Binary Option Robot offers several binary options trading platforms, including NADEX and unregistered brokers. However, there is more to the story. Follow me to see the Devil in the details.
Product Website: binaryoptionrobot.com
Product Cost: Minimum $250 Deposit.
Product Owner: Cannot Be Determined.
Ranking: Not Recommended.
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What Is Binary Option Robot?
Binary Option Robot is a hub that refers visitors to various binary options platforms. NADEX is prominently displayed. NADEX is the only licensed binary options broker in the United States. However, that does not mean you will make money trading binary options with NADEX. Trading binary options is very risky, but at least NADEX adheres to a code of ethics and the rule of law.
The other platforms promoted by Binary Option Robot are unregistered brokers. The SEC warns that unregistered brokers are suspected of manipulating trading software to force losing trades, locking clients out of their accounts, stealing client’s identities and their money. (Source)
In 2016, The Internet Crime Complaint Center (IC3) received hundreds of complaints regarding online binary options brokers and reported losses in the millions. (Source)
Binary Option Robot is an Affiliate.
Another way to look at Binary Option Robot is as an affiliate for various binary options brokers. The owner of Binary Option Robot earns a commission each time they refer someone to a broker, and that person opens and funds a trading account.
The commissions Binary Option Robot earns are substantial. For example, according to OfferVault.com, FinTech, one of the brokers promoted by Binary Option Robot, will pay $350 commission for each person Binary Option Robot refers.
How can FinTech pay a commission of $350 when a client only deposits $250 to begin trading. In a moment, I’ll explain how, but it isn’t pretty.
Is Binary Option Robot a Scam?
The word scam gets tossed around a lot online and for a good reason. Scammers use the promise of making money to hook people into their scheme. A scam uses deception to steal someone’s money.
Binary Option Robot does not promise you will make money. In fact, if you look closely, you’ll see small print throughout the website that warns “investors can lose all of their capital.”
There are a few things on the Binary Option Robot website that I find it questionable such as the listing of people around the world who recently made money with Binary Options Robot. Binary Options Robot, with an ‘s,’ is NOT the same as Binary Option Robot.
If you click on the Binary Options Robot list of people making money, you are not taken to Binary Options Robot. You are taken to FXMasterBot.com, another affiliate site promoting unlicensed binary options brokers. This is misleading.
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Read the Disclaimer!
Scroll to the bottom of the Binary Option Robot website, and you will find in tiny print an extensive warning. The disclaimer clearly states you could lose all of your money and that you should not trade binary options unless you fully understand the risks you are taking.
Buried in the disclaimer, you will see that Binary Option Robot does not recommend any brokers other than NADEX to US citizens. However, they clearly are trying to get people to sign up with unlicensed brokers.
If you click on the word “Disclaimer” at the bottom of the website, you are taken to the full disclaimer. In the third paragraph of the Binary Option Robot Disclaimer, you will find a rather interesting sentence. It says, “Information on BinaryOptionRobot.com should not be seen as a recommendation to trade binary options.”
Binary Options are NOT investments.
Trading Binary options is NOT investing. Trading binary options is more like gambling than investing. A licensed investment adviser will never recommend trading binary options because they are too risky. To learn more about investing, read How to Invest.
Trading Bots Will NOT Make You Rich.
There is nothing special about auto-trading robots. The free auto-trading bot software is how they hook you into their scam. The trading bot is designed to do only one thing, that is, create the illusion that you can make fast, easy money.
The bot gives the broker the opportunity to manipulate the software, making it appear that you made money when you didn’t.
The Trading Bot Scam.
Binary Option Robot promotes NADEX and unregistered brokers. NADEX is registered with the Securities Exchange Commission (SEC) and is licensed in the United States. NADEX is NOT a scam. It is a legitimate binary options exchange. However, none of the other brokers promoted by Binary Option Robot are registered with the SEC and are NOT licensed in the US. The SEC refers to these brokers as unregistered. That’s like claiming a carjacker is an unauthorized driver.
