Is SnapCash Binary a scam? Are you potentially missing out on an 80% win rate? Let’s get some answers! We’ve received a number of questions, such as: Can you really make over $5,000 a day trading? How is Snapcash Binary different from all the other binary options auto-trading systems? You might have a lot of questions about this new system and I’m going to answer them all. We will be looking in-depth at the Snapcash Binary system, and you will see some of the unexpected results I uncovered!
UPDATE: 29 January 2017 -- This offer is no longer available and is fully subscribed with no further signups being accepted. Please take a look at our other top-performing systems:
UPDATE: Trading results with an 80% ITM (win rate) confirmed! Watch the video below! Our results have been confirmed by a number of well-respected blogs!
Here is our first video:
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Snapcash Binary by Austin Ford
Let me start out by saying that I approached this Snapcash Binary app with some initial hestitation, but then I changed my mind. There are definitely some things that I’m going to point out to you. I want you to be aware of all the issues I picked up on and make a sound decision by the end of this post. However, I can tell you already that this system is a breath of fresh air, so let me tell you a bit more about it.
I was approached by some of the people that have helped Austin Ford launch his new Snapcash binary options trading app just over a week ago. They wanted me to test out his software. I often get requests like this, and most of the time it doesn’t turn out very well for the creator of the software. If you have read any of my other blog posts, I’m sure you can imagine why. However, I liked what I heard during our conversation, so I decided to give it a try.
Is It Possible To Make $1,200 Per Day With Snapcash Binary?
You will see from their site that they claim you can make over $1,200 per day. In the presentation video by Austin Ford, the two people in the test group both made over $5,000. Is that even possible? In the past I’ve outright slammed systems that claim high revenue gains on a daily basis. For instance, recently there was the ‘Blazing Trader’ system that guaranteed traders would make $20,000 each day. That’s pretty crazy. In comparison, what Snapcash Binary claims you can make is far more realistic.
Still, making $1,200 in a day is a lot of money. Turning $250 into over $5,000 as we are shown the two test subjects make is even more impressive. Can that be done? I took up the challenge! I was assured by the guys at Snapcash Binary that I was not going to lose my money, so I went ahead and did a test. Normally I trade quite conservatively, but obviously making over $5,000 in a day would require a far riskier approach.
Here are the results of my test, unfortunately I had to do it over two days, since I simply started too late on the first day. You are welcome to download the Excel sheet if you also want to track your trades.
As you can tell from the image above, even with a win ratio of just over 80%, it is possible to get to $5,335 with just 22 trades! That was actually quite shocking to me. This means that I could verify the Snapcash Binary revenue gain claims! I fully expected to not be able to get to over $5,000 from a small base like $250 in such a few trades. The trades needed to be quite agressive to get to numbers like that, but it is possible. Now, you have to realize that there were still 4 losing trades in that list. Obviously, if I got those 4 losing trades as my first couple of trades, the results would have been different. It’s just logical, right?
I often get emails or comments where people say “My first 3 trades were all losers, this system is a scam!” The error in that type of response is that statistically it is simply not valid at all. Out of a 100 trades, you could have 20 losing trades in a row and still end up with an 80% win rate. That means that often you might start out on the wrong foot of a trading cycle. Then you get a bunch of losing trades while everyone else simply absorbs it in the middle of their trading cycle.
How Does Snapcash Binary Work?
In the presentation video, Austin Ford tells us that he wanted to make it really easy for people to trade, even if you have never traded before. That is a core feature of Snapcash Binary. At some point, we were all newbies at something, so there is absolutely no shame in now knowing how something works, and there are always opportunities to learn new things. That’s also what I liked about Austin, since I also taught myself how to code, and it has been a great benefit to me over the last few years.
With Snapcash Binary, just like with the social media app Snapchat, you have a short window of opportunity to react to a potential trade. Binary options is all about opportunities that present themselves throughout the trading day, and you need to react fast to catch them before they disappear forever. This is also part of why binary options is such a fun way to trade, and Snapcash Binary makes it even better.
The ease with which you can learn binary options was also one of the main reasons I was initially attracted to it. Binary options also carries a lot less risk in the sense that unlike traditional Forex trading, there are no spikes that can wipe out your account while you are in a trade. With Forex you have margin calls and you often get to sleep very restlessly as you worry about an active trade that might get stopped out by a pip or two. With binary options trading running on a system like Snapcash Binary, that never happens.
Binary options has taken the trading community by storm over the last couple of years. Day traders who have been used to scalping tiny returns from small stock movements, can now get returns up to 90% for these same small movements by using binary options trading. A system like Snapcash Binary automates this trading method for you.
So how is that possible? In its most straightforward form binary options trading is a direction based, win loss proposition. All you need to do is to pick if a stock, currency or other asset is going to go up or down over the next 5 minutes, 10 minutes or more, typically up to a day. The alternative is to simply use a system like Snapcash Binary and let it decide for you. Some brokers offer longer term binary options. The point is that you do not need to worry about when to exit a trade, and you do not need to think about things like stop losses or trailing stops.
