Option bot signals - stay away from this scam

[Houston]

optionbot2.0

I had trouble with an option bot 2.0 administrator (B** from optionX) "I need your deposit confirmations emailing and I can approach the brokers again". This is regarding integrating the optionbot 2.0 software with the 5 trading platforms, in my case it was 4 due to my $$ restrictions. I had emailed the trading platform companies and their reply was the same, either it was not their policy to provide a receipt & some did not even reply. Wow , I was left in limbo, I could not get the deposit receipts & fully utilise the optionbot 2.0 software. So I took a screenshot of the deposits of the 4 trading platforms and emailed (B** from optionX), this was deemed unacceptable and I could not go any further, what a shame. So did you have to provide an email confirmation like I did and if not, how did you use the optionbot 2.0 if it was not calibrated with the trading platforms, because I tried using it & lost money. I still have all the emails from (B** from optionX) & tone was defensive & the outcome was zip.

I agree with you 100%

 

[Diogenes]

I'd like to add my experience and thoughts....
I tried the OptionBot software over a period of two months. One of the individuals at the company was helpful, but it was impossible for me to make a profit - I lost everything I tried. The software is in my view at best unreliable.

I also submit the reliability of the company may be questionable. The Binary Option companies they recommend include scam companies such as XPMarkets. I challenged the OptionBot people directly on this when I lost a great deal of money to the XPMarkets company, but at the recommendation of the OptionBot advisor. The OptionBot people denied ever hearing anything negative about XPMarkets, even though it's all over the net.
Also, there are questionable sites like Binaryoptionswatchdog.com who purport to be a watchdog, and strangely pan reasonable BinaryOption companies, but praise questionable ones, as well as promoting OptionBot2.
In short, there don't seem to be any credible reviews of OptionBot2, and many questionable ones. Consequently, I believe all should stay away from OptionBot until FPA or some other reliable site gets a chance to do a proper test and review of the software.

Given this thread, I would be delighted to be proven wrong by the OptionBot company, but my lamp is lit, and I'd be wary of all but serious evidence. To put all our minds to rest, the OptionBot company could simply put their software through the FPA testing mill. A six month test with real money would certainly answer most questions.

Diogenes

 

[Mat Ch]

Option Bot review sites, are they really neutral?

I received lots of email regarding Option Bot 2.0, and when I searched the internet for reviews, I found lots of web site that claim to have reviewed the SW, so i joined the forums and tried to learn more about their first hand experience and in depth reviews.

For 2 days i read through their discussions, and found that all comments and reviews are positive, including lots of You Tube video endorsements from the administrator.
The most active one:
binaryoptionschannel.com/binary-options-signals
Another :
ezsignals.com/option-bot-review

Yet I have read actual user comments from FPA which are totally different from the above sites and others.

I then politely asked the administrator who have lots of YouTub videos endorsing OB 2.0 :
- I dotn doubt his expertise in evaluating OB 2.0, but there are negative user feed back on FPA and over the internet
- lack of 3rd party trade records that shows results for a few months, not just a few days, or just fast-forward 20 min YouTube videos

After posting such questions I received a auto reply saying that I followed his blog, and should receive further messages.

However, on checking the web site, i dont find my post and of course there is no answer to my post.

That gives me an alert that such sites which endorse SW such as OB are actually affiliates that promote the SW, and if there are negative comments, they overwhelm them by positive notes until the negatives are buried by the mass.

Now I begin to doubt their endorsed signal providers, brokers and even the purpose of their web site.

Any body having similar experience ?

 

[Diogenes]

OptionBot

Mat,
some of the issues that would need to be addressed before risking real money trading using OptionBot are:
get reliable evidence that money can be withdrawn easily, quickly and reliably from the BinaryOption platforms they recommend.

Bear in mind there are actually less than a dozen white-label BO platform providers, and with only a very few exceptions, all the BO companies are using one of those platforms. For example, TradoLogic is the provider for XPMarkets, which is definitely a BO company to be avoided. As TradoLogic recommend XPMarkets, it puts them and all the other BO subscribers into question. But OptionBot recommends companies supported by the TradoLogic platform.

You'll also note that most BO companies are not truly regulated, even if they claim to be. You need to check to see who actually owns the BO companies, where those companies are registered, and whether the address is a real bricks+mortar address, or simply a front (like most of the companies that purport to have a British address)

As you noted, OptionBot have never placed their system or accounts under the examination or test of a reliable third party.

There are a few other issues but the above is enough, in my view, to lock the door against OptionBot until the issues are addressed.

I received lots of email regarding Option Bot 2.0, and when I searched the internet for reviews, I found lots of web site that claim to have reviewed the SW, so i joined the forums and tried to learn more about their first hand experience and in depth reviews.

