Options trading is a complex and essential part of online trading.
Option Robot is a new system for automated binary options trading that allows you to program the “robot” and have it placed trades for you. In other words, you can focus on doing research and building your strategy while Option Robot performs the trades. Since this is a new system, we at Business 24-7 felt it essential to investigate this system, provide a detailed explanation of our results, and provide our official rating.
How the system works?
Option Robot uses trading signals and algorithms to predict and analyze the most profitable options trades in the market. The system then presents these signals to the trader, who then places the trade or not. In addition, you can turn the system to “Autopilot” so that Option Robot will initiate trades automatically. Option Robot has a surprisingly good success rate for a system that is so new, which indicates that your trades may perform profitably with either option.
Different from many other options systems, Option Robot does not have a membership fee. You do, however, have to have an open account with one of their binary options brokers. (The Option Robot website has a list of approved brokers.) In order to open an account with one of the recommended binary options brokers, you need to make a minimum deposit of $250. As soon as your account is created, you’re able to connect Option Robot to your account and begin trading immediately.
Getting started with Option Robot is very simple. There are four steps you need to take to get started with Option Robot:
- Open an account;
- Choose your broker;
- Make your initial deposit;
- Start trading.
As soon as you begin trading, you’re given the option to trade automatically or trade manually. After you have generated sufficient profit, you will be allowed to withdraw your money to your bank account. Remember to check the terms and conditions of your broker regarding any fees you may need to pay for withdrawing funds.
How To Use Option Robot Software?
You might be asking, “How does Option Robot work?” After you’ve gone through the four steps listed above, you’ll be able to begin setting up the software the way you like. You can adjust the number of trades placed, the accuracy rate, and the amount of money invested per trade.
Option Robot also offers a new setting where you can choose the type of technical indicator you want to use. There are six technical indicators you can choose from, which are:
- Trend Indicator;
- Williams Percent Range;
- Relative Strength Index;
- Moving Average Convergence Divergence Oscillator;
- Stochastic Oscillator;
- Commodity Channel Index.
Another unique aspect of Option Robot is that it allows you to select two of these six technical indicators at a time. That means you’re able to configure the software to only place trades if both indicators match.
For example, if you choose the Williams Percent Range and Commodity Channel Index as your two indicators, the system will only place a trade automatically if both indicators agree.
Requiring that the system use two technical indicators before making a trade means you will end up with fewer total signals. The benefit is that you will have increased accuracy and, therefore, a higher percentage of winning trades. As always, be sure to test everything before allowing the system to make large trades for you.
The software also offers three different trading system formats. Those formats are Standard, Martingale, and Fibonacci.
The Standard trading system is by far the safest and is a wise choice for beginning traders. The Martingale system is a middle ground that allows for significant profit increases but also carries substantial risks. The Fibonacci system is the most complex of the three and is generally not recommended for beginning traders. Once you have a little bit more experience, the Fibonacci system is what Option Robot names its “most accurate system ever tested.” We recommend that you test this system using a demo account before attaching it to your real money account.
Inside the Option Robot website, you can click on the settings tab, which will show you the details of your account as well as let you watch a short video demonstrating how you can change the other settings.
There are also other ways that you can configure your software. For example, you can vary the trading windows from anywhere between 30 seconds to one hour. You can also set your system to execute up to eight trades simultaneously.
In summary, Option Robot allows you to automatically or manually trade using these four variables:
- Six technical indicators;
- A wide variety of expiring times;
- Three different strategies;
- Up to eight simultaneous trades.
Nine tips for avoiding robot scams
- Lack of product information
If you are struggling to find information and details about the features of the robot, that’s a possible sign of a scam.
Websites that are trying to scam you will often give you enough information to make you want the product but not give you enough information to understand what the product features are. Automated options trading companies that are honest will provide you with enough information and facts upfront that you’ll be able to logically understand why their product is the right product for you.
- Unbelievable promises
Probably the most prominent warning sign is that of exaggerated results like “make $10,000 per day with no experience.” There is not a single automated binary options trading robot available today on the market that can guarantee that type of outcome. And frankly, we don’t think any automated system will ever be able to do that.
More realistic expectations are a few thousand dollars per month, but even that won’t happen until you have some experience. The more experience you have, the more testing you do, and the more testing you do, the higher the probability of your success. In short, if a website “guarantees” trading income, just walk away.