Remember, the SEC has explicitly warned that unregistered brokers are suspected of manipulating trading software to force losing trades, locking clients out of their accounts, stealing client’s identities and their money. If you open an account with an unregistered broker, like the brokers recommended by Binary Option Robot, they will insist that you give them your phone number. (Source)
Once an unregistered broker has your phone number, a trading advisor will call you. The trading advisor or whatever they claim to be is nothing more than a professional telemarketer eager to get money out of you. If you believe this person wants to help you, they will lead you, step-by-step into their trap.
Their trap involves at least two scams. The initial scam, the small scam will cost you $250. The small scam is followed by the big scam that will cost you about $10,000 or as much as they can talk out of you. And, they will 
continue to scam you as long as you let them.
The Small Scam.
To begin trading with an unregistered broker, you will have to open an account with them and deposit some real money. Usually, the minimum deposit is $250. Within 24 hours your trading bot software will show that you made money.
What appears to be money in your trading account is not real money. Your real money went into the pockets of the broker and the telemarketer, and you will never get it back.
Those numbers that look like money in your account are just numbers the software generated to give the illusion that you made money. You cannot withdraw this money from of your account, and you cannot spend it because it’s not real. This is the small scam and the setup for the big scam.
The Big Scam.
The bot trading software created the illusion that you made a lot of money fast. The scammers are trying to convince you that you can make a lot of money and maybe be a millionaire in a few months. If you fall for the small scam and believe the software made you a lot of money quickly, they will talk you into depositing $10,000 of your real money into the trading account.
If you let your “advisor” talk you into depositing more money, they will take your money and lock you out of your account. Your money will be gone forever. That’s the big scam.
Because the brokers promoted by Binary Option Robot stand to make $10,000 plus from each client, they can afford to pay affiliates high commissions. This is why FinTech pays their affiliates a $350 commission for each referral. Everyone makes money except you. You lose money.
No Robot Will Make You Rich.
Contrary to the online hype, there is no magic Robot or auto-trading software that will make you rich.
Making money online is the same as making money offline. There are no shortcuts. Making money requires an exchange of value. If you want to make money online, you must offer something of value in exchange for it. The value you offer can be your labor, skill, product or service. This simple business principle is the foundation of entrepreneurship.
There are no shortcuts. Did I say that already? It’s important.
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If you found this article helpful or have experience with Binary Option Robot, please leave a comment below.
Are these auto trading robots that you caution us from the same thing as robo advisors? I hear about a lot f young people using these robo advisors when it come to doing their investing. I personally would rather invest myself than put my trust in a so called robot.
Hi, Jessie!
That’s a great question. Thanks for mentioning it. Binary Option Robot is nothing like a robo adviser. When offered by a well-known and trusted financial service company, a robo adviser is a software program that manages a client’s investment portfolio.
Binary Option Robot and the programs like it are really just shell programs that create the illusion the client is making money. It does not make trades, although the so-called broker might say it does.
With Binary Option Robot you are guaranteed to lose money.
With a robo adviser from an establish financial service company, you should have a reasonable expectation of reaching the investment goals of your portfolio.
Thanks for stopping by,
Gary
Small scam? lol
But I agree with you. This whole thing serves the creators of the program, and not us! That’s why they’re still here, and they’re still in business… while there are thousands out there who will hate this kind of money making forever because they’ve been burned.
I have a question:
Since we have uncovered that this is a lucrative business, at least for the creators of these programs, would you consider starting or creating your own binary option trading robot someday? Like if, a software developer approach you, “Hey, let’s create this one”. Will you?
Hi, Gomer Magtibay!
You ask an interesting question. Trading binary options is not investing, even if you use a legitimate exchange like NADEX. Ethically, I could not promote binary options in any form and certainly would not want to profit from them. So, no, I would not create or promote a binary option trading robot.
Thanks for stopping by,
Gary
This is a great website! I have been looking for how to earn money on the internet. I have a four-year-old daughter and I do not have anyone who can take care of her. So my only solution was to look for something that I can do at home.
I read all you page and I learnt a lot about scams. I have seen all of them in the internet. I never believe in anything that can make you earn a lot of money fast and easy.
I learnt a lot on your website. Thank you for all the valuable information!
