For someone who is new to online binary options trading, it can be a very stressful affair. This is because in order for your trade to be profitable, you need to consider several factors like what assets to trade and when to make a trade which requires knowledge and experience to get it right. This is the main reason why a trading system as the Bank Tracker Bot was created in the first place.

To help binary options traders alleviate some of the stress they face, many online trading solutions have came up with the idea of automated trading with the use of a trading software or “robot”. While some of these products may be legitimate, many are actually scams designed specifically to part you and your hard-earned money. For this review, we will take a closer look at a newly launched trading robot called the “Bank Tracker Bot”. To find out if the Bank Tracker Bot is a legitimate trading robot or just a scam, read on.

What is the Bank Tracker Bot?

According to the marketing video, the Bank Tracker Bot is a binary options trading system that uses algorithms to trade stocks with low volatility particularly bank stocks. Apart from this snippet of information, not much else about the Bank Tracker Bot is known. The presenter of the promotional video Michael George mentions that this software was developed by his old college friend by the name of Steve who shared it with him. No other information about Steve is available online. For us, this is a red flag that the developer is trying to hide something as this kind of behavior is not a normal business practice.

How does it work?

So how does this software work? As we have mentioned earlier, the promotional video claims that the Bank Tracker Bot uses algorithms to trade bank stocks as they are typically stocks with low volatility.

What the software claims to do is to scan the market for any sudden changes and analyze them. From the results of the analysis, trading signals are then relayed to participating traders so they will be able to act on the signals with the Bank Tracker Bot trading software. The promotional video also claimed that the success rate of the Bank Tracker Bot is around 80% to 85%. However, no collaborating data has been provided to back up that claim leading us to conclude that this claim is just pure marketing hype with no substance.

From our observations on the internet, the Bank Tracker Bot has not been able to perform any of those things that the promotional video claims that it can do. In fact, many of the trading signals relayed by the trading system seem to suggest losing trades instead of winning trades. In addition, many traders complain that the software is not user friendly making it difficult to operate.

Final conclusion

Although there is no definitive proof that the Bank Tracker Bot works in a fraudulent manner, we find that there are several red flags which suggests that the software is nothing more than a scam. First, no background about the developer of the trading system has been provided. Secondly, the claim that the software has a success rate of 80% to 85% is not backed up by any verified collaborating evidence. So basically, everything that we know about the Bank Tracker Bot is just based on pure conjecture. In our mind, the software was created to capitalize on the ignorance of new traders to scam them out of their money.

Binary options trading can be a very profitable activity if a trader knows what he is doing. And because of the high profits that one can make trading binary options, this has drawn in many unscrupulous individuals to prey on the ignorance and greed of unsuspecting traders. This is why we always advise our reader to be patient and not get drawn in by some of the pressure tactics which scammers use to get traders to sign up with them. So keep yourself updated with all the latest developments in the industry in order to avoid getting scammed by trading robot such as the Bank Tracker Bot.

Recommended Brokers:

	Min. Invest	Min. Deposit	Max. Returns
	$1	$10	92%
	$1	$10	91%
						All brokers >>

	Min. Invest	Min. Deposit	Max. Returns
	100%	$10	92%
	$1	$10	91%