Binary Option Robot presents itself as a free browser-based software that will automatically make binary options trades for you. However, is Option Robot a scam and how dangerous is it?
Product: Binary Options Trading Software
Product Website: optionrobot.com
Product Cost: Free but there’s a very big catch.
Opinion: Not Recommended
Is Option Robot a Scam?
At first blush, Binary Option Robot appears to be a free a software that automatically makes binary options trades. It’s even linked to several binary options brokers. However, there is a lot more to this story and it’s not pretty.
According to Binary Option Robot, all you have to do is join, deposit your money and start trading. They even claim they have an 83% winning rate.
Don’t believe it! Trading binary options is NOT investing.
You can choose between three trading systems, the Classic System, the Martingale System and the Fibonacci System.
None of this means anything because what Binary Option Robot doesn’t tell you, is that you will lose money regardless of what system you use. It’s all a charade.
No licensed financial consultant would ever recommend trading binary options as an investment strategy.
What is Binary Option Robot?
Binary Option Robot is a gateway to binary options brokers. Binary Option Robot is compensated for every sucker they deliver to these brokers.
Why do you think they offer their software for free? It’s bait to lure you into a trap.
To understand Binary Option Robot, you must first understand binary options and binary options brokers.
First, let’s look at binary options brokers. There are registered brokers and unregistered brokers. Unregistered brokers are scams. Registered brokers are scams too but on a higher level.
An unregistered broker can promise you anything and do anything because no authority is watching them. Their objective is to get your money. Money only flows one way with unregistered binary options brokers and it ain’t into your pocket.
In other words, if you open an account with an unregistered broker, you will probably lose your money and possibly have your identity stolen. Most of the binary options brokers linked to Binary Option Robot are unregistered.
The only registered broker linked to Binary Option Robot is Opteck, which is registered with CySEC, the Cyprus Securities Exchange Commission. However, don’t expect CySEC to help you if you lose your money with Opteck.
What is a binary option?
A binary option is nothing more than a bet, otherwise known as speculation. Trading binary options has nothing to do with trading. Nothing is traded.
When you place a binary option trade with a legitimate binary options broker or exchange, you are betting that a specific asset will behave in a specific manner at a specific time. Statistically, it’s like trying to hit a moving target with your eyes closed. Good luck!
It doesn’t matter how smart your free software is or how many advisors are on your team or what secrets they promise to reveal.
Statistically, it is nearly impossible to get a binary options trade right unless you have inside information.
The binary options market was NOT created for the small investor. It was created for the very large investor, like hedge funds and pension funds who manage accounts worth hundreds of millions of dollars.
Large investors who control massive amounts of stock are the only ones who know when an asset will behave in a specific way. When these big investors dump stock on the market, they know the price will go down, so they place the appropriate binary options trade and reap the rewards.
However, for the large investor to make millions with their binary options trades, they need thousands of small investors on the losing side of the trade. That’s where you come in, and that’s as good as it gets with binary options trades.
Another thing, the big investors don’t use free software from a questionable website. The big boys use supercomputers that make thousands of trades a second all day long. You can’t win. Learn more about binary options here.
The Curse of the Unregistered Broker.
Now that we have seen the game from the perspective of a registered broker considered the UN-registered broker. The unregistered may not even be in the binary options market at all. There is no way of knowing.
In most cases, if not all, the unregistered broker is nothing more than a stranger in a foreign country trying to talk you out of your money. The entire binary options story is just that, a story.
The objective of the unregistered broker is to talk you into funding your account. Binary Option Robot recommends you deposit a cool $1000. Remember, money only flows one way with these guys. Money goes in, but it doesn’t come out.
If you deposit money with an unregistered binary options broker, the software will show you made a nice profit. You didn’t. The broker is trying to get you to put more money into your account. You’ll never be able to take that money out because it’s not real.
If you deposit more of your money with the unregistered broker, they may let you believe you are winning until you try to take the money out of your account.
Once the unregistered broker thinks they have as much money out of you as they can get, they will lock you out of your account and keep all the money you put into it. You can’t win.
The Ugly Truth About Binary Option Robot.
The truth about Binary Option Robot is in the Risk Disclaimer. Scroll to the bottom of their website homepage. There you will find the Risk Disclaimer written in tiny print that is very hard to read. I posted an excerpt below.
“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.” -OptionRobot.com Risk Disclaimer.
Trading binary options is NOT investing. If you do not have a clear understanding of what it means to invest, I recommend my article “How to Invest.”
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If you found this article helpful or have experience with Option Robot, please leave a comment below. Thank you.