Created by a team of highly experienced software developers in 2014, OptionRobot.com is an automated binary options trading software. This kind of clever technology is built to help traders, by identifying and monitoring trading opportunities, and then actually trading on the users behalf. It’s a particularly good product for newbie traders, who can learn to trade while watching the software work. But it also has a place for more experienced traders too, who might not be a master of a diverse range of different assets, but still want to trade them.
Option Robot alleges to be a binary options robot that enables traders to generate over $2500 per day trading binaries. The platform claims to apply top level trading signals with an 88% win rate. This app is offered for free but that is not unexpected given that it is meant to lure unsuspecting traders to sign up.
Furthermore, they claim not to charge commissions on profits which beats common sense given that there is no other way to make money from their app. InsideBitcoins can confirm that the scammers behind this platform make money by receiving hefty commissions for the deposits made to the sham brokers through the platform.
From our tests, we find this robot to have a zero percent win rate. This means that you won’t make even a single cent from this platform. As mentioned earlier, Option Robot is nothing but a platform that connects unsuspecting traders with scam binary options brokers. These brokers are unregulated meaning that they are not under any authority to protect deposits.
Any deposits made through them cannot be tracked and there is no way for authorities to hold them accountable. This is because they do not reveal any traceable details such as the names of founders and backing team and also registration details. Legit trading robots such as Crypto Revolt ensure high-level transparency to help traders make informed decisions.
Although with an accuracy reaching of up to 83% when on auto trading mode, Option Robot doesn’t claim to offer its users a “magic solution”. Instead, trading signals are based on the use of several technical indicators and predefined trading strategies. Most of the trading robots that are available on the internet today are limited in letting traders adjust the trading parameters. However, this is not the case with Option Robot. Option Robot offers its users the choice to decide which technical indicators which they want to utilize. There is a choice of 6 types of technical indicators to choose from namely CCI, MACD, RSI, Stochastic, Trend and Williams.
The Option Robot also allows its users to use more than one technical indicator. In other words, it will only place a trade when both indicators confirm the trading condition. While the use of more than one technical indicator will result in less trading signals, the signals produced will have greater accuracy.
Advantages and disadvantages:
Demo provided: You can sign up in just a couple of minutes with Option Robot and they will give you a demo account with 25,000 euros to practice on. A really unique idea for online robots and one that is well worth taking advantage of.
Free Software: The software itself is entirely free to access and use. Once you have signed up and are ready to use the real account, you will need to pick from their list of affiliated brokers and then make a deposit.
High Wining ratio: As a result of the three clever trading strategies that Option Robot offer their clients to use, the winning ratio is higher than with other binary robot algorithms on the market. There is no track history on the website but that’s where the free demo account comes in handy. See for yourself how many trades you win, as compared to losing trades.
Highly configurable Software: The software gives the user a lot of control into how they set it up. As well as a selection of trading strategies, there is also a wide selection of currency types to choose from and timeframes such as the 60 second sniper trade.
Wide selection of brokers: There is an excellent selection of brokers you can choose to work with. It’s worth researching which ones you prefer in terms of the platform and additional services offered.
No verified trading results: There is no track history on the website, but as mentioned earlier as you can encouraged to first use the demo trading account, you will see the results for yourself.
Support available only through email and live chat: There is no phone number available if you have any questions. However live chat is instant and the company promise to get back to you very quickly when you send them an email.
On OptionRobot’s website, it is listed that the software is compatible with 9 different binary options brokers. The list includes:
- BDSwiss – Operational since 2012, this binary trading platform is managed by BD Swiss Holdings, a CySEC regulated broker. The broker offers binary trading in addition to CFDs and spot forex trading. Their binary trading platform is powered by the latest generation of the SpotOption trading platform. Minimum initial deposit requirement for this broker is $250.
- BinaryMate – A relatively young binary options trading platform owned by a Seychelles based company called Affort Projects S.A, BinaryMate first began operations in 2016. The broker uses a proprietary platform and offers binaries with short, medium and long term expires. Minimum initial deposit requirement for this broker is $300.
- Opteck – A well established binary options broker that was founded in 2011, Opteck is binary options trading brand that is owned by Centralspot Trading Ltd, a CySEC regulated Cyprus Investment Firm. The broker uses a MarketPulse trading platform and requires a minimum initial deposit of $250 for account opening purposes.
- StockPair – Established in 2010, the Stock Pair brand is owned by a holding company called NXB Financial Services Ltd. Regulated by the Belize International Financial Services Commission, this broker specializes in offering Pair options. Like most binary brokers in the industry, the broker also requires a minimum initial deposit of $250 to open a live trading account.
