Alert – Option Robot is a scam – real review

Option RobotOne of our readers asked us to have a look at the “Option Robot” from OptionRobot.com and OptionRobot.co.uk. So here it is.

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.

Dangerous

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.

Scam

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.

Conclusion

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.

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36 thoughts on “Alert – Option Robot is a scam – real review

  1. Hi manager,
    if you go to optionrobot.com to see the FAQ, they stated that the demo account is using the eToro pricing feed, not the real market price. That’s why the price is difference between demo account and real account.
    Can you confirm that again does optionrobot.com is a scam or not please?

    Thanks and Regards

    1. A demo must emulate a real trading environment. If a demo uses a an inaccurate price feed, it has misleading results, it is fake, worthless and should not be there, as many people can base their decision on that demo. The demo should show what you are buying, which is not doing, it is showing something unreal, therefore we consider it to be a scam.

      1. A lot of these scams are using fake demo accounts and all these YouTube scam artists are promoting and praising these nasty scams. Every day they have a scam scam to promote.

  2. Hello,

    In relation to OptionRobot.com and Your review John, The site does say they have 3 betting strategies, not just the martingale 1 and as mentioned in a previous comment, they also advise their demo account is using a different pricing feed than the actual 1. This All being said, Has Anybody actually opened an account with them and traded? I am very curious as to hear the Actual results as this site appears more genuine than All of the other sites I have researched?

    I appreciate Everyone’s input especially John’s and a big thanks to you for this site and information You provide.

    Sincerely,
    Greg Bellemey

      1. I deposited with option robot, if you want to lose your deposit quickly go ahead, but I was trading on classic, then it automatically switched to martingale, and 4 losses I was broke, because it kept doubling the trades by itself, you might make money if you babysit it and trade on classic one trade at a time, but I won’t trust them again, also my demo account switched to my real account without me doing it, and beware that the robot will open every trade no matter the position

  3. Hey

    Thank you for your reviews I was just researching on Binadroid and Option Robot and as per your reviews they are both scams, can you help me in suggesting a scam free auto binary robot.

    I’m new to this and just start studying on binary options, but till then if you can help me with a legit autobinaryrobot would be amazing. Thank you

    Regards
    Clyde

    1. I’m sorry but I don’t know about any profitable binary option robot. Please realize that you basically are looking for somebody to make you money for free and such a thing does not exist in this world.

  4. I highly recommend copybuffett.com so profitable the only problem am having with them is the automatically assigned brokers if not is 100% highly profitable.

  5. Hi John, Is there such a thing as a genuine money making robot even If I have to pay for it , I have tried a number of the free auto robots to my detriment. i look forward to your reply.
    Many thanks PK

    1. Hi Kevin, unfortunately I don’t know about any profitable robot for binary options. I believe that learning and manual trading is the only way.

      1. One last thing John. I see from your answers what the outlook is here, so can you point me in the right direction as to where I can learn and understand manual trading? Thank you.

  6. I used optionrobot.com on two occasions and lost my my money. I used their affiliate brokers binarytilt and optech. The demo for each indicated excellent results. However the real money mode was a total loss. What a shame. I believe a class action law suite should commence. If you have a bad experience with optionbroker.com and their affiliated brokers, do the right thing and warn others.

  7. I opened an sccount with optionrobot.com and funded my account with binary tilt. The robot does not even trade in real mode. After several mails and loosing my money I still got no response from them

  8. The Optionrobot is a scam, it is not connected to any of the brokers it revers to. The brokers are happy because they see your money comming in after you have opened a account with the minimum deposit. It would not surprise me if the robot is designed by the prefered brokers to get your money on their platforms. There are scam you tube artist who even promote the robot,, maybe also payed by the brokers. The business is a big scam.

  9. I reached this site, after opening a demo account in that optionsrobot.
    I picked stockpair as a brooker. The robot started increasing my demo account too fast that was not a good sign.
    When looking to the live data at the robot side and at the stockpair side it was completely different.
    Before this site i was also looking in some other sites, searching for some reviews about that robot stuff and i found some good reviews about them even in sites that should have a good reputation.
    I was also chatting with stockpair support and they do not want to be related with robots 🙂 however they have his name on the robot side and that shows some kind of agreement between them.
    Finally i came here and all my doubts where clarified by the reviewer. I can see also in the posts that his answers are from someone with good sense.
    Conclusion: i will not trust in optionsrobot and in any of the brokers listed there. And probably better i will not spend more time looking to trade robots 🙂

  10. I was so disappointed with this system. I made $750 in 20 minutes in demo mode and then I proceeded to lose $300 in 21 minutes of actual live trading. Boy do I feel stupid. What a suck. I should have known better. Please beware.

