Binary options trading robot developers have increased tremendously over the recent years. There are tens if not hundreds of new binary options trading software hitting the market daily. Every new version of the software seeks to outdo its predecessors and claims to be the best.

However, unfortunately, there are more scamming binary options trading software than there is legit software. If binary options traders are not extra careful, they end up signing up and trusting his or her hard earned funds to a total scam; and they eventually loose all their savings.

It is usually a hard thing to distinguish a genuine binary options trading robot from a fraud. In actual sense, the fraud usually seems to be the better from the way it advertises itself. But with a keen eye, the trader can always be able to notice any suspicious information about a binary options trading robot. Scamming trading robots tend to exaggerate their advertisements and at times even give information that is totally irrelevant. This is the reason as to why we have done a thorough investigation of the GPS Trader to enable the trader to find out whether it is a scam or legit. Read our full GPS Trader review to find out.

What is GPS Trader?

GPS Trader is a new binary options trading software. The software is said to have been developed by a developer by the name Richard Hefner, who is the founder as well as the CEO. This developer claims that he got the idea from the concept of GPS. In real sense there is no where the special global positioning precision (GPS) is in any way associated with binary options. The only roots that we expect to require the GPS are the kinds of drones an the like but not a binary options trading robot. Therefore, the claim of the founder that the GPS helps it to be 100% efficient is completely baseless.

In an attempt to draw the attention of traders, the founder have placed a very enticing statement on the webpage. He claims that in a period of 3 months, 27 people have become millionaires. Although this may look great, the reality is that if this trading robot was really a success, more binary options traders would subscribe to it and we would be talking of thousands if not millions of traders being millionaires globally rather than just 27 people in a whole world with millions of traders.

How does it work?

The founder and CEO, Richard Hefner, claims that this robot works by pulling data from globally positioned satellites at a speed of 94/100 of a second. Although this statement seeks to show how fast this trading robot can really be, it is also worthy questioning how the satellites are connected with binary options trading/ markets. From the basics, the behaviour of the financial markets is not dependent on the satellites at all at all.

The founder also goes ahead and outlines the steps or things that a prospective user of this robot must do. The first thing is that a trader must sign up by creating a personal profile by providing his or her names as well as a valid email address. Then the trader have to download the software. However, there was some information like the process of choosing a broker that was missing.

Before being able to trade using this robot, the trader should also deposit a minimum of $250.

Final conclusion

From the scarce information obtained from the official website of the GPS Trader, we could not be able to verify this binary trading robot to be legit. There are too many suspicious points about it.
For example, the information about the developer/founder is totally hidden. Also, the algorithm behind the operation of the trading robot is not clear since its not clear how the GPS technology is being used in analysing the binary options markets

Recommended Brokers:

	Min. Deposit	Max. Returns
	$200	91%
	$10	92%
	$250	89%
	$250	90%
				All brokers >>