Recently, the binary options trading has seen many takers. This has led to many tertiary service providers to come to the foray with niche products and provide services to binary option traders. One such tertiary service provider industry which has dwelled over the past few years is the trading robot software industry, which aids the binary traders with automated trading platform. This industry makes software which assists the traders by taking their execution process in auto-mode and with minimum manual intervention the trader can execute his or her trades on the binary broking website.
Although, the automated software industry has been flourishing, it makes the life of the trader much difficult with several choices to select from. And it is even more difficult for the naïve of the binary traders to distinguish between the real and fake software service providers. In order to provide the helping hand to all our readers, we have investigated several automatic software service providers. The relatively new entrant in the software service provider, the Trusted Binary Bot, which caught our attention as it claims to be unique and different from the existing players. This has led us to further investigate the software and provide in-depth analysis of the same for your consumption. The following text describes important aspects of the automated software and how the Trusted Binary Bot scores on these aspects.
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The promotional video on the website suggests that the Trusted Binary Bot has been developed and owned by Alfred, Peter, and Sam. The website of the software does not provide any more information about the organization behind the bot. Also, the promotional video does not give any information except the first names of the developers. The lack of transparency about the organization and developer is the first red flag for us because we firmly believe that a genuine developers and organization doesn’t need to hide any information from would be customers.
Also, the terms and conditions on the website does not go well with the claims made in the promotional video. When you click on the contact button on the website it directs the visitors to google map showing all the states of the United States whereas it should indicate the real address of the organization’s contactable physical address. The hiding nature of the website has raise several questions in our minds and to get a resolute answer to them we further investigated the website.
As indicated earlier, the software provides automated trading software which can be attached to their affiliated binary brokers to trade. The software spots the trends in a variety of assets of the financial markets. The developers of the software believe in trend spotting and then initiating a trend based trade before everyone else enters in the market. Meaning, as you are the first to initiate the trade in the trends, you are likely to make most of the profit.
The several claims made by the authors in their video presentations are inconsistent in nature. Peter indicates that the manual operations by the big league boys of wall street will be taken away by the software, but in reality, the smart traders on the wall street uses High Frequency Trading platforms which are capable of placing orders at a lightning speed and automated. The Trusted Binary Bot only spots the trends which makes it prone to error as it does not consider the events which can fluctuate the prices of an asset and its volatility.
The website also claims that the customer can make $ 1625 in less than an hour of enrolling. This claim is not backed by any data or figures on the website. Also, the promotional video shows several things but the face of the owners, which creates several doubts like is he hiding his face to evade the law? The question remains unanswered throughout the video and our investigation.
The website indicates that the software is available at no cost, though it requires you to make a minimum deposit of $ 250 to initiate the real account trading. The website also provides demo account to get the feel of the software. This also being countered in their FAQ wherein the website indicates that the demo account uses simulated environment during market off hours. This is also negative as we cannot be sure whether the software provides real-time feed during the market hours or the simulated ones. The website of the Trusted Binary Bot is available in 20 other languages besides the English language. Though this is a positive for the company, the lack of customer support in regional languages and only e-mail support adds to negatives. The review of the Trusted Binary Bot has created several doubts and which has remained unanswered. Our doubts have been explained in the text below.
Who is the owner?
Although, the promotional video indicates that Peter is one of the developers of the software. The promotional video does not show the face of Peter nor it provides the full name of the developer. which induces a doubt. Also, the website neither provide information regarding the physical address of the company nor about the registration of the company. The complete lack of information regarding the developer, the organization, and the registration details seems scrupulous.
The speaker in the promotional video indicates that he is a computer engineer and have worked with big names like Google and Facebook. He also goes on to inform that he has been a successful wall street trader and even his father has been successful trader. However, our investigation regarding his claim has returned zero results. We know that many such players use the name of the wall street to substantiate their claims. The wall street stories are floated to gain the trust of the unsuspecting traders and lure them into their software.
One of the prominent feature of the suspicious software service providers is that their software can generate humongous profit in a short duration and that too consistently. The developers of the Trusted Binary Bot are also no exceptions, as they boast that the customer can start generating $ 1625 in a less than an hour of enrolling with their website. This claim seems overstated as you are aware that the trading in the financial instrument requires lot of discipline and such profits are unheard on the street. Also, the claim has not been backed by any data nor with any logical explanation.
The website also indicates that there are only two slots available for the new visitors at zero cost. This is a known marketing gimmick deployed by several online marketers to lure the visitors and convert them into buyers. Such techniques are used so that the unsuspecting visitors of the website doesn’t scout for further information regarding the bot on the World Wide Web.
Who are the broking partners?
As you are aware that any automated trading software cannot operate without a brokerage platform. The website of the Trusted Binary Bot does not provide any information regarding its broking partners. The lack of such an important aspect of the automated trading software adds to the negatives and strengthens our doubt about the Trusted Binary Bot.
How does it work?
Neither the authors of the Trusted Binary Bot nor the website of the bot provides any information on how the software operates. Also, the website remains silence on the indicators or principles used for spotting the trends of the assets. On the other hand, the website boasts of the outcomes which induces doubts.
The website of the Trusted Binary Bot prominently displays that one can start generating $ 1625 within an hour of enrollment on the site. The site also shows that there are only two spots left for the onlookers of the site. Though the promotional video on the website indicates that Peter is behind the software development, the face of Peter is remained hidden. The website also remains silent about the affiliated partner and does not provide any information regarding the owner and the developer of the software. The absolute no transparency regarding various critical aspect makes us recommend our readers to dodge the Trusted Binary Bot completely.
We reiterate that as a trader of the binary options you should stick with the well established players like Option Robot, who has gained its reputation over a period of time. The Option Robot remains very transparent with regards to various factors of the automated software like promoters behind the organization, their affiliations, their financial dealing processes, and their customer support. The Option Robot works in synch with various known binary brokers like 24 Option, etc . The website also offers customer support in more than 24 languages. It also provides details on various technical indicators which it uses to provide successful signals. These are some of the main reasons why we recommend the Option Robot.
Overall, we would recommend our readers to dodge the Trusted Binary Bot completely and stay with the Option Robot which has been consistent with its services and offerings.
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Michael Allen is the main author at www.binaryoptionrobotinfo.com. He holds a PhD in Economics and has worked in investment banking for 24 years.
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