OH MY GOODNESS!!!! GPS Trader scam is total trash! There is absolutely no way that you should fall for this SCAM, just read this review first, okay? Please, just give yourself 3 minutes and scan through this GPS Trader review. I promise you that you will be thankful you did! I normally reserve my judgement until I've actually looked at the system, did a bit of analysis and checked testimonials and maybe the identify of the presenter if necessary. In this particular instance, there is no need for me to do any of that. In this GPS Trader review I will tell you exactly why I say that.
I've you have ever encountered a situation where you are in the unenviable situation of having to cope with a very pushy and deceptive salesman, then you know what I'm talking about, this Richard Heffner guy is exactly like that! He comes on strong and just keeps on pushing!
The presentation video has hardly started when he starts telling you that “in the past 3 months I made 27 random people millionaires. Twenty seven! Random people! Millionaires!” Umm, yep, no, I don't think so pal, you're talking crap. There's no way the GPS Trader app or any other trader app did that in 3 months! I find it mind-boggling that he can make claims like that and keep his pose, because it is absolute bull-you-know-what! If you do a quick check to see when the GPSTrader.co site was registered, you will see that it's just a couple of days old! Besides the fact that there is absolutely no proof of Richard Heffner making 27 people millionaires with the GPS Trader scam software, the site wasn't even created a month ago! So where is he getting the 3 months?
Oh wait, I know! He's LYING!!! He's just making stuff up to try and get you to sign up for the system. Don't fall for it, there really is no reason you should spend your hard-earned cash on this system. Yes, it might be free, but you will still be required to sign up with a broker and fund your account, so you will need that credit card after all if you plan to sign up with these clowns.
How Does The System Supposedly Work?
The story we're given is that Richard Heffner worked for the global satellite positioning company Garmin. You might have heard about them in the past, they were a big deal before phones came with GPS trackers installed by default. His brother Josh apparently worked as a binary options trader at Wall Street and together they hatched a hokey plan to beat the system by sending trading signals via GPS satellite and supposedly shaving 94 milliseconds off the transaction time, thereby allowing them to profit 100% with the GPS Trader software.
So, is that all possible, or is this a load of baloney? Yep, you guessed right, it's a total scam! Why? Well, because if you think about it, GPS satellites are not used to relay information like that, they do their GPS thing. Secondly, by the time the signals has traveled to the satellite and reached the broker, that 90 milliseconds will no longer help you, since there's always a bit of lag on the broker platform. Sometimes you even need to confirm that you want to place the trade, which completely eliminates those supposedly precious milliseconds.
$20,000 in 24 Hours? Is That Possible?
With binary options trading it is completely possible to do that, but you would need nerves of steel and a much larger starting balance than $250, not to mention that you would need to be really very good at trading! The GPS Trader system claims that they can maintain a 100% win rate because when the system detects that your trade is going to lose, it opens up a trade in the opposite direction to counter the loss.
The problem with this is that they're targeting people that have not traded binary options before, since that's not how things work. When win a trade in binary options, you typically get up to 85% in addition to the money that you initially put in to the trade, and when you lose, you typically lose 100% of the money you risked in the trade. In other words, if you placed a trade for $25 and you were correct, you would get $46.25 back in total.
Have you caught on to how they're telling lies yet? You see, if the one trade is wrong, the GPS Trader app would need to open up a much bigger trade to cover the $25 you lost. With binary options, you need to basically have at least 2 winning trades for each losing trade in order to make money, because it is not about how far the market travels, it is about determining the direction the asset is going to go over the next few minutes, or even seconds.
This means that with binary options trading, you don't need to wait days for a trading position to hopefully reach a position where you can either safely exit it with a profit, or hang on for dear life hoping that you won't lose all your money when there is a sharp turn against you in the market. The GPS Trader system trades on a binary options platform, and therefore it only needs to get the direction of the market correct. The joke is that none of this has anything to do with GPS satellites.
GPS Trader Review Conclusion
The GPS Trader scam is a system that you should definitely avoid. If you were told about this system in an email, unsubscribe from that sender's list immediately, they're simply trying to take your money! I know that's a very short conclusion, but that's all that is to it, just take a look at our suggested systems list for a much better alternative. Actually, we have more than one alternative to the GPS Trader app, they're all way better, check them out.