Is Bahama Banker for real? Can you trust the claim?
Bahama Banker is another over hyped binary options software created by someone called Harold Beckman. Just like tons of binary options software we’ve seen in the past, Bahama Banker is nothing but another trap for newbies who are new to making money online.
But first, what is binary options?
This is actually a new trading method which is high risk and high return. Unless if you live under the rock for the past few years, you probably know about forex trading or stock market trading. One big problem for newcomers into forex trading is the fact you need to handle volatility. In other words, sometimes, the market becomes very slow and sometimes it is very fast.
Binary options, on the other hand, is different. There is no need to handle volatility or such of things because you can make the money by simply choosing call or put, depending on your analysis.
Bahama Banker is obviously for newbies who are new to making money online
All the outrages income claim in Bahama Banker and tons of other related binary options software we’ve seen before are obviously geared for beginners who are new to making money online. In other words, they want a real push button software and most importantly they must be free. This is the ultimate selling point of products like these.
Bahama Banker dashboard is free to access, but not to try
If you entered the correct email address into the Bahama Banker website and also your phone number, then you will be able to access the users’ dashboard. In case you are wondering, this is how this app actually looks like:
As you can see, the dashboard is so simple and some people might get impressed with the interface. You can even navigate around the website and use the guided tour function to help you getting used with this app.
Whoever the Harold Beckman person is, obviously he is an actor
Did you think that Harold Beckman is a real person? Sorry to disappoint. He is obviously a paid actor hired by some marketers out there to promote the Bahama Banker software. In other words, he is not a real trader or investor. All the proof of income in that video are obviously a lie.
Bahama Banker recommends unregulated binary options broker, which is a red flag for us
As you can see from the screenshot above, this product actually recommends StoxMarket, which is an unregulated binary options broker. Of course, you might get a different kind of broker depending on your location.
Based on our research, StoxMarket doesn’t obtain any license. Therefore, don’t expect your fund to be safe with them. In case you didn’t know, in order to operate a forex, stock market or perhaps binary options broker, you need to obtain a real, legit license from the local government. Think about running a bank. You cannot run a bank without a real license from the government. The same goes for binary options broker.
Regulated binary options brokers will refund your money, while unregulated ones does not. Therefore, don’t expect your fund to be safe once you deposited money into Bahama Banker app and then let them trade for you.
Final verdict – we don’t recommend Bahama Banker to our readers
For several reasons, we don’t recommend Bahama Banker to our readers.
Reason #1: This software doesn’t have some kind of risk settings. In other words, you cannot set whether you can control or risk $5 or $50 per trade with this app. This is somewhat dangerous for automated software like these. If you have been into trading for 2 minutes, you should realize that there is no software that can guarantee 100% winning rate. Even if the software guarantees more than 93% winning rate, it is still unbelievable claim.
Reason #2: We don’t think that the creator of Bahama Banker knows what they are doing. While they could be investing tons of money on actors and programmers to design toe software, we don’t think that they are real traders. There is no indicators or something like that that let you figure out when to choose call or when to choose put.
Reason #3: Once your money is inside, it would be hard to get it out. Like being stated, Bahama Banker recommends unregulated binary options broker, which is a big red flag for professional traders. Regulated brokers will follow the rules and allows their traders to withdraw, unregulated ones, does not.
Reason #4: There is no way you can test the water on a demo account first, before seeing how Bahama Banker works. In case you didn’t know, there are tons of binary options brokers offering free demo accounts to their users. Even better, you can test whatever trading software that you are using first, before depositing real money into them.
What to do and where to go from now?
Always, always test your trading strategies on a demo account first, before depositing real money on the line. In case you didn’t know, a demo account is actually some kind of trial version where you will be given fake money, and see how one particular trading bot works.
Is there any trading robot that allows its users to test on a demo account first? Well, there is, but not many. We have made a research and tested a few of them and found that Option Robot is the best. Check out the Option Robot app here.