Today we are analyzing a new auto trading software that comes with a free $1000 demo account, iBinaryRobot. The people behind the software advertise it as “a web-based free software for auto trading binary options.” I’ve decided to take a closer look, because the sales page is very professional but historically these systems have done nothing but lose money. In the majority of these cases, the software is actually a white label system that’s been promoted hundreds of times before. I’ll let you know if that’s the case this time as well.
The location and email address for this company are not listed on the website. There is a contact form which you need to fill out if you need to get in touch with the company.
One of the first things I always notice with binary options automated systems like iBinaryRobot, is the real lack of informed opinion. The entire sales page consists of less than 500 words of content, and none of it really provides in-depth analysis of their methodologies or trading strategies.
In my introduction I pointed out that systems like these are often white label and rebranded. Sadly, it does look like that is the case here as well. The trading platform and the sales page is almost identical to Binrobot Lady, and Pro Binary Bot.
Each one of these websites claim that they utilize 6 basic indicators to generate trading signals. None of the websites ever tell us how the indicators are used, and none of the websites ever really present us with any real trading knowledge.
According to the sales page the iBinaryRobot comes with 3 different trading styles.
Classic – This is the safest trading style, which allows traders to set trade amounts anywhere between 5 and $500. We are not told what makes this strategy safe.
Martingale – Martingale is never a good idea as far as I’m concerned. This is more of a gambling trading strategy and it really shouldn’t be involved in any binary options trading system.
Fibonacci – This is supposed to be the most accurate trading system, but just like the classic system it is not elaborated on in any real detail.
I really didn’t want to come in here and rip the iBinaryRobot, because I’m an overwhelmingly positive person. However, it’s very difficult to give anything more than a 2 star review for system that’s already been promoted and sold under many different names. The history of the past systems is quite negative, and considering that this is the same software, it would essentially have the exact same fate. Hopefully the developers have made some changes to the software, but that’s never happened before, so it’s likely not going to happen now.
Be very careful if you ever sign up with an automated binary options system. This type of trading systems are not yet perfected in the binary market, and are mostly used as tools by affiliate marketers to siphon cash out of your wallets. You are much better off with a signal service or a binary options software that uses real strategy.
Thanks for stopping by and feel free to leave a comment with your thoughts.