Over the past few months the waters have been muddied. The voice of the reviewer is being deteriorated by marketers with spoiled self-interest and it’s leading us to a potential catastrophe.
In analyzing this market over the past two years there have been many changes. One positive up until 2016 was the role of the reviewer. There were a handful of us that pointed out which systems were obvious get rich quick schemes, and which were actual strategies that can be relied upon. In 2016 there are more and more marketers deciding that they want to contribute a new voice to the arena. The problem with this voice is that it’s not coming from a trading background, and their only intention is to loudly proclaim that their promotion is best.
In the past, traders could rely on scams being exposed but now there is shroud of doubt associated with every single binary options software or signal service that hits the internet, even the reliable ones. The marketers or sharks (as I like to call them) have decided to attack every single system and product reviewer to ensure that their loud voice is listened to. They don’t test systems, and have no binary options 101 training in this market but they feel the best way to promote the software that likely provides them with the biggest affiliate commission is to attack others.
The impact of this marketing method is already apparent as the positive conversations I once had with my readers has turned quite sour. In online investing the attention span and need for immediacy is already at an all-time high. So when marketers proclaim that a system is a scam, there is an overwhelming tendency to believe that it is. When this market was first gaining steam traders would test a signal service or trading system for 1-2 months. Now, they will use it for 1-2 days and at the first sign of trouble they will head to their web browser for confirmation that they bought into a scam and then give up. It doesn’t matter how good a system is, the reviewers, the market makers, the people you are supposed to trust will bad mouth everything except what they want you to use.
So where does that leave us? Well, that puts the whole market in disarray. Traders don’t know what brokers they can trust, what binary options systems are legitimate and it’s essentially the Wild West. My hope is that this will be addressed and resolved but I have very little faith that we will see much change in this regard. My message today is to thoroughly analyze the intentions of your favorite review site. If you feel that they don’t have your best interests at heart then you need to find someone who does.