BinaryOptionsRobot Review: This Robot Serves Insidious Masters

The company we’re taking a look at today is suffering from a huge identity crisis. It is trying to push their services as being part of an affiliate campaign or a signal seller, but at the same time it advertises deposits, and trading on their own platform.

While the website certainly looks informative, it is actually full of weasel words that mean nothing to a seasoned trader. Thus, we can conclude that the company preys on the newcomers, and attempts to entrap and defraud them.

Stay safe when investing online – read about online fraud in our BinaryOptionsRobot review.

Blacklisted Company

One of the main hurdles when it comes to gauging the legality of the operation lies in the fact that the company offers very disparate services.

At the first glance the BinaryOptionsRobot scam site may appear to belong to an affiliate campaign, but it also advertises automated trading signals, as well as a proprietary trading app. 

While inquiring the databases of various financial regulators for any trace of the firm, we found numerous warnings.

The regulatory bodies that have placed this company on their black list include CNMV, DFSA and MNB. It is clear, then, that the website serves as a front for fraudulent services.

Schemers’ Deception Strategy

The swindlers use social network profiles on Facebook and X in order to reach out to a large pool of consumers. Additionally, the firm has paid for various fake BinaryOptionsRobot reviews, which may be found in the form of numerous articles and online videos.

Instead of providing any trading amenities of their own, the website instead serves to solicit services of another firm. Clients are encouraged to leave their personal information on the site, so that they may allegedly be connected to a firm that best suits their needs.

In reality, though, the data about interested traders is collected and sold to various boiler rooms. The company may profit either through the sale of the entire batch of information, or through various commissions.

What the Firm Offers

The site is full of various uncorroborated claims, many of which contradict one another. This is done in order to appeal to the largest possible consumer base. None of the advertised content is actually available, and the interested parties are simply redirected to a scam broker website.

Alleged Trading Signal App

The BinaryOptionsRobot app is one magical piece of technology, which integrates with any number of different brokers, and allows the bot to trade on your behalf.

The app is said to be 100% free, safe, secure and compatible with mobile devices. It is said to work without any download, but it is not actually available for testing despite a demo allegedly being available.

Banned Trading Instruments

The firm makes numerous claims about providing features that specifically cater to binary options trading. This form of market speculation is banned in most nations in the world, due to the ease of manipulation and the inherent market volatility.

Regardless of that, this affiliate campaign advertises the following instruments:

• Forex – EUR/USD, AUD/CAD, USD/JPY
• Cryptocurrencies – BTC/ETH, BTC/USDT, ETH/USDT
• Stocks – Intel, Tesla, Apple
• Commodities – Gold

Scam Brokers Welcome Registrants

The fraud is pretty self explanatory, and everything is clear from these lines found in the legal docs: “You are allowing BinaryOptionsRobot to automatically create a broker account in your name and on your behalf. By depositing with a broker and activating your BinaryOptionsRobot trading account you are admitting and permitting BinaryOptionsRobot to place trades on your behalf, on one or more forex options brokers”.

When we signed up for the platform, we were redirected to a scam binary options trading website: deriv.com. This proves the exact purpose of affiliate schemes – delivering new victims to unregulated online trading firms. In contrast to being affiliated with premium brokers like Funds For Traders is, this platform has picked far worse partners.

Demo Environment

To encourage you to stay and deposit real cash, you will even be offered to start with a BinaryOptionsRobot demo account. This is a simulated trading account with a virtual margin of $10.000. It is just a part of the scheme that will have you believe investing is easy. These controlled trades, however, do not resemble real markets.

Nothing is Free

While these miscreants will have you believe the entirety of their services are free, that is simply not possible in reality. Everything costs and free service doesn’t exist. Otherwise, how would brokerage platforms earn? 

The BinaryOptionsRobot crypto fraud promises you can start trading and making money with just $10, but nowhere is it explained what other costs are included. Not even the basic trading terms are revealed, and they depend on the broker you eventually sign up with.

What is most likely the case is that hidden fees and surprise commissions is what these cyber criminals have in store for their victims. Elliott Wave Forecast is another platform known for overcharging their services, only a different kind.

Can You Withdraw?

Fraudsters say that they accept deposits in any number of FIAT or cryptocurrencies. These include USD, EUR, GBP, and many others. There is no information about which channels one would use to deposit or withdraw the money, however.

Legitimate firms will always outline their payment channels, be it bank cards, bank wire transfers, or e-wallets for instance. This is very important, as it needs to be in line with the international AML regulation.

This platform, on the other hand, does not operate as a legitimate entity. As a company that does not actually provide trading services, it never featured any withdrawals either.

Stop Wasting Your Time! Try Prop Trading Instead!

Online trading software solutions are still not as advanced and unmistakable as this shady scheme would like you to think. In truth, everything they want you to do is hand them over your capital. That’s why they are ready to promise anything to get their hands on your funds.

Instead of worrying where your investments are ending up, you should consider signing up for our prop trading solution. Our company representatives are always at your disposal and willing to guide you through the process of getting funded with up to 180.000.

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