Binary options scams made their way to Australia, in this review we are going to uncover the truth about “OZ Robot”.
Making videos about binary options trading systems has become a standard and OZ Robot is no different. A guy called Paul Ring tells you a story about a trader called Nick Knolls who invented a profitable trading system.
Ring says that Knolls discovered a loophole in the Australian dollar that he can exploit. All this is of course a nonsense, neither Ring nor Knolls exist, this is just a fairy tale. To put you under pressure, they say that you have only a limited time to join, but in fact it’s been open since July 2014 and you can join any time you want.
Do you know why? Because OZRobot is a typical scam. If you join, the first thing they will force you to do is to open a binary options trading account with their broker (BigOpiton at this time). So you will have to deposit at least $250 in order to start. If you then let the system trade your account, you will lose everything. And you cannot try it on a demo, they don’t allow it.
Because the truth is that these system are just empty black boxes, their winning ratio is about 50 percent, which statistically corresponds to random entries. The purpose of this scam is to make you open a binary options trading account and deposit. Because when you do that, these scammers will get their affiliate commission from the broker. They will earn money and you will lose.
So stay away from OZ Robot. Binary options are a great trading tool and they don’t deserve to be presented this way through scams. Trading binary options can be profitable, be you have to learn some basics before you can earn money with them. You can start testing on a free demo account. And certainly avoid unregulated brokers.