The binary options trading and consequently the binary options market have been expanding in recent years and consequently, many people have attempted to create the software that would enable binary options traders to become more successful in that regard. Since the very trading of binary options is based on the technology, it seems logical to think that some people may actually come up with the idea to develop a software that will make the process of trading with the binary options easier and more successful.

This binary options software or as they are also called, binary option robot, is the software that according to the definition should make automatic transactions for you and in that way trade on your behalf. However, rarely anything works according to the definition and because of that we often hear about the negative experiences that the users had while using such software. One such software is the Mirror Trader that according to the according to some reports can make more than 47 thousand dollars in only one month. However, is that really true or is it just another scam in the sea of binary options software scams?

What Is Mirror Trader?

Mirror Trader is one of the binary options robots or a software that was developed in order to provide better opportunity for the traders to earn more money. Mirror Traders should enable traders to make the buy more successfully and more profitably. However, it seems that Mirror Trader Software is doing much less than what was advertised. Even though we know the name of the man who developed this software (John Harrison) we still cannot say for sure that this binary option robot is not a scam. In researching whether or not Mirror Trading is a scam we decided to check the credentials of the creator. However, that was impossible. Even though it was stated that John Harrison previously worked as an analyst for the government and the Wall Street, we were not able to verify any of this information.

For the very presentation of the software, we can see that what John Harrison is talking about has hardly anything to do with the trading of binary options. Instead, what John Harrison is talking about in that presentation can be related to the Forex and not to the binary option trading. Besides that, when we take a look at the people that have already been registered to the site, we can see that the same people are registering on many different sites that sell robots for binary options trading. For this, we can see that the profiles of people on this site have been taken from other sites and blatantly copied.

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How Does It Work?

One of the starting selling points for this Mirror Trade is the speed on which this software is operating. This binary option robot is operating on the OC3 connection which is actually nothing new but rather an improved version of the OC192 connection. The speed that seems to be the best feature of this robot is used in order to collect the data about the market and any other relevant data in a record time. According to the promotional material, this, fast ability to collect the market data is actually enabling this software to auto-trade and to secure the winning trades for the user.

However, even though this sounds very impressive and potentially very successful, nobody has yet proven that this binary option software is actually operating on this basis and that it enables the users to do what the promotional material actually says. Besides that, the claim that this software is providing 100 percent risk-free binary options trading seems to be very unsubstantiated and hardly provable.

Final Conclusion: Is Mirror Trade a Scam?

Even though the promotional campaign indicated that this might be a serious binary options trading software, those who actually attempted to use the Mirror Trade software saw that this software is everything but useful. With the obvious fake profile of the registered users and with the lack of ability to prove that the operating information is true, this, Mirror Trade binary option trading software seems to be a very well conducted scam.

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