SnapCash Binary offers a completely new take on auto-trading. Does it work though?
I’ve been trading binary options for quite a few years now and over time, I have indeed developed an eye for spotting legitimate offers and shady deals. I have to say though that with SnapCash Binary, I was more than a bit confused, mostly due to their marketing practices, which seem less than ideal here and there.
I eventually put my own money onto the line with this one though – something I do not do often – and I ended up drawing my own conclusions. The first thing that one will spot as soon as he/she lands on the SnapCashBinary homepage SnapCashBinary.com), is the promise of $1,200 per day. That promise is overly optimistic and it just doesn’t look good at all. I personally haven’t been able to hit that mark, though that doesn’t mean someone else can’t. The success rate that they claim in the Snap Cash Binary promotional video is more than a little far-fetched. From my own experience and from the testimonials of other traders, I can safely say that the real success rate is far below that.
What Is The SnapCash Binary Software?
SnapCash Binary isn’t a full-fledged auto trader, which – considering the reputation and the general capabilities of the latter – is in fact a good thing as far as I’m concerned. Most of the auto traders advertised out there do not require human intervention. Snap Cash Binary on the other hand, does. In fact, the final word on whether a trade is made or not, belongs to the user.
What Snap Cash Binary really does, is to identify trading opportunities, to set up the trades and to present it to the trader for approval. It is a sort of trading assistant, which is very capable and which indeed does all the “dirty work” for the trader. Because of the way it’s set up, it works for those without any trading skills too, although if one knows a thing or two about binary options, that’s definitely a plus. Snapcash Binary acts as a sort of “lone wolf” in the markets. Not being bound by the limitations set by a broker, it identifies more potentially profitable trading opportunities than regular auto traders do and it thus offers the user a significant edge – or at least this is what it’s supposed to accomplish.
Who Is Austin Ford?
The guy behind the SnapCash Binary project and the promotional video available at snapcashbinary.com, is Austin Ford, a programmer turned trading specialist who has been involved with financial software and who has apparently had to deal with some of Wall Street’s own software. Austin’s story is a pretty generic one as far as promotional material is concerned, and it left me thoroughly unimpressed, to be honest.
The guy is eloquent though and he has no qualms about slapping his face onto his product. He’s also stylish, rolling around in an Aston Martin and handing people money to give his software a try. He also seems to purchase a home with a pool and a vineyard, and he’s not shy to showcase his wealth. I have never heard about Austin Ford before Snap Cash Binary, and as such, his presence and his person were in no ways instrumental in my decision to reach for my wallet so to speak, and to give snapcashbinary a try. After all, regardless of what one says and does, the proof is always in the profits, or in the lack thereof.
How Does SnapCashBinary Work?
Snapcash Binary’s name is a reference to SnapChat, because of the way it serves up its suggested trades. Once installed on a mobile phone, whenever a new trading opportunity arises, the Snap Cash Binary app pops it onto the screen. The trader can then choose to accept the said trade or not. If the trade accepted, it goes through, generating a profit or a loss – depending on its outcome. If it’s not accepted, it is discarded by the software, never to be featured again.
According to Snapcash Binary’s maker, the way the trading opportunities are identified and eventually acted upon, is based on some of Wall Street’s own trading algorithms – bold claim, and one that I personally didn’t really like. I like to know what goes on in the background, and in the case of snapcashbinary, there’s just too much secrecy for my taste. There’s apparently a team of “elite” brokers involved in the mix too, together with the above said algorithms…
My Personal Experience With SnapCash Binary
As I said above, I wasn’t particularly impressed with SnapCash Binary’s presentation and with the details Austin Ford provided about the software. Despite the fact that the video was actually enjoyable – its production values much better than one would expect from a typical auto trader ad – it didn’t convince me. The reason I decided to give it a try nonetheless was that I found its format intriguing.
In the end though, it gave me too little control and actual inside-knowledge regarding the trades, so I did feel a bit like driving around in the fog. Another thing which contributed to the vote of confidence I effectively delivered by making my deposit, was the fact that they never said I wouldn’t have to invest any money, In fact, Ford hands money to the people taking part in the testing in the video, for deposit-purposes.
