Binary Options Robot is an automated trading platform which claims to offer binary options signals and trades them in your broker account automatically. The platform was developed during the year 2014 in Denmark. There are several blogs that are pointing out that Binary Options Robot is a scam. It is time to expose the entire details about this auto trading platform and why it should be avoided. Binary Options Robot is not the only misleading platform these days for day traders. The website is a scam and it is quite evident from the feedback left by the service members. Read this review further to know more about the details.
How many losing trades are generated in a row?
This review focuses greatly on Binary Options Robot as this is one of the viral websites when it comes to binary options services. Several people have requested for a clear review of this site exposing the scam that this platform is a part of. A lot of investigative work has been done by many concerning the services offered by this platform. There is undeniable and concrete evidence available which proves that Binary Options Robot is nothing less than a scam. They are a part of one of the worst scams. The platform has failed to generate any performance that they advertised. Ever since the platform is under operation, several articles and video reviews have been published on several blogs which have warned the traders about this platform. It is quite shocking that several reviewers have praised this platform and even marketed this website. This is quite shocking for many. These reviews are obviously fake considering that the users of the platform do not agree to what is being claimed in these reviews. There are several blogs which are currently promoting and protecting this website and marking it as one of the trusted trading platforms which is not true. The traders are requested to be safe than sorry and make sure that they verify the credentials before making any move.
Is Binary Options Robot a scam?
Binary Options Robot is a scam and a worthless trading platform. You can check the honest reviews from several genuine users of this trading platform. You can find out how displeased they are about losing their hard earned money from this platform which has scammed them. The trading platform is not owned by any leading binary options broker. The platform claims to offer professional and advanced services as far as the software is concerned which is not true. There are much better tools available in the market which is better than this platform. The platform is advertised to be built by a real binary option trader and was designed keeping professional traders in mind. This is something hard to believe as no information is available pertaining to the real owner of the website. Whatever information is available relating to the owner is being stated to be untrue by many actual users of this website.
Services offered by Binary Options Robot
The Binary Options Robot software is claimed to offer several options pertaining to customization. The truth is that new traders actually find the plethora of options as a massive turn off. The abundance of choice requires configuration of the robots that are working and this requires a lot of time. The company is failing to live up to the claims made. Nothing claimed is being delivered and this has led to the disappointment of several traders. The Binary Options Robot is claimed to be popular automated trading software.
If Binary Options robot I considered with several other trading platforms, you will realize that most of the testimonials furnished on their website are fake. They do not offer any kind of guarantee over the performance results. They do not make any promises pertaining to accuracy in the signals.
How to use the trading platform?
The Binary Options Robot has six sections which include trade setting, reverse trading, assets, signal providers, assets and expiration times.
The traders can utilize this section for setting their trade size, maximum number of trades per day and as well as tracking the daily stop loss. This is a basic section which is offered by almost all websites that deal with auto trading.
This section can be accessed where you will have to choose the assets as well as accept signals. The platform claims that historical performance can be checked for figuring out which asset has a high success rate and which does not. This is not always beneficial to the user. You need to do your research for picking an asset that you think would be beneficial for you.
This option must be used only be exercising caution. If executed well, this option can prove out to be immensely beneficial. You can make profit from this option by reversing any bad signal. However, if the signals are not appropriate then you are bound to incur a loss rather than making profit.
The robot offers four levels of risk which can be chosen from. Green signifies low risk. Red represents high risk. There is a provision to monitor historical results which have been marked as low risk, moderate risk, medium risk and high risk. This tool can be utilized by a trader if they have any basic knowledge about the trading world. If they do not and proceed blindly with the information that has been furnished in the category, then they may end up losing their trades.
The platform currently offers five different providers. These have been assigned names. However, these do not show any basis about the signals. In order to determine which signals are functioning well and which are not, there is a need to analyze the information from historical results.
A trader can specify to use only one robot for placing trades automatically. You can set a robot to trade with 60 second options. There are benefits associated with short term trading and several traders prefer this option. A slower approach is preferred by many traders but not all.
