Since stock market speculation has become available to the general public, many tools have landed on the web, making this activity even more accessible. Among these trading facilitators are R1 Profit, which offers analysis charts with so-called “guaranteed” profits. But is it really effective or is it a scam? Here is our review on the subject
A beautiful promise of profit
“Earning 100 € per day on the internet” is R1 Profit’s promise in its advertising. This tool, which in fact consists of analysis graphs, would indeed be the flawless method to succeed in trading and achieve maximum profit. The principle is simple. According to this technique, when the price of the asset is down for a certain period of time, you must bet on a decrease. And conversely, if the curves show an increase for a while, the trader simply has to predict an increase. And yet, stock market speculation is not so simple, although the principle of the binary option is easy to assimilate. Indeed, if the price of an asset takes only one direction for a certain period of time, this does not mean that it is the only direction it will take. There may well be a future twist, depending on economic movements. Thus, instead of making the trader earn money, the method proposed by R1 Profit will, on the contrary, make him lose a lot of money. If stock market speculation were so obvious, all traders would have already made millions in just a few weeks.
A real scam
In fact, R1 Profit, which is now known as 01 Profit, after being called M1 Profit, is not at all the kind of tool to use if you want to win in trading. If it has changed its name so many times, it is precisely in order to remain discreet after the browsers of its users. 01 Profit consists, in fact, in a real scam and takes money from traders via trading platforms. How does he do it? After convincing the novice trader with his advertising, he encourages him to deposit money with a broker and start trading. To do this, it collaborates with many brokers, most of whom are not regulated. He then collects commissions from these trading platforms, while the latter are enriched by the losses of their clients. Moreover, if it happens that the trader wins, he often finds himself unable to withdraw his profits. Reasons why – and we will never stop saying it – we must always choose brokers and well regulated trading tools such as TopOption for example.