One of the newest automated binary options to emerge on the scene is Option Robot. The system is fully automated so it will place trades on your behalf. The system will generate signals and send them directly to the trading platform. We wanted to see how this system rates up so we conducted a detailed investigation and compiled our results in the following Option Robot review so you can determine if this trading software will meet your needs.
How Does the System Work?
Option Robot generates trading signals based on algorithms used to analyze and predict the most profitable trades in the binary options market. These signals are then sent to the trader so they can determine whether or not they wish to place the trader. However, if you set the system to autopilot it will initiate the trades on your behalf. However, if you prefer to trade manually you can chose which trades you wish to act upon. Whichever options you choose, you will do well with this system as they have a very good success rate.
What is the Cost?
There is no membership fee required for Option Robot. However, you can only access the system once you have opened an account with one of their binary options brokers. You can chose from a list of brokers provided by Option Robot. You do need to make a minimum deposit of $250 to be able to start trading with the system. Once you have created an account, you can link the software to it and begin trading.
How to Get Started?
It’s very simple to get started with Option Robot.
- Create an account
- Select your broker
- Make you initial deposit
- And then use these funds to begin trading
You can set the system to autobot or trade manually. Once you start to accumulate funds you can withdraw your money according to the regulations set forth by your individual broker.
Option Robot Software Overview
So how does Option Robot work? After you sign up and deposit money into your account, you can immediately configure the software’s settings to your liking. Most automated trading software will allow you to adjust things a little bit by choosing the accuracy rate, the number of the trades placed, or the amount of money invested per trade.
With Option Robot, you have a new configuration choice in the binary options industry. You can choose which kind of technical indicator you want to utilize as well. They have six of these indicators in all:
- Relative Strength Index (RSI),
- Trend indicator,
- Moving Average Convergence Divergence (MACD) Oscillator,
- Williams Percent Range (or Williams),
- Commodity Channel Index (CCI),
- Stochastic Oscillator.
And you can select more than one of them at a time, configuring the software to only place a trade if BOTH indicators match.
Let’s say you’ve chosen the Commodity Channel Index and Williams Percent Range indicators. A signal to automatically place a trade only occurs when the criteria in both indicators agree with each other.
You’ll get fewer signals this way but they may lead to more accuracy and, therefore, more winning trades for you. This is something you’ll have to test out for sure, though, using the minimum amount of money you can get away with in the process.
In addition, you can also select from three trading system formats with Option Robot. The standard, or classic, trading system will likely be the safest choice for you especially if you’re a beginning trader. Then they also have the Martingale system, which is simple enough to understand but carries with it high risks yet also high profitability potential.
And finally, there’s the Fibonacci system that they’ve deemed the most accurate based on their own extensive testing; it can be a little complicated to understand, though, so you might want to get some more experience under your belt or study and test it extensively on a demo account before you try this one.
By clicking on the settings tab on Option Robot’s website, you can read all the details and watch a short video that demonstrates how to change the settings within the software.
You can configure the software in other ways too. Choose trading windows ranging from 30 seconds to one hour expiry time. Or execute as many as eight trades at the same time.
So, to summarize, you have the option of manually or automatically trading with Option Robt choosing among:
- Three different strategies,
- Six technical indicators,
- As many as eight trades simultaneously,
- And various expiry times ranging from as little as half a minute to an hour.
Spotting an Automated Robot Scam
- No Customer Support or Contact Information
Scammers don’t want to be bothered with customer service. So when you have a problem, you’ll have trouble getting any help. And that assumes you can even find any contact information on the site. Many scam sites don’t even have that…or if they do, it might be false information.
But if you do find customer support information, then contact them and ask a question or ask for clarification on something. See if and how fast they respond. If they do so quickly, then you have a higher possibility of getting help when you need it when you use their robot.
- Lack of Product Feature Information
If you struggle to find any information on the features of the robot anywhere on the site, that’s a sign of either simplicity that needs no explanation or bad features.
In worst case scenarios, the only feature involves you losing money…and that’s something a scam site will want to keep under wraps, of course. Honest binary option robot providers, on the other hand, give you enough information and a nice range of customization features.
- Poorly Designed Website
Fraudsters don’t like spending money on creating a professional-looking website. They see their scam as just a chance to make some fast cash. Therefore, they’ll often come across as obviously amateurish and untrustworthy.
