The Teraapp.co website is nothing but just a trap for anyone who is new to trading. This app is claimed to be created since January 2016, although the domain name was actually registered this year. This proves that Tera App and TeraBit company is nothing but a scam. Before this, we encountered another binary options product called Terabit Trader, which is basically the same.
The fake claim of this app – make $440,000 per month?!
If you believe that you are going to make up to $400,000 per month with this app, then you are mistaken. There is no way you can hit to that figure, unless if you are already filthy rich, or at least have tons of money to risk.
You might already know this, but Tera App is actually about binary options trading. Binary options is a simple trading method, where you can choose to call or put. For instance, if you think that the asset, let say, EURUSD is going up, then choose the amount to invest, let say $10, and then choose call. Otherwise, if you think that this asset is going down, then choose put.
If your prediction is correct, then you will gain back $10 plus 85% of your risk. In other words, you will earn $18 if your prediction is right. Otherwise, if your prediction is wrong, then you will lose all $10 of your money.
As you can see, there is no way you can make up to $400,000 per month with this app, unless if you deposited tons of money into the broker account.
The domain name is just registered a few months ago
If you checked the whois information of Tera App, then you will realize that this website was just registered a few months ago and not since January 2016. This proves that the claim made by the website is nothing but hype to sell you for another fake binary options software.
Want to see how this software looks like?
We have seen tons of similar binary options software like this before, and Tera App is the same. The so-called Tera App software is just another rehash from previous software called Terabit Trader, and from our experience, we can tell that no one can make the money out of it.
The real binary options software must look like this:
Final verdict: 1/5 rating
Tera App and Terabit trader are both on our blacklist (too bad) and we don’t recommend this product at all to anyone. These are some of the reasons:
- Tera App doesn’t give you control over your budget. There is no way you can set the trading style, indicators and expiry time. So, if you still want to try this software, it will be very risky.
- You don’t get to try this software on a demo account first. You might don’t know this, but a real, working software such as Option Robot or forex EAs come with a free trial version, known as the demo account. In other words, you can test and see how this program works first with fake money, before depositing real money on the line.
- You don’t have the ability to choose the right broker. Tera App doesn’t let you choose the broker that you like. You will be assigned to one of their chosen binary brokers, depending on your geographic location. This is somewhat a hassle since some brokers don’t have the features that others do.
Alternatives to TeraApp software
The Tera App software is just another joke to tarnish the binary options and the trading industry overall. We highly recommend that you stay away from this software and do your research first before falling into another scam.
If you are looking for alternatives to Tera App software, then check out our recommended list.