Option Robot is a robot that trades binary options. According to the web presentation it has an 83 % winning rate, which is pretty big for a free piece of software.
The first thing that should serve as a warning with Option Robot is that it uses Martingale as one of the money management systems. We have warned against Martingale several times and we are going to do it again now.
Martingale basically means more than doubling your investment if you get a losing trade until you get a winner. This really can wipe out your account in a matter of minutes if you get a series of bad trades, which happens regularly in trading not only binary options, but in trading in general.
So any trading system that uses Martingale with binary options is extremely dangerous and you should stay away from it.
Although the presence of the Martingale system is enough for us not to recommend Option Robot, we decided to test it anyway. So we opened an account and started demo trading. And we immediately saw that there was something wrong.
In order to be able to concentrate on the trading, we let the robot trade only one pair, the EUR/USD, and only one trade at a time. We did not change anything else in the settings.
And look at the following video, on the left you can see Option Robot in action and on the right a real live EUR/USD price feed. We placed a yellow horizontal line at the price (+ – 1 pip) where the robot entered the trade.
As you can see, the Option Robot demo is faking trades, this trade should have been a loser. The price was going down, but the robot closed the Call option as a winner, although in reality it should have been a loser. You can see that the Option Robot demo price feed is not the same as the real price feed, after the trade is open it shows a price spike that never happened.
So trading on their demo can be very misleading. It is the same as with Ultimate4Trading, a fake demo will make you believe that the system is profitable, but if you open a real account through Option Robot and deposit money, it is very possible that you will lose it.
Option Robot is just another scam promising profits on binary options, but its real aim is to make you open an account and deposit money with one of their brokers, because they will get paid for it.
If you want to try binary options, do it on a free demo that is real with real results. Only then you will see what it takes to make money with binary options, no free robot can do this for you.