The Algo Trading Robot system, developed in 2011, claims to use a software based on a complex computer-generated trading algorithm; the software is supposed to be completely automatic, allowing traders to trade binary options with no effort at all since the system will do all the work for them.
What is the Algo Trading Robot?
We are told that this ‘amazing’ system was developed by one Stanley Nash, a professor of Applied Mathematics at Oxford University.
The homepage of Algo Trading Robot website features a sale pitch video by an unknown spokesman. It is evident that this guy is nothing more than a paid actor, hired on the basis of good looks and a pleasant voice to make the system appear legit.
A large screen takes up most of the page, where a video is streamed automatically on entering the site. This promotional video is almost 20minutes long starts off by bombarding views with fake testimonials from news programmes, tv presenters as well as ordinary people promoting the software. We are then greeted by the dashing host (whose name we never learn), who talks us through the inception and development of the Algo Trading Robot Software.
Proof that Algo Trading Robot is a Scam
The homepage of the Algo Trading Robot, already raises a few red flags at first glance; there is very limited information available and the 4 tabs at the bottom of the page, including a support option as well as terms and conditions, do not work, oddly enough. When trying to open any of these in a separate window, the site just redirects to the same homepage. We wonder how anyone is supposed to find out anything about the software with such a restricted approach.
The video raises several red flags just on account of its numerous inconsistencies. First off, at the beginning of the video, the handsome spokesman tells us that the system is absolutely free to use. Just a few more minutes in, however, he is already talking about deposits, the minimum of which is $250, in order to make use of the robot. Moreover, he craftily makes use of certain expressions as sneaky marketing tactics to draw in naive viewers; the software is apparently only available for a limited time so he urges us to ‘act fast’ if they want to be in with chance to make up to ‘$157 000 000’ using the ‘most sophisticated algorithm’.
We can also confirm that the alleged Professor and creator of Algo Trading Robot, Stanley Nash, is completely made up. We can confirm this after some digging on the Oxford University website that this person does not exist and is just another fictional pawn in these scammers’ game.
The testimonials both in the video and displayed on the site also didn’t do much to inspire us. Even an amateur would be able to tell that these are a cut and paste editing job, probably stolen from other websites. In fact, no names of any of the testifiers are given and their reviews seem to be incredibly hyped-up in favour of this system.
What is even more worrying, however, is the fact that the algorithm itself does not really exist. Sure the paid actor makes many a claim about this ‘amazing, ‘life-changing’ software but in reality, all we are really told is that the robot uses analysis to predict asset movement. Everything is left very vague in an attempt not to go into too much detail. Moreover, profits of $2600 are close to impossible to make in a single day trading binary options. If it sounds too good to be true, it probably is.
Finally, the website itself claims to be in business for the past 18 months but a quick check of the domain age on who.is, reveals that the actual registration date is 19th October 2016, a mere 3 months ago.
After some more research, we can confirm our initial suspicions; the Algo Trading system is nothing more than a fake system, designed for the sole purpose of preying on unsuspecting traders and tricking them into investing hard-earned money they will never see again. Don’t fall for this scam. If you’re a novice trader and looking for an auto-trading system for binary options, check out our review sections for reputable robots like BinaryOptionsRobot.