Now, when it comes to 10 Day Social Profits I am a little worried. The only thing that has kept me from revealing it as a complete scam is the fact that just recently I discovered some interesting discussions where there may be proof that by using this software you are not at a complete loss. Though you will most likely not reach the amazing profits they claim.
Product Name: The Golden Paradigm
Niche: Binary Options Software
Spokesperson: Charles Petersons
Official Website: 10daysocialprofits.com
Potential Profit: $800 daily on average
Minimum Deposit: $250
I have to admit, they have plenty of red flags including numerous Fiverr actors, shady claims, and well, just about everything that would turn someone off from a similar website.
What are 10 Day Social Profits
This is a binary options software that is claimed to make you unbelievable profits. Fortunately, the profits that are claimed are actually somewhat believable, though they are farfetched to say the least. Of course, it’s better than some other claims I have seen in similar websites.
The one thing that completely puts me off is the first thing you see, the blue text that claims that the profits are made with 97% accuracy which is a bit impossible. The goal of this software isn’t to attract experienced traders but rather those that have little to no experience with binary options. This is easily seen by the means of their marketing, via email blasts to individuals that have shown interest in making money online.
In addition to this, the numerous reviews and push websites by affiliates easily reveals the fact that they are in no way looking to gain peoples trust but simply want more people to jump on and invest their money. Their obvious use of stock photos, Fiverr actors, and Photoshop bank statements further proves this.
Why I DON’T Like and Trust 10 Day Social Profits
I think it’s pretty obvious that the website is made to focus on marketing rather than transparency and actually providing visitors real information. The website has absolutely no reliable information and does not give you any form of contact, real people, or anything that can be confirmed elsewhere in order to provide you further legitimate proof.
There is not one individual pictured or named on the website that actually has any real connection with this software except for either being a paid actor in the videos or a purchased or stolen stock photo.
The claims are also quite unreliable also. There is no such as a 97% accuracy with any software, regardless how innovative, new, or profitable it is. The stock market is very complicated and even the greatest minds have not been able to completely conquer it and give such high returns, let alone some guys with a software that was just recently released. If there really is such high success with this software they would not go through all this trouble to lure you to sign up.
Obviously, the goal is to get as many people to sign up with the selected broker at the time in order to get their referral fee and move on.
Why I’m Borderline with 10 Day Social Profits
Don’t get me wrong, I do not think you will be able to make the claimed profits, at least not in the beginning that’s for sure. There may be a chance that over time as the funds in your account grow and you start investing more on individual trades you may be able to start making more on a daily basis, but there is absolutely no guarantee in this.
The truth is, if it wasn’t for a recent discussion that I came upon, I would most likely pull all the stops and put my foot down that it’s a scam. Only, I did find a discussion (which seems to be gradually growing with more participants) with proof that some have actually made some profits, while others simply have not lost their money. This is actually a great sign considering that with most of the software and websites like these the results are quite different. Usually it doesn’t take more than 24 hours to lose all of your investment, while in this case there are individuals with nearly 3 weeks experience with the software that are slowly making some profit. I want to note that they are using the signals and not their automatic trading option and limiting the number of trades per day. Also, they are putting in a bit of their own experience in the trading so they are not 100% behind the software, but rather using the information and taking the signals as tips rather than taking them all to heart.
With that said, this doesn’t mean that there are few individuals that are crying out because of this software because they’ve lost their investment. My tip here is simply to not leave your money entirely in the hands of the software, but rather use it as a tool to make more educated trades. Which I think should be the case with all such software because there is never a guarantee of a profit.
The Broker and Who to Trust
Now, the brokers change regularly with software like this. The important thing to remember is to always look not only at the software and what it can do for you but also the broker they are working with. Make sure that they are registered (though there are some decent brokers out there which are not) as this guarantees that your money is insured. Also, never, under any circumstances, accept any bonuses no matter how attractive they are. Bonuses come with terms which are not revealed upfront and usually lock your money into the account preventing withdrawals until you have made a certain number of trades. This is a major problem for most people as they usually want to withdraw their initial investment the moment they’ve doubled up, not to mention that it doesn’t allow you to withdraw while you are still ahead.
How do Websites like 10 Day Social Profits Make Money?
It’s important to understand the scheme and benefit for websites like these and all others that are connected to them in order to understand why it is important to research them well before you invest. Websites like these are popping up all over the place lately because brokers are giving very big referral fees for each new trader they attract. Brokers usually take anywhere between 5% and 25% from each trade which makes their websites quite lucrative if they’ve got someone to invest. Different software websites, in turn, make a lot of money for each individual they refer as long as they are new traders with the broker.
Lastly, the other party that makes money through these website schemes are the affiliates that are also given a referral fee for sending over new visitors to the website who in turn make an investment with the broker. Overall, in most cases, the only one that does not profit is the individual that makes an investment.
Understanding the whole scheme and why it’s so important for them to attract new traders helps put things a bit more in perspective and gives you an understanding of why there are so many new “#1” software out there with various fake claims.
Understanding Binary Options
The 10 Day Social Profit software is claimed to make you big profits by means of a software that automatically trades binary options. There are various claims as to how the software actually works, but in reality it’s just a 3rd party signals app that tells you what to trade and in turn, you follow the instructions and either win or lose. They also have an automated option which allows you to sit back and the app does the trading for you.
The thing is, binary options may be much simpler than standard trading in the stock market but they are certainly not less risky. They are based on you making a prediction if a certain asset will go up or drop in price for a given timeframe. You make your investment on the given trade and select your prediction. If the asset goes up, you double your money (minus the broker fee) and if the asset goes down you lose it. In the case the asset does not change in price neither happens and you get your money back. Though it seems quite simple to do, real knowledge and research are required in order to better understand the actual fluctuations in the stock market. Only an experienced trader can really make real profits with binary options and only few software out there actually deliver on even minimal profit.
The Verdict on 10 Day Social Profit
This is yet another one of those typical websites that offers the sky and the moon but delivers only stardust. Though there are individuals actually profiting with 10 Day Social Profits, the profits are far less than what is claimed by the official website so be warned before you invest.