What is Option Robot?
Option Robot is a binary options auto trading platform which was created two years ago but was re-launched in March 16 2016 and is therefore not as new as most people were thinking. I have decided to do a review on the binary trading software after witnessing different outcomes from traders along the months since its re-launch, as well as a number of reviews on it. Some of these reviews are positive while others are negative. So I have decided to verify whether the software is another addition to the list of scam Binary Option Robots in the market or not.
Option Robot Unique Features
The software is a bit different from other current binary trading options software with a welcoming official site.
The Software is Free
Option Robot is a Binary Option Robot that is a free Auto Trading Software as clearly indicated on its official web page. The software brags a 100% automated trading. Registering an account with Option Robot is totally free of charge.
Subsequently, the binary option trading robot offers a $1000 free demo account to you if you need to verify the software before investing real money in binary option trading.
Upon the free registration of an account with Option Robot, a minimum deposit of $250 is required to start trading. The good thing is that the binary option trading software allows you a minimum trading amount of as low as $5.
The Wining Rate
Option Robot has an 83% winning rate which is practically high for any Binary Option Robot let alone free binary trading software. This is just a future generation trading algorithms. The binary option trading software has also a manual trading option which you can choose to use.
Binary Options Trading Systems
The software offers you three profitable binary options trading systems. These binary options trading systems include the Classic option which is basically the safest profitable method of trading. Secondly is the Martingale which is the most profitable money management system yet the most dangerous among the three. Martingale can simply deplete out your account within a few minutes in the event you suffer a number of bad trades which is common in all forms of trades, without the exemption of binary options trading. Thirdly is the Fibonacci money management system which is another of the provided trading strategy in the Option Robot. The Fibonacci system is the most accurate money management system of the three systems.
The Option Robot website has a setting tab that provides on the options of changing one setting to the other and also a video on how to go about changing the setting.
Option Robot Allowed Brokers
The binary options trading system allows a number of excellent compatible brokers and goes a step further to list their reputable profiles. These binary options brokers allow a minimum trading investment of as low as $5 to a maximum of $25. Most of these binary options brokers are EU regulated. They include:
Bank De Binary which is a reputable binary option broker.
OFM (Option Financial Markets); this binary options broker was incepted in 2014 and is operated and owned by BO technologies Ltd.
Skyline Markets; it was established in early 2016 and is owned and operated by Capital Markets Services Ltd that is located in Marshall Islands.
Stock Pair; is a binary option broker that is owned and operated by NXB Financial Services Ltd.
24 Option.com; this is another binary option broker of high reputation that is also registered with a number of other financial regulators.
Binary Tilt; it is owned and controlled by Unite Kingdom’s Chemmi Holdings Ltd which is based in London.
HBC Broker; this binary option trading broker came into being early 2016 and is licensed in the Pacific Island of Vanuatu but is owned and operated by IVA Star Ltd in Scotland.
Ubinary; It is operated and managed from London while its headquarters are located in the Marshall Island. It was created in 2011.
Opteck; it is licensed in Cyprus where it is also operated by its owner, Central Spot Trading Ltd.
Tropical Trade; it is a new binary options broker which is owned and operated by FYL Ltd in St Vincent and the Grenadines.
Empire Option; is another of their listed binary options broker.
Option Robot’s binary option brokers avail expiries that include 60 seconds, 90 seconds, 2 minutes, 3 minutes, 5 minutes, 10 minutes, 15 minutes, 30 minutes and 60 minutes. However, not every expiry is available to every binary option broker and most of them only avail the short term expiries to their traders.
As a binary options trader you have the power to choose trades that you are looking for ranging from 30 seconds to one hour expiry. You also have the power to decide how many trades you wish to place from one trade to eight trades.
Currencies that work with the Option Robot
Option Robot work with a wide range of currencies which include; EUR/USD, USD/CAD, GDP/USD, EUR, JPY, EUR/GBP, USD/CHF, USD/JPY, AUD/USD currency pairs.
Option Robot’s Settings
Option Robot has a number of different advanced settings which are also referred to as technical indicators. They include; Trend, RSI, MACD, Stochastics, Williams % R oscillator method and CCI.A binary option trader can have more than one of the six indicators selected at the same time. However, the Option Robot will only place trades if the selected indicators are satisfied.
This is one of the most advanced binary options trading software which gives binary option traders a wide range of choices and lots of configurable than most software.
Support and Customer Service
Option Robot provides an email address where users of the software can reach the software developers for questions and other issues related to the binary options trading software.
Moreover, Option Robot customer care service comes in a multi lingual options that include English, German, Swedish, Arabic, Russian, Italian and French.
How to Use the Option Robot App
Register an account
The first step usually involves you registering an account on the software’s web site. Registering an account on the site is free from any charge as of now.
Choose the money option you prefer to trade with
Upon registering you may choose to continue with a demo money or real money options.
