“Scam Owls” or maybe just Night Owls Signals Scam Software is what they should have called this instead. Our review found it’s the only way to accurately describe their paid trading software. There are good trading robots and services available to the public for those looking for binary options trading apps that can produce steady, reliable results. Most of these companies are open and transparent about how their systems work and offer support and even a broker bonus to help novice traders out. But conversely, we have reviewed loads of companies peddling binary options trading software that claim to help you reap huge payouts but who exaggerate claims about their effectiveness. These companies are really shams, and Night Owls looks a lot like them.
Scam Clues Abound
The first tipoff that something may not be right about Night Owls Trading is their website nightowlsignals.com. There are only two icons you can click on: their members log-in and their “Subscribe” button which directs you to a page asking for credit card information. That’s it. Of course, there’s plenty of marketing materials and “Five-star reviews” by about a dozen subscribers purporting the effectiveness and profitability of using this auto-trading signals service. But no other pages on their site answer any questions, explain their software and their company personnel and how they work nor give any kind of additional background of the company. There’s no transparency, just the standard, extremely fine print spiel about how “Earning potential is entirely depending on the user”, way at the bottom of the page.
Another sign that something is amiss here is how they operate. Night Owls Signals offers two morning sessions per day, Monday-Thursday. To get access to these sessions, you only have to pay the $87 subscription fee…..a continuous, bi-weekly subscription fee, that is. This amounts to $188 dollars a month, or $2,262 dollars a year. This price is especially disturbing since there are plenty of other binary options signal providers that charge significantly less for such a service. You have to wonder, then, what the Night Owls Signals robot is offering its proprietors that they wish to pass onto you that the others aren’t. Is it a higher ITM rate, or more trades or different service options? Again, no background materials or information is available on their website.
No example of the kinds of trading robots they use is shown, whether they use a type of forex algorithm to determine when certain trading indicators are present or a self-developed auto-trading robot. Additionally, as any investor will tell you, a trader’s own experience (in addition to other strategies and methods and different algorithms they have learned about in the investment sector) is a better indicator of how effective any given trading software is rather than claims made by the software company itself. That should be the indicator of a auto-trading robot’s effectiveness, not the company’s sparse and vague marketing materials.
Review: “Testimonial Evidence”
Then there are the testimonials from people who used Night Owls Signals. First there are the generic 5-Star reviews on their home page, which anyone can tell are easily faked and forged. No full names or pictures accompany these reviews are shown to help people researching this software so they can verify these claims in any way. You start to doubt whether or not the people behind Night Owls actually exist when just on the home page.
But then a search on YouTube does indeed result in the advertised live webinars recorded by attendees who purport to show this software’s signals trading in action. This footage stretches credibility for even the most gullible consumer. In the first video found, Night Owls advertises a 58% win rate; you can’t even profit from a 58% ITM rate with binary options robots in real life. So there are obvious discrepancies between their marketing claims and their actual results. And those researching the company soon learn that each session only delivers 2-3 signals per session. For the $87 dollar bi-weekly fee, this seems way to little for what you’re paying them. Such a fee indicates a more robust and well-research type of training that should yield more than a 58% ITM rate with binary options robots.
Even worse, this is the full extent of the kind of video evidence you can find online. There is not picture or video of the Night Owl Trading room where these signals are discovered and recorded or any screenshot of the trades made with this signals service training. There are video testimonials purporting the effectiveness of the Night Owls system to be found online. These are clearly paid actors procured from Fiverr.com or similar services.
We’ve seen this actor before, peddling other products and services!
Even more damning was the fact that the name of the company’s or the type of service it provides isn’t even mentioned in these videos. No additional information explaining the auto-trading system advertised is provided. It seems these are just generic positive testimonials that can be used for any service the people who bought these videos want to sell, reputable or otherwise. When the only video promoting the positive results of the company’s service don’t even say the name of that company, you know something is likely a scam.
The single aspect that may be interpreted as “positive” about the Night Owl Trading Room is the 60-day refund they offer. This indicates that this company most likely relies on the fact that people often forget to cancel subscriptions to similar online services. Think about how many online providers ask for credit card information before approving access to their content. This is why, because they know that people often forget they’ve signed up for that streaming site or a digital membership to a specific magazine. So yet again, this is another positive selling point that the company may be trying to subvert and exploit for less than benevolent and honest purposes.
This is very disappointing, since there are plenty of reputable services and regulated brokers online available for day-trading who can provide those new to the investment world actionable information and strategies instead of scams. Plenty of online brokers and binary trading software companies are providing honest and verifiable financial services that can produce real-world and reliable results for those interested. Many of the more respected companies will offer a free demo account with plenty of additional guidance to help you make informed decisions for free. Unfortunately, Night Owls Signals Software and their “Trading Room” don’t appear to be one of them. They only appear to offer an opportunity to be scammed.