Binary Review Step 2 Wealth

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We heard about John’s Authentic Step 2 Wealth system some time back and had received questions about if it was a scam. If you have heard of the Step 2 Wealth System, then you’ve probably also found out about its purported 10K a day profit potential. However, we’ve not been able to unearth any proof to substantiate this claim.

We cannot say for sure if the system can even generate a penny daily. After thorough, unbiased research, we’ve determined that after investing $250 in this system you’ll not get anything.

One of the biggest issues we had was trying to authenticate and investigate the claims made in the Step 2 Wealth website’s promotional video. In addition, our computers browser kept warning that the website was unsafe to use.

A reverse lookup of the domain name revealed that the it was purchased a few days back despite the software claiming to being around for over four years. The layout of the website appears to be based on a cheap template which was just filled out in a few minutes. The video is phony, to say the least, and will just take you around in circles without getting to the point.

We are just not us trying to criticize something, but these are facts that we’ve unearthed after thorough research. We are trying to warn our visitors and readers about the potential financial losses they can incur if they ignore the warning signs of it being a scam.

The Step 2 Wealth Review: We expose the fraud behind the system with proof

The promotional video is of terrible quality. The quality of the video is perhaps evidence of the fact that the owner is not making $40K a day as he claims.

At least someone making that much money a day would spend good money on a quality promotional video. Secondly, Richard Williams claims that the robot helps people make up to $10k a day, which could turn the average person into a millionaire in a matter of 14 days.

No robot whether it is automated or even if it’s remotely controlled by an expert trader can make this type of money every day. The best of the best software will still require a good amount of time to start churning out a meaningful income.

Why do we think Step 2 Wealth is a Fraud?

If the claims made by Step 2 Wealth is true when it comes to making $10K a day, it would not be worth just $250. The promotional tactics used on this website are questionable at best. We know how scams work and how they work in the trading industry. The use of countdown timers for one helps to create the feeling of scarcity when in fact it just resets sometime later.

Step 2 Wealth uses a timer on their website to perhaps showcase that the slots available are limited. Plus the person presenting the offer is part of the fraud and is lying about pulling down the website or the offer once the timer runs out.

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  • Binomo

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Also, the claim that the system will not be used by anyone else except for a chosen few who have paid up and invested is also placed cleverly to lure people into a sense of missing out on an opportunity.

Poor grammar usually means a poor website

Interestingly despite all the threats of pulling out the content and removing the videos once the timer runs out we were still able to register. We used a long list of fake email address in a row all of which got us registered.

During our investigation, never did we even once receive a message that all slots were occupied. This means that the Step 2 Wealth Signals system does not care how many people register and so it’s not a so-called elite club.

We reckon that Step 2 Wealth is just a scam and they use a bunch of lies to lure people. The scam has always been easily accessible to everyone from the time it was launched. Plus they continue to accept new individuals or traders. After all, they make more money when more people signup.

The evidence trail left by Step 2 Wealth software

We were not able to find any statement by the company or a third party to suggest that System 2 Wealth was a registered broker or a trading system. No third party, independent body or regulatory body has approved the system.

So, how can you just take the word of a few actors in the promotional video? While there is no way to know for sure either way but it stands to reason that the scammers running the system have no substantial evidence of their system performing.

We found it suspicious that Step 2 Wealth system which styles itself as a secret, elite group has no mention of any license on their official website. Plus, there is no contact information. So, with no physical address, email address, a number to call or even customer support how can you trust it?

Also, there is no background information about the software or the system. We find all of this way too strange to trust. And so we wouldn’t advise that you bet your hard earned money on its authenticity.

Founder Richard Williams Exposed

We had to find out more information about Richard Williams, after all, he is purported to be the mastermind behind this system. Interestingly, we found no information about this person and their association with the binary options industry. Also, Richard Williams is a very common name and yet none we found were in any way associated with Step 2 Wealth software.

These testimonials are provided by paid actors

We were unsuccessful at finding any link between the platform and social media websites like Facebook or LinkedIn. But why is that important? Well because a system this big has to have employees, i.e., managers, salespeople, customer service, etc. all of whom will be proud to mention this info on their LinkedIn profile.