But it pays to do your due diligence with everything. So while perusing a trading website, you’ll want to pay special attention to the images. Some can be paid stock images or that don’t represent the people they say they do.
Others may have been manipulated (or outright stolen). Or perhaps the scammers have even hired actors to pretend to be someone else or used photo-shopped images of celebrities to market their product.
Usually, however, if the website looks as stylish as credible websites of large companies, that’s usually a good sign of its legitimacy.
- Over-the-Top Promises
Another warning bell involves promises of exaggerated results like $2,000 per day for a new trader. None of the automated trading robots available on the market can guarantee that type of outcome. It’s highly likely they won’t ever be able to do so.
Keep your expectations at a few thousand dollars per month at best, and you won’t even earn that much right away. It takes more experience, testing and tweaking your approach, along with patience and perseverance of course. Whenever you invest money, you always risk losing it. So if someone guarantees you trading income, be very suspicious.
- Lack of Previous Trading History
No information about past trades equals a big red flag. If their robot executes trades with the kind of profit the site claims, then why would the people behind it want to hide that fact by providing no trade history at all? That’d be a huge marketing fail!
Lots of binary options robots developers make marketing statements assuring potential users of the high-profit potential of their software. But when you try to figure out where these profits originated, you’ll come up against a brick wall.
Developers behind credible trading robots will unabashedly post their product’s past trading history somewhere on their website. The more trades and farther back the history on display, the better.
- Software Compatibility with Only Scammy Broker Sites
If well-known and credible binary options brokers don’t trust a particular automated robot, then follow suit and stay away. In fact, the larger the number of brokers you can choose from with a robot, the better for you. You can gain access to bonuses like risk-free trades and such if you’re a new registrant.
You must have the ability to turn off the robot at any time and keep your investments in a broker account not affiliated with the robot. That way, you reduce fraudulent possibilities considerably.
- Few Assets Available for Trading
Some scam robots will only allow you to trade one asset…or they don’t make real trades at all. If you only have one or two assets you can trade, you’ll struggle to earn any money. So more assets available for trading offers more chances to make an income.
Sometimes a robot will specialize in a particular asset and prove itself a really good automated trader with it, earning huge profits. But usually, you’ll find limited opportunity with fraudulent robots.
- Too Short Product History
A short history doesn’t always indicate a scam. But scammers typically only stick around for a short time. Their product gets so much negative backlash from those who’ve tested it out that they can’t keep it on the market for too long.
Otherwise, they’d start losing money when faced with fewer customers coming in, more of their current customers leaving, and the continuing costs of running and maintaining their site and software.
So if a robot’s availability on the market stretches back years, you can likely trust that it does a good job and will earn you money. If you’re new to trading, stick with this type until you at least get a better handle on the industry and can better determine the viability of newer robots.
- Upfront Cost of Hundreds or Thousands of Dollars
Sometimes, you get good things even when you don’t have to pay for them. Many good, free binary options trading robots exist on the market. So you don’t need to pay a lot to get access to reliable software. Look around for free ones and you just may find some of them superior in quality to what you’d pay for.
The platform is a delight to use
Option Robot offers six technical indicators for traders. The system itself is extremely user-friendly and is an excellent choice for those new to binary options trading. Option Robot offers a variety of money management series that can help you increase your earning potential:
- Classic System
- Martingale System
- Fibonacci System.
You will have the ability to interact with some of the best brokers on the market.
The signup process is simple and quick. Option Robot has a unique feature called the “Reversed Trading Feature” which allows traders to place trades that go against the signal generated by the system. If you suspect that the signal provided by the system will not be profitable, you can reverse the trade as you so desire.
Is Option Robot a Scam?
As there are so many scam systems online these days, it can be quite difficult to determine which systems are actually trustworthy. We strongly believe that Option Robot is 100% legitimate. They have a winning ratio of around 83%, which is one of the highest percentages available in the market as of this writing.
A great benefit of Option Robot is that that most of the brokers they have listed are in fact regulated. This means that they are bound by the rules and laws of the regulatory body so you can be sure that your trades will be safe if you chose to trade with this system.
After our detailed research, we can accurately say that Option Robot is a reliable system. We have not run into any negative reviews or complaints as of this review. We can honestly recommend this binary options robot.
- Fully automated trading system
- Offers the ability to trade manually
- Offers a variety of assets with which to trade
- User-friendly interface
- Variety of reputable brokers
- Minimum deposit required
7 Binary Options review: OptionRobot: stars.