Yet another binary options software that claims to have come up with a winning algorithm to make you money on autopilot. And what’s more it’s the software is completely free!
Is there really such thing as a free lunch?
Make sure you read this full review BEFORE you download the software or make any decisions.
The Quick Low Down
Name: Option Robot
Price: Free to sign up, but don’t sign up just yet until you read the full review.
Overall Ranking: 1 out of 5
Don’t be its latest victim.
Read this post and get clued-up on what Option Robot is all about.
So what is the Option Robot all about?
Option Robot is a complex algorithm that trades binary options. According to the sales presentation, Option Robot has an impressive 83 % winning rate, which is pretty amazing for a free piece of software.
Unlike many other binary option software products out there, Option Robot doesn’t seem to have the fancy sales video or crazy back stories of the founder having discovered a way to beat the system and make lots of money on autopilot.
But how does it achieve 83% accuracy for winning trades?
While this is the lower accuracy than what is claims by other apps like the Dubai Lifestyle app (spoiler alert: it’s a scam), an 83% accuracy level is still unheard of in the binary options market and was my first red flag for this project.
If you can speak to professional traders they will tell you the odds for binary options trading are nowhere close to what the Option Robot is boasting.
So what are Binary Options?
In case, you aren’t familiar with the term binary option (I wasn’t), let’s pause here and talk about what they actually are.
<iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/ymmopjFucZM” frameborder=”0″ allowfullscreen=”” allow=”autoplay; encrypted-media”></iframe>
Binary options are where you take a “yes” or “no” position on the price of a stock or other asset, such as exchange traded funds (ETFs) or currencies.
If you are a complete newbie, it is basically like playing a game of roulette. You can only get two results with binary options – all or nothing.
So for example, you might bet that the share price of company Y will be above $10 tomorrow at 1pm, so you buy one binary call option for $100 with a predetermined pay-out for $200. This is a “call”, where you predict a price increase.
Where you predict a price decrease, this is called a “put”.
There are only two possible outcomes.
If you guessed correctly and the price at 1pm soars to $20 (above $10), then you get paid out $200. That’s $100 profit for you, woohoo!
But if the price is $10 and below, then you leave empty-handed.
It is all or nothing.
So the example is just to give you some context to the claims of the app being able to win 83% of the time.
This software is saying that it is able to tell the outcome of a roulette game 83% of the time! That’s called being able to see into the future.
The scary part about Option Robot
My second red flag was that Option Robot uses Martingale as one of the money management systems.
This means each time you get a losing trade, you keep doubling your investment until you get a winner. I don’t know about you, but such behaviour at a casino would certainly be worrying to people around you. I think it’s called digging yourself into a bigger and bigger hole.
This really can wipe out your account in a matter of minutes if you get a series of bad trades, which happens regularly in trading not only binary options.
So any trading system that uses Martingale is extremely dangerous and I recommend you stay well away from it. It’s a quick way to lose any investment very quickly.
The Ugly Truth about Option Robot
And my last red flag that put me right off this product was their risk disclaimer. You might just miss this until you scroll right to the bottom of their website.
There you will find the risk disclaimer written in the tiniest print that is very hard to read.
If you can’t read that, this is what it says:
“Trading binary options is highly speculative, carries a level of risk and may not be suitable for all investors. You may lose some or all of your invested capital; therefore, you should not speculate with capital you cannot afford to lose.
Please note if you are from the USA, some binary options companies are not regulated with the United States. These companies are not supervised, connected or affiliated with regulatory agencies.
We warn US citizens of the dangers of trading with such entities and strongly advise they take legal advice on this in the US.”
What do you think of that risk disclaimer?
The SEC Warns about the danger of such unregistered binary options brokers
The Securities Exchange Commission (SEC) warns that much of the binary options market operates through Internet-based trading platforms, do not complying with applicable U. S regulatory requirements and may be engaged in illegal activity.
Gosh so this software might be engaging in illegal activity for all I know.
And at best, trading with unregulated brokers means that if anything goes wrong, and the money you investment disappears into thin air, the SEC will not be able to investigate or get your money back.
I not sure this risky software is worth any of my money. Sure it’s free but sounds like a big black hole that could suck any money you put in it.
Have you heard of the Dubai Lifestyle App, Canuck Method, The Brit Method or the Kiwi Method? You can read my full review here to see the scary similarities.
Have you had any experience with these methods?
I would love to hear from you in the comments below.
A Better Alternative
If you have come across Option Robot because you are searching for a way to make money online, why not consider building a legitimate internet business based on proven principles and best practices.
This Online Entrepreneur Certification Course will show you how to build a profitable online business. And the best thing is the course is entirely free.
To learn more about the Online Entrepreneur Certification Course and how to enroll for free, Click Here.
And if you are interested in generating revenue online legitimately, check out my full review on this community of more than 1.3 million people.