de | cn | ru

Blazing Speed Trader Review - Is it scam or safe?

Blazing Speed Trader Review - Is blazingspeedtrader.com a good binary options robot or a scam?

RATING: 1 / 1 REVIEWS ForexBrokerz Blazing Speed Trader
Blazing Speed Trader is not regulated. We cannot guarantee your money is safe.

RECOMMENDED BROKERS

Scammed by Blazing Speed Trader? Click here!

Blazing Speed Trader is a binary options robot that promises, you guessed it, to make you rich, and fast. A 16-minute video promises the impressive AT LEAST $20 000 a day till the end of your life. Äccording to the claims, there have been days when it was producing $50 000 for each of its users. Of course, to any relatively intelligent person this sounds too good to be true. And it is not true.

 

Who is behind it?

 

It does not become clear who is behind this binary options robot. There is no information, address, or contact details. There is no clear information about the partnering brokers, but we managed to establish that one of them is Tradorax – an unregulated binary options broker, with several regulators – the Cyprus Securities and Exchange Commission, the Australian Securities and Exchange Commission and Quebec's AMF – have put it on a warning list.

 

 

This fact, among others, makes us believe that the Blazing Speed Trader robot is a scam.

 

First off, Blazing Speed Trader is obviously the new incarnation of an old scam – the Blazing Trader. The creators did not bother to fix the video. But this is the least proof.

 

 

There is the mathematician Johan Strand from the National Institute of Technology in Zurich. A simple google search reveals that there is no such entity. There is a FEDERAL Institute of Technology in Zurich. One would expect that one knows the correct name of the institution they are working in. Besides, as we have already proved, testimonial videos are easy to fake – we have seen it in our review of another binary options cam – The Retired Millionaire.

 

Then, there is the tall tale of Johan's brother Lars who was living it big in a New York penthouse, driving a Ferrari, making money from, you guessed it, binary options. Lars' algorithm, however, was profiting only 75% of the time. Yes, 75% does sound impressive to the uninitiated, but most binary options brokers promise usually promise better success rate. But here comes Johan, obviously the better mathematician, who vastly improved the computational capabilities of the algorithm and it became profitable in 93% of the trades. Now this is impressive. More impressive still, is that in the remaining 7% of the times, the algorithm breaks even through hedging. “You never lose”. How is that of a promise? Yes, we know that this is statistically impossible, but someone might believe it.

 

Then, here comes the catch: the Strand brothers want to float their company on the stock market, but need proof that their system works. So, charitably, they let 100 people from across the world to test it and “profit wildly”. The only requirement is that those lucky 100 have no experience in trading. (Because those who do, will most likely smell a rat. From a great distance.)

 

Those are the oddities in the video itself. Upon a closer look we found some other discrepancies, too. Like for example, the number of accounts. The video claims that there will only be 100 people and urges us to sign up, while we still can. But the site says there are over 5000 accounts. Now, whom do we believe?

 

 

There are also the fake claims for news coverage. Our check revealed that neither BBC, nor CNN, nor Bloomberg, let alone Harvard, have even noticed the existence of Blazing Speed Trader, let alone cover it.

 

 

 

Conclusion

 

In our opinion Blazing Speed Trader is a very fishy affair. There are way too many things that do not add up and make us believe it is a scam. As a general rule, binary options robots that make promises of huge returns and get-rich-quick schemes are partnering with unregulated binary options brokers whose sole purpose is to rip people out of their money and make their lives miserable.

 

Our best advice is to not deal with Blazing Speed Trader. 

 

The alternative

 

If you are interested in investing in the forex market, but have no much experience, probably a better alternative are the copy-trading platforms like MyFxBook or ZuluTrade. Some of the reputable forex brokers offer similar types of services.

 

Another option is the largest and most popular social trading broker – eToro. It is properly regulated by the CySEC and FCA and publishes reliable performance statistics on a regular basis.

 

 

Latest news about Blazing Speed Trader
No news about Blazing Speed Trader. Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

Traders` reviews for Blazing Speed Trader

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

de | cn | ru