- Few available assets for trading
Some of the worst scam robots out there will only let you trade in one asset. The reason it’s an issue is that only having one or two assets to trade means you will struggle to make any money. The more assets available that you have, the more trading offers you can make, and the higher your chances for establishing or increasing your income.
Often, robots will specialize in a particular asset. This specialization is different, and some of the best binary options trading robots have a specific emphasis. However, they are not limited to just one asset. Fraudulent robots, in contrast, will limit the number of assets you can trade.
- Expensive upfront costs
Especially when you are a beginner in binary options trading, it’s best to use some of the many high quality and free binary options trading robots that already exist on the market. You do not need to pay tens of thousands of dollars to gain access to an options robot. Do some research and find the free ones that fit your trading style. After you’ve generated a consistent income using the free robots, then you might want to move up to a paid robot to get the extra, more advanced features.
- No customer service
Most scammers are very difficult to get a hold of when something goes wrong because customer service is expensive and difficult to manage. Often, the contact information on the site is either missing or fraudulent. If you do find some customer support information, be sure to contact them and ask at least one question before you buy it. Observe how quickly they respond and how accurate their responses are. The faster and higher quality response, the higher the probability they have proper customer support and are not scammers.
- Poorly designed website
Professional-looking websites are expensive, and scammers usually don’t want to spend money on those kinds of things. To them, their scam is just a way to get money fast. Because of this, their sites may look “old” or even immature. Be aware of this when you see a website like that.
Always do your research, be aware that there are “stock image” websites that many scammers use to get pictures of “happy customers” and then make up the story or a testimonial for that image even though it’s not true. Beyond that, the photos may have been manipulated to look different than reality. While not a fool-proof way of identifying honest companies, a well-designed website that looks as stylish and attractive as the website of large, well-known companies can be an excellent way to make that first judgment.
- Lack of previous trading history
If you’re unable to find information about past trades, you should walk away. Many scammy websites claim vast income possibilities but then never provided any evidence of their successful trading history.
That said, sometimes the trading history can be a little bit difficult to find. However, companies that back credible trading robots will always post their product past trading history somewhere on their website. Generally, the longer the history, the more reliable the company.
- Short product history
Having a brief trading history doesn’t necessarily mean that it’s a scam. It could just mean that it’s a new product. However, if you are new to options trading, then it’s best to avoid options trading robots that don’t have at least a few years on the market. They may not always have all of the newest features, but scammers don’t have long histories on the market.
- Software and broker compatibility
The more binary options brokers that an automated robot can interface with, the better. You should use the research and experience of credible binary options brokers to help you as you try to filter out the scammy websites. You can do this by researching which of the reliable brokers an automated robot is allowed to interface with. If the broker doesn’t trust the robot, neither should you.
One important note as well is that you need to be able to turn the robot on and off whenever you want. Also, be sure to keep your investments inside of the broker’s account and not inside of an account that’s owned by the same company as the robot. By keeping these two things separate (though connected), you can reduce the possibility of getting scammed.
There are six technical indicators Option Robot offers. The user-friendly system is an excellent option for beginning binary options traders. Sign up is quick and straightforward. Option Robot has three different money management systems that can help increase your earning potential, which are:
- The Classic system;
- The Martingale system;
- The Fibonacci system.
Using Option Robot will allow you to interact with some of the best brokers in the world. Option Robot also has an exciting feature that they have named the “Reverse Trading Feature.” This feature allows traders to go against the signals generated by the robot. In other words, if you believe that the system is giving you signals that are incorrect or not profitable, you can reverse the trade with just a few clicks.
Is Option Robot a scam?
With new scams appearing almost every day, it is difficult to identify which systems and automated robots are effective and credible. Our investigation and professional evaluation of Option Robot indicates that it is 100% credible. Option Robot provides on its website their winning ratio which is around 83%. Such a high percentage puts Option Robot as having one of the highest success rates in the market as of this writing.
Another great benefit of working with the Option Robot is that most of the brokers listed on the official Option Robot website are regulated brokers. This regulation is necessary because that means those brokers have stringent policies, laws, and regulations that must be upheld at all times so that your money is as safe as it can be.
Based on our exhaustive review of Option Robot, it appears to be one of the best and most reliable automated trading systems or so called option robots available today.
- User-friendly interface
- Fully-automated trading system
- Manual trading
- Variety of trading assets
- Many reputable brokers
- Required minimum deposit