With the constant erosion of our purchasing power by inflation, many people nowadays are looking for an alternative source of income to supplement what they are earning from their 9 to 5 jobs. This is one of the main reasons why binary on any binary options trading solution that seem suspicious. In this review, we will look at a binary options signal system called the TrendXpert. To see whether the TrendXpert is a scam or not, check out our review on it.options trading has become so popular during the last few years. The flexibility and simplicity of trading binary options offer the average retail trader room to maneuver around his relatively rigid schedule. The rise in the popularity of binary options trading has also given rise to scammers coming up with all sorts of schemes to get unsuspecting traders to part with their hard earned money. To help our readers avoid these scams, we conduct in depth reviews

What is the TrendXpert?

Essentially, the TrendXpert is a binary options signal provider. It claims to be different from other signal providers in the market as it is able to produce a high winning ratio of around 84%. But from our research, we could find no supporting evidence that TrendXpert can produce the result that it claimed to be able to deliver. Instead, we discovered that the signal service is associated with 2 other binary options signal providers called Option Xpert and Option XE, the latter which is no longer in existence. They obviously seem to be connected and managed by the same individual by the name of Ben Newman. The fact that TrendXpert seems to be connected to some shady operations gives rise to the suspicion that it is most likely a scam perpetuated by the same individual.

How does it work?

Accordingly, TrendXpert works in the same manner as that of most binary options signal service providers. With a special trading algorithm, the trading system will analyze data from the market and then identify potential trading opportunities. There opportunities are then converted into trading signals which will then be transmitted to the subscribers of the service. The trading system also provided an automatic mode which traders can switch on to let the trading system automate the entire trading process.

And like most binary options signal systems, you need to register and then open a live trading account with one of the recommended brokers in order to gain access to the signal service. And while the signal service is provided free of charge, you need to make at least a minimum initial deposit of $250 before you can even begin to use the signal service. There is no demo account facility for you to use to test the reliability of the signal service. The question that we have to ask ourselves is if the TrendXpert signal service is so effective and reliable, why you have to risk your own money to find out? Why can’t a demo account be provided to test out the truthfulness of the claims?

If we were to examine the list of brokers that are recommended by TrendXpert, we will notice that the bulk of them are unregulated. This means you have no legal protection since these brokers are unregulated. While there is one or two decent brokers on the list, these brokers are well known to be provide bad service as well as being problematic. In fact Banc De Binary has recently closed down its operations due to the bad reputation it suffered from being in the industry. So the question is, if a signal provider is associated only with the “rotten apples” in the industry, what does it says about the reputation of the people behind TrendXpert?

Final conclusion

Our conclusion at the end of the day is that TrendXpert is most likely another scam. We highly recommend our readers to avoid having anything to do with them.

 

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