97 Partners Robot – Scam or Not

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    Best Binary Options Broker!
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  • Binomo
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97Partners Review

97Partners is yet another Forex trading robot which promises to make huge profits for its users. So does it really work or is 97Partners just a scam?

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RISK DISCLAIMER: Trading Forex is highly speculative, carries a level of risk and may not be suitable for all investors. You may lose some or all of your invested capital; therefore, you should not speculate with capital that you cannot afford to lose. You may need to seek 3rd party financial advice before engaging in Forex trading.

TBBOB

Fighting online scams since 2020

Alert – Option Robot is a scam – real review

One of our readers asked us to have a look at the “Option Robot” from OptionRobot.com and OptionRobot.co.uk. So here it is.

Option Robot is a robot that trades binary options. According to the web presentation it has an 83 % winning rate, which is pretty big for a free piece of software.

Table of Contents

Dangerous

The first thing that should serve as a warning with Option Robot is that it uses Martingale as one of the money management systems. We have warned against Martingale several times and we are going to do it again now.

Martingale basically means more than doubling your investment if you get a losing trade until you get a winner. This really can wipe out your account in a matter of minutes if you get a series of bad trades, which happens regularly in trading not only binary options, but in trading in general.

So any trading system that uses Martingale with binary options is extremely dangerous and you should stay away from it.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker!
    Perfect For Beginners!
    Free Trading Education!
    Free Demo Account!
    Sign-up Bonus:

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

Although the presence of the Martingale system is enough for us not to recommend Option Robot, we decided to test it anyway. So we opened an account and started demo trading. And we immediately saw that there was something wrong.

In order to be able to concentrate on the trading, we let the robot trade only one pair, the EUR/USD, and only one trade at a time. We did not change anything else in the settings.

And look at the following video, on the left you can see Option Robot in action and on the right a real live EUR/USD price feed. We placed a yellow horizontal line at the price (+ – 1 pip) where the robot entered the trade.

As you can see, the Option Robot demo is faking trades, this trade should have been a loser. The price was going down, but the robot closed the Call option as a winner, although in reality it should have been a loser. You can see that the Option Robot demo price feed is not the same as the real price feed, after the trade is open it shows a price spike that never happened.

So trading on their demo can be very misleading. It is the same as with Ultimate4Trading, a fake demo will make you believe that the system is profitable, but if you open a real account through Option Robot and deposit money, it is very possible that you will lose it.

Conclusion

Option Robot is just another scam promising profits on binary options, but its real aim is to make you open an account and deposit money with one of their brokers, because they will get paid for it.

If you want to try binary options, do it on a free demo that is real with real results. Only then you will see what it takes to make money with binary options, no free robot can do this for you.

Option Robot

Robot Name: Option Robot
Founded: 2020
Type: Robot
Price: Free*
Return: N/A
Trading: BO
Demo Account: No
Minimum Deposit: Up to Broker

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.

4.5* Binary Options Robot Review – Best Automated Software 2020

Binary Options Robot Review – We have scam tested and found Binary Options Robot as a genuine system that offers plenty of excellent features for its users. Best of all it’s free, fully registered and has a great portfolio of trading partners. Highly recommended! ***

Once in a while, it makes a happy change to be able to review a legitimate binary tradings platform. The Binary Options Robot platform is one of the most reliable and reputable platforms out there. It’s fully transparent about how it works and serves to match-make clients with traders depending on how risky the wish their trading style to be. As we’ll see in this Binary Option Robot review – this isn’t a scam that’s going to blaze/steal funds in the blink of an eye. Instead, this is a genuine and proven way for people to make money using binary trading. Bear in mind that it’s focused on currency trading so that’s going to rule out US-based traders, but for the rest of the world, Binary Options Robot App is a quality choice.

How Binary Options Robot Works ? Binary Options Robot Review !!

One of the most refreshing aspects of the Binary Options Robot website is that it literally strives to explain in detail how their operation works. Most of the scams we’ve reviewed present as little information as possible, and what they do offer is usually completely nonsense or lies. However, with Binary Options Robot, it’s explained that they are a brokering service for high-quality reputable traders. This is why they offer their services totally for free – as they make their income through the commission they receive from their partners.

Official Webpage: – BinaryOptionsRobot.com

Now, this may set off alarm bells for some traders, as many scam operations use the same model to introduce their clients/victims to fraudulent traders who will expropriate their funds. Rest assured that the Binary Options Robot review system works with legit, traceable and high-quality traders only. In a way, they’ve basically vetted the trading houses they work with to deliver only the best to their clients.

