The Profit Magnet has been launched a few years ago, but then it has been relaunched this week. Just like other binary options scams that we’ve seen before, the Profit Magnet software is being advertised as free, but in order to see how this software works, you need to deposit at least $250 into the recommended binary options broker, and we don’t recommend it by the way. Let us dissect one by one on how the Profit Magnet software looks like.

A little bit about online trading and binary options trading
Binary options trading is a new form of online trading which took place back in 2014. Unless if you live under the rock, you should understand the term stock market trading and also forex trading. In stock market trading, you need to buy one asset when you think the asset is going up. And then, sell the asset when it is going down.

In binary options trading, you need to pick one decision. For example, if you think that one particular asset is going up, let say after one hour, then simply choose the amount that you want to trade and then choose call. Otherwise, if you think that the asset is going down, then choose put. If your prediction is correct, then you will be paid back all your money + 85% of profit. For example, if at the beginning of the trade you choose to trade $10, then if your prediction is correct, then you will be paid $18. Otherwise, if your prediction is wrong, then you will lose all $10.

Can anyone make $200++ per hour with the Profit Magnet software?
The short answer is: We will be surprised if you can make that kind of money with this software. Like being mentioned, binary options trading is risky, so it will be hard for anyone to earn that kind of money. Plus, we don’t think that whoever created this software is a real trader. But more about that later on.

Is the Profit Magnet software (www.profit-magnet.com) free to try?
It is actually free to access, but not to try. Yes, you can access this software for free, that is by entering your name and email into the website. But then, you still need to deposit money into the recommended binary options broker and we don’t recommend that. In case you are curious, we actually have the screenshot of the member’s area of Profit Magnet (www.profit-magnet.com).

The pop-up ads distract us from seeing the real member’s area of this software, but as you can see, this is actually just a signal service. You will be given a signal after certain time period based on percentage.

Why we don’t think that the creators of this product are not even a real trader
The reason is simple: A real trader must know what they are doing. In other words, the signal must be based on certain calculations, such as indicators, or perhaps news results. Real traders will usually trade based on indicators of charts, like candle stick chart, moving average and so on. Too bad the Profit Magnet software doesn’t even have that kind of feature or indicators that traders can rely on. In other words, while the creators of this app could be good software developers, they are also not even real traders.

We were assigned to Plus Option, which is not a regulated broker
In case you didn’t know, there are tons of unregulated binary options broker out there. Professional traders always choose a real, regulated binary options broker. In other words, the broker must mention the license numbers of their company right on their about page. Regulated binary options brokers will usually have some kind of demo account to traders before any trader can deposit money into the broker. Unregulated binary brokers don’t. We don’t know about you, but in our case, we were assigned to Plus Option, which is not a regulated binary options broker.

Verdict – Save your money, save your time
We don’t recommend Profit Magnet app for 3 reasons:
1. There is no trial version of this product. While it is being advertised as free, Profit Magnet is not really free to try. In fact, you need to deposit money into the broker account in order to see how this software works. Otherwise, you cannot see the signal, and let alone test this program on a demo account.

2. It recommends unregulated binary options broker, and this is a bad idea. You might not know this, but there are so many cases that people cannot withdraw back their fund with unregulated binary options broker. In fact, our readers keep searching on Google trying to figure out how to withdraw their money back once they are inside an unregulated binary broker.

3. It is not created by real traders. We doubt that anyone can profit from the signal service being mentioned on the website. That is because we don’t think that this product is created by real traders. While they could be very good at programming and video creation, but we don’t think that whoever creating this Profit Magnet software know what they are doing.

What if I still interested in binary options trading?
The short answer is: Please, find a binary broker or system that can be tested on a demo account. In case you are new to online trading, all legit forex and binary brokers provide a free trial version of their trading account, known as the demo account to all traders.

In a demo account, you will be given thousands of dollars of fake money so that you can test the robot or strategies for a while before you are confident and 100% ready to put real money on the line. Once you are ready, then you can switch to a real account and then deposit real money into it.