This is a very intriguing article. I have been wondering about the computer trading with bots, programs, etc., and you point out that it is not a way to get rich quick. It sounds like there is a world of questions out there on this.
My bigger question is with the automated trading that the wealthy big boys use and none of us have access to. Am I just confusing the issue here and do they in fact have access to higher level software, programs, AI, etc.?
I apologize if my question goes way beyond what you were discussing here. This is a confusing topic for me as I am not that knowledgeable on it.
Hi, Rick!
Binary Option Robot is not a legitimate trading software. It does not trade anything. It is just a very simple software that creates the illusion that you are trading and making money.
You bring up a great question automate trading the big investors use. The average investor cannot compete toe-to-toe with the supercomputers the big boys have. In March 2011, Marc Lichtenfeld, Chief Income Strategist, The Oxford Club, wrote
“Every day, supercomputers – owned by hedge funds – buy and sell millions of shares of stock, and sometimes the holding periods are as short as milliseconds. The goal of this sort of trading is to take advantage of market inefficiencies and scalp profits all day, every day. …The average investor would be a fool to try to compete against the institutions in this style of trading.” (Source)
Thanks for stopping by,
Gary
In general trading on the stock market can be risky. Throw in all of the different trading strategies and the average person’s head could explode.
I have lost my fair share of money jumping from one thing to another looking for that easy money, And in short you are quite right. There is no easy money, you can either work for it or you can make it work for you.
A word of advice is to always do your due diligence. Take an hour and research the potential investment vehicle. Take more if you need to, in this way you will mitigate some of the risk to your invested monies.
Thank you for pointing out this bad egg. Hopefully more people will see this and be educated.
Hi, Corey!
You are so right. Due diligence is essential.
In my experience, most people begin investing too soon. Successful investing begins with a solid financial management plan. That begins with a budget. Learn to live on a budget. Then save a large cash reserve in a savings account.
The purpose of the cash reserve is to protect your investments. If you have an emergency expense, and you do not have a large cash reserve, you will be forced to liquidate your investments to cover the expense. You never want to be forced to liquidate an investment.
Once you’re on a budget and have a large cash reserve, study one type of investing and get very knowledgeable of it. With investing, you make money because of your knowledge, not because of luck or hope. When you are confident you can make money with the investment you have been studying, take a small position and build it over time.
In my experience, successful investing is not exciting. It’s just a long math problem. People who invest for excitement are investing based on emotion. Emotional investing doesn’t work.
Thanks for stopping by,
Gary
Paying a robot to steal from you! Maybe that should have been your blog post title. It’s great that there are people like you that clear people away from these scam-bots as I call them.
I almost joined one of these binary options programs a while back, but came to my senses. I had this nagging feeling that it was too much like gambling. Like buying a lottery ticket, everything is set up for you to fail and them to make serious coin. I didn’t fall for the sales hype thankfully. This Binary Option Robot seems the same thing.
Thanks for this review.
Hi, Jason!
Brilliant title idea and it sums up what is happening perfectly. As you pointed out, trading binary options is foolish. People might believe they are investing, but it’s not investing. It’s the worse form of gambling where the odds a 99 to 1 you will lose!
And, that is with a legitimate broker who is registered with the SEC. There is only one registered broker, that’s NADEX. All the other binary option brokers are not registered with the SEC so the odds with them are 100 to 0 you will lose every time! It’s financial suicide.
Thanks for stopping by,
Gary
Hi. I actually think I glanced at this before I was able to get my gavatar account set up. It looks familiar. Even though this is a second glance I still love it. I am not very familiar with the type of stuff like this going around on the web. So this information is very useful and I have learned a lot from here. I really like the way you have incorporated so much information and yet it was not too overwhelming and very easy to follow. I really enjoyed this post thank you.
Hi, I for one do not like investment brokers. Then there are those who are like you said are telemarketers, the movie “boiler room” I guess is a good example of this.
The disclaimer I find if funny, its like telling you not to invest but then leaving those carats for you to follow. Has any law enforcement been able to stop them, or able to track them down?
Hi, lasnow!
