Published on January 31st, 2017 | by John Kane20
Managed Accounts Review: Binary Basis
Binary Basis is a managed account service brought to us by Suen Cho Hung an investment analyst for Overseas Hong Kong Investment limited. Depending on the amount deposited the service promises in annual profit from anywhere between 840% to 1650%. Each plan comes with a number of insured trades, a length of contract and a management fee. This service comes across more like a high-yield investment program than a binary options service.
Today we will be analyzing what this developer has to offer the community and letting you know if you can expect reliability and regular withdrawals.
Binary Basis Review
According to the sales page the Binary Basis trading team operate with a win rate over 75%. Traders can follow along with the progress of their account manager by logging into their trading account. There is currently a free trial available, but it is not actually free. Traders have to fund an account with their recommended brokerage with $2000 and one of their experts will trade that account for 3 days.
For the managed accounts they are using a software module that allows them to compound interest and essentially just use a basic money management strategy. Their money management is set at 2-2.5% of the account balance per trade, which is pretty normal.
Managed Accounts Levels
There are 3 Binary Basis managed account levels. The first requires an investment between $15,000-$49,000, and returns an annual profit of 840% over a period of 10 months. The management fee for this account is 15% of the generated profit. Every single level includes 10 insured trades but only the 2nd and 3rd levels provide monthly withdrawals. The second level requires an investment between $50,000-99,999, and returns in annual profit of 1100% over a period of 9 months. This account comes with an 11% management fee. Finally, the last level is for traders looking to invest over $100,000. This level provides an annual profit of 1650% over an eight-month period with the management fee at 7% of generated profits.
Promises like these are seen frequently in the high yield investment program market. That’s not to say that this program is an HYIP but these annual profit numbers are certainly overly aggressive.
The Binary Basis team provide a handful of different charts that are supposed to represent the performance statistics for their signals. They claim that in December they hit an 89% win rate and 90% in November. Sadly, there is quite a bit missing from the performance page. We are not shown a single trade. It is very easy to create graphics that represent full winning streaks, but there is a real lack of proof here.
If there signals truly have been winning nearly 90% of their trades in the past 2 months then why wouldn’t they provide us with their trading history. It would be nice to see the actual trades being taken as opposed to charts that don’t tell the whole story.
At this point in time, I don’t see how we can recommend Binary Basis to the Binary Today community. Considering the amount of failed managed accounts and unscrupulous account managers, we have to be very careful about how we proceed when we see promises of thousand percent gains without any real proof. Now, is the time for clients of this service to leave their impressions and thoughts to help clarify the legitimacy of this service. I look forward to hearing from you and hope that you spend more time here learning how to trade binary options.
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