One of the most viral yet confusing trading robots on the market is known as the Binary Option Robot. New traders looking for a trading system to help them make better trade judgements, usually search for the term ‘binary options robot’ and stumble upon this tool. However, there’s much uncertainty since its name appears generic. Because we’ve had requests from our subscribers to clear up the confusion, we proceeded our investigation to sort out the facts – and find out if it’s a scam or not.
So to get things straight, the Binary Option Robot is the actual name of the trading tool which automatically signals trades to be placed. Also, if you’ve come across Binaryoptionrobot.com or their other site, Binary-Option-Robot.com, they’re the same product. Now, why would there be 2 websites for the same tool? Our experts think this is a bit odd, and probably so do you.
After reviewing the Binary Option Robot software, we can inform readers that this system may not have the best intentions for its users. It is a cleverly marketed product, but the core of its framework doesn’t appear to support its money-making promises.
If you’re looking for more reliable alternatives, you might want to check our list of recommended trading robots:
Binary Options Robot Software Review
The Binary Option Robot is one of the few surviving robots in the industry claiming to be a legit automatic trading software for traders of any skill level. Although this robot has been around for a couple of years, there must be a reason, right? Either it actually works or it’s a scam earning stealing deposits from traders.
Due to the company name, it’s one of the most viral trading systems in the spotlight with its strong marketing strategy to gain traders on its platform. However, ever since the middle of 2015, the chaos and confusion about this binary options robot have been building up, and more controversial reviews are popping up.
Binary Option Robot claims to provide a winning rate of 83% and further makes a bold statement that it’s like no other robot on the market. Although 83% stands at an average winning percentage in the industry, the actual software’s performance shows differently.
So, is the Binary Option Robot software as profitable and reliable as it says? Read our unbiased review based on our team’s trial runs and detailed investigation to find out if this is the best binary options robot for trading – or is it a scam?
BinaryOptionRobot – Best Bot For Results?
The Binary Option Robot is causing much controversy in the online trading communities for a number of reasons. As mentioned before, it’s a viral trading system that has both positive and negative reviews. But after spending a few weeks on this investigation, we have found that this robot might not be the most reliable software to open an account with.
It’s known in the binary options industry that the performance rate of an excellent trading robot should be around 80 – 85%. We discovered that this robot is not even close to 80% accurate! When we looked at the platform itself, it’s quite attractive and easy to use. But then there was a big unpleasant surprise. When we placed 10 trades, the results showed only 1 was correct. Despite the impressive appearance, the performance results are way below average! This was a shocker.
In order to confirm these shocking results, we conducted further online research from previous customer reviews and uncovered various complaints regarding inaccuracy and wrong predictions. Many complain that the Binary Option Robot’s trade signals are random. Should you risk your money because a software has a nice looking display? We don’t think you should for your own safety. However, of course, there are other easy to use trading software that give accurate trade signals.
How Much Does BinaryOptionRobot Cost?
To open an account with Binary Option Robot is free and requires an initial deposit of $200, depending on their recommended broker you choose to go with. There are a few different ways to fund your account: Credit/Debit card, e-wallets or wire transfer. We did find their payment methods legit, but since their bot was inaccurate 90% of the time, deposits are almost automatically lost due to Binary Option Robot gathering random signals.
TIP: If you are going to invest your money somewhere, make sure you can actually make profits and not just have faith that any system will work.
Unfortunately, trading robots such as Binary Option Robot, make traders fearful about using an automatic trading tool to help them in binary options. If you are nervous about using trading robots, our team understands since there is so much scum floating around on the web. That’s why we’ve only have selected a few we believe are top performing robots based on traders results.
Does Binary Option Robot Work?
The Binary Option Robot states that it is a powerful trading formula that is based on sophisticated algorithms that collect data from the financial markets. It is supposed to find profitable investment opportunities and then execute the trades on the trader’s behalf. This is a major time-saver as you don’t have to always stay up-to-date on the latest news, but the wrong robot could give you consistent trade losses.
According to our findings, the Binary Option Robot automatically places the trades for you, which is how trading robots work. However, there was a problem in this case. Generally, when a robot goes to place a trade, it notifies users with a signal – the Binary Option Robot just traded and we had no clue about it! It appears as if the robot has a mind of its own – with your money. It would be acceptable if you were alerted like other reliable trading robots we know. Does the Binary Option Robot sound shady? We think so.
Additionally, we uncovered a few cases where users shared that they made 2 initial deposits ($400) only to be blown away how fast the robot lost it all. Overall, we found the bot to have a 10% winning stat; that is very disappointing being that this auto trading software has been around for so many years.
Binary Option Robot – Scam or Legit?
Using the right binary options trading system should be a profitable experience. After all, the bot is performing the trades for you according to the settings you have chosen. Unfortunately, if a system is not reputable, automatic trades can either be a dream come true – or a total nightmare.
The Binary Option Robot interface is simple and you can set up the parameters fairly quickly. But, it doesn’t mean that it will follow your settings or trading strategy. This can either create a profitable experience or promote high losses – it really depends on the system you are using. In the case of the BinaryOptionsRobot, the trades were executed wrongly and resulted in many losses.
It was a disturbing surprise when the Binary Option Robot took control. Results were only 1 out of 10 trades performed correctly – not even close to half! We advise that if you want to put 100% trust in Binary Option Robot, you will be very disappointed to see your account empty out very fast.
The Final Conclusion
There are a number of scammers out there trying to attract innocent traders. Although we don’t want to categorize the Binary Option Robot software a complete scam, we’ve uncovered that this software does not meet high-rank standards to be on our list of trusted robots. Its dashboard is simple and fancy, but sometimes this is just sly cover-up for scam software to look legit. Nonetheless, it’s advised you look at a software’s performance when trying to find a system to work for you.
The Binary Option Robot system claims to have an 83% winning rate, but as per our investigation, reviews, and trial runs, we found it to be 10%. We do not suggest Binary Options Robot as a safe method to fellow traders looking for high returns on your investment.