Alternative to Profit Magnet software
We have done our research for almost a year, and find out that Option Robot is the best system for trading. The reason is simple: We know that Option Robot works and whoever created this system know what they are doing. In other words, we 100% think that they are real traders who really want to help.

Don’t take our words for it. You can visit option robot website to test this system on a demo account first. No need to deposit money until you are 100% ready. Or you can also read our optionrobot.com review for more details.

The fact that you are looking on the internet for the Tesler App review, means that you are not aware that this is actually a scam. Tesler App 2 (tesler-app.cc) is just another rebranded version of the TeslerApp software. We had exposed about this software a few months before to our readers in this post

This week, this software had been released again to the web, and before you fall into a binary options scam, we want to warn you that this product is not going to make you money, let alone $237 per hour like being mentioned on the website. 

How the Tesler App 2 works?
You might already know this, but the Tesler App 2 (website is tesler-app.cc) is actually about binary options trading. This is actually a real way to make money online, because yes, by using binary options broker, anyone can earn money by simply choosing call or put. 

While people who can make a ton with binary options do exist, but there is nobody that can make money with the Tesler App 2 software. The reason is simple – because this software doesn’t provide you any real signal plus it is recommending an unregulated binary options broker. 

Want to see what’s inside the Tesler App?
In case you are wondering, we actually have access to the Tesler App 2 software. Yes, like being mentioned on the website, this software can be accessed for free, that is by entering your name, email and phone number into the form.

Once you are inside, this pop-up appears and keep you from seeing the real member’s area of TeslerApp software. You need to deposit money into the recommended broker, that is Options Star Global. 

Did you deposit money into the broker account already? Good luck getting your money back
We found out that there are many people who searched on the web trying to get their money back after being scammed by software like these. Too bad, in most cases, their attempt fail. For a simple reason – Tesler App and Tesler App 2 don’t recommend regulated binary options brokers. 

We have checked on the net and found that Options Star Global is actually not a regulated broker. In other words, once your money is inside, you cannot withdraw them out. In case you didn’t know, regulations mean that you have some kind of license to operate a business. 

You can think about it this way – if you want to operate a retail business or shop in your home country, you need to get the permission from the local government before you can process payment and collect money from your customers. There are thousands of regulated binary options and forex brokers out there. Usually, they will provide you with some kind of free trial version of trading account, known as the demo account. (More about this later). 

Regulated brokers will refund your money, unregulated ones does not

A real regulated binary options broker will refund your money once it is inside. However, unregulated binary brokers don’t. Too bad this Tesler App 2 software doesn’t recommend a regulated binary options broker. In our case, we were sent to the Options Star Global website. However, it will vary depending on your geographic locations. 

This is actually not really free
Another problem with software like these is the fact you cannot test the performance of this software on a trial version of trading account, known as the demo account. In case you are new to trading, a demo account is actually testing ground where you can put the signal service or binary options robot into practice for a month or two before switching to a real account. 

In a demo account, you will be given thousands of dollars of fake money, so you can lose or win as much as you can before depositing money into a real account. One big problem with Tesler App 2 software is they want you to deposit money only to a real account, and not to try this app first on a demo account, which is very risky for any newbies out there. A real forex and binary options broker must provide a demo account first before their traders start putting real money on the line.

Verdict: Tesler App 2 (tesler-app.cc) is not recommended
Based on these points, the Tesler App is not recommended by us. There are way too many cases out there where people depositing money into these fake brokers only to find out that they had been scammed and cannot get their money back. We don’t think anyone can make real money from this Tesler App and let alone generate $237 per hour with this software. This is actually just a cheap attempt to promote an unregulated binary options broker.

What if I still want some kind of software similar to Tesler App 2?

