Satellite Trader is the name of a brand new Forex system that seeks to provide risk-free trading. Its founder & CEO Richard Heffner claims that the software operates using satellite technology. By doing so, it is supposedly capable of carrying out 24/7 monitoring of the world’s financial markets.

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Thanks to the applied operational principals, the profit-amplifying solution can allegedly analyze information 94/100ths of a second faster than the other online robots. We performed exclusionary research into SatelliteTrader and the results did not come back very promising.

The Forex trading software is the re-branded version of a dubious system that circulated around the Internet a couple of months ago. This review will examine all the possible and existing links between the two.

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Basic information:

  • Price: Free
  • Software: Satellite Technology Software
  • Max Returns: 80%
  • Min Deposit: $250


  • Browser-Based
  • Good Concept


  • Non-Existent Creator
  • Not Proven to Work
  • Links to Scam System
  • Requires Internet
  • Inaccurate Signals

Top10BinaryDemo Verdict

Not Reliable Service

What is Satellite Trader System?

The man who is the CEO and has actually founded the Forex software – Richard Heffner states that it has been in development for years. While the software was still in its early testing stages, he allegedly helped 29 people become very wealthy. Mr. Heffner further states that his bank account will attract the attention of media around the world.

Our research into his persona reveals that the bare facts are not quite like this. We were unable to come across any sufficient information backing up his claims. There is also a very high risk of him not being an actual person as there is no reliable information verifying that he is.

Heffner does not have any social media profiles, nor is there any data that he was ever involved in the creation of a company.


How Does SatelliteTrader Operate?

The income-generating solution supposedly utilizes GPS technology[1], so that it can earn users a supposed average of $850 per hour. Our inquiry, however, reveals that this scientific field has little to do with the process of analyzing data, yet alone financial one.

Satellites can for a fact transfer signals around the world and every person in the world uses them when he tries to look up something on the Internet or call someone who lives in another country.

But the Global Positioning System is not responsible for the gathering and processing of particular bits of information, just for its delivery to the end user.

Fun Fact:

Creators of Forex trading systems have tried for a very long time now to implement different kinds of technology into the programming algorithms of software. There have been only a few actually proven to be successful examples of this, but they involve AI, robotics and quantum computers.

Is SatelliteTrader Software a Scam?

All the available data on this Forex robot lead us to the assumption that it is a likely scam. This is due to the fact that it has connections to a software which was exposed as devious. The GPS technology that Satellite Trader supposedly uses can not be implemented into a profit-amplifying solution’s computer codes for the time being.

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Our best advice to online investors would be that Satellite Trader is not a reliable Forex automated system and one should turn to a legit system that has connections only to regulated and approved broker platforms[2].

Final Thoughts

Satellite Trader is a dubious Forex robot that is not able to achieve the promised. User feedback has been mainly negative and there have not been many people who have proceeded to open an account with it. It has connections to some shady brokers and systems and it is generally better for investors to sign up with a proven to be legit and trustworthy profit-amplifying solution.


t10demo_high_risk_stampOur investigation team conducted a comprehensive investigation on Satellite Trader to find out if this product is genuine. As a result we cannot say that there was enough evidence indicating if Satellite Trader 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 Forex trader with years of experience in online trading. I write reviews of Forex Brokers, Auto Trading Software and Signals Providers.

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References & Further Reading

1. Dynamic deformation monitoring of tall structure using GPS Technology (Lovse, J., Teskey, W., Lachapelle, G., and Cannon, M. – Journal of Surveying Engineering, 1995)

2. Customer order flow and exchange rate movements: Is there really information content? (Ian W. Marsh & Ceire O’Rourke – City University of London Publishing, 2005)

3. The interrelation of stock and options market trading-volume data (Joseph H. Anthony – Journal of Finance, 1988)

4. The behavior of daily stock market trading volume (Bipin B. Ajinkya. Prem C. Jain – Journal of Accounting and Economics, 1989)

5. System and method for analyzing financial market data (Ari Pine, Arthur L. Shmurun, 2000)

6. Pairs trading: does volatility timing matter? (Nicolas Huck – Applied Economics, 2015)

7. Trading Systems (D. J. Jourbert, A. F. F. Mason – Investment Analysts Journal, 2015)

8. The impact of day-trading on volatility and liquidity (Jay M. Chung. Hyuk Choe, Bong-Schan Kho – Asia-Pacific Journal of Financial Studies, 2009)

9. Evidence that stock prices do not fully reflect the implications of current earning for future earnings (Victor L. Bernard – Journal of Accounting and Economics, 1990)

10. Trading in the foreign exchange market: A study on purchase intention (Masoud Nassimi, yasha Sazm, 2006)