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The Binary Destroyer Review: Scam or Safe?

The Binary Destroyer Review: Scam or Safe?

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The Binary Destroyer (fxlearning.com) is a trading indicator for Binary options that was built specifically to work on the MT4 trading platform. The sales page tells us that that developers of this product have dealt with many binary options signal providers over an extended period of time that more table to deliver the results they were providing. They then felt that they should take their own knowledge and apply it to the markets, and provide traders with a real opportunity.

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We also learn that Jamie Palmer is the creator of the Binary Destroyer Ltd company. They are partnering with Michael Vert and their office premises are allegedly based at 259 Welland Park Road, Market Harborough, Leicestershire, LE16 9DP. The Binary Destroyer is a company that is registered in England and Wales with the registration number of 10856999. The fact that they are registered should not be interpreted as something that is a prerequisite for successful trading. There are many companies that claim to offer trading in Forex and binary options. These companies are registered but the performance of their product is awful.

As we write this review of the binary destroyer trading indicator, we will ensure that every element of the product is discussed so that you can make a better decision on whether or not this product is worth your investment. The team is also providing us with a phone number to call and a gmail address that can be used to reach their support if we are interested in speaking with them directly. In the meantime, if you would like to trade binary options, we are asking you to check out these products for the sake of your trading. They are highly recommended and the trading community has also endorsed them because of their outstanding performance.

The Binary Destroyer review

The two operators are claiming that after using their price action indicator for 12 months and gaining consistent profits using the tool, they felt that it was time to hit the market place. They are adding the following statement on their website:  “The Binary Destroyer is an MT4 template that can be used to trade both Binary and Forex from short term trading to long term trading.” Outside of these statements, there is no other information about the indicator and how it works. I would really like to know what pairs and time frames the system works on, and how they are using price action to provide trading signals.

What the owners of this trading indicator fail to provide is critical information about the software. We need this information to be able to decide whether or not the binary destroyer trading indicator is the best indicator for the trading community who are focused on trading CFDs and binary options. The team have also created a Facebook and Youtube channel specifically for this product. However, we see that there is no discussing about the strategy that is in place. What we are seeing here can be considered shallow description of the product’s strategy.

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Other than the MT4 binary options trading indicator (which is the product itself), the package also comes with lifetime support, unlimited updates, one-on-one trading, video tutorials and unlimited coaching. The price of the indicator is $100 (which is in line with the price range for most trading indicators). The software is moderately priced, and there are quite a few videos showing how it can work, but most of them are focused on promotion. Hopefully, we can get a little more information about what expiry times and pairs this strategy works best on.We generally don’t like getting involved with the system before I know the type of approach, and the type of signals I’ll be receiving. In the past, I’ve signed up with trading systems to find out that they only work with 60 second trades, and that’s essentially just gambling.

We also realize that the vendor did not specify whether or not the Binary destroyer indicator is optimized to trade specific pairs. So we are assuming that it is trading all Forex pairs and probably stock and CFDs options.

Do we have trading results to back the binary destroyer’s alleged success?

There doesn’t seem to be any trading results on the Binary Destroyer website. Considering the indicator has been on the market for approximately 8 months, we are surprised that the developers haven’t been able to keep track of their wins and losses. Many of the videos may claims of winning percentages in the 80-95% range, so we are not sure why there are no results to corroborate these numbers. Instead of trading results, the developers focus more on member reviews which come in the form of cell phone screenshots of text messages, and messages from Facebook messenger. While some of these reviews are impressive, with traders claiming to win 11 straight trades on their first day of using the indicator, there is nothing that suggests that the system can perform consistently in the long term.

At this point in time, we need to see the developers keeping track of the product’s trading performance. We need to see the profits and the losses documented and third party verified in order to trust that the binary destroyer indicator is a real performer. This is the only way to determine whether this indicator is the right product for our needs.

Should you purchase a license?

The cost of the license is within reach for most traders who want to purchase a trading indicator. But the question is why you are buying it in the first place? Without revealing the strategy of the indicator and things like trading performance, it can be very difficult to ascertain the truth. We just don’t want to use blind faith when making decisions to purchase this product.

Our best advice for you

The Binary Destroyer fails us in two critical areas; trading strategy and results. The team does a poor job in tackling these areas and we are hoping they will fix it. In the meantime, you are only safe with these recommended products. 

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