  11. Lost £250 in 2 mins. Not one position came in. 😓
    I recorded video and screen shots for anyone I know thinking of Trying it out DONT

  12. optionrobot is just a huge scam.
    I signed up for an account with one email/username want it changed and it all went down.
    They told me FM Trading can do it, I contacted them to change it and got called by my “account manager” to deposit money.
    Went back to optionrobot they asked for money too, when I told them I will invest when I educate myself and right now I just want the free account there was no answers back. No email answers I cant even chat with them.
    Apparently for them a free account is $250 minimum
    I was even told “give me your credit card info, if you don’t have money it wont get through”
    Stay away, far away

  13. It’s a complete scam – 82% success rate my a**e. What I experienced is the quickest way to lose $250 dollars known to man. Took all of 20 minutes. Researched the best algorithms and won twice in 22 goes. Do not touch it with a barge pole. paid actors to make genuine looking YouTube clips – feel very stupid to be suckered in. Do not trust the demos they’re there to sucker you in.

  14. Tested OptionRobot with 24option. It showed great results in demo mode, and then I quickly lost my deposited min amount of 250 Euro (in some minutes). All risk management settings were on. Noticed, that robot placed several consecutive CALL orders when the trend was the opposite. Well, it was stupid just to look and wonder what will be next …

  15. Thank You Guys For Your Good Understanding about option robot that is a scam, you have made my day, Thank You Once Again, Mduduzi Wiseman Dube, Soweto, Johannesburg, South Africa. you saved my money and my future in trading.

  16. I was also drawn to option robot because it generated very high winnings rates when in demo account coupled with 24 option. I select all rules and pairs with 2 conservative strings to trade. The winnings rate are amazing because they are using 90% payout to formulate with the results.

    When I am in live account coupled with 24 option, their payout is from 62% to 71%. I lost badly. Not sure can I trust trading robot again in the future.

  17. I have been tempted with option for a while now so I tried option robot, I tried the demo mode and made £5m+ in and hour on next try pretty much the same, So like a fool I invested £250 just to satisfy my curiosity, I am not saying OptionRobot is a scam or anything wrong with the brokers but it is misleading. I followed their advice for guaranteed profit and lasted a couple of hours before I was wiped out. my trade results are as follow

    27 trades

    15 losses

    5 got my stake back

    7 winning stakes

    After a while I thought I would cut my loses and withdraw the £104.56 that was left and drowned my sorrows, but I found it far easier to deposit money than withdraw it, its not a simple transfer back to bank you have to put all your details back in plus your banks international transfer code and its swift number not at all easy to find them, then you find you incur charges for withdrawing money from your account with (24options the broker I used) but also your bank charges £17.50 for intational transfers other banks may charge more or less than mine TSB so I gave up and lost the lot.
    I hope my experience will help all others from making the same mistake as I did their is no such thing as Guaranteed profit, unless you are really experienced I would advise you all to steer clear, my lesson cost me £250 I hope I can save you the time and money I have lost.

    Regards Frank

  18. thank you guys for all your fantastic reviews, i was interesting on opening a real account on optionrobot.com, but first i tried the demo account, i made many trades, about 40 trades, and all of them were winning trades, i found it much and much and much strange, in binary option it is impossible, in fact i didn’t made any deposit, i searched some clips on youtube, they all recommended optionrobot as a profitable platform with real account, i believed it, i was about to open a real account but thanks to you guys i realized that they are all actors paid to fool people

  19. Hi . I know how you all feel My broker Lbinary committed fraud and stole all clients money and disappeared , must have got away with millions , including all my money . i complained to Action Fraud in London , they did nothing . Be careful.

  20. i opened an account and i had three brokers call me, to make a deposit, now if its as good what they say it is why aren’t they doing it????? now i keep getting endless calls, i tried to make a deposit and my bank automatically block it. option robot, and binary robot365 is from the same scam party.

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