What is the Binary Options Robot Scam?
Honestly, at first glance it really does seem promising. I mean, they go about attracting people without the flashy and cheap videos with actors. They do not insist you try or you’ll miss an opportunity of a lifetime or use various marketing schemes, which is what makes this a dangerous scam.
The information you are provided is minimal. You have no idea who they are or who is behind the software, there is no real contact information, and you are given the basic rundown of any auto
binary options software. In this case, you do get some pretty decent option which I have seen in a recent software that I have recently reviewed, but from the looks of it, in this case they don’t seem to help.
This Binary Options Robot claims to have a stop loss and to be very secure and safe, the problem is, unless you trade you won’t know. Though there are multiple brokers available, you cannot select one that you are already trading with, and once you sign up you are automatically assigned a broker and cannot change them.
They have a number of security features that are meant to help you succeed, the problem however, is that regardless we have a trader that has sent over proof that they have lost more than they have gained.
Once you do sign up, you cannot see the software and how it works. There is no demo account, and there is no way to confirm where the strategies come from and who is giving you the signals. You are simply given a deposit option with no other information.
The fact is though, that we have real proof with screenshots of a trader, reader of this blog, showing that the results they have received using this software are far less than impressive. They have tried all of the available strategies and still have not seen any positive results.
I present to you the first example of such losses. Out of the 24 trades made under the high risk with one of the strategies available only 5 were won. These examples are from May 2016. I actually received these results a while ago and I wanted to first research the software to see if others were experiencing losses.
Of course, at high risk it’s understandable to lose more than at low risk. So what happens when you trade low risk? Do the results skyrocket and you start making money? I actually inquired in the chat that is available in the website about the win rate and they claimed that during testing the results were 70% win rate. They were unable to tell me what the win rate is in reality and with current traders. The results? The win rate averages at about 40-45% as with this example which has 11 wins out of the 24 trades. I think it’s pretty obvious that they are FAR from the 70% win rate.Upon further inspection, it becomes obvious. With every low risk strategy, regardless which one you choose, the win rate is less than 50%. Chances of you actually walking away with cash in your pocket are minimal.
The fact is, regardless if you are using Low, Medium, Moderate, or High risk with ANY of the available strategies, you WILL LOSE YOUR MONEY. Looking over all of the results that were provided, approximately 45 pages of results, nothing reached a win rate above 45% and got even lower when you selected anything above Low risk. It’s a sad fact, but even those that seem quite trustworthy have proven to be failures. I have confirmed this information not only with the readers in this blog, many of which openly said that this is nothing more than a scam, but checked over what others have to say about this software. The fact is that so far I have yet to find a legitimate positive review or comment about this software.
From the looks of it, many were fooled by the seemingly transparent and trustworthy image that this website and software are trying to portray.
The last thing I want to discuss is the fact that they try to lure you into a free VIP account. The fact is that there is no such thing as a NON-VIP account. They just put a special name on the account and software to convince you that you are getting something more than the rest. The reality? Once you make an investment you automatically get a VIP account. If you want to continue using the software you must reinvest within a month with the same or a new available broker. Following this investment, every 3 months (or 2 months if you invest with a new broker) you must continue putting more and more money into your account to use the software. When I asked whether there is a NON-VIP account I was simply told that it’s the way the software works, with a LOT of reinvestment.
Also, when I asked why would I need to reinvest every 3 months if I am supposedly making money, I was given an answer that if I stick around longer than 3 months they would consider giving me a long term account where reinvestment won’t be necessary. They have not even though about what happens long-term because no one has stuck around that long after they realize that their software is useless.
All in all, as trustworthy as this software may seem at first glance, it is certainly nothing more than another crap binary options software that automatically loses your money for you. Do not waste your time with the Binary Options Robot software.