Please need advice about this project

[kusanagi01]

Hello,

Thank you for entering and reading this post. actually I find this website: https://www.binaryx.com/
I want to know what do you think about it? I really appreciate your feedback. I see that they provide expert traders that you can follow to make your trades good. What do you think about this? Are there other websites that propose the same?
If you also have questions that can let us gather information about these projects

Hope can someone help.
Thank you.

[mk4]

Not saying that this is a scam, but I really wouldn't put my money on platforms that are new or quite unknown. Though I'm personally against doing copy-trading on "social trading platforms" as I believe that everyone should do their own research and due diligence, if I were to use one, I'd go with eToro.com. They've been around for a while now and they're simply more reputable.

[Banadony]

As long as they don;t charge you money to use their strategy. you can follow them but you must know that whatever is the out of such trade, you should not blame anyone for it. use at your own disgression. make sure that you apply your sense and never put all finance into their hand.  i sugguest you use bots to trade and you have to pay to get quality bots.

[sheenshane]

I don't understand why people always looking for a new exchange platform even they don't know yet or dont have a reputation yet.
There are too many reputable and proven that good exchange there if you avoiding possible trouble in the future.

This has the same concept as the eToro. It's just that this one is focused on digital currencies/cryptocurrencies. eToro and this site are using the same algorithm. This isn't a scam at all. It's just that you will let your professional trader of choice do their thing and you follow it.

The disadvantage of getting involved with these platforms is that you will never know when would you lose. There is a chance that they would control the winning and losing. That will slow your profit or in such a case, you might lose. Well, it's just my opinion please correct me if I'm wrong. So far I did not see articles that has a major complaint against them, you can try a little amount if you want.

[Bttzed03]

~
Are there other websites that propose the same?

There are plenty actually. eToro has already been mentioned and there are at least four more who have been around for quite some time according to this article



Take your time to read the above article as it gives you pros and cons of each platform.

Here's a more detailed article if you want more.


I don't trade that often and I don't feel the need to subscribe to these platforms. Maybe they are created to help amateur traders like you and me but they also come at cost. Perhaps it's better to use the money to buy some trading books instead of using it to pay for subscription fees.

[redsun114]

By checking the whois lookup for this website you mentioned, I can see that the domain is registered in 2008 which is even before bitcoins existed. This according to my angle of view seems like the domain is been purchased from a third party which might be the signs and symptoms of scam exchange.

There are hundreds of exchanges which are launched every month but many of those are scam exchanges so you should hardly trust any exchange which does not have high traffic or higher volume. If you want to follow any trader in order to make profits for your own sake than I would prefer you to start copy-trading with eToro. Perhaps that might be the platform you need and also you can find huge number of professional traders who allow new traders to copy them onto their platform.

[Potato Chips]

"Expert traders" but there's no way to verify how true is the statement... All I feel is doubt when I see them providing such services since it pretty much implies they aren't earning enough through trading to still jump on it.

Another thing is that they can use the users (you) to manipulate the market for their gain and it could be extra hard for beginners to see until it's too late.

Wouldn't recommend.

[stomachgrowls]

"Expert traders" but there's no way to verify how true is the statement... All I feel is doubt when I see them providing such services since it pretty much implies they aren't earning enough through trading to still jump on it.

Another thing is that they can use the users (you) to manipulate the market for their gain and it could be extra hard for beginners to see until it's too late.

Wouldn't recommend.

If we do just think up logically then these so-called expert traders wont really bother to jump in into a certain platform just for the public to follow them.
Making commissions or extra pay wont really an issue yet they can earn it on their own without minding or stressing their-selves on handling other people.
So i dont really believe most of the time about copy/follow trades.Talking about sites legitimacy, i cant still conclude yet but most likely this one is shady.

