I have no idea what lead patterns mean, but in his video he says that their algorithm analyzes about 3 million market factors before making a trade. This includes the ups and downs of market prices in the past 60 minutes.
It also analyzes all the major news networks like CNN, looking for worlds like “war”, “oil price” stuff like that.
The algorithm then calculates the likely-hood of it happening again in the next 60 minutes.
All this is done in about 8/100 of a second or something like that. Sounds cool and all, but it’s all crap.
He says that it will work just as fast on your phone, PC whatever. Let’s be real here, I don’t think your phone or regular PC can perform that many tasks in 8/100 of a second.
Just imagine, 3 million market variables, scanning the news, and then using all of this data to calculate the chance of it happening again. Super computers might be able to do it sure, but your average hardware probably no.
The software is free, which Steven Abrahams stresses a lot. Of course this is probably how he reels you in. You actually need a minimum deposit of $250 to make your trades.
This doesn’t sound fishy right? Heck, you don’t even need any experience ! Just press a few buttons and the software makes your trades for you and you’ll be automatically making $5700 a day !
Wait hold on, what’s this in the disclaimer?
Common scam pattern right there. It is so typical for them to create a video throwing all the success stories at you, saying how much you can make and then somewhere in the fine print it says that the examples don’t mean anything.
I mean, if the 97% success rate is true I’d be betting my money on my own software every time.
It is obvious that you won’t make any money. To top it off, they actually recommend you to sign up with 3rd party brokers, claiming that they are the best choice.
Surely, this broker must be legit right?
Sadly the broker recommended is unlicensed and unregulated, which probably means that they will just take your money.
So really, even though the app is free, you will very likely lose your initial $250 deposit. Some people are complaining that they can’t withdraw their investment so do be careful.
To put it simply, everything is fake.
The app ( yes even the app is fake), the testimonials, the CEO, you can check out more and see their scams exposed in this Tesler review.
But can you actually make money?
Obviously no. The way they market themselves is just plain stupid. Being able to make $5700 per day, with no effort, no experience and very little initial investment is beyond too good to be true.
Not to mention that they also claim to give you money if you don’t make money. There’s just too many red flags with this system.
If binary options trading is your thing, you should find some other platforms. Also find a licensed broker.
If you plan on using a bot like Tesler ( but not a scammy bot ), a good sign is when you have control over what your bot does. According to complains you don’t really get to configure it, Tesler just does stuff automatically for you.
Are you interested in making money online?
Honestly speaking I have no experience in binary options or trading yet. However I can introduce to you another way of making money called affiliate marketing. Wealthy affiliate is a great place to start ( not a scam don’t worry ) and it’s free.
Do you anything about binary options? If you do I hope you share some of your knowledge in the comments below !