I came across several binary options systems lately, and all of them claim to help you make thousands of dollars a day. Is 30 Day Change, a relatively popular binary options software any different? More importantly, is 30 Day Change a scam?
Name: 30 Day Change
Owner: Simon Crain
Price: $250 min. deposit
Legitimate? NO, IT’S A SCAM
(full list of all reviewed scams)
30 Day Change Review
30 Day Change has a refreshing and professional website layout, unlike the other binary options software pages we have reviewed before. However, does it make the system any more legitimate than other binary options softwares? Let’s find out in this review.
30 Day Change is an automated binary options trading software, just like hundreds of other trading robots out there. The users need to have a binary options trading account, download the software and let it trade for them automatically.
The system claims to help you make an extra $558 a day, $3274 a week. Not sure how they came up with the exact figures, but that’s a big claim nonetheless.
30 Day Change automated trading robot is 100% free for the first 30 days, and they only take 3% of your profits as fees after the first 30 days.
So far so good. However, there are some facts that 30 Day Change conveniently left out in the sales material. We’ll come to that in the later part of this review.
What Is Binary Options Trading?
Before we go further, we want to make sure everyone is on the same page. For the folks who have never heard of binary options before, here’s a simple explanation of how it works.
Binary options is basically trading stripped down to its simplest form. Instead of reading up news and analyzing charts, you predict (guess) whether the price of an asset will increase or decrease after a short period of time, usually between 30 seconds to 5 minutes.
If you predict (again, guess) correctly, you get to earn a percentage of what you bet. Typically, a minimum binary options trade costs you $10. Let’s say you earn 80% of the trade if you predict correctly, you will earn $8 from that trade.
However, if you predict wrongly, you lose the entire sum that you bet.
While it sounds easy enough to execute, profiting from it is a different story. You’ll lose money even if you manage to win 50% of your trades, the odds are never in your favor.
Please note that we do not recommend binary options if you want to make serious money online. There are simply better alternatives out there that are more predictable than trying to gamble your way to wealth.
What 30 Day Change Didn’t Tell You
30 Day Change software claims that they can make money for you at NO RISK. While there is no risk in downloading the software and letting it trade for you, they conveniently left out the part where your capital is at risk.
The sales claim is constructed in the way to mislead unsuspecting users into thinking that there is no risk at all to use their software. And it was never mentioned in anywhere of the sales material that it is a binary options software, possibly due to the fact that binary options is widely known as an extremely risky instrument.
It’s only stated in the earnings disclaimer fine prints that no guarantee is to be made for the earnings displayed, and that 30 Day Change is not to be viewed as a “get rich scheme”, despite the attractive daily and weekly earnings displayed in the homepage.
Speaking of capital, you have to make a $250 minimum deposit with their designated brokers to automate your trades with their software.
The deposit will come as no surprise for those who have traded binary options before, but complete beginners may receive an unpleasant surprise knowing that they have to deposit a sum of money before they get started.
There is no mention of initial deposit required in anywhere of 30 Day Change sales material. All you know is that you will earn thousands of dollars weekly using the software alone.
Is 30 Day Change a Scam?
We wouldn’t call 30 Day Change a scam, because it does provide an automated trading service at no additional costs. But to be honest, 30 Day Change did not reveal all the truth in their sales material either.
Apart from requiring you to sign up with their partner brokers and putting your capital at great risk, there have been consumer reports of delayed trades using 30 Day Change and their brokers.
There were cases where a trade turned out to be a loss instead of a win, because the asset price has moved in the opposite direction during the delay. The delays are reported to be between 10 to 20 seconds.
Should I Try 30 Day Change?
As we’ve said in the review earlier, we don’t recommend binary options trading as a way to make money online, at all. It’s not that different from gambling, and using an automated trading software is no different. You are essentially putting your hopes and entire fortune in a piece of software that gambles on your behalf.
You are more likely to end up losing all your money than making any significant profit. If you have some cash to spare for entertainment, you may go ahead and try it out.
However, if you are determined to make money online, you must use a legitimate program that will provide you proper trainings and help you build your own business. We have tried out many programs, and there is only one program we recommend to our readers:
Have you encountered any online scams before? Personally I’ve fallen for a few before coming across the legitimate one, so let us know in the comments below if you have any personal experience to share!