Plenitude Formula is another over hyped binary options product created by someone claimed to be George Ackerman. We believe that whoever this George Ackerman person is, he is actually an actor and not a real trader.
A little bit about binary options trading, in case you are a newbie
Binary options trading is actually one simple method of making money online. Unless if you live under the rock in the past few years, probably you’ve heard about stock trading. In stock market trading, you only buy one asset when the market moves, or should we say up. Otherwise, if the market goes down, you simply close the position.
In binary options trading, you make money by choosing call or put. In other words, if the asset is going up, then you choose to call. If you think that the asset is going down, then choose put. This is not actually gambling, because real traders will know when the market is going up, or when it is going down, by using indicators, such as relative strength index (RSI), stochastic or moving average.
Is Plenitude Formula really free?
If you wish to see how the software looks like, then Plenitude Formula allows you to do so, that is by entering your name, email address and real phone number on the official website. Yes, you need to enter a real number, otherwise, the system will block your access. In case you are wondering, this is how the software looks like:
You might be skeptical at first because it was advertised as free, but yes, as you can see the dashboard is professionally designed and in exchange for your real phone number, you can access the software dashboard for free.
Looking for easy money? Yeah, here comes the auto trading button
The Plenitude Formula comes with auto trading feature/button that lets anyone trade with just a single click. As you can see in the dashboard above, all you need to do is turn on this switch.
You see, Plenitude Formula is targeting push button seekers who want easy money online. They don’t want to learn anything and let alone do the hard work. They just believe that people will hand them a real software that will make them money on auto pilot. That’s why so many people fell the victim for push button software like this.
Can Plenitude Formula make you free money?
Short answer: No (and sorry to disappoint). There is nothing in this world such as free money. Even if that money is free in terms of education or software, it won’t be free in terms of your time. In order to make the money, you need to deposit a $250 initial investment into their recommended broker, 23Traders.
Surprisingly, 23Traders is actually a regulated broker
23Traders is actually a regulated broker, and not a new broker anyway. This is being stated right on their own website. We have encountered several auto trading apps like these before, but usually, the recommended brokers are not even regulated.
In case you are new to trading, regulations mean the broker was approved by the local government before processing payment and handle people’s money. Even if you run a retail business, you need to have some kind of license to prevent fraud from your side. The same goes for forex or binary options brokers. Regulated brokers are much safer since they need to obey the law and refund your money, unregulated ones do not.
Why we don’t recommend Plenitude Formula
One big concern about the Plenitude Formula is the fact the auto trading function doesn’t contain specific information on how this product works. In other words, you cannot see what kind of indicators being used to generate signals.
Real software that works must use specific indicators, such as moving average, CCI, RSI and more. Most importantly, it must come with money management settings where users can set how much of their risk for every single trade. Otherwise, that software won’t be safe for anyone to use. It would be better if you can test the software itself on the demo account first.
Where to go from now?
In our opinion, Plenitude Formula is just another useless binary options software that just isn’t worth your time. You will have more luck by trying other binary options software in our recommended list since they can be tested in demo accounts, rather than putting your real money on the line right away.