Currently, we are not able to deem SocialTrader as a safe Binary Robot. We highly advise you a safer method or use SocialTrader at Your Own Risk. If you’re looking for more reliable alternatives, you might want to check our list of recommended trading robots.
About Social Trader
Social Trader is a recently developed new social trading system for binary options investments. It has been introduced in 2016 to the market promising users outstanding profits. Binary options provide high opportunities for earning a vast income to individuals around the world, but the right robot trading tool needs to be utilized to boost one’s profit performance. Although this social trading platform has recently launched and its claims seem promising, the actual robot and features are not new to the binary options world.
Let’s further examine if this binary options trading robot adheres to its ad promise of $24,755.81 in one week – or is it just another hoax?
Our team of experts knows that binary options trading can be quite advanced and we don’t think a system like Social Trader is adequate enough to provide consistently precise trading predictions. After our intensive research, we determined the profit claims to be over the top and the system to be overly glorified. Due to this system being new to the binary trading world of robots, the signals for the right predictions are highly unlikely. Furthermore, after investigating the website, we noticed that there is no license available. This doesn’t mean it’s a complete scam, but it should provide you a word of caution.
We can not vouch that the SocialTrader app is a scam, but we don’t advise it to potential investors because it still has long ways ahead until it can be considered a credible system.
The Cost to Use Social Trader App
The software system of SocialTrader is completely free, just like any other auto trading software in the binary options market. There is no direct charge to you for the software itself, but they do require a $250 deposit with one of their approved brokers. Although this, not a small nor huge amount to get started, it is still money that you can lose. Due to this system being rather new to the market and not having adequate proof of accurate predictions, we consider it quite risky for users.
If you are looking to actually get a return on your $250 investment, we would highly suggest you choose from one of our systems that are trusted and proven to work.
What Is Social Trader? Does it Work?
SocialTrader generates trading signals for you based on an analysis of the binary options market. This means according to previously collected data, it recognizes trading trends and patterns and then forms the likelihood if a value with go up or down. After that, it’s your decision as to what trading direction you would like to take.
In addition, the robot can execute a decision for you if you put it on auto mode, therefore, you don’t have to physically be in front of your computer to conduct a trade. The app uses social trading, which is a recent development in the binary sphere. What it does is that it copies trades from some of the top traders on the social trading platform. You use these signals to apply to your own account to see if you make good trades. In the Social Trader video, you can see how it is actually done on the demo account. However, we find that there is no genuine review anywhere on the web from any trader who has made money with this system. This app also allows you to automatically follow and interact with other traders in the same social network. So if it really works and how is a question that remains unanswered. We suggest you go with a proven and tested software than guessing what will happen to your money.
- It’s free to sign up, which you can do via their webpage. Just fill in all the details to access the software.
- Begin trading and making profits right after you open an account with any of their approved brokers. Then, you just need to make a deposit.
- Withdraw your earnings from your account as soon as you make profitable trades.
About Social Trader’s Special Features
Overall the features of the Social Trader app could be different however the basic ones are nothing spectacular or different compared to some other systems we review. We really see it as just an average system with social trading features that might work, because there is no guarantee. Overall, though, there is nothing to better the trading experience or excite professional traders. We do confirm that it serves well for beginners who are just learning binary options trading. We just wouldn’t recommend it to those seeking to attain high profits.
After a thorough examination, we have concluded that this Binary Robot may not be 100% safe and secure for interested traders.
Overall, this auto-trading system provides misrepresentation, and profits are not optimal. Until we are provided positive feedback from traders, we cannot fully confirm this software is suitable as a Binary Robot. We Advise You to Carry on Securely and Avoid Dishonest Systems by Choosing a High Rated and Trusted Robot.