[fortunecrypto]

Hello,

Thank you for entering and reading this post. actually I find this website: https://www.binaryx.com/
I want to know what do you think about it? I really appreciate your feedback. I see that they provide expert traders that you can follow to make your trades good. What do you think about this? Are there other websites that propose the same?
If you also have questions that can let us gather information about these projects

Hope can someone help.
Thank you.

Better check an independent reviews or testimonials but if they offer free advice then why not try it with a small amount or check the result, ift hey offer free trial why not if they are offering paid subscriptions, the most important is for you to see how good are they in all their trading signals.

[Jating]

By checking the whois lookup for this website you mentioned, I can see that the domain is registered in 2008 which is even before bitcoins existed. This according to my angle of view seems like the domain is been purchased from a third party which might be the signs and symptoms of scam exchange.

Probably it has changed hands dozens times already.

The the OP, it seems that no one from this community has yet to used that platform so just be cautious. We all know that everything in crypto seems to be (psuedo)  anonymous and it's just a matter of time that someone will pull out an exit scam here.

My conclusion is that I wouldn't try that platform, just saying.

[bitmover]

Te The problem with those websites is that you can't trust they aren't trying to get your money


For example, they could buy a low volume altcoin and say "hey, everyone buy altcoin x now"
When the price goes up  they sell and after that "you can sell now"

[shield132]

By checking the whois lookup for this website you mentioned, I can see that the domain is registered in 2008 which is even before bitcoins existed. This according to my angle of view seems like the domain is been purchased from a third party which might be the signs and symptoms of scam exchange.

Probably it has changed hands dozens times already.

The the OP, it seems that no one from this community has yet to used that platform so just be cautious. We all know that everything in crypto seems to be (psuedo)  anonymous and it's just a matter of time that someone will pull out an exit scam here.

My conclusion is that I wouldn't try that platform, just saying.

Yes, it has really changed hands and web.archive.org is a great website to use when you are interested in history of particular domain. I really found some curious facts about this domain.
At first it was adult website advertising company in 1998 year, can you imagine? Then in 2003 it turned into low cost e solutions. Then idk what happened exactly in 2004, domain went into domain parking or something similar happened. Then it was sale on hugedomains.com and now I guess it's what I see.
Just in case if you are interested in social trading, OP.
Personally I would choose eToro because it has gained some trust among people and is very famous, it has a lot of users and traders that share their trading are getting rewarded. So this website gives traders possibility to get a lot of followers (because it has huge traffic) and in overall, a lot of people prefers to follow/share their trading strategy because of possible additional high rewards.

[harizen]

Hello,

Thank you for entering and reading this post. actually I find this website: https://www.binaryx.com/
I want to know what do you think about it? I really appreciate your feedback. I see that they provide expert traders that you can follow to make your trades good. What do you think about this? Are there other websites that propose the same?
If you also have questions that can let us gather information about these projects

Hope can someone help.
Thank you.

You can't really find good and decent feedback for now since the service is not yet live.

From what I understand, the "expert traders" will also come from their users and they will be determined by their good stats so I believed that everyone can be an expert trader there if they reached a certain tier. After that, these traders will now be on the list that now can be selected as an advisor that subscribers can follow.

I'm not just sure if there's a copy feature but from what I understand, these subscribers will receive regular notifications of what their followed expert traders will do. In this, subscribers need decent funds on-hand to somehow take advantage of those calls. Still at risk as these expert traders are also playing with the volatile market.

But honestly, if there's a copy feature, expect that you will have to pay a costly price for this. In Etoro on my last check just last year, it was around Php200,000 in my currency so that's around $USD4,000 in the current exchange rate. Not sure today what's the cost.

[Ridwan Fauzi]

Seems like this platform not much different with IQ option and olymptrade, right? Because I see all the feature of this platform is most likely same.

May I know, are you newcomers on trading field? If you are I must suggesting you to avoid this kind of platform. You will lose your money in an easy way.

And if I tell you that this platform is mostly like gambling. You just need to put your asset and guess the candle that will happen among red and trust and you will be win when your prediction is true.