There is a new scam had been launched this week, called the IO System (iosystem.co). Whatever income claims that you saw on the website is not even real. It is obviously targeting newbies to make money online, especially in online trading. Don’t get us wrong. People do make money online with the trading stock market, forex or binary options, but you cannot get that kind of income with IO System.
Can you believe that you will be making $500,000 per month with this system?
If you browse to the iosystem.co website, you will realise the unbelievable income claim there. There is no way you can make up to $500,000 per month with the system. In case you are curious, IO System is actually about binary options trading.
Binary options are basically about earning money in short period of time by choosing call or put. For example, if you think that the asset, let say GBPJPY, is going up after one hour, then you can choose the amount to trade, let say $25 and then choose call. Otherwise, if you think that this currency pair is going down after one hour, then you can choose put.
If your prediction is correct, then you will earn back your initial investment plus 85% from the amount invested. For example, if you invest $25, then you will earn $46.25 by the end of the time period. Otherwise, if your prediction is wrong, then you will burn out all $25.
It is actually not gambling since you can manipulate charts and the market conditions. Professional traders, whether stock market or forex will know how to use the charts and news to their advantage.
This product is being advertised as free
One thing that attracts most people when comes to trading software like this one, is the fact you can access the dashboard for free. Yes, we agree that if you sign up on the official website by using a real email and phone number, you can access the member’s area for free. However, in order to make the money, you still need to deposit at least $250 into the recommended broker account.
Save yourself the time. We have access to the member’s area by the way
In case you are wondering, this is how the member’s area of IO System looks like:
Yes, this is actually a signal system and you need to deposit funds into the recommended broker account in order to trade. It actually trades currency pairs, such as EURUSD, GBPJPY and so on. As you can see the pop-up ads in the member’s area distracts us from seeing the entire dashboard. Yes, just like being mentioned before, you need to deposit money into the recommended broker account to trade.
Do we recommend the IO System? Of course not
This system is totally a scam and we don’t recommend it to anyone who is reading this post. Don’t get us wrong, yes it is possible to make money online with trading binary options, but if you think that the IO System is a good start, then you will be disappointed.
For a few reasons:
1. This product doesn’t have some kind of indicators that you can set and trade one. In case you didn’t know, you cannot make predictions whether to call or put in trading, without a strategy or using indicators. A real trading robot must come with certain configurations, known as the indicators in order to detect whether the market is going up or down.
2. You cannot test this app on a working demo account first. Professional traders will always choose a binary or forex broker with a demo account, before putting their real money on the line. Yes, there are tonnes of binary brokers providing a trial version of their trading platform known as the demo account. In a demo account, you will be given fake money to test one particular strategy until you are confident and ready to deposit real money into a real account.
3. You cannot choose a real, regulated broker. Another problem with binary options software like these is the fact you cannot choose any broker that you like. You are assigned only one particular broker and then deposit the money.
Alternative to IO System
Professional traders rarely use a trading robot, but in case you are new to online trading, then a robot might help. We cannot find any other robot that can trade and make the money just like the Option Robot system.
Up until now, Option Robot remains as our #1 recommended trading system. And yes, you can test drive this software on a demo account first, before putting real money on the line.
Other than that, you can also read our top recommended binary options program in this post.