Binary Options trading is getting a rough ride of it lately. Born around 2009, by 2011 it had become a multi-million dollar industry. It’s simple premise of investing in the direction of the asset attracts wannabe Gordon Gekkos (Wall Street), actual Gordon Gekkos and those lured away from online casinos.
Despite the recent number of scams associated with Binary Options, there are still thousands of traders around the world happily profiting every day. There are also thousands more losing money which is why binary options signals companies have flourished. The lure of consistent winning signals have seen a growth of signal providers, all with varying degrees of success. Here at forexunityews.com, we went undercover to see if thier binary options signals and mentoring service really works. They claim never to have had a losing month, so we went to put it to the test.
We took up their 5 days free binary options signals offer and within two hours we received a call from Nathan Barnes, the chief educator. He explained the signals sent and the service, emphasizing FXinstruction are an independent service, not tied to any broker. There wasn’t any hard sell. Nathan explained that up to 5 signals are sent daily and I would receive a personal coaching session over skype. I said I would discuss it after the 5 day free signals.
I received two free binary options signals a day via sms. All the signals except one were in the European trading session, with one in the North American session. All the signals were in currency pairings, with the EUR/USD being the most popular. At the end of the week, I received a total of 10 signals with eight being ‘in-the-money’. The other two were losing trades. An 80% win rate would make you a good healthy monthly profit. So the next step was taking up their monthly offer.
Signing up to the Monthly Mentoring and Signals Service
You are faced with two options to sign up. Either pay $149 via Paypal, or deposit and trade with their recommended brokers. All the brokers are regulated and deposits start from as little as $100 (TopOption). Nathan phoned me after the weeks trial and after consultation we took depositing with a broker route. We signed up to TopOption, verified the account and deposited $200. Nathan gave me his skype and offered to help with the deposit process but it wasn’t needed. Once the account was verified, I sent the email to fxinstruction and Nathan contacted me to arrange our personal coaching session.
The Binary Options Signals
The signals began the next day with a 100% success rate. Three signals sent and all ‘in-the-money’. I was impressed. There was one more day left of the week and it was two out of three. Even though one of the winning signals (EUR/USD 30 minutes BUY) came in by a hair’s breadth, I was going into the weekend with a profit of $28, making $10 trades.
The following week averaged between 3 and 4 signals a day. There wasn’t a losing day. For 3 days we had a 80% win rate, 1 day a 66% win rate and 1 day a 100% record.
Week 3 saw our first losing day. Two in fact. a 33% win rate and 40% win rate in tricky trading days. An 80% win rate and a 75% win rate ensured we just about broke even for the week, but still comfortably $131 up overall.
The final week saw a 50%, two 80% days and another full house 100%.
Overall, just following the signals, making $10 trades, we made a very healthy $194 profit. We just followed the signals sent via sms and made no other trades. We missed out on two trades due to timing. Around 90% of the signals were sent in the European trading session. The rest were sent during North American markets.
Total Made From Signals: $194 Profit
Nathan was flexible with times available for the mentoring service. I chose a 10 am London time on a Wednesday and set aside an hour. We spoke on Skype and Nathan quizzed me on my trading experience and knowledge. I told him that I had tried Forex and didn’t really understand it and wanted to give binary options a go. After explaining the basics, Nathan spent 50 minutes explaining some simple strategies that I could apply myself.
We stayed in touch via skype all the month and we regularly discussed the markets and trading conditions. He was available most of the European and North American trading sessions.
I was given 2 simple strategies to use that I could go on and use myself. He offered to “hold my hand” when I felt ready to try. After being taught the strategies, Nathan offered to stay in touch on Skype and guide me through my first trades.
Using Strategy 1, 3 trades with Nathan’s help via Skype, and 17 more we made ourselves. 20 trades in total and 14 winning trades. Funnily enough two of the losing trades were with Nathan’s help!.
Strategy 2, again with 3 trades being with Nathan’s help, saw a win rate of 80% on 20 trades.
Total Made from FXinstruction Trading Strategies: $278
Total Profit: $472
Conclusion: Can FXinstruction make you money binary options trading?
Nearly $500 richer and 2 winning strategies the wiser. The end of the monthly services saw a healthy profit indeed. I withdrew the whole amount $672 without any problems and Nathan contacted me to renew the service. I was given the option of depositing with another broker and receiving further personal coaching, trying forex or paying a monthly $149 fee.
Having enjoyed Nathan’s amiable style, I appreciated his honesty and his availability. He showed patience at all times. The signals were good and generated a healthy profit. My only complaint as far as the signals are concerned, were that there were not enough of them. Nathan did explain that he only sent signals to win at all times and traded them himself. He knew his stuff. His strategies worked, his signals worked and I really felt comfortable being part of the ‘fxinstruction family’ as he calls it.
The next step was to try out the forex signals. Signals are provided by Elias Kazamias, who is reasonably well known in trading circles having conducted webinars on some big platforms like investing.com. The win rates of the forex signals as well as the binary option signals are all published for all to see. I can verify all the signal results are correct and the profit made was all withdrawn without any hassle.
So, in answer to the challenge, can FXinstruction make you money binary options trading? The answer is a resounding yes.
Stay tuned for the review of the Fxinstruction forex review.
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