I agree. I avoid investment brokers and prefer to manage my investments. It’s not difficult and you will avoid the churn and burn of brokers. Your mention of the movie ‘Boiler Room’ is accurate.
Binary Option Robot is a different animal. It does not follow any regulatory guidelines and is really just an affiliate hub feeding the unsuspecting to auto-trading scams.
I’m not sure what law enforcement is doing about scam sites like Binary Option Broker, but I do know they track them and often will limit access to them. The FTC is overwhelmed and relies of consumers to report online scams.
Thanks for stopping by,
Gary
Thanks Gary for very clear and understandable Binary Options review. Actually, the review of another so-called money maker robot. I had come across and even try to make some cash with Forex robot about ten ago. It was my first steps in online business, and it was not unuseful experience. I guess that spending some $ in similar enterprises is a good learning experience and can be counted as investment. No such robot created to make money without the help of the human brains. Although, I’m currently mining money in so popular cryptocurrency bubble with the help of Antminer s9. It is fun and I just awaiting a bubble burst.
Hi, Andrejs!
Free software is usually nothing more than a ploy to get your money. Free software cannot possibly have enough computing power to outsmart the market and that is assuming that it is a legitimate software. In the case of Binary Options, the software is bogus.
The fact that you had to purchase an Antminer s9 to mine cryptocurrency is a case in point. That machine costs about $3000 and uses a ton of electricity. Even with all that computing power, you still may not break even.
I’m glad you’re enjoying the crypto phenomenon. I have my reservations about it, because I do not invest in anything I cannot completely understand. However, I do feel blockchain technology will be as revolutionary as the internet has been, perhaps more so.
Thanks for stopping by,
Gary
Thank you so much for writing this article! I was thinking about working with Binary Option Robot, but now I know to avoid it. I didn’t realize all of the potential pitfalls until I read this review.
I wonder how something like this is allowed to exist when it is so shady…
Hi, Ashley!
Typically scams like Binary Option Robot are on servers in countries without regulatory agencies like the FTC. Also, they do not rely on search engines for their traffic. Instead of search engines, they offer very high commissions to entice marketers to promote to their list.
I suspect that they do no actually pay the high commissions. Why would they? They’re scammers. Still, the promise of high commissions is enough to trick unethical marketers into sending them traffic.
Thanks for stopping by,
Gary
First of all Gary, you did an outstanding job in explaining the fact that trading binary options is only to be considered as gambling. Too many naive individuals just do not understand the fact as you pointed out that participating in this type of venture is truly not investing.
Something that I picked up in your article; as NADEX is considered to be one of the only licensed binary option broker in the U.S. how in the world does a fraud company like Binary Option Broker get away with telling a lie that they are a part of NADEX when in fact it is not true?
The other sneaky thing about this fraud investment company is that they do their best to proclaim the false notion that they are connected with the legit Binary Options Broker when they are not?
As you pointed out in your article trying to inform your readers, buyer beware: First of all trading bots is a very risky proposition. This company will most likely cause a person to lose his/her entire investment believing that Binary Option Broker is legit – again promoting the lie that they’re connected with NADEX.
I agree with your assessment. Getting involved with this company definitely is NOT recommended.
Jeff
Hi, Jeff!
Binary Option Robot tells people what they want to hear, ie, that a free software bot can make them rich. All they have to do is download the free software and push a button.
No one in their right mind would believe it. Unfortunately, millions of people are in desperate financial straights and praying for a miracle. Financial pressures have made them delusional. Binary Option Robot exploits their desperation only to make their financial situation far worse.
I’ve known people to mortgage their home for a scam like Binary Option Robot.
Thanks for stopping by,
Gary
That was a great read, someone tried to get me with this scam. it just sounded to good to be true, I know their is a lot of good investment opportunities out there. I agree with you this is not one of them I would definitely stay away. It is better to learn the basics and create a great foundation learning how to do it on your own. Great advice, are their any investment affiliate programs you would recommend?
Hi, Brian!
In my experience, most online investment training cannot be trusted and are far too expensive. There is a lot of confusion about what it means to invest and many so-called investment opportunities are either scams or speculation. To clarify the difference between investing, speculation and scams, I wrote How to Invest.