There’s plenty of software out there that can help, but we find out for beginners, the Option Robot is the best. For several reasons:

  • This software can be synced with a demo account and a regulated binary options broker. In other words, you can test this robot on a trial version mode (the demo account), and then make sure that this software works properly first, before putting the real money on the line. 
  • This app recommends regulated binary options broker. Unlike the Tesler App 2 software, the Option Robot software is different. You can test and deposit money into legit, regulated binary options broker. 
  • With Option Robot software, you will have more control over your budget and profit. You can control the risk, the maximum amount that you can put per trade and even better, this software also come with settings such as indicators where you can test and tweak first, in order to get the best winning rate. 
  • The interface of the Option Robot is pretty straight forward and this is actually suitable for newbies. 

For more details, you can refer to our Option Robot review here, or you can sign up for a demo account on the official optionrobot.com website. 

There is a new hype surrounding the binary options niche. It is called the Crypto Trader. You are probably intrigued with the video inside the crypto-trader.co website and search on Google to find out whether people can make money with this app or not. Well, the truth is, this is just another get rich quick scam that anyone should avoid.

Crypto Trader is about binary options trading
Despite being advertised as cryptocurrency trading, this program is actually binary options trading signal. In case you didn’t know, binary options is one new method of making money from the market by choosing call or put. For example, if you think that one asset, let say, EURUSD is going up after one hour, then simply choose call. Otherwise, if you think that EURUSD is going down after one hour, then choose put.

If your prediction is correct, then you will gain back all your initial capital plus 85% of profit paid by the binary broker. For example, if you invest $10 by the beginning of the trade, then you will earn $18 after one hour. Otherwise, you will lose all $10.

Can anyone make money with binary options trading?
Yes, you can. But, it takes a little practice with a demo account before you can earn real money. In other words, while Crypto Trader is being advertised as easy money, the truth is, it is not.

This product is being advertised as free
This marketing tactic is nothing new in the binary options niche. You are required to enter a name, email and a real phone number in order to access the Crypto Trader software, which is claimed as free. However, once you are inside, you are required to deposit at least $250 to their recommended broker, called Stern Options (and we don’t recommend it).

Have a look at the Crypto Trader software
In case you are just curious, we actually have the screenshot of this software. The Crypto Trader software gives the signal in terms of percentage, which is claimed as confidence factor and we don’t know what it means.

The problems with Crypto Trader software

  • This software makes an unbelievable claim which can lead to complaints.
  • This app is not recommending a legal, regulated binary broker, in fact, they just connect us to Stern Options.
  • While the signals are given in terms of percentage, you cannot determine what is based on. For example, technical analysis, fundamental analysis or indicators.

We don’t think that people who created this Crypto Trader software are real traders
We have seen tonnes of binary options apps like these before and we don’t think that whoever created this Crypto Trader software are real traders. They might be good at marketing or software programming, but they fail to understand how trading works and how people really profit from the market.

A real binary options software must look like this:

In other words, it must include with indicators, such as MACD and more in order to make the right analysis.

We don’t recommend Crypto Trader to anyone
Here are a few problems that we noticed with the Crypto Trader software:

  • This product doesn’t recommend a regulated binary options broker. In other words, you can deposit your real money, with a valid credit card into the system, but it will be hard to get it back.
  • While it is being advertised as free, the truth is, you cannot test this Crypto Trader system on a demo account first. You might not know this, but a real, regulated binary options broker should always include a free trial version of trading software known as the demo account.
  • This product doesn’t have many settings that you can utilise to control your budget and earn profits from it. A real trading software must include risk settings, indicators and more in order to trade, profit and earn money from it.

Alternative to Crypto Trader and our verdict
If you still want to choose a trading software or signal service like this, we highly recommend that you find a trading system that can be tested with a demo account first.

In case you are new, a demo account is a trial version of any trading account where you will be given lots of fake money, up to $100,000 and then you can trade, lost, make mistakes until you see the right direction.

There are thousands of software, signal services or trading robots like these but most of them are rarely being advertised. We highly recommend that you choose our #1 recommended program, Option Robot and you can read our review here.