Binbot is Scam or Legit? An Honest Review

BinBot is known as semi-automatic and automatic trading software developed by Utrader, a company that focuses on binary options trading. According to its developers, BinBot is a robot designed with the advanced technological developments in the industry of binary options. Aside from the algorithm of this advisor, which assures more than 60% of profitable trades, it can also change possible losses into profits mechanism achieved by boosting the next trade volume as compared to the amount of past trade loss. The system may sound legit but actually BinBot is scam. This thorough BinBot review is written to expose and reveal the lies hidden to trick people and invest on the software.

We also found out during our Binbot review this is like other scammed systems, they offer great services and results that they thought are enough to attract as many traders as they can but they were not able to provide. To make sure that you will not get fooled by these fraudsters, we recommend that you read this comprehensive BinBot review from start up to the end.

We have written this BinBot review to help you get protected against these scammers and keep your hard-earned money safe. Before we present to you some evidences we have gathered during our investigation and review let’s first assess how the app works and what their claims are.

So, what is BinBot all about? As what we have gathered during our review we found out that the system assures profitability that will exceed 60% since the app is composed of experienced and experts in this industry. The Utrader, the alleged developer of BinBot constantly attracts client trade statistics, automatically giving emphasis on profit leaders. According to them the basis for generating signals in BinBot are the trades done by clients. That is, several successful traders carried out by binary options trades that resulted to a continuous income, and the company has been focusing on making the skills and experience of experts available for beginners. All the transactions done by clients are listed every second and compiled in packets to be forwarded to the terminals of traders who are associated to this robot. The terminal receiving the data of signals carries out trades accordingly for its users. Therefore, BinBot is a system that mimics that other people’s trades. But, in this system the methodology of risk diversification is utilized, since signals are coming from traders trading differently using the app.

These signals are combined and re-distributed between the terminals. If the trading industry is trending, the signals from traders who carried out the transaction earn the money. If the market is flat, there is a chance for the users to take advantage on the signals of those who trade in the price channels while the market is not active. Therefore, this app insures risks of losing of some users by the gains or the others. What will take place when a transaction resulted to a loss? BinBot will increase the succeeding trade amount for the amount of trade loss, so the loss will be fully recovered, in case of robot profitability of over 60% it may take place very fast. The system may sound impressive particularly for novice traders, but wait you need to continue reading this in-depth BinBot review before you decide whether to trust this app or not.

BinBot is Scam – Three Evidences

As mentioned above, and based on our BinBot review, the application is available for both semi-automatic and automatic trading. If the user prefers to trade using automated mode the adviser gets complete “carte blanche” for trading independently, and at the same time the transaction is done based on the mentioned algorithm. The manual trading is not recommended since the user will intervene with the algorithm of the app. If the user prefers to trade in semi-automated mode, the signals are received by the trader’s terminal and then the trader decides if he will use them in transaction or not. Through this, the presence of trade assets quotes in the BinBot system offers the chance to carry out further analysis and decide if the signal received is accurate and significant or you can ignore it. If the transaction is correct, the trader affirms the trade done.

First Evidence – Trading is not Verifiable

One of the common problems with Binbot and the other scam binary option scheme is that you need to deposit money and then allow the robot to trade for you without letting you first to test and verify the system. Through this process many investors have lost their money and the scammers are the only ones who are getting all the money that they want. And we are sure of this, because based on the reviews that we have done on hundreds of trading systems we have seen them losing money in actual trading. Thus, we suggest that you stay away from this app as BinBot is scam and you should not deposit your money on this. If still you are not convinced with our review, you can check other reviews you can find on the web and see what they are saying about this application.

As stated above, the Binbot signals execution probability is not below 60%, according to this scam the outcome is not made up, it’s the result of testing their signals and evaluating how traders execute, whose trades are used as their basis for duplicating them to the terminals of other marketers. However, there is no proof to this claim. No testimony, graph, or study that can prove it can really provide what they are claiming for which is a clear sign of being a scam.

Second Evidence – Vague Website

Would you trust a vague website. If you check out BinBot website you will amazed on how they put up such kind of website, It is bare, you will get lost as to what to click and where to put the cursor to find answers to your questions. One of the common signs of a scam website is that it has confusing webpage and it lacks that necessary button. The about us tab and the FAQ tab should be placed on the area where it’s visible. In BinBot these tabs are place at the bottom of webpage at the black area where it is hard to notice. The scammers have done this intentionally so the interested traders will not bother to look for it and sign up right away. The BinBot website also has some spelling and grammar mistakes which is one of the signs that it is a scam. It only means that it was put together just to make a quick profit. Their contact page is empty as well. No physical address of their office, no contract number and no emai add as well. For this reason only, you should be convinced that BinBot is nothing but a scam. That is why this review is written to open the eyes of those who are blinded by what this system is offering.

Third Evidence – Unclear Algorithm

The website claims that the bot generates more signals per day. Actually, they were not able to provide proof to support this claim, thus it is hard to believe that they can really make more signals than others. This means that it should make a trade with your money at least this amount of time. According to BinBot it never gives you a false signal, which is the perfect indicator that this is nothing more than a scam. There is no system that does not lose sometimes. It is impossible to produce high number of signals per day. There are not that many signals available in any particular day. Before you can even discover that the system is a scam, they will ask you first to make a deposit. Once you make a deposit it is impossible for you to withdraw your money. You will not be able to track the money you are giving to and where it will go. This is not a free system thus it could cost you more than just placing trades through a legit broker. There is no way to determine who is handling your money and what they are doing with it with the BinBot program. It is best not just simply give your money out that easily.

BinBot Review Conclusion

BinBot is scam and we were able to prove it to you through this point by point BinBot review. All the signs of being a scam are evident in this system and people should stay away from this no matter what or you will be sorry and lose all your hard-earned money. The algorithm used is not clear and was not clearly explained. You will not be able to verify their system since you need to pay first before you can start trading.

Lastly, the website is empty and does not have the necessary tab placed on the right position. So, as a trader makes sure that you have read this complete BinBot review from start to finish before you decide.

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