Option Robot Review
You’re about to get rich again! Ah, getting rich seems to be so easy these days; everywhere you look there’s 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 like GreenFields Capital, Wise Banc, Ashford Investments (which is actually closed), Brighter Trade and others. Most of these brokers are unregulated and some have even disappeared from the scene or have changed their name, moving out of the dying binary options industry but there are also a few good ones among them.
Why Option Robot Doesn’t Suck?
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. Also, they have been around for a few years now and they don’t look like the regular rubbish funnel or the scam robots we are used to. Does that make them OK to use? Will you make money with Option Robot? I don’t think so, but they are a step above some of the other trading robots out there.
Why Option Robot Sucks
I talked about the positives above 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 that I believe Option Robot is a good choice for you. No, scratch that – I don’t know what a “good choice” for you is. I only know what a good choice is for me and according to my opinion, just saying that the robot uses RSI, CCI, MACD or whatever indicator doesn’t make it 83% accurate.
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. Partly because I don’t like Binary Options trading robots and partly because it claims to make me rich with a push of a button and my mind simply cannot comprehend that.
The People’s Voice – What Users Have To Say About Option Robot
No matter how bad something is, you will always find some people supporting it for the sake of arguing with someone or for other reasons like affiliate marketing. So, yea, if you look around the web a bit, you will find review sites praising Option Robot for its accuracy, ability to make money and all that jazz. Take it with a pinch of salt, please. In the meantime let’s see what users have to say about it in our comments:
Here’s Nothando who just wanted to register and was planning to decide later whether or not to deposit money. But the well-known broker aggressive marketing kicked in and he was pestered with phone calls asking him to deposit. Typical broker behavior.
Chandra wasn’t so lucky and she actually deposited with the “stupid robot”, which resulted in her losing money. She also mentions getting annoying calls everyday, so I see a Modus Operandi emerging: Option Robot hooks clients and then their broker is pressuring for more and more money.
Last but not least, a “fine print” warning from one of our readers:
The brokers’ minimum investment is 250 but you can only withdraw the profits if it’s over 1000. Well, that’s interesting. I am not sure where he read that (I know he says it’s on the bot but I couldn’t find it) but it’s definitely something worth checking if you still want to use Option Robot after reading this review.
The Obvious Conclusion: Stay Away!
Please don’t believe for a second that someone will give you for free software that will make you money on autopilot. Yeah, feels like I am repeating myself, and I am. I’ve said this many times but I will keep saying it as long as people still fall for autotraders 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 ThatSucks 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.