We have received multiple requests to review “BinaryOptionRobot” (or BinaryOptionsRobot), so here it is. In fact we already did a short private review for one of our readers last year, so this will be a public sum up so that we don’t have to answer every new request individually.
Binary Option Robot
So what it is about? According to BinaryOptionRobot.com it is one of the best auto trading robot software out there. But what is this claim based on?
But that web site is promoting BinaryOptionsRobot with an affiliate link, so they obviously are not unbiased. And they also promote obvious scams like Copyop or Investocopy. So a totally unreliable source.
According to the presentation, Binary Option Robot is managed by professional traders who trade every day in order to generate income for clients.
But who are these professional traders? What is their experience, where are they from? Are they licences investment advisors? And where is BinaryOptionsRobot based as investment service, is it regulated?
You don’t get a single answer to these very important questions. And when we had a look at results of these so called professional traders, we were shocked. Basically they were generating losses anywhere we looked.
Look at the following screenshots we took last year when we first looked into Binary Option Robot. Would you trade with these so called experts? If the answer is yes, you would be losing money….
No deposit, no trading, bad brokers
Probably every binary options scam that we’ve seen so far is asking you to first deposit with a selected broker, you cannot chose your own company outside their offer. And BinaryOptionRobot is exactly the same, you cannot use their system unless you deposit money with one of their brokers, they are clearly affiliated.
And the vast majority of their brokers is unregulated, meanwhile the majority of the rest (Banc de Binary and 24option) doesn’t have the best reputation, to say the least.
Why is Binary Options Robot not offering a demo? Why you have to deposit first and risk your own money from the start? This is exactly what scams do, they are losing money, so they cannot let you try the system on a real demo.
This robot moved the the BinaryOptionsRobot.com domain, but it is the same scam. So stay away from Binary Options Robot too.
Our recommendation is to stay away from Binary Option Robot. Everything we’ve described in this review suggests that it is a losing system that would lose your money.
If you want to try binary options trading without risking your own money, do it on a free demo account. There you will see what you have to learn in order to make real profits.
And stop looking for a robot or service that will make you money for free. They do not exist.