Also known as “AutomatedBinary”, this new trading platform claims to make use of an algorithm which can predict and detect the future movements of communities like silver and gold among others. According to its website, the trading platform is accurate enough to produce an 80% win rate. This package looks enticing for investors, but does this trading platform deliver when it counts the most?
AutomatedBinary’s Trading Platform
We navigated the entire website and raised our first flag when we did not find any information on the people behind the trading platform. We then realized that the reason for this is because AutomatedBinary is a white label trading bot that is open to any bidder. Any unscrupulous company can just purchase Auto Binary System, tweak the interface a bit, and begin scamming innocent people! The trading platform looks just like scam websites such as binary options robot, Golden binary robot, iRobot and many others.
Aside from the similarities in user interface, the trading platform’s algorithm makes use of combination strategies from Stochastics, CCI, Bollinger Bands, Trend Following and MACD. It is surprising to note that turning these indicators on or off does not alter anything about the system’s behavior!
How is AutomatedBinary a scam?
The moment a client signs up with this trading platform, they are required to register with a broker they will recommend. This would have been okay if not for the fact that these binary options brokers have been uncovered as scams as well. The second red flag was raised here.
AutomatedBinary offers a demo account worth $50,000 and they claim that it is set to win in trading sessions all the time. The trick here is that the trading platform is actually not linked to online markets, and is being rigged to win so that clients will have a false sense of security. Once the trial period is over and the clients invest money, the system will then show its true colors. The client could lose as much as $750 within 48 hours regardless of whatever settings he or she sets in the interface. This made us raise our third red flag.
In closing, clients are advised to stay away from AutomatedBinary. There are better binary options providers out there which are worth the investment.