Bahama Banker is a free binary options trade signaling program and auto-trader purported to provide users with high levels of success in the financial markets.
What Is Bahama Banker?
Bahama Banker is supposedly the brainchild of Herald Beckman, a British private banker who lives and works in Nassau, the capital city of the Caribbean country of the Bahamas.
Bahama Banker is a free software program that claims to use sophisticated algorithms to analyze market conditions and history in order to successfully predict how the market will react in the future.
The software also has added functionality in that it can place automated sales for users based on its analysis. The company claims that the Bahama Banker software is more than 90 percent accurate in its market analysis and predictions.
Beckman claims that using his software can earn individuals as much as $1,200 a day or sometimes even more. The only requirement is to deposit a minimum of $250 into a broker associated with the Bahama Banker program, and this will supposedly unlock almost unlimited earnings potential.
Beckman claims that he does not need to charge for his software, as he already gets 1.5 percent in commissions on every trade.
Bahama Banker backs these startling claims of financial success up through a large number of testimonials, both in print and in a video presented on the Bahama Banker website.
Cursory internet searches reveal that Bahama Banker is almost certainly a scam.
Several reviews point to “Herald Beckman” being a fictional character, and that video and images of individuals providing positive testimonials are either from paid actors or have been sourced from stock image sites.
While there is no information regarding the true owners or operators of Bahama Banker – the website registration is private, and there is no physical address listed – the site is almost certainly not operated out of the Bahamas.
Buried deep in the site's Terms and Conditions is a clause stating that the site operates under British law, and that any and all legal matters will be settled in a court in London.
The Bahamas are of course a former colony of Great Britain; however, today they are an independent Commonwealth, subject to its own laws, and a company operating out of the Bahamas would not need to have its legal proceedings occur in London.
When it comes to binary options trade signal programs and auto-trader software, there are all too many opportunities out there for scam artists to separate credulous investors from their money.
Many of these programs are offered “free” to users, with the caveat that they make a minimum $250 deposit with a specific broker or selection of brokers, with the scam being that the broker pays the company a referral fee for finding them a new account holder.
The truth is that there are binary options trade signal software programs out there. However, any that offer a success rate of 90 percent are most likely suspect – as are ones that are set up in such a way as to be “free” but require users to sign up with a particular broker as a new account.
The results of using such a system will likely be little to no success playing the binary options markets, which will inevitably leave you with no money, no recourse, and no refund if you do lose your shirt.
There are more legitimate ways to become involved in binary options trading. However, there are no “quick and easy” methods for doing so as advertised by Bahama Banker.
It is highly recommended to steer clear of this site, as it does appear to be nothing but a scam according to a multitude of independent reviews.
Combined with the lack of any transparency when it comes to ownership information or physical location, there is little to engender any sort of confidence in Bahama Banker's legitimacy as an income earnings opportunity of any sort whatsoever.