Estimated reading time: 5 minutes
Are you overpowered by the thought that there is a major dearth of reliable binary bots? Well, you are not wrong in this regard and the real issue is that the market is full of trading scams. However, you should not let this idea worry you because you will find reliable bots as well in the market provided you do a bit of research. Here we will make things a bit easy for you by unveiling a major trading scam by the name of Legit Broker which is a binary options trading system that claims to be making use of the best brokers. All you need to do is go through the complete review of this binary bot to know all the details you need.
Now when we visited the website of Legit Broker, then we were truly taken a bit back. The reason is that the site lacks the basic insight. We felt that the necessary details were not there to convince you that you are moving in the right direction and this is what made us pretty apprehensive. They present the process of joining to be pretty simple. You need to start with joining and funding your trading account. Next you can move to auto trading. However, we feel that this can seriously hamper your learning curve. Moreover, Legit Broker fails to offer any educational material on its respective website.
Now we feel that it is quite easy to list down the names of the best brokers on the website. However, it is quite difficult to prove whether Legit Broker is actually making use of these brokers or not. Currently, the system claims that they offer both auto and manual trading. However, we feel that things are not as simple as presented.
If they truly offer both the facilities, then a demo should have been able available in this regard to prove the point. When you have the access to the demo, then you can figure out yourself if a system is really worth it or not. This system claims that they periodically test the brokers. The question is how. A clear approach should have been presented in this regard.
Next this system claims that they have speedy withdrawals. Well, the reality can only be found out after trying out the system. Now Legit Broker claims that they offer an excellent customer support. However, when we did our bit of research we noticed that the communication options are quite limited when you decide to opt for this platform. All you can do is send an email to the system. Now there is no surety about the fact whether your email will even get a response from the support side. The live chat facility is also not offered by Legit Broker. This was yet another factor that was enough to make us quite apprehensive.
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What we found more frustrating is that the video has a voice over. This means that no one is really taking responsibility of this system and this should be enough to make you upset that you are making the wrong choice when it comes to selecting a trading system. Legit Broker lacks online presence as well. We could not get our hands on any Facebook page related to this platform as well and we strongly believe that it is a reason to worry. The reason is that when the social media presence is there, then you can trust the platform with immense ease. However, it is not the case with Legit Broker.
Another element that we found pretty disturbing is that when you make use of Legit Broker and go for a registration, then it compels you to make a new broker account and you cannot continue with the old one. This means that you have to give an additional amount of $250 when you open up an account with this platform and this is what makes this system quite a bad choice for the traders.
Apparently this system claims to be making use of two trading strategies. One is Trend Trading and the other one is Stoch Trading. The Trend trading strategy seems to be working on the principle of moving average. Now as per this strategy when the price is greater than the moving average, then the asset is assigned an upward trend. If the price is lower than the moving average, then the asset is assigned the downward trend. However, we could not find any verifiable proof how Legit Broker puts this strategy to use.
This binary trading bot seems to be making use of another strategy as well that is Stoch Trading. It seems to be making use of the Momentum Indicator. However, this concept is quite difficult for a new person to understand and we feel that there should have been some more elaboration in this regard to make things simple for the trader.
The worst part we found about this system is that we could not get our hands on any information related to the CEO of the system. You cannot just go with a trading bot if no one is willing to take responsibility. We could not find any testimonials on the site as well. This is what made us feel that this system has not really been tried out by any authentic traders. This is why we strongly discourage the use of this trading system by all means.
Verdict: Legit Broker is a Scam!
Fake website: legit-broker.com
We encourage you to make legitimate choices when it comes to binary trading. This is why Valforex is dedicated to providing you information about scam bots and facilitates knowledge about reliable binary signal services. This is why you need to use your discretion when selecting binary bots to avoid losses.
Pin your hopes on Valforex and trust the information you get about binary systems.
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