You’re about to get rich again! Ah, getting rich seems to be so easy these days; everywhere you look there’s a free software or a guy willing to give you the Secret to millions. Most of the time I feel bad about all the people who get scammed by these robots and autotraders, but I have to admit, some guys have it coming. It’s really easy to spot a blatant scam on your own and on top of that, we do our best with these reviews to open the eyes of our readers, so if you don’t see it, I cannot stop you from giving your money away. Here’s another warning, take it or leave it.
What Is Option Robot And How To Stay Away From It
Unlike most of the software that comes out these days, Option Robot doesn’t show a sales video with a wonderful story of success so actually I am less entertained. The truth is that to me the sales videos are very funny, I like watching them – not because I believe a word of what they are saying but because I am curious to see how far they take it. I’ve seen guys who claim to control weather satellites to predict the market, others have *allegedly* cloned the mind of Warren Buffett and some even claimed that their robot doesn’t only predict the market but it creates it!!! That’s what fairy tales are made of! Sprinkle some stardust on top and you have your millions.
But let’s return to our Option Robot (no cheeky name like Quick Cash or Millionaire Stay-At-Home Mum): this one is an autotrader that uses technical indicators like MACD, Stochastic, Relative Strength Index, CCI and more to predict the next move of the market with 83% average accuracy (or so they say).
Once you fire up the thingy, you can choose how many indicators you want to use by simply ticking a box next to them but I am not sure how this affects the advertised accuracy. I mean, using only one indicator will make it less accurate than using all of them? Should I use more than one? Maybe using too many will give conflicting signals. I don’t know man, I’m confused and the Option Robot team doesn’t help me at all; they just say I can use more than one.
The trades will be executed automatically on your linked brokerage account and you can choose from several brokers (some are top tier, such as Stockpair and 24Option, others you should stay away from). Also, you can choose from 3 trading systems: Classic, Martingale and Fibonacci. They say the first is the most secure, the second can bring you faster profits but it’s riskier and the third is the most accurate. More confusion here, as I have no idea what are the rules of each system. What does “classic” even mean? And there are so many ways to use Fibonacci – which one are they using? And Martingale… just stay away.
The Option Robot – Finding Some Positives?
A few positive things I have to note so far: the signals are generated by technical indicators, not by Skynet or Gandalf. Some of the recommended brokers are actually legit. They warn about the risks of Martingale, without focusing only on the profits you can make. There’s a functioning Live Chat feature (I actually talked to a representative) and they offer brief reviews of all the brokers you can link your account to.
I talk about these positives because I want to paint an accurate picture and to give you the best idea of what you will be dealing with, but that doesn’t mean for a second that I believe Option Robot is a good choice for you. No, scratch that – I don’t know what is a “good choice” for you. I only know what a good choice is for me and in my opinion, just saying that the robot uses RSI, CCI, MACD or whatever indicator doesn’t make it 83% accurate. Having a Live Chat doesn’t mean they are not a scam (I am sure you’ve encountered scammers with a Live Chat feature). Just because something is not screaming “I am a Scam” doesn’t make it good and – again, in my opinion – this Option Robot doesn’t give enough information and hard evidence to make me use it with confidence…or to make me use it, period. Mostly because I hate Binary Options trading robots!
The Obvious Conclusion: Stay Away!
Please don’t believe for a second that someone will give you for free a software that will make you money on autopilot. Yea, feels like I am repeating myself, and I am. I’ve said this many times but I will keep saying is as long as people still fall for scams like Option Robot and many others similar. Almost forgot: they offer a free Demo to test the robot out. You will probably make a lot of money on Demo and then think “Oh, that guy on BOTS doesn’t know what he’s talking about. Option Robot works!”. No guys, it doesn’t work and the Demo is probably rigged to make you think it works and then invest real money. Nothing is what it seems and if it sounds too good to be true, guess what… it isn’t.