Is it worth investing in Binary Options Robot?
Why would any trading platform offer binary signals for free? This is something that is hard to digest. Binary Options Robot claims that it has partnered with several brokers and acts as an affiliate. When you are getting a trading signal, you are basically placing your trade with one of their partners. You open your account with the platform but trade signals which are from another platform. This can be a risk one as you need to then look into the reviews of all of its partners. The platform offers several options to choose when it comes to broker. You have option to choose from Banc de Binary, OptionFM, Binary Tilt, Bloombex, Ubinary and PlusOption. This makes everything difficult for the traders. They need to review all these partners if they wish to register with Binary Options Robot platform. This is not a win-win situation for traders as it is just complicating everything. To get a great service, you need to review each and every broker. When you trade using any of these brokers, the Binary Options Robot platform gets paid and you receive free signals. This makes everything much more complicated for the traders. A limited-time offer is set and then you need to make payments for continuing with future trade. With time, the promotions change and then you are no longer offered risk-free traders. You just get VIP signals for free for a month. Then everything is up to you. If you have knowledge about the basics, then you are a winner or else you lose badly.
What can be expected from the platform?
Binary Options Robot claims to have made its trading history public. This is more of a publicity stunt that the platform is adopting to pull in more traders. You need to pick a pro trader, risk level as well as a platform from the signal history page. Sometimes you may end up on a page which would not show any result. This can discourage you greatly. Signals would not be generated at all risk levels on all platforms.
The screens are quite discouraging. You will find more losses than wins if you actually look into the reviews offered by genuine users of this platform. The win percentage shown during promotions is unnaturally high and this hints that there is something suspicious about this platform. You should run if any of the page displays nothing but wins. If you see claims being made of win percentage being 90 per cent or anything more, then it is time to run and not trust blindly. A claim of anywhere between 70 to 80 per cent, then it can be trusted. Make sure to think before blindly believing any claim. All these indicate that you need to be cautious if you are planning to use this website. The company fails to be transparent when it comes to their wins and losses.
What does it cost?
It costs nothing when you have to trade with this platform. This is only from one perspective. You are not aware of the hidden motive of the company which is quite not visible to anybody who is new to this platform. Although the company claims to offer a free service, the risk lies in choosing the broker who have partnered with this platform. Anybody can sign for a basic account. Even VIP account is claimed to be offered for free of cost. The platform even has a referral program. You can refer a friend and be rewarded where you gain access to VIP service. If you fail to refer, then you would not be able to enjoy the service. This is basically like you fetch clients to this platform so that they make some fee from their partners. Once your friend makes a deposit, you receive an upgrade. There is no limit set when it comes to the number of times you can refer a person. If you have a lot of friends who trade, then you can enjoy the services of a VIP account for years.
Is it worth signing up with Binary Options Robot?
This platform is ideal for those who do not wish to pay for the signals. However, you end up losing a lot if you are not cautious when it comes to using the services being offered by this website. They have partnered with brokers which they promote on their page. They do not charge for their services. The partnership system with Binary Options Robot explains how they make money and also hints that they are not really in charge of the services being offered by them. Understanding of their system would have established a trust with the company. The results being claimed are not realistic. They claim that they offer useful services such as risk control and stop loss. However, this does not really help when they are not offering any actual service. Although the signup process is quick, the value of the features is something that is most important in considering any auto trading platform.
While picking any binary options robot, the traders have an issue in finding a broker that is licensed and reputable. 24option and Banc De Binary are the two largest brokers on this platform. However, then the services offered by these two companies are different and aimed to benefit certain sections of the trading industry. These are regulated by different bodies. Few traders listed on the platform are not even regulated. If you blindly end up working with them, then you may incur losses. Different brokers work with different algorithms. You may have a hard time in picking the right broker. The developers of the platform are currently working in integrating several brokers on this platform. The company is actually a scam as there is no transparency and there is a need for you to be careful while using this platform.