Today I’m looking at an automated binary options software that claims to be innovative and simple to use, FinTecBot. According to the sales page, traders simply have to create a free account, deposit with a broker and then start the auto trading. As simple as this sounds, there have been thousands of trading strategies like these that have failed to produce consistent results. Due to this, it’s important that we review every element of the sales page and point out any flaws or misconceptions that may arise during this process.
The offices for the software are located at 835 E. Lamar Blvd. #263 Arlington, TX 76011. This is somewhat odd because the software does not allow traders from North America to register. The developers are RagingBull.com LLC, which looks to be a stock trading service. To contact support, you can use their contact form, there is no direct email address.
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The first impressions on the FinTecBot is that it’s just like any other automated binary options software I’ve reviewed in the past three years. There is very little information provided, the results section is inadequate and the testimonials are increasingly difficult to believe. So where do we go from here? Well, the review needs to be written, but it’s hard to believe that the developers are going to be able to sway me from this first impression.
There are six “incredible benefits” the development team is pushing forward.
- 100% automated trading, even when you are not online.
- 24/7 support.
- No download required.
- Safe and secure with multiple brokers.
- Easy to use settings.
- Free signals from Pro traders.
This is normal, we see these type of bullet points frequently in the binary options marketplace. It sounds well and good, but it doesn’t mean that the software actually works.
The developers tell us that the FinTecBot is using a “patent pending trigger technology” that has “eliminated the issue of latency typically associated with auto trading binary products in the marketplace.” This is lazy marketing. If you look at any auto trading system released in the past 6 months, you will notice that every single one of them claims that they are either reducing or eliminating latency. They are trying to tell us that their trading platform is faster than every other auto trader in the market, and that’s the main difference.
That’s not the problem with auto traders.
The problem with binary options auto trading systems is that they don’t have actual trading strategies. These trading systems have no trade logic and that’s why none of the sales pages ever tell us about their trade logic. Instead, they just tell us that it’s fast, but that’s not enough.
The results section is very underwhelming. The more I look at it, the more I feel like it’s just a script the changes the date and shows us a bunch of random trades that weren’t even generated by the software.
The FinTecBot is offering nothing unique to the binary options marketplace. They do not prove to me that they have any real trading knowledge or that this trading system utilizes some sort of trade logic to generate opportunities.
Please let me know what you think about this software, and whether or not it should be trusted by the Binary Today community.