For someone just starting out, I recommend they read the book “The Only Investment Guide You’ll Ever Need” by Andrew Tobias. You can get it on Amazon for about $10. Get it. Read it. Take it to heart. It will be the best investment you ever made.
If you want to go deeper into investing, I recommend any of the investing courses taught at thegreatcourses.com. These courses are taught by the best college professors in the country.
There is no reason to spend a lot of money to learn how to invest properly. Get Tobias’ book and get a few investing courses from to thegreatcourses.com.
Incidently, thegreatcourses.com has an affiliate program, but I’m not an affiliate. I have purchased courses from their parent company since before the internet.
Thanks for stopping by,
Gary
Wow, that is so far the most in-depth review I have read..
And the scariest one too!
I feel like there are a lot of mixed reviews about the “Binary Option Robot”, but since people who refer you there make 350$, it makes sense for them to “sweeten” the truth.
A lot of scammy things about this website, but I think it’s almost always the truth when someone is promising you FAST HUGE PASSIVE income!
Thank you a lot for this review, it will probably save a lot of money for a lot of people!
Hi, EvilGodness!
Binary Option Robot and the schemes it promotes are indeed scary. They hurt a lot of people. I agree, if an offer is promoting quick, easy money, it’s a scam.
Thanks for stopping by,
Gary
Have you heard at all about Regal Wallet, and the other services of Regal Assets? Not related to Regal Wealth.
There seem to be a lot of traps and money grabbing ads all over the internet, especially in the area of trading.
Have you seen some of the funnels created by Agora Financial, and others like it? The sensationalism used by these is almost laughable.
But for someone desperate to start making income, to start saving, to start funding a retirement, these things are very dangerous. And your reviews have a lot of value as a result.
I was wondering if you would have any familiarity with product testing? Are there some companies that are better than others? Thanks so much Gary.
Hi, Jordan!
I’m not familiar with Regal Wallet or Regal Assets. I am very familiar with Agora Financial and would not buy anything they promote. Hype is Agora’s middle name.
I was fortunate to learn investing back in the 1970s long before the internet and the barrage of “investing” nonsense it created. If you want to learn how to invest, I encourage you to read my short article ‘How to Invest.’ I wrote it because most people do not have a clue what it means to invest. Too many people confuse gambling and scams with investing. Until you can recognize a scam from a safe distance and know the difference between gambling and investing, do not risk a penny of your money.
In my article, ‘How to Invest,’ I recommend the book that got me started as an investor. The book has been updated and only costs about $10 on Amazon. It should be the foundation of every aspiring investor’s education. This book will show you several simple strategies for investing. Real investing is a lot easier than you might imagine.
Real investing is built on knowledge. If you don’t understand something, do not risk money in it. Successful investors KNOW before they commit to an investment that they will make money and approximately how much. If you put money into something HOPING to make money, you are not investing, you are gambling and it won’t end well.
I’m not sure what you mean by “product testing.” Do you mean testing investment products? I would caution you against any investment product. Those are usually created to make money for the people promoting them. Instead, study a market and become very knowledgeable in that market. You will then be able to see the opportunities.
Thanks for stopping by,
Gary
I agree with you and this binary option robot is a scam. Even real certified investment managers never tell you to go for binary option if really want to make money. Yes, you can earn online but for that you need solid knowledge. And your online entrepreneurship certification program is good for newbie learners.
Thank you for putting your time for such great scam reviews
Hi, Himbru!
At their best, Binary Options trading is pure speculation for the small investor. It is nothing more than throwing money at a wall and hoping by some miracle you will get back more than you threw. That is assuming you are trading with a registered broker like NADEX. Even then, you will probably lose a lot more money than you make. If by chance you do make money trading Binary Options, most of your gains will be taxed, so even if you win, you lose. That is as good as it gets with Binary Options.
Now for the worse. Most Binary Options platforms online, like Binary Option Robot, are not registered. They do not follow any code of ethics or rule of law. You will lose money 100% of the time with the unregistered brokers. Guaranteed!
Thanks for stopping by,
Gary