All other reliable and reputed trading signals websites and robots have very active social media pages and a list of employees. When we compared the pages of successful binary options brokers, trading robots, and other reputed systems, the differences were stark. Good systems are covered with testimonials, reviews and various questions about how the software works.

But despite the system’s ability to churn over $10K a day, we found no such information. Nobody seems to think it’s even worth discussing, which is very strange indeed!

What trading algorithm does Step 2 Wealth use?

The trading signals only become available after making a deposit

Honestly, nobody can answer this without a shadow of a doubt. Richard Williams himself may not know how it works. Interestingly throughout the presentation and the promotional video, there is nothing to suggest how the system works or even how signals are triggered. Which begs the question as to why invest in something you don’t know anything about?

We found no company history or any other information which could give us solid answers. Nothing can be found on the Step 2 Wealth’s website except for us seeing through their effort to try and make everything appear legitimate.

What we think about the Step 2 Wealth video testimonials?

The video from the get go to be using hired actors similar to those employed by the Afofee scam. We found a whole bunch of actors on Fiverr and other websites who will review just about anything for $5. So, just about anyone can make a video saying that they made millions in profits. It is for this reason that we don’t think that these people are praising the system because they made money but rather because they were paid $5!

Final Verdict – Stay away at all costs

W e have found out from our research that Richard Williams and his so called team are nothing but a group of fictitious individuals. The system, as well as the people behind it, are scammers. The video and resulting website was put together in a hurry and do not reflect the so-called professional standards that the creators boast about on the website.

Having millions of dollars couldn’t result in a more convincing presentation? If anything the answer to this is that these are cheap scammers who are trying to bait anybody desperate enough to trust them with $250. It is a scam platform which is being peddled by maybe a network of crooks. By exposing this fraud, we hope that you will remain safe!

How to Start Investing in Binary Options

Damyan Diamandiev
Contributor, Benzinga

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Open an account with Benzinga’s best online broker, TD Ameritrade. $0 commissions on online stock, ETF, and option trades plus award-winning platform and customer service.

If you’re looking for a simple way to trade and invest in financial assets, why not consider binary options? They’re easy to understand and preferred among newbies, so you’ve pretty much already got a head start in the right direction. Benzinga will help launch you the rest of the way.

Table of contents [ Hide ]

What is Binary Options Trading?

Binary traders profit from price fluctuation just like other traders, but binary options have a preliminary stated risk and profit potential. That’s why this type of contract is called a “binary” option. You get one of the two possible outcomes: suffer the risk or profit from the reward.

In binary trading, you bet if the price will be higher or lower after a certain time passes: the expiration. If you’re right, you win. If you’re wrong, you lose. When you lose, you lose the amount you’ve bet in the trade. When you win, you win around 80% of the amount you’ve bet (this depends on the broker as well).

Let’s say you believe the price of the EUR/USD will be higher in one minute and you bet $10. If you’re correct, you’ll profit around $8, depending on the broker. If you’re wrong, you lose your $10.

There’s some specific terminology wrapped with binary options. Can you sell an option? No, but you can buy a “put” option.

This is how it works:

Call Option

You buy a call option when you expect the price to increase. This means you enter a deal where you bet that the market will increase in price.

Put Option

You buy a put option when you expect the price to drop. This means you enter a deal where you bet that the price will go down.

Calls and Puts

It’s easy to understand the difference between “buy” and “sell,” and which corresponds to bullish and bearish markets. However, it might be tricky to remember the difference between calls and puts. Here’s an easy way to remember:

Imagine a phone is on a table. When you want to “call” you need to lift the phone “up,” an increase. When you want to “put” it down, it needs to go downward, or “drop.”

How To Start Trading Binary Options

Step 1: Build your strategy

Test different approaches and check which one is profitable for you. You can also combine different indicators to build your strategy. Some indicators could be:

  • Price levels
  • Trend
  • Candle patterns
  • Chart patterns
  • Moving average indicators
  • Fibonacci levels
  • On-chart indicators
  • Area indicators

These are not the only indicators available; there are many more and each of them works in a different way. Match signals from different indicators to reduce the chance of getting a bad signal and incline the scales in your favor.

