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IMPORTANT UPDATE AND WARNING:

We have recently received complaints and read many negative reviews on the internet about regulated binary options brokers using indecent practice towards traders. Although some binary brokers may be regulated, we do not recommend opening a trading account with ANY broker, be it a regulated broker or a non regulated broker, as THEY ALL seem to be unethical and non-trustworthy, even the regulated ones! If you have been scammed by such a company you can check out our RECOVER FUNDS FROM BINARY SCAMS section.

Also, instead of trading binaries which are mostly scams, you can trade with a trustworthy and popular FOREX broker such as FXORO.



QBITS Mega Profit System – Scam or Not?

Are Binary Options Robots Regulated?

qbits review

What is QBITS Mega Profit System?

The QBITS Mega Profit System is a binary Options Robot that is (like all binary robots) an unregulated tool for binary options traders. The fact that this tool is not regulated does not mean that it is a scam or a fraud. Although trading robots are extremely risky and known to work in the short term and fail in the long run, lets take a deeper look into the QBITS Mega Profit System and see if they smell like a scam or like an authentic robot for binary options traders.

How to Sign Up With QBITS Mega Profit System?

After leaving our email and name we were asked to join the QBITS Mega Profit System “recommended broker” and deposit $500 before being able to access the system. As all we want to do is check if the robot actually works, we didn’t do this and instead we sent an email to the support team asking if we could try a demo account with the QBITS Mega Profit System before deciding to deposit any money with their broker. They emailed us back with a username and password for a demo account with their broker and we entered the account, immediately the robot started to make trades.

Does the Trading System Work?

So it is not regulated, it is a robot, it is highly risky, but does it work? In the demo account we started off with $500 and after about 15 trades it seemed like we were doing very well, we didn’t even have to click any buttons, the system just kept making more and more trades and after loosing 5 trades and winning 10 trades we were now at $1,500 in our account. Nice!

We decided to pause the account and not let the robot trade by itself so that we could witness the trades by ourselves. The next day we went back into the demo account and low and behold, still $1,500 in the account. We set the system to auto-pilot and within no time with another 10 trades we were at $3,000. But it was all downhill from there. The next 30 trades or so were win-loose-loose and again win-loose-loose until or account was at a $0.

Like most binary options robots and automated forex trading robots the QBIT Mega Profit System works in the short term but does not know how to work in the long run, this means that if you do decide to use it you should pause the system and BANK-OUT when you realize that it has reached its peak and is now loosing money! If you do this wisely you will be able to bank-out while you are at a high winning point and make a large profit.

QBITS Mega Profit System Disclaimer

The QBITS Mega Profit System disclaimer says that they are not allowed to work with USA residents and are not allowed to solicit USA traders. QBITS also says in their disclaimer that “does not guarantee or represent that members acting upon any suggestion mentioned or discussed in any of the services we offer, will result in a profit.” These 2 things mean that if you are a USA trader QBITS will not work with you. It means that if you loose all your money trading with the QBITS system they will not be liable and that basically anything that they tell you in their video and promotional content may not be true!

Conclusion

If you do decide to try out the QBITS Mega Profit System even though it is not a regulated or licensed products just like all or almost all binary options robots, you should try it out with a small deposit and be in-front of your screen while the robot makes trades, if you see the robot hit a high profit and then start to drop and loose money, pause it and bank-out before it looses all of your money, robots usually work only in the short run and almost never in the long run.