Alert – Option Robot is a scam – real review.
One of our readers asked us to have a look at the " Option Robot " from OptionRobot.com and OptionRobot.co.uk. So here it is.
Option Robot is a robot that trades binary options. According to the web presentation it has an 83 % winning rate, which is pretty big for a free piece of software.
Table of Contents.
Dangerous.
The first thing that should serve as a warning with Option Robot is that it uses Martingale as one of the money management systems. We have warned against Martingale several times and we are going to do it again now.
Martingale basically means more than doubling your investment if you get a losing trade until you get a winner. 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, but in trading in general.
So any
auto trading system that uses Martingale with binary options is extremely dangerous and you should stay away from it.
Scam.
Although the presence of the Martingale system is enough for us not to recommend Option Robot, we decided to test it anyway. So we opened an account and started demo trading. And we immediately saw that there was something wrong.
In order to be able to concentrate on the trading, we let the robot trade only one pair, the EUR/USD, and only one trade at a time. We did not change anything else in the settings.
And look at the following video, on the left you can see Option Robot in action and on the right a real live EUR/USD price feed. We placed a yellow horizontal line at the price (+ – 1 pip) where the robot entered the trade.
As you can see, the Option Robot demo is faking trades, this trade should have been a loser. The price was going down, but the robot closed the Call option as a winner, although in reality it should have been a loser. You can see that the Option Robot demo price feed is not the same as the real price feed, after the trade is open it shows a price spike that never happened.
Ultimate4Trading, a fake demo will make you believe that the system is profitable, but if you open a real account through Option Robot and deposit money, it is very possible that you will lose it.
Conclusion.
Option Robot is just another scam promising profits on binary options, but its real aim is to make you open an account and deposit money with one of their brokers, because they will get paid for it.
If you want to try binary options, do it on a free demo that is real with real results. Only then you will see what it takes to make money with binary options, no free robot can do this for you.
John Novak.
Review Date.
Reviewed Item.
Option Robot.
Author Rating.
54 thoughts on " Alert – Option Robot is a scam – real review "
Robert OBrien says:
just seen one of the other comments I posted just earlier about Option Robot, some lady online was saying was great.Well one of the comments on the site here mentioned
[email protected], that was the address this lady was giving out, and one of your previous comments from someone mentions that site. Also they try to put you through to a company WordPress as soon as you unsubscribe from them, your previous comment from that man was spot on, crafty people.
Robert OBrien says:
Just, seen comments today, online from some lady, think her name was Jenny, wish I would have payed attention to her name, jenny or Jane. Said she had been burned before buying Bitcoin or trading on scam sites, and she was rating different traders and companies. most were scams in her eyes, I really thought, she is the real deal.She was saying when someone asked about a safe trader she said Option Robot, her and her team get good returns off it.Dont know what tgo think here because every search I have done for Option Robot, is coming up people getting scammed, think maybe the Lady lets say is getting some sort of percentage per new customer, as most people are new to it and trying to make money, just dont get sucked into the Hype, I believed what she said turns out it is FALSE and total SCAM, beware.
Giddoh says:
Hi John, thanks for all that you shared on option robot. I nearly tried it but decided to read some reviews first and bang here you were with a full digest. You have saved me some hard earned money. Please if anyone wants to trade in binary manually. What platform would you recommend they trade on and also where should they go learning how to do this binary trading. Thanks.
Jo Stevens says:
Hi John, Have you heard of ICenter. Co and CWE Bots Only because I have friends involved in these companies. Thanks in advance. Jo
John Novak says:
Hi, Icenter: 1.2% daily plus referral commissions. This means more than 30% per month = it must be a scam, a Ponzi scheme. CWE Bot is a paid robot, I don’t know what it is supposed to do.
Zan says:
Thank you very much guys for taking time sharing your experience with Option Robot. You are doing a great job saving people’s hard earned money. You just saved me £250. Thanks.
Tom says:
I would suggest staying away from the OptionRobot website. As soon as I signed up to the website I got a call from their broker who pretty aggressively tried to sell me their product. There is no demo account to try anymore and one has to invest a minimum of 250 USD for the ‘welcome session’ to take place. I also posted a feedback about my experience on website called binarysignalsadvice which comes out at the top of the google rankings for the optionrobot review however my post ha been removed which is a big red flag to me and suggest association between both portals (the review one looks like has been built to promote and generate sales for the option robot portal).
Sicebi kunene says:
Hi guys I was reviewing all it tweets about different trading platformi nearly go with OptionRobot yoooo.So Can anyone here in d house please share a legit trading platform that he/ she is generating profit with it.Bitcoin Code is up to here in my neck with nasty emails I’m dodging it sounds as if is another scam too.
John Novak says:
Hi, I’m afraid there is no automated profit generating platform in the public domain.
peter miles says:
I want us to open a lawsuit against optionrobot.com and all its affiliated brokers for lying to customers by using false demo results that are out of touch with real live trading conditions. Additionally I want the Cyprus regulators that allow this scam to continue to be brought to book. I have already started the process and got a good lawyer. I encourage other traders who have undergone similar situations and can open proceedings against this scam company regulated in Europe to do the same. This thieves are not untouchable as they want us to believe.
Falahun says:
Robert says:
instead of using robots can you recommend copy trading platforms like CM trading? Looks legit and if you copy the right traders you make a decent ROI.
John Novak says:
Hi, I’ve never seen anybody making money in the long term by copying another trader on a social trading platform. These platforms are full of people who don’t know how to trade. If you try it, test it on a demo first.
German says:
Is super easy to detect a scam right in the demo, just do this: – Pick any currency, i mean ANY, just close your eyes and pick one – Smash the mouse buttom on *call* OR *put* (not both) and see how you win all the trades I’ve made 250k+ in 10 min on the DEMO. It’s pure BS.
Bart Kortman says:
Hello people sorry for all the missing words or letter in reaction I, am medical pension and have lot off stress, a recently buy a laptop but I can use it anymore becausse of reumatics etc sorry about the person i mean he is not true again Namaste.
