binary bots

They are all over your ‘for you’ page on Tiktok, people making dubious videos showing off their bots which make guaranteed profit margins, so do binary bots work? Should you buy them? With over 147 million views on TikTok alone, this trending con scheme should worry you!

So the scheme is pretty simple, this is how it works. I will not namedrop, but big online celebrities in Kenya with flamboyant videos and lavish lifestyles first make videos showing off, telling young people to work, and hinting at how they are making millions trading. While they don’t sell you these bots themselves, I have reason to believe they have recruited people to sell these schemes and bots for commissions. These people then make videos online with tutorials and bogus numbers and attract Kenyans who then proceed to buy the bots and ‘VIP’ trading tutorials.

I went down a rabbit hole yesternight trying to figure out what these trading bots are, if there is any way you can make money off of them, or if you should just avoid them. So, to understand the bots let’s first understand what binary trading is. It is a form of investment where you predict the direction of the price movement of an underlying asset and earn a profit if your prediction is correct. this could be anything, currency, commodity, stock, or index.

Binary Bot Trading in Kenya

So as you would expect, binary bot trading is a form of automated binary trading where the trades are executed by a computer program and not yourself. The program uses algorithms to analyze market data and make trades based on that analysis, making it a tad bit better in predicting trends than you can.

Do they work? This question is a complex one. Proponents argue that the use of a binary bot allows for 24/7 trading and can take advantage of market conditions even when the investor is unable to do so. On the other hand, opponents argue that the algorithms used by binary bots are not sophisticated enough to accurately predict market trends and can result in significant losses.

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See the problem is there may be some bots that actually work, bots that people have dedicated hours of their lives to creating and perfecting, thing is, I don’t think they are over on TikTok selling them.

Profitability of Binary Trading

As with any form of investment, there is no guarantee of profitability in binary trading, including with the use of trading bots. Some traders may be successful in generating profits through binary trading, while others may not. This makes anyone who sells you a bot not liable for any loss you end up making.

Binary Bot Scams and People Selling Them

Is Binary Options Trading a Scam?

The binary options industry has a significant number of scams and fraudulent brokers all over the world, and these are the people that are now making these TikTok videos. All of them are scams that often involve individuals or companies selling binary bots with false promises of guaranteed profits. In reality, these binary bots are often poorly designed and result in significant losses for the user.

If you see any of those people on your feed, just scroll, do not buy these bots, they will look enticing, making $100 dollars daily by just pressing a play button sounds cool, but this is not reality.

It is important to thoroughly research and vet any binary bot before using it for trading. This includes checking for a track record of successful trades and reading reviews from other users. Additionally, it is crucial to only use binary bots provided by reputable and regulated brokers to ensure a safe and secure investment experience.

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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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