Estimated reading time: 6 minutes
Quick Summary of Trend Trader
- Rating: 1/5 and the rating is too low and not convincing enough.
- Pros: I did not identify any positive aspects about this software.
- Cons: There is a big list in this review.
- Our recommendation: Go for better options. Click here to see our list of the best signal services/auto trading softwares.
Now before going through the complete review let me give you an overview about Trend Trader so that you can analyze and understand everything clearly. Now when I visited the website I found out the owner of the software is Jonathan Miller and he gives a few highlights of his software in the introductory video.
You cannot make $1350 everyday
Now when I looked at the sign up page I came across the weirdest thing. It was mentioned that you can make $1350 everyday. I have traded for years together and let me be bluntly honest. A trader has his good days and bad days as well. If the software says that you can make $1350 everyday so this is just an exaggeration and a lie you should not buy.
If you doubt the hyped profits have a look at the current balance snapshot of one of the users.
Video reviews another scam
Now every second trading website that I come across has these video reviews that have whatsoever no authenticity. These people are paid to make these video reviews. You have to learn to decipher the truth from the lies. Money can only be earned by hard work and these video marketing strategies just prove one point and that is that Trend Trader has nothing genuine to offer and that is why they opt for such gimmicks.
Unbelievable and over hyped accuracy rates
As a trader I prefer credibility and transparency. When I looked at the Trend Trader website it was mentioned that the accuracy rate of the software is about 93 percent. You can never have a defined and precise accuracy rate when you are using a trading bot. This is yet another misconception that is being curved into the minds of the naïve traders. I have come across various such software and there is nothing to believe when you come across such high accuracy percentage.
No risks is yet another claim
Well the risks are unlimited when you opt for this software. The first and foremost reason is that you are investing your trust in a software to trade on your part. Do you really think it can mitigate risks and the answer is a big no. It just works on some pre-programmed algorithms. It cannot work as smartly as a human mind can so if you trust this software then be prepared for a loss.
Boasting of an updated database
Now this appears to be a false as well. The website claims that the database is updated every 60 seconds and has the data since 1952. If that would have been the case then experienced traders like me would not have invested years in learning trading strategies and I would have gladly opted for software assistance. The most updated database is your mind folks and the market research you do so you should not be depending upon a software to do the trading for you.
Most powerful software I doubt that
Now the CEO of Trend Trader claims that he gathered the best analysts and programmers to design his auto trading software. Let me tell you very honestly that even the best people can make mistakes so do not be carried away by the fact that an expert programmer is designing the software and trading experts are doing the analysis.
1000 traders what is the proof
The owner of the software claims in the introductory video that he has about 1000 traders onboard who are making massive profits, but there is no proof of this so you should not be enticed into opting for this software just on hearing this.
How the software works?
Now to develop an opinion about the software you need to have an idea how it really works so let me give you an insight about this. Now as mentioned earlier the maker claims that they have the most developed and updated database since 1959 and proficient team as claimed by the owner of Trend Trader. Jonathan states that the database is updated by the team. The software claims to have the ability to recognize the patterns of the best assets. The software works on the repetitive algorithm. As per this algorithm the asset movement patterns repeat in the same way as recorded in the database of this software. What the introductory video is trying to prove is that the software will only place profitable trades, but this does not happen in real. They may be having a sound algorithm, but the prime requirement for success in binary option trading is that you need information about the market.
Now I do not find potential for growth in trading the same old assets just because that is how the software is designed to work. The software can trade with assets like Gold and oil. For traders like me it is a big setback and a potential hurdle in your growth. A good trader should be able to trade with different assets and yet achieve success. Just earning profits is not the prime objective of any good trader. The objective is to learn, try and define better strategies. When you look at the graph below the maker is just trying to prove that the oil graph in 1977 is the same as 2015. This is just to convince you that you will win the trade.
Now another claim is that the software can have about 400 to 600 repetitive patterns a day. This means that the software can place about 26 trades. Please do not get caught up in this technical and factual information because these are all convincing techniques and there is no truth in them.
The bad rule
Finally I do not understand the strange rule about this software and that is you can only withdraw 50 percent of the funds and reinvest the remaining 50 percent. The big question is why? A trader should have the authority to withdraw his funds and such conditions should not be imposed. Yes, one thing to remember is that Trend Trader is not free. They will charge you $0.30 per winning trade so I do not think it is a winning situation.
There is no information about the broker that works in collaboration with the software so there are many questions that remain unanswered so avoid this scam.
Now instead of opting for Trend Trader look for better alternatives. If you are still confused then you must have a look at this page. Now what makes this page worthwhile is that it lists the best signal services. You will find all the vital information on this link. You will get to know the profits that you will earn. You can select the signal service depending upon what suits your requirements. Some of the signal services are free and some are paid. You have a choice amongst auto and manual signal services as well. The features of each signal service are also listed on the page so make your choice wisely and say no to Trend Trader.