Binary traders, we all stick together like a dysfunctional family with a common goal. We do our best to help each other out and offer up advice on systems like the Navstar Trader by Ethan Harrington and if it's legit or not. Sure sometimes people get over excited about their winning trades or losses and exaggerate things a bit. Traders often bemoan their bad luck or brag about their great winnings in the private forums. That's harmless, and we all know to take it with a grain of salt, but then you also get some claims that are just way out there. So let me tell you what I've found out about the Navstar Trader. You're going to need a bag of salt for this story!
We all know to sigh and move along when our friends in the forums exaggerate a story or a new strategy they claim will make them millionaires in a month. It can, however, be very tempting at times to consider putting everything into a shiny new automatic trading robot system like Navstar Trader that supposedly delivers $900 per hour, $670,000 per month. But wait, there's more and yadda, yadda, yadda it just carries on.
Quick notice before we continue the Navstar Trader scam review: Unlike scam websites that do not divulge this, we would like to explain something. Regardless of which link or website you use to sign up for this service, somebody might be paid a commission. That includes links on this website. Our register web links can be trusted, since they are behind SSL HTTPS security, so you can be certain of the starting point.
Annoying Browser Pop-Ups: Yes
Available In: Australia, Canada, Ireland, New Zealand, United Kingdom
Fake Scarcity Counter: Yes
Comes Across As Authentic: No
Probability of Being a Scam: 99%
Fake Testimonials: Yes
Impossible Revenue Gains: Yes
Convincing Proof of Profits: No
Price: Free. Have to sign up with one of their brokers.
Auto-trading Available: Yes, fully auto-trading app
Real Binary Options Trading
Even if you're a seasoned binary options, Forex or online stock trader, sometimes you wish you can just turn on an automated system that will permanently just keep on trading for you. No doubt about it sometimes even I get impatient and want $670,000 in just one month. Don't we all?
Navstar Trader is Ethan Harrington's freaky baby that allegedly uses GPS technology to earn money in binary trading. Now I am all for showing off people's successes, but in the real world of binary trading, it is just plain weird to post people's names and earnings online. Posting your win rate is fine, and you should see that posted on all reputable trading forums. Showing everyone your actual trading account is usually reserved for very special purposes like reviewing new software and is not something that is generally done. This is especially true for flashing around a Rolex watch in a presentation like this, and I'm pretty sure it's a fake too.
All of the crazy revenue numbers, flashy watches and impossible promises makes it quite easy to call it the Navstar Trader scam instead of a legitimate trading system. If you still don't agree, just keep on reading.
In its most simple form binary trading is a direction based, win loss proposition. If the trader is correct in picking the direction of the underlying asset in a given amount of time he/she will win a fixed percentage ( commonly anywhere between 60% and 90%), and if the trader is wrong in picking the direction of the underlying stock in a given time frame you will lose anywhere between 85% and 100% of the trade.
Fundamentally that is literally just what Navstar Trader is going to do on your behalf. I doubt that the Navstar Trader scam is going to make any money for you though, and I haven't seen any other real trading evidence by other traders to the convince me otherwise.
Keep in mind in binary trading the range of the underlying asset move is meaningless, the direction is all that matters. With binary options, traders likewise do not have to worry about exactly where to put your stop-loss, since market activity that take place preceding the closing of the trade has no effect on the result. This suggests that regardless of whether the market spikes up or dips it makes no difference as long as the market ends either above or lower according to if you carried out a PUT or CALL.
Bizarre Revenue Claims
The revenue claims made by the Navstar Trader scam is totally preposterous! I literally watched the first minute of their presentation video and just burst out laughing. They claim you will make over $670,000 “this month” with their software.
How can they guarantee monthly profits like that? Those claims have absolutely no basis in reality whatsoever. There is no system that will make you that type of money with a starting balance of $250 in only a month! You have much better odds winning the lottery, and if gambling is what you're after, then you should not be trading in any case.
How does he get around the rules of financial advertisement? Claiming that trading is 100% risk free is impossible, especially given the actual trading warnings required by law for any form of online trading. C'mon Navstar Trader, you can't make statements like that!
Does It Sound Familiar?
If you have been following along with the automatic trading system scams, then Navstar Trader may sound very similar to the GPS trading scam. It is essentially the same thing, but wearing a different name tag and built with a prettier website. It's just a poor knock-off system, and honestly not worth it.
Harrington Has A Job
If you still do not know to stay away, realize this. Harrington does have a day job – it is to swindle people out of money. He probably gets tons of hits to this site and most likely sells off the email addresses he so eagerly want you to enter into that little box below the video. He is acting more as a marketing genius, not a trader who relies on this site to make him money by trading binary options. The rest of us have real money on the line when we take up a position and make an investment. This Ethan Harrington guy looks like a fake!
The rest of us are careful to invest only 2% to 5% of our savings into binary trading. And, even then, we only should put 2% to 5% maximum of that money into any one trade. Slow and steady always wins the race in currency trading, and it is important to never forget that, especially when you get impatient and want to make $670,000, and fast!
Even so, know this: Businesses buy likes on Facebook every day and not everyone with a fancy presentation video can be trusted. If you are still curious about Mr. Harrington, guess what? He is almost certainly an actor. He is simply a convincing mouthpiece for a fake brand and a poor replica of a proper trading system.
Even For Free This Product Is Overpriced
Think of how much you can lose with the Navstar Trader, and use your risk management smarts to avoid this Navstar Trader scam at all costs. Even one minute wasted with trying to figure out if it is legit is too much.
There are quite a number of other systems that we have reviewed on this site that is much better than this! Remember to always make sure you are clear on the terms of any Bonus offers. Ask questions if there are terms or conditions that are not clear to you. All binary options brokers, with the exception of Nadex, are not regulated in the USA, so make sure you understand the implications. You can make money with binary options trading, just not with this bogus system. Please take a look at our currently recommended binary options systems and their reviews.