OptionBot Review

Have you ever heard of option-bot? Well if not what it basically is, is a binary option robot which gives you signals. Well how does this robot work? It doesn't necessarily automatically jump in the trades for you but rather it gives you signals. The signals are based off of the number of pips that have moved either up or down within a certain time frame. The default settings are M15 : 3; meaning that within a time frame of 15 minutes if there is a 3 pip movement up or down the robot/program will give you a signal informing you of the direction the currency pair moved and which pair.

For example if the EUR/USD had an upward movement of 3 pips within the past 15 minutes option-bot will notify you and that's when you would jump into the trade placing it in the opposite direction. Now based on my honest opinion this method of trading has a very low chance of success.

I have tested with a movement of 3 - 5 pips. All of the trades placed didn't really give me much profit, rather I was losing money slowly. By taking these signals you are pretty much taking a 50/50 chance that the currency will drop after such a high movement, however this does not always work. Although the bot does give a 7 day free trial, the only way you may be able to win is if you place trades during certain times where there is alot of volatility in the market. Usually during times when both major markets are open.

Overall, I would say that this bot really isn't worth it since there is definitely a risk of losing more trades than winning. Unless you have a strategy around using the simple method of "what goes up must come down" then this may be for you. But I do not advise taking all the trades the signal tells you to take. Very risky...