Forex Binary Options System Kraken
In this modern era, nearly every aspect of our life has been automated. For instance, nowadays, you don’t have to an actually pay a visit to a restaurant for a can of your favorite beverage; you just have to use an automated machine to get your hands on your favorite drink. Financial markets have not been spared either. Developers have gone ahead to developing cutting edge systems to implement specific algorithms aimed at making trading easier and attractive to novices. As of today, binary options trading boasts of hundreds of trading systems if not in their thousands. However, some of the trading systems are non-functional and were only developed to either generate traffic for a scam broker or as a tool for identity theft. To ensure that you don’t lose your footing by using a scam system, we usually compile detailed trading system reviews. Today, will be reviewing Kraken.
Kraken is a binary options system which is built to specifically trade forex. That is, the underlying algorithm can only be successfully implemented on currencies. It’s therefore illogical and a complete waste of time for a trader to try using the system with other underlying assets such as stocks or indices. So, is Kraken a scam system or does it actually work?
In the binary options world, some trading systems are actually free while some come at a cost. Usually, free systems underperform compared to systems having a price tag since after all, they are free!
Kraken system is not free at all and a trader has to make a onetime payment of $197 to gain full access to the trading system. The system is currently retailed at Clickbank marketplace.
To make trading systems more effective, developers usually custom-develop them for specific assets, meaning that, the systems can only generate and/ or trade specific assets.
As previously mentioned, the Kraken system can only be used to trade forex or currency pairs. Interestingly, apart from being asset-specific, the system is also market-specific. The system can only be used to trade the euro (EUR) currency over the New York trading session. Also, the system can generate signals on the volatile EURUSD currency pair.
Success rate and profitability
From the statistics posted on their official website, Kraken has a monthly success rate of 85%. However, it’s worth noting that the success rate may be inaccurate especially if it was engineered to generate more sales. In terms of profitability, if the statistics displayed on their website are entirely true, using their system can generate a lot of money.
So, does the system work?
Judging from the available user reviews, the working of the Kraken system is doubtable where some users expressed frustrations of failing to earn the promised profits and instead, the system ended up draining their bank accounts. A few users however heap praises on the system’s performance.
From the introductory video on the system, Kraken is portrayed as a cutting-edge trading system generated with the novice trader in mind. However, if the available user reviews are anything to go by, the system does not perform as the video suggests. Therefore, utmost caution is advised when using this trading system.