Sunday, August 10th, 2014 by Michael Freeman
Is ITM Genesis Elite a scam?
My quest to find if the ITM genesis Elite is legitimate, landed me on a YouTube video by a fairly believable individual by the name of Randy Churchill and in his video, ITM Genesis Elite – Does The Software Work?, he mentioned how in the ITM Genesis Elite promotional videos, the promoter demonstrated live trades with a %100 a winning trading record. In fact, this promoter appeared to have posted lot’s of videos showcasing a flawless performance using the ITM Financial products such a the ITM Genesis Elite. Can anyone truly achieve such “excellency” with online trading?!
ITM Genesis Elite Live Trades – Real or Fake?
I seriously question the authenticity of the trades and wonder if they were made using a live trading account or from a demo and as Randy stated “Binary International (the broker synced with ITM Genesis Elite) provides traders with a free demo so anyone who is interested to promote the ITM Financial Products (ITM Genesis Elite, GCAD and so on..) can register a free demo account and selectively showcase the most accurate trades and spam YouTube with promotional videos.”
It doesn’t take a math genius to showcase %100 winning live trades “risking” $1000’s of dollars on each trade,while you’re trading on a demo account and since demo and a live accounts are identical, viewers can’t really evaluate the true performance of the product and know if the trades are made with real money.
ITM Financial Products – Simply CRAP?
Another point Randy made is in regards to the alleged track record of ITM Financial of releasing “worthless” products and advertising the same products with different names. The main products advertised by ITM Financial are the ITM Platinum Pro, ITM Platinum Nexus, The GCAD Indicator and the ITM Genesis Elite, apparently all pointing to BinaryInternational.com trading platform, requiring traders to register an account and in addition to pay a software fee of up to $4,997! This is just in the case you’re planning to buy the ITM Platinum Nexus life-time membership…On the product description, they epically quote: “for serious traders only”. It seems to me like they’re trying to catch a ‘big fish’ in an ocean of traders who are looking for a decent software.
Randy sums it up in one word, ‘CRAP’ and to add fuel to the fire, apparently Michael Hodges from Binaryoptions.net is also not such a big fan of the ITM Financial products, according to his article titled “GCAD Indicator from ITM Financial Comes with a Catch” he emphasized the deliberate and obvious false advertising associated with the way in which ITM Financial sells the GCAD Indicator as a trading system while in reality it’s just another Technical Analysis Indicator, originally developed to spot trends for the CAD/JPY currency pair. The GCAD indicator is an Oscillator which can be found on MetaTrader 4 and many other charting solutions. What’s left to say? I am inclined to agree with randy’s statement “It’s CRAP” as well as with the point made by Michael Hodges in regards to the fine work of sugar-coating indicators into fancy looking products, however I am still interested to get some feedback and comments from traders who are using or previously used any of the above products so we can get a precise idea of what kind of performance one might expect.
Binary options trading requires a system that can take into account the broker’s entry/expiry times. Traders often miss out on many ideal trading opportunities when the signal services are sending them signals with an expiry that’s not available on their trading platform. It is frustrating to receive a strong signal and realize you can’t safely trade it. This is an issue that caused many signals services to fail, the inability to generate signals that match their clients platform’s expiry times.
I am still not confident in my assumption that ITM Genesis Elite is a scam, perhaps it’s just a nicely wrapped product with no real substance or maybe it’s based on real indicators but doesn’t meet the advertised performance. In order to properly evaluate ITM Genesis Elite, GCAD Indicator or any ITM Financial / BinaryInternational.com products I would love to get your feedback, comments and detailed experiences.