For 2 days i read through their discussions, and found that all comments and reviews are positive, including lots of You Tube video endorsements from the administrator.
The most active one:
binaryoptionschannel.com/binary-options-signals
Another :
ezsignals.com/option-bot-review

Yet I have read actual user comments from FPA which are totally different from the above sites and others.

I then politely asked the administrator who have lots of YouTub videos endorsing OB 2.0 :
- I dotn doubt his expertise in evaluating OB 2.0, but there are negative user feed back on FPA and over the internet
- lack of 3rd party trade records that shows results for a few months, not just a few days, or just fast-forward 20 min YouTube videos

After posting such questions I received a auto reply saying that I followed his blog, and should receive further messages.

However, on checking the web site, i dont find my post and of course there is no answer to my post.

That gives me an alert that such sites which endorse SW such as OB are actually affiliates that promote the SW, and if there are negative comments, they overwhelm them by positive notes until the negatives are buried by the mass.

Now I begin to doubt their endorsed signal providers, brokers and even the purpose of their web site.

Any body having similar experience ?

 

[Pharaoh]

Binary options are bucketshops by default. There is no such thing as a BO liquidity provider. This means that any truly successful trading system (robot, trade plan, account manager) would eventually bankrupt the broker.

So, ask yourself this: Why would a binary broker welcome a successful binary bot or even provide an "expert" to place profitable trades for you?

I believe the answer is simple: To get you to put in money that you'll never see again.

 

[MohammedI]

Thanks guys, very helpful thread! New to BO and Forex and was looking at the Option Bot program, glad to find these posts.

 

[Bokken]

Very useful information, thanks all. Glad I read this before I signed up. Shame I have been caught out with a few of the other ones I have found on here. The most recent is Mikes Auto Trader! I only went with it cause I had a degree of comfort with Option XE and the reviews!
I guess there is no substitute for community input in sorting out the wheat from the chaff.

 

[Felisula]

Great point, Sargent Major!

Binary options are bucketshops by default. There is no such thing as a BO liquidity provider. This means that any truly successful trading system (robot, trade plan, account manager) would eventually bankrupt the broker.

So, ask yourself this: Why would a binary broker welcome a successful binary bot or even provide an "expert" to place profitable trades for you?

I believe the answer is simple: To get you to put in money that you'll never see again.

My 16 year old son asked the same question when I told him I was researching Binary Options, "Why would any broker truly want for you to succeed? It's like expecting a Casino to provide you with a software app that successfully counts cards for you and welcome you to use it!"

I also have to mention that I needed to get 3/4 of the way down a Google search "Option Bot 2 review" to make it to this forum. Before that every site that claimed to be "truthful", "unbiased" or written by a supposed "Watchdog" ended with a big glaring button that read "JOIN NOW!" or "SIGN UP!" Links that of course lead you straight to the Option Bot 2" site! Now I wonder . . . do you suppose they might by any chance be receiving an income for hosting such a link?
I do wish there was a way to bring this forum to the top of the search page.

Thanks for everyone's input before me! I truly benefitted from your combined knowledge and experience to make an educated decision not to buy into all the hype.

 

[Pharaoh]

My 16 year old son asked the same question when I told him I was researching Binary Options, "Why would any broker truly want for you to succeed? It's like expecting a Casino to provide you with a software app that successfully counts cards for you and welcome you to use it!"

Real casinos will teach people how to gamble. No real casino (at least not an honest one) will give you an account manager or gambling robot to help you win.

I also have to mention that I needed to get 3/4 of the way down a Google search "Option Bot 2 review" to make it to this forum. Before that every site that claimed to be "truthful", "unbiased" or written by a supposed "Watchdog" ended with a big glaring button that read "JOIN NOW!" or "SIGN UP!" Links that of course lead you straight to the Option Bot 2" site! Now I wonder . . . do you suppose they might by any chance be receiving an income for hosting such a link?

If they've got a signup or join now link, they're probably getting a nice, fat affiliate commission for promoting the product.

 

[Master Jedi]

I just newbie in this forum .... is this FPA forum only to condemn all the Binary Option Software/Brokerage or anything related to Binary Option and Forex? is it all this Binary Option thing and Forex Brokerage all a scam? and nobody ever win any penny with joining? so all website like watchdog/Micheal freeman and all the video in tube a scammer people as well? if everything BIG SCAMMER ... better close all down and no need to join... pity to those people who join and loose everything....... If like this people win with a proof in Binary Option and Forex that been show also a big liar .... Like George Soros .... who collapse Financial Market before... if mean this people also scammer to earn right? thank for the informations from here .... is a great forum ... now i know all this Forex and Binary Option only a scammer and nobody ever earn any profit when joining this scam product ....