While doing the review of a binary options scam called „Algo Trading Bot“, we discovered one of the roots of these trading robots.
Algo Trading Bot
In the video you can hear that you will make tens of thousands of dollars within the first month. And you guessed it, becoming rich is as usually free, AlgoTradingBot is no exception to this golden rule.
When we tried the Algo Trading Bot we immediately recognized a familiar app. Indeed, it is the exact same app as used by the Option Robot scam. When reviewing this scam, we made a video to show how the demo is faking results, see below this bot in action.
So this is becoming a fairly ordinary trick of scammers, they provide you with a fake demo that makes you believe that the system really works. But when you then open a real account and deposit money, real results cannot be faked and you will be losing your money.
But by then scammers will have their affiliate commission from their broker, so they will no longer care about you. This is how these scams work. And Algo Trading Bot is obviously based on a white label binary option robot.
White Label Robot
So we guess that it is not the last time we see this robot, different names will very probably follow.
Algo Trading Bot is a scam that is trying to fool you with a fake demo, so don’t invest your money with it.
You can try a real demo to see how binary options really work and what it takes to become profitable. You have to learn trading and build a profitable strategy.