Mylive Trading is a suspicious website selling Binary options signals that lose money. It’s an extremely dangerous service that we can’t even recommend in our list of good trading resources for all investors.
The website’s address is mylivetrading.com and according to the promotion material, the vendor can help traders make consistent profits from Binary options trading.
Mylive Trading is one of those vendors that rely on hyping to create a seemingly profitable trading service.
For example, the website claims that the signals have a win rate of 97.99%. They also claim to have 15+ years of experience behind their back.
However, there is no introduction of who the owners of mylivetrading.com, meaning it can be very difficult to verify this experience.
This is really unprofessional as a trading service can only gain the trust of an audience by making a proper introduction and giving valid reasons as to why they think their service is worth spending money on.
From the word go, we didn’t trust this signal vendor. There are many reasons as to why mylivetrading.com is a financial risk and a gamble as opposed to a legitimate signal service.
Details of Mylive Trading Binary options signals
The signals are offered by strangers who collect affiliate commissions from Olymp Trade (if you sign up using their link).
The service touts packages where traders can expect 8 signals, one on one mentorship, money management strategy and a very abnormal win rate of 97. 99%.
MyLive Trading proceeds to list down 3 of their packages starting with $49/monthly, $139 bi-annually or $259 annually.
They also claim that trading is fun and there is minimum risk. The only thing we need to do is join their Telegram channel and highly accurate signals can be sent to us “after deep analysis”.
This is basically someone saying we just copy-paste their trades and we will be making a lot of money from Binary options trading.
The truth about MyLive Trading
If you look at this vendor’s website as well as the way they utilize wording, you will immediately think they are profitable.
Their Telegram channel has over 8,000 members but this is a good example of how deceptive internet marketers use Telegram services to create a fake following which gives the impression of legitimacy.
That aside, the people who run this service can’t provide any proof of their extremely high win rate.
I have never saw any of their trading performance which documents how they were able to generate this crazy win rate on their trades.
In short, their claim is not verifiable. If they are this profitable, why are they desperately begging for peanuts in subscription fees?
$49 in monthly subscription is not the worth of a signal service that generates this kind of profit.
Lastly, these dudes are anonymous. While they are faceless, they would like us to believe that their business is legitimate, even though they don’t even have a valid physical address.
Mylive Trading is selling snake oil, not profitable trading signals. Furthermore, we’ve never heard of any consistently profitable binary options traders.
This is because the nature of Binary options trading can’t allow it. The broker’s profit is your loss in all binary options trading operations.
The broker can’t allow your profits and subsequently withdrawals. This is why Binary options is a scam.
Any product that sells “profitable binary options signals” is therefore a hoax.