- 10Markets – Established in 2014 by an Anguilla based holding company called Whitestone Group Ltd, 10Markets offers traders the opportunity to trade CFDs and spot forex on its MetaTrader 4 trading platform as well. For binaries, the broker uses the SpotOption powered trading platform that offers different expiry times ranging from 60 seconds to one hour. Opening a live trading account with this broker requires a minimum deposit of $250.
- Binary Online – Established by Zola Ltd in 2016, this broker uses the latest SpotOption trading platform with all its new features. Offering a maximum return of 85%, this broker requires a minimum deposit of $250 to open a live trading account.
- Dinero Libre – Operational since 2016, Dinero Libre is a binary options broker that focuses on binary options traders from Latin America. The broker also uses a SpotOption powered trading platform and require a minimum initial deposit of $250 to open a live trading account.
- ZeusOption – Established only recently in 2016, ZeusOption is a binary options trading brand that belongs to FBR Investments LTD. They are based in London, UK and offers binary trading on the SpotOption powered trading platform. The broker requires a minimum deposit of $250 for anyone who wants to open a live trading account with them.
Apart the ability to choose the type of technical indicators, Option Robot also gives you the option to select the type of trading strategy that you want to implement. This is a trading feature which no other binary options trading robots in the industry has so far been able to offer.
Altogether there are 3 different types of trading strategies that can be applied, “Classic System”, “Martingale System” and “Fibonacci System”. Among the 3 strategies, the Classic system is the safest. The Fibonacci based system however produces a more accurate result. For those with more of a risk appetite, the Martingale based system would be more suited to them as it is designed to produce faster profits but at a higher risk. Other settings which users of the Option Robot can configure are the expiry times and the number of trades that they want to place.
In short, the Option Robot trading software, apart from the manual trading mode, allow its users to trade the markets with 6 different types of technical indicators and 3 different types of trading algorithms.
Login and Sign Up Process
Registering for an account is for free.
After opening the main homepage of Option robot, you will find two option on the right side of the home page.
One is indicating the LOGIN and another one is indicating the OPEN ACCOUNT.
If you already opened your account with Option Robot then you will simply click on the “Log in” button.
To create a new account you have to click on “OPEN ACCOUNT” button.
After clicking the “OPEN ACCOUNT”, a new page will open and you will find a form where you have to fill your personal information.
You have to put your First and Last name along with your email and contact details.
Before clicking on the SIGN UP button you must agree with terms and conditions giving by the Option Robot authority.
After login, you will get a compatible broker’s list.
This is mandatory to know that, the broker will vary county to country.
You can open an account with your desire broker simply giving your existing Email and password.
That means you don’t need to create a new password for each and every broker.
You can Log in with multiple brokers at the same time but to perform trade you have to choose one broker.
You can switch from one broker to another broker for trading.
As the Demo option is not available now, so to start the Auto-trading you have to deposit the minimum amount of $250.
After depositing the amount you are ready to trade with Option Robot.
Demo Account and Advantages
Demo Account will allow you to test the platform even before any financial or bank details are shared.
In the marketplace, there are many trading robots that are available.
Out of all the scams if this robot is a genuine one, then its features are meant to showcase the same.
With a demo account, you can practice all the features and how this robot software works.
Practicing on a demo account can reduce mistakes because through demo account traders will understand how the whole system works perfectly.
Traders will find exactly the same signals and be set in Demo Account available in the “Real Money Mode”.
OptionRobot is software is compatible with smartphones and tablets. It is available for download in the App Store and the Play Store for the Android and iOS devices. It makes it easier for brokers to travel anywhere and be able to make trades on their phones or tablets. Traders who like to get notifications on their trades should know that there is no app accessible on Android or IOS to give them the notifications. They should, therefore, do their trading through mobile internet browsers.
Option Robot works with currency pairs.
Traders can select their given currency pairs.
Besides this, they also accept Cryptocurrency assets.
The choice can be one of the pairs or can be more than one or can be all of them which I will mention below:
There are also many assets which they are providing according to brokers.
Some brokers accept cryptocurrency and some accept CFD while some brokers accept both.
In their main website, they gave only Forex currency pairs List.
After login in their robot section, you will get a complete assets list after selecting the broker.
Simple Withdrawal Options
Apart from keeping everything so simple, withdrawal of your money is also as simple as fund transfer.
The broker will directly transfer funds to your bank account as and when you raise the withdrawal request.
You can withdraw your profit at any stage by clicking the “Withdraw” button within the Robot Trading Platform.
From there you will be taken to your linked broker account withdrawal page.
Follow the withdrawal instructions which I mentioned in the broker’s information.
You will find their withdrawal methods in that list.
And another option used is Neteller prepaid credit card- this is used by those who do not want to pay tax.
This card has a Master Card flag and thus can be used all over the world.
This looks to be a good binary options auto trading platform or probably the best one that we have ever come across.
This gives a lot of control to traders and thus the confidence level on the platform is high.
Things are in our control and can be used in the right way according to various needs.
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