iFollow Club Is a new social trading platform for binary options trading. The developers of this software tell us that we will be able to copy the trades of some of the top Wall Street traders. I’m not sure why products like these keep pushing Wall Street traders on us. Every product that even mentioned the Wall Street trader fails miserably so I would assume these developers would recognize that and adjust accordingly.
Today I’ll be writing a review and letting you know if you should follow the trades being provided on the social trading platform.
iFollow Club Review
I believe that the developers of the iFollow Club social trading system doesn’t actually know how binary options trading works. Yes, saying that me come across as ridiculous but if you watch the sales video on the front page of their website then you will find it very hard to disagree. The people behind the system tell us a story about a stock trader that invested in Amazon and then Apple. Of course, his investments did extremely well and he made $8.3 million. Now, the developers of this social trading platform tell us that we can copy those trades and become millionaires ourselves. It all sounds great doesn’t it?
The problem with the iFollow Club social platform is the fact that binary options doesn’t work like stock trading. They are giving us examples of a trader buying stocks and holding onto them for months if not years. Binary options doesn’t work like this. Binary options are generally short-term trades with the longest expiry time being one week. During that one week you wouldn’t gain 3000% if the stocks went up’s 3000%. In binary options you pick a high or low trade and then at the end of the expiry time if the trade is higher or lower than its original price you get the payout. The payout however maxes at around 80% in binary options so few put in hundred dollar trade then you will make $80. I feel silly explaining binary options right now but I feel like I have to.
I am not recommending iFollow Club social trading to any of the binary today readers. There is no reason for us to sign up with a binary options signal provider that doesn’t even understand how the market works. It makes no sense to me why this developer wouldn’t do some basic research on the binary options market before putting together their sales presentation. I do not have any confidence in this product and would like to hear what you have to say about it as well. I look forward to hearing from you and hope that you have a great weekend ahead.