Algobit is Scam & OptionBit is Fraud! Review

Every day new binary options trading app are being introduced. At the same time more and more opportunities are being offered to traders that can help increased their earnings. An example of this is the trading robot known as Algobit.  According to the developers of such software, Algobit is of countless use to traders because they can aid you in deciding on positions accurately, which makes the entire activity a lot easier.  They also profess that is one of the best signal providers in the market, with a wide range of special features.

In spite of this, there are still numerous complaints and rumors about the software on the internet speculating that Algobit is scam. And because of this we have strong-willed to write this Algobit review, to present evidences and proofs that this app is just like other scam platform. The primary objective of such program is to entice, allure and attract novice traders to invest on the system. Once these traders have made the deposit, it will be easier for the scammers behind this app to steal their money.

To start with our Algobit review, the binary options signals these days are one with a mixed reputation. This is a fact there are lots of fake signal on the market, so you need to be very cautious when deciding. Generally, there are two types of scams the one you can come across when carrying a research. The first type is automated software that lacks sending out signals and the other one includes service that manipulates human signals. These two variations should be avoided, if you want to secure your investment.

The auto trading software is fundamental software that normally performs any transactions without the help of the user. And it represents a fraud, because this sort of app will not check the market at all and will not utilize any financial data in order to create the trades, but will instead come up with successful trading. The other type of transaction signals scam is more complex. Basically, it will recommend that you mimic the trades of a well-known and expert trader; this will mean will success for sure. Actually, the objective is to make you feel at ease and earn your trust, which will also result a losing streak in the end. So if you really want to trade manually make sure you follow only independent investors.

The Algobit is being promoted as one with high level of accuracy, these lucrative earnings are outcome of the whole trading assembly, during which extends of inaccuracy are probable. Except that for an ordinary trader, the amount of trades provided by Algobit is enormous, and if an investor gets carried away and begins confirming every signal and every transaction created by the application, this bad stretch could spell trouble.

Algobit is Scam – Three Evidences

Algobit is a binary options platform created by Optionbit and serve as their second platform. At first glance the Algobit system looks reliable and legit. Algobit is especially made for novice traders. Algobit offers real-time trading signals which can help starters to trade with profit without the need of higher education in trading strategies or systems. Our Algobit review also found out that Optionbit is being considered by many traders as reliable and legit, but we have doubts about it.

During our investigation and Algobit review, according to them both old and new users can utilize this platform. This scam employs a patented mathematical algorithm especially designed for binary options. It thus considers the dynamic nature of digital transaction and the short expiry terms.

Official Website |

The financial information monitored by Algobit as well as the statistical equations it utilizes were all adapted to the needs of real time online users. Algobit can improve your profit significantly and enable you to keep it in a consistent level of accuracy. And because it’s fully automated, the platform is very easy to use and it only needs the confirmation of the deals it identifies and is ready to function. It will provide you continuous signals, which offers you the chance to profit all day long. This scam looks very convincing and makes people believe that it’s legit software. But before you press that sign up button, continue reading our Algobit review and it might change your mind and open to reality.

First Evidence – Fake Awards

The 2012 Financial Innovation Awards is the leading awards ceremony in the financial and banking services industry. This award recognizes and rewards company or institution that demonstrates Vision, Leadership and Innovation. The recognition is presented by the London Institute of Banking and Finance together with the BBA. If you visit the the first thing one will notice is the supposed awards given to them recognizing their effort in binary options. Unfortunately, the award is fake and it was placed there for the purpose of attracting people to trade using their scam system. How come they receive this award in 2012 when their website was registered only on July 15, 2013 and was updated last May 15, 2016? They have fooled lots of people with their impressive marketing strategies but they have forgotten to deal on small issues they might not have thought people will notice.

Second Evidence – Try it for Free – A Lie

“Try it free – Now”  what does this phrase actually means? A tradercan simply try it without making any deposit ? Or they only place it there to confuse people. When you say FREE it means you don’t have to pay anything. So it means we can deal even without depositing any amount on it. But this is not the case with Algobit. When you go to their website and click on the “Try it free – Now” you will be asked to deposit the minimum amount which is $250. Once you made the deposit you can start dealing. The $250 you will use it in investing, and one will find out you were fooled by this scam when you already consumed  all  the amount you have deposited because a trader will lose all the deals. As a result, you lost your $250 in an app that is supposed to be free. This is a clear indication that you have been victimized by a fraud software. And definitely Algobit is one of them.

Third Evidence – Fake Testimonials

The two images above are some users who have given their testimonies after using the scam system. According to Donna Matthews the Algobit app has changed her investing experience a lot. It has helped her during the transaction. When she started using Algobit herprofit have increased significantly and now getting 3000 Euro a month when before it was only around $1000, she was really impressed with this improvement.  These statement were all stated in the testimonials of Donna Matthews. Now let’s check the identity of Donna Matthews.  The image of Donna Matthews was downloaded from The photo you see in  is a stock photo and the identity of the person is not at all real. Even the other testimonial the identity is also fictitious and fabricated.  In our review we become aware that apparently, the testimonies are done by the scammers behind this app to make it looks like as if it is legitimate.

Algobit Review Conclusion

Because of this review, we strongly suggest that you should never use Algobit. Based on our review, Algobit is scam. The evidences above prove that the system is definitely a fraud and you should not trust it. The awards they claim are not real, as a proof we have presented the date the was registered. We have checked it in and we have found it that it was only in 2013 that the scheme was registered.

Likewise the claim that it’s for free is also not real as it requires a minimum deposit of $250 which one will eventually lose so don’t expect to get any in return. And the testimonies are fake. They uses stock photo in creating fake characters.

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This comprehensive Algobit review only proves that this platform is nothing but a scam. If you find this review helpful to you, feel free to share this with others.

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