As I Said Above Though, The Proof Is Always In The Profits And That’s Where SnapCashBinary Delivered
Albeit not in the spectacular manner advertised on its homepage. I had to make my own deposit (the minimum on which is $250), and I ended my first day of “trading” with $872 – a far cry from what the people featured in the video accomplished. It is also true though that I was extra-cautious, and I accepted few trades. For the following 5 days, I built up a roll of a little over $2k, after which I loosened up a little and accepted more trades. This move resulted in a few losses for me, so I tightened back up.
I now have some $3,436 in my account, though it has to be said that I haven’t actually cashed out anything yet. From what I’ve seen, the success rates generated by Snap Cash Binary are around the 70% mark at best, but the software does indeed work.
Video Demonstration Of The Snap Cash Binary App
Here’s a video I captured showing one session I had with the Snap Cash Binary software. It was one of my best sessions with the software and I made $100 in an hour and a half. As you can see, the software exhibited a 100% win rate with a 5 winning trades out of a total of 5 positions opened by the software.
Keep in mind that since this session was filmed on a Sunday, not many signals were available. On weekdays many more signals will be provided including more commodities, currency pairs, stocks and indices.
SnapCash Binary Specs
|Software title||SnapCash Binary|
|Launched in||October 2016|
|Created by||Austin Ford|
|Login page for registered users||soft.snapcashbinary.com|
|Trader Demographics||Everyone, everywhere (except for a few countries in Africa and Asia.)|
|App compatibility||Android, iOS, Windows, Mac, Linux|
|Minimum required deposit||$250|
|Customer service||Eager to assist, available 24/7|
Snap Cash Binary Software Features
Signing up to Austin Ford’s software is extremely easy and the process features the usual steps. At the Snapcashbinary home page, one is required to provide a name and an email address. Once that is done, the trader is taken to a second page, which features another video message from Austin Ford and where the rest of the registration can be completed. In this second video, Ford provides registration-guidance. Traders will have to provide their phone number as well and -as Ford mentions – emails have to be accurate, because the software will in fact be periodically updated to keep up with the changing market-conditions.
Can SnapCash Binary Be Used On Autopilot?
Auto-trading function. While SnapCash Binary is focused on the above described format, which allows traders to say “yes” or “no” to the trading opportunities that pop up, it also has an auto-trading function, which can be activated by anyone, and which completely eliminates all human interaction. I personally haven’t given this feature a try, because I simply do not trust auto-traders on one hand… On the other, actually having a say in which trades are executed and which are not, was one of Snap Cash Binary’s main attractions for me.
Minimum Deposit And Success Rate
The $250 minimum deposit is rather accessible and most people can afford to part with that much to give this software a go. I certainly did and I didn’t grow to regret it, even though my results were much less spectacular than what’s advertised.
The snapcashbinary success rate is around 70%, possibly a few percentage points above it. That’s what I’ve seen from personal experience and that’s what most of the traders using the software have also said. While that is indeed well enough to generate profits on a consistent basis, it’s much less than the above-90% rates mentioned by Ford in his video.
The SnapCash Binary Platform
Snap Cash Binary is extremely easy to install and to set up. From the point when the decision to go for it is actually made, to when the trades start popping up, there’s possibly less than 1 minute, a couple of minutes at most.
The user-friendliness of the software is top-notch. Everything in the snapcashbinary interface is self-explanatory and one can indeed use the product without any prior experience in trading or specialized skills.
What’s The Catch? Why Is SnapCash Binary Given For Free?
Snap Cash Binary seemed to work for me. Again, my results weren’t impressive, but they were indeed in-line with what most of the other traders reported, and most importantly: they were positive. Will I continue using the Snap Cash binary software? I think my next step will be to cash out some money. I only plan to leave about $500 in. I hope it’ll work out!
SnapCash Binary Review Conclusion
Although its marketing-approach has been less than convincing for me, SnapCash binary did in fact work. I still do not know what makes it tick and that makes me uncomfortable, but the software delivered proof and at the end of day, that’s all that matters. I did not make use of their auto-trading function, instead choosing to approve every trade manually. It was more pain-staking this way, but at least it gave me an illusion of control. The bottom line: Snapcash Binary has worked for me.
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