When this whole process is automated for you with software like Snapcash Binary, you don’t even need to worry about if the movement will be up or down. It’s all done for you.
Things I Don’t Like About Snap Cash Binary
To be honest, there are a couple of things that I do not like about Snapcash Binary. The fact that Austin Ford tells us how wealthy he is by showing us his bank account is not something I think is necessary. I can understand that there are people that might want to see proof like that, but to me it feels more like something his marketing team asked him to do.
I don’t like that the two sample cases with Jeff and Sam make it appear that going from $250 to over $5,000 is going to happen each time. The $1,200 mentioned on the main site as a daily goal is far more attainable, and is still a LOT of money!
During the video Austin Ford also mentions that the Snapcash Binary software has an accuracy rate of up to 96% percent. While that might be true, I’ve shown that even being accurate only 80% of the time can still rake in the cash. I can understand that not everyone knows that, and therefore sometimes from a marketing perspective the developers of auto traders like Snapcash Binary are placed under pressure to push up the numbers.
What I Like About Snapcash Binary
There’s a lot that I like about Snapcash Binary. There are no silly count down timers that tell you that there is only 20 seats available.
I also really like that Austin Ford is basically a self-taught software developer. I know how powerful it is to be able to create your own software. You are not at the mercy of others and big organisations, you are able to develop an application like Snapcash Binary that does exactly what you want it to do.
We don’t hear anything about a long story of a secret loophole or an impossible crazy rhetoric about a stolen piece of code. What we are told about how Snapcash Binary was created by Austin Ford himself. He simply tells us that he taught himself how to code and figured out a way to trade very accurately. That makes perfect sense to me, since I see every day how the trading admins of Mike’s binary options Facebook group perform consistently above 80% accuracy. If one of them knew how to turn their knowledge into a trading system by coding their own software, I have no doubt that they could produce similar results.
There are no claims of making you a millionaire in just a few months. We aren’t shown photos of luxury yachts or huge mansions, and there aren’t people telling us that they got hundreds of thousands of dollars in just a month or two.
No fake “trust” badges can be seen anywhere and there are no fake Fiverr actors that tell you they made millions while it is pretty obvious that they didn’t.
I like the fact that the details of their support team is available directly on the main site. When you log in to the trading app, you will see that they have a link available there as well. Being able to easily access the Snapcash Binary support team is a very good sign to me.
Most of all, I like the test cases with the ex-mattress selling guy Jeff, and the nurse Sam, both ring true for me. In other scam systems, they never really show that people are handed over hard cash to get them started. Now, I know that there are probably going to be people that will be asking to to be handed $250 to get started. Clearly that was a once-off event for the benefit of the Snapcash Binary presentation video. The testimonials of Jeff and Sam are very convincing to me and they come across as very sincere.
What I have heard from other beta-testers are that they have all had great results with Snapcash Binary, and at the end of the day, that is the most important. Their results support my own findings about Snapcash Binary and how accurate it is. While I have not seen an accuracy rate of 96%, an ITM (In The Money) rate of 81% is still very impressive and well able to turn $250 into over $5,000.
Snapcash Binary Review Conclusion
This is without doubt a system that you should sign up for. If you can find a better system, then by all means, go for it. However, if you have read other articles on this blog, you will know that there are very few systems that we speak positively of. When I support a system, it is because I believe that it is a good auto-trader that is in my opinion significantly better than other offers.
Of course, you should still only risk money that you can afford to lose. There are never guarantees when trading, and that also goes for Snapcash Binary. Do not let anyone tell you differently. At the same time this Snap Cash binary offer is very compelling in my opinion, and you should not waste time making up your mind.
Next Steps In Signing Up For Snapcash Binary
It is very important that when you enter you name and email on the form that you take note of it and use exactly the same email in the next step when signing up for your account with a linked broker.
You should also not delay between the time that you enter your email on the Snap Cash Binary site and when you enter your details for the binary options broker account. This is so that you ensure the link between your account with Snapcash Binary and the broker that will execute your trades are all synced up properly.
When you do not immediately sign up for a broker, and you cause a delay between creating your Snapcash Binary account creation and the broker sign-up, it might cause issues for you later. Of course those problems can all be solved, but I’m sure you want the process to go as smoothly as possible so that you can start trading directly after confirming your broker account.
Some brokers might ask you to verify your personal details. You will likely encounter this when signing up for Snapcash Binary. This is a requirement many binary options brokers have, just like any traditional broker. They have to verify your personal details to ensure that you are not just using your account for activities such as money laundering.
When asked for details such as your driver’s license and credit card, they should allow you to cover up the first part of those numbers. They simply need to verify that you are who you say you are.
Filling out all your details accurately will make the whole process go smoothly and get you ready to trade with Snapcash Binary easily in no time at all!