8 Binary Robot is more or less of a generic system for trading options. The owner prefers to take advantage of the anonymity that the worldwide web gives them.
This system appears to be piggybacking on the success of Option Robot by using their brand name while at the same time calling itself 8 Binary Robot.
First and foremost, 8 Binary Robot system does not have a specific name for which it can be identified with. This is a big problem to start with because most investors would not dream of buying a system that uses a generic name or copies the name of another popular robot.
As usual, this system is free to use. The website template is simplistic in design which could suggest that the owner did not have sufficient funds.
Secondly, the website where the 8 Binary Robot system is hosted is non-informative. The content is not new or unique in any way.
👉 Want to make money automatically with Bitcoin and Cryptocurrencies without the risk of trading yourself? Are you ready for self-custody of your investment funds? Do you like the sound of regular consistent results and profitable performance? Tired of the forex and crypto scams, false promises and games out there designed to separate you from your hard earned funds? Stop everything! ETBOT is for you! With the ETBOT software, only YOU are in control of your investment funds. The software works using API Key connections that only YOU set up and control. The ETBOT service and mother company EndoTech has been making investors hundreds of percent a year in proven gains since 2012! They use the volatility of the Crypto market to trade long and short using breakout techniques and strategies powered by real Artificial Intelligence. This year so far ETBOT has made over 75% for clients since January 1st, 2020. If you are ready to leave the trading to the professionals and upgrade your monthly income, now is the time, head to ETBOT now and buy your subscription to get started. PS: ETBOT is a Profitable Forex/Crypto Trading Bot. 100% Verified and Recommended by Valforex.com.
When asked to clarify how this robot works, the owner gives a vague answer by stating that traders have to choose the appropriate settings that would return the highest profit when the robot is used in automatic mode.
Not satisfied with this explanation, we decided to launch a full scale operation on this website. We found several disturbing things about 8BinaryRobot.com/en. So, what are the facts? Please see below:
8 Binary Robot uses the very same popular generic algorithm for managing risk. These include Classic, Martingale and Fibonacci systems.
Does this tell us how the robot works to make money in trading? Not at all. But of course it says that 8 Binary Robot does not have the required cutting-edge technology for trading and making profits on a consistent basis.
It tells us that this is a customized piece of generic software whose owner is shrewd and deceptive in nature. The fact that they labeled it ‘8 Binary Robot’ does not mean that it is genuine.
There is no evidence that this software was hand-coded by professional day traders who actively trade the markets. Instead, all evidence point to the fact that this faceless owner bought a commercial robot for the price of a loaf of bread, then customized it with his logo to pass it off as a ”revolutionary” trading solution.
A fool would therefore fall for it head over heels, thinking that they found a gold mine. Of course this isn’t the case.
There is a short video clip somewhere on this website which showcases the alleged performance of this robot. But it also appears that whoever was responsible for uploading this video didn’t mind the fact that traders would easily recognize this video from the Option Robot YouTube page.
We said earlier that the owner of the 8 Binary Robot system is a lazy internet marketer. Now this is 100% evidence that they recycled the video at Option Robot website, and now they are passing it as their own.
If this is not the case, then we feel that 8 Binary Robot is only trying to create a false impression to mislead traders. Some traders may think that they are signing up for the Option Robot system when the truth is that they are signing up for 8 Binary Robot scam.
The alleged winning trades cannot be verified too. Those screenshots have been edited to suit the message which they are preaching on the scam website.
You do not need to struggle to figure out that this video is lacking sufficient evidence in proving the efficacy of this trading robot.
Technically speaking, this is not rubber-stamp approval that 8 Binary Robot system works as claimed on the website.
The alleged 83% win rate by 8 Binary Robot cannot be backed by any substantial data as this robot has never traded binary options successfully. But of course there is always the issue of demo trading where these accounts can be rigged to reflect inaccurate win rates. We discuss this in our next point below.
Do not be fooled. This demo account which 8 Binary Robot is providing is rigged and conditioned to win more trades than it can lose.
You can bet that this is quite different from the reality of the matter once you switch to a funded account.
The picture you get with a demo account for this software is totally different from that which you will get with its real account performance.
It sounds so easy and fun to work with 6 trading indicators which can only prompt this software to trigger a trade when they all agree.
However, at the end of the day, you need to remember that these are indicators, and indicators have serious flaws if the software is not programmed intelligently.
Furthermore, we have seen these indicators being used in hundreds of other scam robots on the internet. In the end, it did not change the fact that these robots were losing money rather than making it.
It’s funny how this website is protected from public scrutiny. The owner did it intentionally because he knows that 8 Binary Robot system does not yield any returns.
This is a common practice followed by scammers all over the internet.
In addition to this, the website does not have an ‘about us’ page where details of the owner can be found. As a user or a potential customer, you are supposed to operate on the assumption that this robot is owned and maintained by a professional binary options trader who has a track record of trading success.
It does not work like that folks. This is your money, and no matter how small or big you think your investment is, this robot should not be included in your portfolio of trading tools.
Industry blogs have not caught up with this scam yet. It means that 8 Binary Robot slipped out of the radar and now it is intending to take full advantage of this cover.
Thankfully, our team was able to sniff it out from its hideout.
Also, we do not understand why the owner of this robot has not bribed a few individuals to promote it. Yes, such a scam should be having many reviews floating around the internet because the owner is paying to make people write misleading reviews about it. Thankfully, we shall not give credit where it is not due.
We will not pretend that 8 Binary Robot is currently being used by traders when the truth of the matter is that not even a single trader has come out to give his or her experience with this robot.
Based on the things mentioned above, we believe that this is a scam that was intended to trick traders into depositing money with rogue off-shore brokers. Once this happens, the developer will always pocket his commissions while your account burns under your watch.
At the end of the day, you will lose everything. But this does not have to be your path. We have real products for trading binary options here. Just pick any.
Help Us Fight Scams. Please Donate to Support Our Work. No Amount is too Little or too Big. Thank You..
February 8, 2019 By Ghazanfar
The phrase ‘Necessity is the mother of invention’ seems true for Iran. This is because Iran has unveiled its own...
February 8, 2019 By Ghazanfar
In spite of long bear market, Bitcoin transactions per day are increasing. Today the level of these transactions has touched...
February 4, 2019 By Ghazanfar
Although bear market in crypto world is extending, yet many fiat currencies are facing the threat of destabilization. This is...
February 4, 2019 By Ghazanfar
In spite of mix signals from the cryptocurrency world about the future of cryptocurrencies, many countries are planning to test...
February 3, 2019 By Ghazanfar
The idea of Bitcoin adoption as an international currency is not at all new. Over the years, many financial experts...
February 2, 2019 By Ghazanfar
Bitcoin’s entry into the longest ever bear market in history is one of the most burning issues of today. The...
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity… Read More