Push the Auto trade button
You may push the automatic button to start trading or may opt for more features if you want to personalize the app.
Choose the trading method
This will include choosing the expiry times that ranges from as short as 60 seconds to as long as one hour.
What follows after that is the choosing a preferred combination among the three trading technical indicators that include the Classic, the Martingale and the Fibonacci methods of trading.
You are also expected to select a currency pair and the control trade amount and the number of simultaneous trades you wish to make.
Upon choosing the method of trading, you may choose a strategy or a number of strategies to execute the trade or trades in question. There are six strategies provide in the software. All the chosen strategies must agree for a signal to meet all of them in order for the trade or trades to be executed.
Returns vary from one broker to the other and also it may differ from one currency pair to another within the same broker. For example, Bank De Binary allows returns of 81% on the EUR/USD while only 79% on the AUS/USD.
Money earned through Option Robot is usually withdrawn based on the broker’s of choice method of availing the money. Most brokers use ‘Wire Transfer’ which involves the broker transferring your money to your bank account anywhere in the world.
Another common mode of money transfer involves the Neteller prepaid account credit card. One of its advantages is that the money is usually not taxed.
The pros of Option Robot
The binary trading software has a long list of pros.
It is easy to use.
The software does not require you to undertake any special training before you enjoy trading.
It is compatible with most devices
Due to the fact that the binary options trading software is an on line app, it can be used on Windows, Android, Macos, iphones and other mobile devices.
The software is validated
The software has a listed number of binary options brokers most of whom are regulated by the EU making it a validated app.
The software is credible
The software’s team of professionals provides a friendly and responsive customer care service in different languages.
Is Option Robot a scam?
Who are the creators of Option Robot?
For starters, the creators of the binary options trading software are unknown. Further, the website provides minimal information that would lead to the identification and the verification of the software creators. Why the creators would want to remain anonymous beats my understanding. Some may argue that this fact coupled with the fact that the software is free of charge, is too good a story to be true and the reason behind it is the fact that its developers are scammers that seek to take advantage of innocent traders. This is because they make you open an account and when you deposit your money with one of their brokers, they get paid.
The truth in the 83% winning rate
As you might have known, different contradictory testimonies on the accuracy of the 83% winning rate have emerged. Some people claim the rate to be true or at least close to the truth while others report a wide range difference with the rate stated in the software’s website. I have not personally used Option Robot and therefore cannot verify the truth of the claims.
There is no mention of a bonus percentage on the official website of Opinion Robot and this may be a concern to raise eyebrows given that this is a critical piece of information that the developers have chosen to leave out.
Risk involved in trading
Martingale is one of the listed money management systems in the software. The setting is one of the most risky choices of algorithm that a binary options trader can set to trade with. This is because it can basically wipe out all your investments in a matter of minutes in the event that you lose a number of trades.
However, on the bright side, Option Robot provides you with a choice among the three algorithms provided on its settings and the decision of whether you want to use Classic, Martingale or Fibonacci settings is usually yours. Further, in the event that you win a series of trades, the Martingale setting is the most profitable choice you can make.
In order to generate signals, Option Robot utilizes the different strategies in combination with the three algorithms in the software. It is highly recommended that you should use the Classic technical indicator in the event that your deposit balance ranges from$250 to $1,000. Use a trade expiry of either 5 minutes or 30 minutes with a minimum trade amount of $20 at one trade at a time using either the MACD or RSI settings.
In the event that your balance is above $1,000, the recommended technical indicator is the Fibonacci. It is advisable for you to use a trade expiry of 5 minutes or 30 minutes with a minimum trade amount of between $25 and $50 with two to five simultaneous trades.
For deposit balances that exceed $5,000, the Martingale is the recommended technical indicator with a trade expiry of either 5 minutes or 30 minutes and a minimum trade amount of $500. You can decide to take three to five simultaneous trades at a time.
However, you must appreciate the fact that in cases of binary option trading there are never any guarantees and the venture itself is very risky. It is therefore advisable that you ensure that you never put money that you should not in binary options trades. As a matter of fact undertaking in these ventures may wipe out all your investments.
Safety in the software
It is noteworthy that the software has not been black listed by either Threat Log, Malware Domain List or Google Safe Browsing meaning that visiting the software does not risk the distribution of malware and Trojans in your computer or mobile device.
In conclusion the positive elements of the Option Robot supersede its negatives. In my opinion, the software introduces to the binary options trading a wide range of choices that are not present in other software. The binary options trading software does not only give you a choice of whether to manually or automatically trade, it goes further to provide you with a wide range of choices in the algorithm you prefer and also the binary trading broker of your choice.
Option Robot may be the best binary options trading system in the market today. I recommend the use of the free demo account for those who are not sure of whether to undertake the risk. I highly advise immediate real money account signing for those who are interested in getting an automatic trader. Option Robot is the app to own.