StockBit by Daniel Watanabe is a brand new binary options scam that will most likely never see the light of day. This review is provided purely in the event that this StockBit scam returns in a different form. The video is (or was) very slick and the presentation was world-class, but the system itself was purely a scam. The StockBit app promises to track the sentiment of traders in order to create an algorithm that taps right into the heart of the market.
As with many other well-crafted scams, this StockBit scam came fully loaded with an amazing story and a great presentation. Too bad it is all worthless. Initially it actually looked like a viable auto trader that might be worth investing into, but things started going wrong very early on.
Unlike scam sites that don’t disclose this, we would like to point out something. No matter which link or site you use to sign up for this service or software, someone might receive a commission fee. That includes links on this site. Our sign up links can be trusted, because they are behind SSL HTTPS protection, so you can be sure of the origin.
Daniel Wannabe Who?
We are introduced to Daniel Watanabe, who is supposedly a young entrepreneur who developed the StockBit software with a group of traders and programmers. They claim that the software will make you $900 each and every day. While that is actually achievable, there are a number of other claims that went with it and those claims were ultimately what revealed the true nature of this StockBit scam.
At the start of the presentation, we are told that you will make a 7% return per day on your investment. Now, if you are used to regular stocks, then you would be right to say that it sounds like a very good return. Most longer term investments hardly achieve a 7% return per year, much less a day! The math starts to fail when you compare that to the other StockBit claim of making you $900 per day.
If you take out your calculator, you would very quickly see that starting with a regular deposit of $250 with a 7% return per day, will not get you anywhere near $900. In fact, you would need close to $13,000 in your account to realize a 7% return that would equal $900. So unless I’m making a huge mistake in my calculations, what they claim is simply not possible!
On top of that huge blunder, we are told by Daniel Watanabe that they already have over 14,000 traders that are trading and profiting daily with the StockBit scam. Daniel Watanabe presents himself as an expert trader that researched and developed the StockBit software. By itself, that is not an unreasonable claim. However, we are also told that the StockBit system has already been working for over a year, and has consistently delivered 70% accurate trades.
Once again we are faced with claims that on the one hand sounds perfectly achievable. The 70% accuracy rate is very do-able with binary options trading, and it will still give you impressive returns, even though it might sound a bit low. In the same breath, we have to debunk the nonsense claim that StockBit has been active for over a year. That’s simply not true. How do I know that, well I’m certain of that because the domain was only registered on 2016-08-04 which is hardly two months ago!
Digging into the Daniel Watanabe character, who is supposedly very well known in Silicon Valley, we find, well – nothing! For a company that supposedly brings in an astounding $90,000,000 (count the zeroes, that’s $90 million!) you would think someone would know about him. There’s not a single piece of evidence that this guy exists at all.
When you piece all of this together, it is like this StockBit scam has a split personality. On the one hand there are sane, and quite believable claims, and then all of a sudden there are these wild claims that are unsubstantiated and totally false! It just doesn’t add up!
StockBit Scam Conclusion
Oops! I think I revealed my final thoughts already! No, but seriously, this software is not to be trusted. Their domain, StockBit.net is no longer functional at the time of writing this article. That is a good thing, but if you do see this system pop up again in the near future, you know what to do – run!
You are also welcome to check out two other very reputable blogs, the Binary Options Gorilla and Binary Options Spot, both of which fully agrees with my assessment of this stupid system.
Alternative Reputable and Tested Systems
So, where does that leave you? Are there any systems that are worthwhile? Thankfully there are, they are few and far between, but they do exist.