Step 2: Calculate the returns

Say that your broker will give you 80% return if you guess the right price direction. You risk 100% of the invested amount, a return of 8:10. How successful should your strategy be and where is your break-even point?

Say that you do 100 trades by investing $10 in each. This means that you’ve invested a total amount of $1,000. Your strategy has a 55% success rate, meaning that you will get an approximation of 55 successful trades out of 100.

If you guess correctly, you’ll win $8. If you guess incorrectly, you’ll lose $10. Since you’ll get around 55 winners, this means you will make 55 x $8 = $440. Since you’ll get around 45 losers, then you will lose 45 x $10 = $450.

A profit of $440 – $450 (loss) = -$10 per 100 trades with this strategy, which isn’t ideal.

Here’s another test with the same brokerage conditions: 80% return on a successful guess. Let’s say our strategy has a proven record of 70% success rate. This means we’ll have 70 winners and 30 losers after 100 trades:

70 x $8 = $560 (profit)

30 x $10 = $300 (loss)

Net profit = $260

Step 3: Money management strategy

Don’t forget to factor in luck. If you deposit $100 in your account and you invest $20 in each trade, you’ll likely fail. The reason for this is that you will be able to handle only five losing trades in a row, which is very likely to happen.

It’s safe to have money for at least 100 trades. What is the chance to get 100 losing trades in a row? It’s just like flipping a coin and getting 100 heads in a row: pretty unlikely.

Step 4: Choose your binary options trading broker

Pay attention to some important rules when you choose a broker. There are scam brokers who will not let you withdraw your money, so research in advance. Good brokers:

  • Are regulated and conform to the laws of a country.
  • Have existed for a while. Scam brokers get caught and typically close after a year or two.
  • Have good reviews online. What are people saying about the broker? Can you withdraw your winnings?
  • Offer a variety of trading assets. You don’t want to have only five currency pairs available for trading.
  • Have a friendly interface.
  • Include a rich set of trading indicators. These indicators will assist in your analysis and help you build a successful strategy.

Step 5: Create and fund your trading account

This is the easiest step as long as you have the money! Follow your broker rules for creating an account. You’ll need to identify yourself and to confirm your account, then deposit the amount you are willing to start with.

Make sure you conform to the money management rules we already discussed. If you’re willing to invest $10 in a single trade, this means you’ll need to deposit at least $1,000. This way, you’ll have enough money to conduct 100 trades and you’ll be able to handle an eventual downswing.

Step 6: Execute your first trade

Now you’re ready to go! If you’ve deposited $1,000 in your account, then it is safer to invest only 1% per trade, or $10.

  • Change the investment per trade to $10.
  • Choose the expiration time of the binary option.
  • Do your analysis and apply your strategy.
  • Click “call” if your analysis shows that the price will go up or “put” if you believe that the price will go down.
  • Wait until the binary option expires.
  • Track results.
  • Repeat.

Final Thoughts

Binary options are an innovative and easy way to invest in the financial markets. Rules are simple (that’s why many traders prefer this type of trading) and there is a limited risk per trade, based on the amount you invest.

You’ll still need to conform to the well-known trading rules if you want to be successful. Build a strong strategy, calculate the amounts, manage your bank well and be smart, and you’ll increase your chances of success. A demo account is always a helpful test before jumping in with real money.

Who has tried recovering their binary funds?

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Unfortunately there are still many binary option brokers who overcharge their clients with hidden fees or unauthorized credit card transactions.

Have you been overcharged by your broker? Do you feel that your broker has committed a fraud and scammed you out of your money?

Try to resolve the issue with your broker first

If you believe you have been scammed by your binary broker always try to resolve this issue with them first. You can call them to discuss your case but it is much better to communicate with them via email or a chat window so that you will have the whole history of the conversati.

Best Binary Options Brokers 2020:
  • Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo

    2nd in our ranking!

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How To Start Binary Options Trading 2020
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