Peter Millen just released a binary trading robot through the company he is a CEO of. We are talking about the Nuvo Finance binary software, promoted as free and profitable. It has been developed with the help of his supposed college friend Will Slate, who is also CTO of said company.
We investigated with effort and in depth the Nuvo Finance trading system, as there is always a risk for a nice-looking robot to turn out to be scam. Our preliminary results left us with the opinion that the NuvoFinance binary robot is not reliable. To find out more details why, you should read the full review below.
Top Binary Options Robots
|Robot||Win Ratio||Open Account|
|Up to 200%||
- Price: Free
- Software: Automated
- Max Returns: 100%
- Min Deposit: $250
- Not Proven to Work
- Empty Claims
- Fabricated Results
- Unreliable Broker Partners
Not Reliable Service
What Is Nuvo Finance Software?
Nuvo Finance is a system for algorithmic trading. It has been specifically developed to run on complete autopilot. Its creator Mr. Millen claims that they have developed a binary options robot that has not lost a trade in the last 6 months. But all those claims of 100% accuracy and profitability cannot be verified in any way.
While investigating into the case of the Nuvo Finance software, we failed to acquire evidence that the robot can do what it is promised to do. On the contrary, there is a significant amount of negative feedback, provided by traders who have signed up for Nuvo Finance without investigating first. The success rate of the robot fails to achieve more than 30% accuracy, which is far below the average of the industry.
How Does NuvoFinance Work?
According to Peter Millen, the NuvoFinance software follows market patters and makes trading decisions based on them. Every other trading robot does exactly that. There is no special algorithm or principle1 that can help Nuvo Finance achieve high accuracy. It is an ordinary code that has not been proven to be effective.
What attracted people to the Nuvo Finance software at first was the promise of average returns of $6,500 per day. This is not far-fetched and in our practice we have investigated other systems that manage to deliver on similar promises. Such a trading robot is the FinTech Ltd. software, which has been proven to work and verified as reliable. This is not the case with the NuvoFinance system. Given the fact that its performance is far below the average for the industry, it is incapable of achieving the results that traders have been made to believe it would.
Is Nuvo Finance Scam or Safe?
Everything we discovered about the Nuvo Finance trading software while investigating it, shows us that it is not a legitimate and authentic system. It is built on fake testimonials, fabricated results, and empty promises. Even Mr. Millen is not a real person. We failed to discover evidence that he is not fabricated.
This unambiguously shows us that the status of Nuvo Finance is most likely scam. As professionals, we advise you to consider a genuine alternative. For safe trading use Fintech Ltd.
Nuvo Finance is not a good trading choice. It cannot optimize your experience with online investments2 and lacks features that can enhance profits. Even its customer support is of very poor quality.
All in all, NuvoFinance and its scam status should be approached carefully. If you decide to make a deposit of $250, you risk losing all of your investments.
Our investigation team conducted a comprehensive investigation on Nuvo Finance to find out if this product is genuine. As a result we cannot say that there was enough evidence indicating if Nuvo Finance is generating high profits. We found many reasons that made us suspicious about this robot being a scam.
In order to protect traders from bad trading experience and financial loses we recommend you to
I am David Raines, a Binary Options trader with years of experience in online trading. I write reviews of Binary Options Brokers, Auto Trading Software and Signals Providers.
References & Further Reading:
1. Optimal Control of Trading Algorithms: a General Impulse Control Approach (Bouchard, B., Dang, NM., Lehalle, CA.; Journal of Financial Mathematics – 2011)
2. Empirical Case Study of Binary Options Trading (Giunta, G., Benedetto, F.; International Journal of Interdisciplinary Telecommunications and Networking (IJITN) – 2012)