Important Features Of Binary Options Robot Software Explained!

Again this is a feature that really helps make the Binary Options Robot program stand out. Not only is their software completely free to use, but users don’t have to directly download the software. All that’s required to use the software is an internet connection and it can be used on all platforms, including mobile.

Using the Binary Options Robot review software is a piece of cake and doesn’t require any technical knowledge – although as ever it’s recommended that prospective traders learn the basics first. Upon login, traders can search through the dozens of traders on offer and examine their live statistics. The best way to do this is decided first upon what level of risk you’re willing to take. The Binary Options Robot software allows traders to decide between four levels of risk and serves basically to match investors with a suitable partner.

Each partner will have different deposit arrangements and will be transparent on their trading performance. It’s important to note that most of the time these will be performing between 70%-80% in wins. This is a realistic scoreline for a legitimate binary trading operating and has to be considered as further evidence that in no way is Binary Options Robot A Scam.

How does Trading work With Binary Options Robot System?

A massive warning sign that a trading platform is a scam is when it claims to be 100% automatic. Literally, every scam we’ve exposed out there claims this feature. The problem is that many legitimate systems also offer this service – the difference being that they offer users masses of preferences and options of how to set up their trading profile. As we’ve just seen the Binary Options Robot review system offers a fully automated service, but a considerable number of options to choose between.

The good news is that it gets even better. Users are also offered a stop-loss setting, which is something that is a clear cut sign that the Binary Options Robot system isn’t fraudulent. Most scammers work by basically obliterating trading balances within a couple of huge trades – something which simply cannot happen with Binary Options Robot. Every trader has the occasional bad run, but users are protected from losing everything in one fell swoop. For the more technically minded there’s also reverse trading features that allow users to basically overrule the trader’s decisions. Once more, this is a feature you’ll never see offered by scam software.

So in a nutshell, once the Binary Options Robot settings have been decided upon users can then leave the software to its own devices. There’s no need to participate any more than the user’s wishes – signals will all be acted upon automatically. Naturally, this makes it a very solid choice for those utterly new to this style of trading for it assumes no prior experience. Literally, all the client needs to do it set their strategy and leave the groundwork to the software.

Is Binary Options Robot A Scam ? Can Binary Options Robot Be Trusted ? Find Out !

It’s always advisable to approach every binary trading platform as a scam, simply because they make up comfortably 90% of the market. Hopefully, so far in this Binary Options Robot review, it’s becoming apparent that these guys aren’t scammers. There’s plenty of other pieces of evidence that also help contribute towards being able to confidently make this assessment.

Why Must You Join Binary Options Robot Autotrader? Steps to Join – Explained!

Firstly and most importantly of all they’re a fully registered and regulated business, offering email and web chat customer services. As the client doesn’t pay a penny directly to Binary Options Robot directly, there’s obviously no way they’re going to be even able to run away with your money. From the client’s perspective, they’re completely free. Another nice feature that’s also encouraging is that they offer a number of introductory bonuses, VIP service and even a referral bonus for sending more trade their way. This is by no means whatsoever a ‘spin a quick scam’ – this is a legit business that’s clearly taken a while to set up.

One final excellent feature is that the Binary Options Robot review website also offers extensive guides to trading. There’s an entire section of their website offering advice, news updates and a comprehensive FAQ section that is perhaps the best I’ve yet seen anywhere. This naturally implies that Binary Options Robot is seeking to develop a long-term relationship with those who use their services. It’s a sleek, highly polished operation that would again lend it towards being a highly recommended choice for new traders.

Conclusion: – The Binary Options Robot is Scam Free & 100 % Trusted !!

Quite clearly Binary Options Robot Autotrader is not a scam. Instead, it’s a really solid and trustworthy option that has to be very highly recommended indeed. While there’s always going to be a risk with this style of trading, the fact that the Binary Options Robot review software is so thorough in protecting clients – while also matching them to a service appropriate to their style – is extremely impressive. Binary trading often gets a bad press because of the proliferation of scams, but Binary Options Robot should be taken as a beacon that there are quality legitimate operations still out there.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker!
    Perfect For Beginners!
    Free Trading Education!
    Free Demo Account!
    Sign-up Bonus:

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

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