This company sells a service, a robot which works on binary options trading. Its websites (OptionRobot.com and OptionRobot.co.uk) have a web presentation which claims a win rate of 83% for clients who sign up with them. This is an impressive claim coming from an automated trading software provider, but you are obviously reading this review to find out why we claim that OptionRobot is a scam, so let’s get to it.
OptionRobot’s Trading Platform
Not much information is known about the origin of OptionRobot’s trading platform except that it was originally presented and developed by privatesignalsgroup.com. To be fair, the platform provides neat features which focus on trades that have short or turbo expiries. Clients can choose from various investment sums which begin at $5 (of course this amount will be dependent on the broker). The automated trading software trades in currency, USD/JPY, EUR/GBP, GBP/USD, AUD/USD, USD/CHF and EUR/USD among others. Aside from the overall default setting, registered investors get to customize their own algorithm from moving averages such as Williams, CCI, RSI, Stochastic and MACD.
How is OptionRobot a scam?
While all of the features in the trading platform are impressive, we raised a red flag because nothing on their website is legitimate since it does not offer a performance history to back up its claims. After conducting further research, we discovered that aside from the software being developed and presented by privatesignalsgroup.com, the testimonials and promotion has been done by them as well. Those popular traders that OptionRobot claims to be clients of are fake because we found out that their profile pictures are stock photos.
We decided to try OptionRobot to see if their win rate of 83% is legit. Unfortunately, we ended up wasting our test money for 1 day with 55 trades, 32 wins and 23 losses for a win rate of 58%. This is another raised red flag because a reputable binary options provider will make sure that the win rate is at least 70%.
In closing, clients should stay away from OptionRobot. There are better binary option providers out there which are worth the investment.