The Internet is getting saturated with binary options websites which declare that they are the solution for maximum financial gain. The question is, are these trading platforms any good? It is sad to note that we have been reviewing many providers which turn out to be scams instead of delivering more than promises. BlackBoxRobot may seem interesting at first glance, so new clients may be looking forward to something unique. Unfortunately, this automated trading system is not what it claims to be.
BlackBoxRobot Trading Platform
Most binary options trading platforms say that they will utilize an algorithm to analyze the best trading strategy for the current session, but BlackBoxRobot claims to offer more than just that. According to its website (https://blackboxrobot.com), its trading platform makes use of various algorithms (these include MACD, RSI, Fibonacci, Bollinger Bands and Price Action) and merges them together to arrive at the best strategy possible. This raised a red flag with us because anyone of those algorithms would be effective on its own, and combining these would lead to possible conflicts and a fake strategy overall. Their website also raised our eyebrows by claiming that their strategy relies on probability, when the reputable binary options providers will not rely on probability but on accurate data and correct calculations.
Moving on to the next red flag, the website of BlackBoxRobot claims that it works with binary options brokers which are licensed under a number of reputable regulatory bodies. It would have been a plus point for them, if only the brokers they deal with do not have a history of fraudulent business practices. One example of this is the OX Markets Broker, which has records of complaints from unhappy customers who were tricked into investing more money than they were originally supposed to. BlackBoxRobot earns money by referring clients to their brokers, regardless of whether the broker is a scam or not.
The final red flag was raised after the website mentioned that clients can tweak the settings of the trading platform and testing them to fit one’s preferences. The problem is that testing the automated system will require the client to deposit some money, since BlackBoxRobot does not offer a demo account. Binary options trading is a serious activity because the people involved are making a monetary investment. Clients must be able to test the trading platform to get the feel of the trade and to find out if the system does what it says it does and is profitable.
In conclusion, investors should steer clear of BlackBoxRobot. There are other binary options providers out there which offer better service and will really help their clients reach their financial goals.