The AutoBinarySignals (ABS) system is owned by Roger Pierce, and is a typical provider which offers trading signals for clients (access to the signals requires the client to pay $97). The company claims to have a win rate of 80 – 100%, and this performance rate should entice a lot of people to invest in this provider. The problem is that there are a lot of things not right about this firm.
As everyone in the field of financial trading knows, providing trading signals is recognized as investment advice. This means that financial authorities have to regulate it, and the companies involved in trading have to be licensed in order to operate legally. This is the first issue we have with AutoBinarySignals, as it is not authorized by the FCA (Financial Conduct Authority). We know this because Pierce gave us a calling card with a particular address in it, and the Financial Register claims that no authorized business is registered in that address.
The next issue involves fraud, because AutoBinarySignals claims that they guarantee the returns in every trading session. Those who have been trading for a while now know that results are never guaranteed. In fact, the regulators are not allowing the licensed companies to mention that returns are certain.
Only scammers will claim this, and Pierce slyly admits this in the disclaimer, although the fine print is written in text so small, most investors will most likely miss the warning. AutoBinarySignals also claims that their spots are only available for a few investors to trade in, but this is just a ploy to create demand and force an immediate call to action to register with them.
In conclusion, your money is best invested in providers which are licensed. Do not believe in companies that make promises that seem too good to be true.