There is a new binary options software released onto the online market and going by the name of Plenitude Formula. It is created by a guy called George Ackerman – CEO of the company behind the robot – Plenitude Formula Group.
The automated trading system focuses mainly on the conduct of financial operations involving commodities and its platform allows users to copy each other’s investments. We carried out an exclusive investigation into it in order to determine whether it is scam or legit.
Our inquiry proved beyond a doubt that there is something quite dubious about the Plenitude Software as it bears close resemblance to several scams circulating on the Internet. There is no guarantee that online users will be performing risk-free trading if they sign up with it.
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What is Plenitude Formula?
This binary options system is supposedly created by George Ackerman who came across a top secret financial formula when he was experiencing a mid-life crisis. According to his very own words, he was ‘broke, unhappy and desperate’ as his father had just passed away and his girlfriend had left him.
Mr. Ackerman started up the Plenitude Formula Group in his very own two-bedroom apartment in New York. The company was an advisory group, issuing regular newsletters with market briefings and investment notes for a number of high-end firms.
Although this information sounds very promising, we were not able to come across data that actually verifies it. There is very little information available about George Ackerman and he lacks even social media profiles.
There are actually a couple of other binary automated robots that present absolutely the same background story as that of the CEO and founder of the Plenitude System. Users should keep in mind that creators of shady software will often use the same marketing tactics in order to make more people sign up.
How Does Plenitude Software Work?
The PlenitudeFormula Software implements computer codes which enables it to trade commodities exclusively. Our inquiry has managed to find out that this is not exactly the truth as it features assets from the other three kinds.
If also has a copy-trading feature, allowing its users to mimic each other’s successful investments. One should be very careful when proceeding to carry out this type of financial operationson the Internet as it is not 100% sure whether Plenitude Software displays actual results or just ones that are randomly generated by the robot.
Is Plenitude System a Scam or Legit?
While this automated investment software is brand new and it still has time to prove that it has the capacity to place just the right trades, there is no hard evidence of this for the time being. Our research and the efforts we put into it were also unable to determine whether creator George Ackerman is an actual person or not.
Based on all of the above, we consider the Plenitude System to be a likely scam and advise all users to sign up with a proven to be legit software.
The matter involving Plenitude Formula’s scam or legit status still remains uncertain. Online traders are best advised to avoid using it for the time being and open an account with a truly approved and trustworthy binary options software. This system might not be capable of delivering the promised success rate of 98%.
Our investigation team conducted a comprehensive investigation on Plenitude Formula to find out if this product is genuine. As a result we cannot say that there was enough evidence indicating if Plenitude Formula is generating high profits. We found many reasons that made us suspicious about this robot being a scam.
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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. Intra-industry trade in identical commodities (James A. Brander – Journal of International Economics, 1981)
2. Informal Norms as a Bridge between Formal Rules and Outcomes of Government Financial Operations: Evidence from State Balanced Budget Requirements (Daniel L. Smith, Yilin Hou – Oxford University Press & Journal of Public Administration Research and Theory, 2009)
3. Stock trading before the announcement of tender offers: Insider trading or market anticipation? (Gergg A. Jarrell, Annette B. Poulsen – Journal of Law, Economics & Organization, 1989)
4. Why does stock market volatility change over time? (G. William Schwert – Journal of Finance, 1989)
5. The interrelation of stock and options market trading-volume data (Joseph H. Anthony – Journal of Finance, 1988)
6. The behavior of daily stock market trading volume (Bipin B. Ajinkya. Prem C. Jain – Journal of Accounting and Economics, 1989)
7. A new architecture of online trading platform based on cloud computing (Journal of Qingdao University, 2010)
8. Electronic contracting in online stock trading (Subhasish Dasgupta – Electronic Markets, 2007)
9. System, method and computer program product for online financial products trading (Reid Heffner, Gabriel Minton, Jonathan Poletti, 2003)
10. Recent trends in trading activity and market quality (Tarun Chordia, Richard Roll – Journal of Financial Economics, 2011)