About 1K Daily Profit
Allegedly founded by John Becker after he and a partner at Goldman-Sachs made a breakthrough discovery, the 1K Daily Profit software claims to use a never-before-seen algorithm to win trades with 99.8% accuracy. So accurate, in fact, that most members are promised to make a minimum of $1,000 per day—with just one hour of work.
Even more astounding is that John claims the 1K Daily Profit software works using auto-trade functionality, so you don’t even have to be at your PC, laptop, tablet, or smartphone. Just click the auto-trading option up top, and let the software do the rest for you.
According to John, anyone can use the 1K Daily Profit system as much as they’d like—even those without trading experience—and what’ll you be doing is 100% legal and ethical.
Just what will you trade using the 1K Daily Profit software, though? Is it really possible to make $1K per day? Or, is this just some scammy get-rich-quick “opportunity”? That’s what we’ll help you uncover in this review.
1K Daily Profit: Behind the Scenes
If you sat through the whole 1K Daily Profit video, you probably already know this. But in case you didn’t, here’s everything in a nutshell.
Despite what “John” tries to tell you, the 1K Daily Profit software isn’t anything special. Instead, it’s just a basic web-based platform hosted on the CT Option website (more about these guys in a second) where you can trade binary options.
If you’re manually using CT Option’s software, then you’ll basically have two options: a call, which means you think the price of a commodity will go up within a certain period of time, or a put, which means you think it’ll go down. On the other hand, you can use the automatic feature, which will choose which trades to place on your behalf.
In either case, trading binary options has just as much risk as any other investment, so it’s definitely possible to lose all of your money. And since binary options can often be traded in a matter of minutes, your money can be lost very quickly.
Even the 1K Daily Profit website mentions, “Important Risk Note: Trading binary options can generate significant benefits but also involves a risk of partial or full funds loss and should be considered by initial investors.”
In a nutshell, there’s almost certainly no unique algorithm behind the CT Option trading platform. Instead, we think the 1K Daily Profit system is simply a made-up marketing campaign to convince you to sign up for a CT Option account. Why do we think this? Keep reading to find out.
Other Binary Options Platforms Like 1K Daily Profit
The reality is that this sales angle is nothing new, as we’ve seen most of these exact same claims (e.g. 99% accurate, proprietary algorithm, developed by some high-level executives, only available to a select group of people, etc.) in other products, including Fast Cash Biz, Quick Cash System, 3 Week Millionaire, and more.
In fact, CT Option is not only the brokerage firm behind 1K Daily Profit, but also 7 Figure Club.
In all of these instances, they end up being nothing more than elaborate sales funnels for non-US brokerage firms who specialize in binary options. Invariably, customers complain that they quickly lost money (one HighYa reader claimed he lost his entire life savings) and that they frequently experienced high-pressure sales tactics.
And it’s not just here on HighYa. BestBinaryOptionsSignal.com came right out and called the 1K Daily Profit system a “scam,” and the sentiment was the same for CT Option on this BinaryOptions.net forum thread.
From a company perspective, CT Option appears to be based out of London and the Caribbean, so they weren’t listed with the Better Business Bureau. And since your trades are taking place in a non-US account, laws and fees governing your trades might be different.
Is 1K Daily Profit Really Free?
As we already discussed, the 1K Daily Profit software operates over the internet, so there’s nothing to download. So, entering your email address and contact information on their website simply starts the signup process for a CT Option account.
technically, signing up is free, but in order to begin trading binary options, you’ll have to complete the registration process and deposit a minimum of $250 into your account.
Pro tip: Many customers have complained that their CT Option broker convinced them to deposit more into an account, so be prepared for some upselling if you decide to complete the registration process.
Unfortunately, the CT Option website doesn’t provide any information about their fee structure. But in general, binary options firms aren’t exactly known for their user-friendly fees.
The Bottom Line About the 1K Daily Profit System
What we’re ultimately left with here isn’t whether or not you should sign up for the 1K Daily Profit system, because it really isn’t a “system” at all. Instead, you want to know if 1) trading binary options is right for you and 2) if it is, should you open a CT Option account?
Do people make money trading binary options? Sure. Is it necessarily something the pros tend to use? Are you guaranteed to make $1K per day? No and heck no. Just like any other investment “opportunity,” if someone’s guaranteeing that you’ll make huge profits with no experience and zero work needed, your scam alarm bells should start ringing loudly.
But even if you explore all the different binary options trading strategies and decide it’s the right path to take, there are dozens of brokerage firms to choose from, several of which seem to have more positive online customer feedback than CT Option.