Is The Opus Formula A Scam?
Did Opus Formula get you interested in an auto trader? Are you planning to try out the binary options trading market? If so, then you’ve probably researched about the different trading systems you can use to find the one that will help you succeed. It’s easy to find auto-traders and other trading software online, but most of them prove to be useless. Unfortunately one such example is the Opus Formula created by Lex Simmons Jr. That does not mean all is lost though. Many beginners in the world of binary options trading fall victim to badly designed systems because they do not know what to watch out for. This damages the overall reputation of binary options trading despite the real possibility of making money. Read this Opus Formula review and find out why you should steer clear from it.
Who Is Lex Simmons Jr.?
First, let’s talk a little about the man behind the Opus Formula System, Lex Simmons Jr. The problem is that there’s almost nothing to talk about. When you do your own research about this manand the Opus Formula, you’ll barely find any relevant information. All you will find is a bunch of very recent artiles that claim it to be the best thing since sliced bread! It wouldn’t come as a surprise to us if the man that talks on the embedded video on the homepage turns out to be a fake persona. According to some articles, Lex Simmons Jr. used to be a manager of hedge funds, and a CEO of Bridge Lending partnered up with him to create an automated software for binary trading called the Opus Formula. But there’s not a single evidence that proves this.
How Effective Is The Opus Formula?
If you have used other auto-traders before, then you should be familiar with how the Opus Formula works. It’s designed to be extremely simple even for beginners. But once you start using the system, you will be very frustrated by how many times it crashes and loses the trade. If you’re saying that this is something you can live with, then understand that things aren’t going to get better.
Several versions of the software were said to have been released, but to this day, the Opus Formula is very annoying to use. According to Lex, the accuracy of the software has improved after every release. And now that it’s on its 7th version, the accuracy is said to be at 100%. Seriously? That's crazy! That is simply a ridiculous claim for any auto trader! If the software is really as good as Lex claims, then every single trader should be using it by now. But that is clearly not the case.
Opus Formula’s Shady Scam Tactics
The Opus Formula trading system works completely online. For many traders, this offers a great degree of convenience. It also works across different devices since it is all online. You need to make an initial deposit upon creating an account. This is not unusual, since you do need a funded trading account or else there would be nothing to trade with. What I do not like is that Opus Formula utilizes a pressure tactic by putting an expiring clock on the landing page. If you fall for the trap, you’ll enter your personal details and make a deposit before the time expires. And you will soon discover that you made one huge mistake.
What’s so bad about making an initial deposit? After all, you’ll be able to withdraw your money in the future, right? Sure you can, but if you sign up for the bonus payment, you will only be able to access your funds after making a certain number of trades. All of the details are clearly laid out in their terms and agreements, but you will find that they try to wisk you past all those details. If you do agree to the bonus payment, which can be as much as double your initial deposit in some cases, there’s a minimum trade volume you need to meet before you’re allowed to get your money. So if you lose all of your initial deposit before reaching the threshold, then say goodbye to your hard-earned money.
Testimonials About The Opus Formula
If you watch the video on the homepage of the Opus Formula scam website, you’ll see Lex rave about his auto trading software. Toward the end of the video, he shows a clip of an investor who supposedly found success with the Opus Formula. But it’s blatantly obvious that the testimonial is fake. Even the video itself is poorly created. You’d expect that a guy like Lex Simmons Jr. who said that he made nearly $30 million in a single year would be able to pay a lot of money for a high quality video.
Is Opus Formula a Scam?
This Opus Formula review should convince you to avoid the software at all costs. You do not want to use this auto-trader created by the fake Lex Simmons Jr. persona. The Opus Formula also utilizes pressure and shady tactics to force you to make an initial deposit and trade a given number of times. You can definitely make money with binary trading, but not if you follow the advice of Lex Simmons Jr. You’ll be better off holding onto your money and finding a legitimate trading system that reaps real returns.
So where does that leave you? Well, the fact that there are scams out there like the Opus Formula simply confirms that there are also software that works. There is no system that can give you 100% perfect results, that just doesn't exist. However, we do have a list of systems that have been proven to consistently deliver great results. Don't expect every trade to be a winner, don't trader with money you cannot afford to lose and educate yourself as much as you can to make a success of your trading and grow your account.