OptionBot 3.0 TrendXpert and Fibi FX have just released its third trend indicator and signal software for binary options called OptionBot 3.0. There are high expectations for this third trading platform. But can Option Bot 3.0 really perform and deliver the expected results? This impartial hard-talk review will break down the myths and investigate this brand new software, fresh on the binary options market.
Option Bot 3.0 Review and Scam Investigation
Option Bot 3.0 as the name implies is the latest edition of the Option Bot 1.0 and the later revised version Option Bot 2 aka XE Trader.
Option Bot 1 was highly successful. As a trend indicator and signal software which was run and operated by a number of trading experts. They gave several studied signals every day.
This software was considered revolutionary when it was first introduced in 2012. Option Bot 1 was essentially a trend indicator specifically designed for binary options. However it was limited to Windows Users only.
Back then this was a downside for this software.
Moreover, it required a trader to subscribe to five different brokers. This made it not just expensive, but also cumbersome.
The second version was originally branded as Option Bot 2.0 and then XE-Trader but later the name was official changed to Trend Xpert. This software was a holistic foresight of education. This combined with a signal service. Trend Xpert was a great success, but sadly the service was suspended due to internal problems in the Company.
OptionXE, the Company that run both Option Bot 1 and TrendXpert became a large privately owned trading centre. Later this was sold and since then there has been much arbitration. The owners of the software had to make a decision between setting up a new training centre, or create a software which would be easy to use by every trader.
OptionBot 3.0 – A Much Anticipated Bot?
Website Under Investigation for Scam www.optionbot.net
Who are the developers of the new Option Bot 3.0?
Given the dramas surrounding OptionXE and the dissolution of the company, we were very interested in finding out who is behind the new OptionBot 3.0.
It was not a surprise to find the charismatic Keith Wareing behind this software. Once very popular with his YouTube channel Option Xpert and wicked humour, Keith Wareing, was the former CEO of TrendXpert. He is now the chief consultant for this software. After a few months of development, he signalled his ok for this new software.
Therefore, for a change, we do know who the real developers for this software system are!
This does not automatically make Option Bot 3.0 legitimate!
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What is Optionbot 3.0? Is it worth your time?
OptionBot 3.0 is a software that has refined over the previous versions. Both earlier versions enjoyed great support, but in the end they were no longer available to the public in general or to day traders.
The software, has been developed by real people who are passionate and have knowledge about trading. The new software is meant to have an upgraded software system, which is applied to a charting station.
However before we come to any sort of conclusion about the legitimacy of Option Bot 3.0 we shall have a look at how the system works.
First of all, and this is to dispel any myths, OptionBot 3.0 is NOT a fully automated robot. It will not execute trades automatically on your behalf. It is a semi-automatic trader which will provide you with a number of signals of available trades, which in turn the trader will have to take manually.
Other features in the OptionBot 3 interface are the Economic Calendar. We have always re-iterated how valid the Economic Calendar. When taking decisions about trading the Economic Calendar is essential. This is either an anticipated move to make the software look more legit, or else it is really a valid asset.
The Option Bot 3 is supposed to work on the “Support and Resistance” levels and indicate trends based on this fundamental analysis.
The software is a binary options trend indicator which will allow traders to monitor activity of 15 currency pairs. It is equipped with alerts which will also allow traders to easily identify trades.
OptionBot 3.0 Risk Free Trades – Free Demo Account
The landing page for OptionBot 3.0 advertises a $1000 free demo account to new subscribers. We have gone ahead and made our registration and were immediately awarded a €25k free demo account. Is this impressive or is it a hoax?
For the sake of the argument, we are pleased to have a free demo account, which we will later fund into real cash and compare operations. It is not unknown for demo accounts to be rigged.
Value of Trade Investments – The Upside to OptionBot 3.0
As can be seen from the image above the minimum value for a trade is just at $5 or €5 depending on the designation of your account. This may make the software quite interesting for many new users who wish to limit their risk in trading.
OptionBot 3.0 – 60 second Trades – The Downside
OptionBot 3.0 boasts of real time trading. It executes turbo trades with 60 second expiry. They claim that the software removes the time-lag which is usually a couple of seconds for fast trading, that is standard to many brokers.
Our point here is very simple. If the software is working on the support and resistance levels between a currency pair, what kind of real analysis can be done in 60 seconds? 60 second trading should only be corrective trading. From a seasoned trading point of view 60 second trading is more similar to gambling than it is to trading.
Conclusion and Verdict by the Binary Option Sheriff
Although we are quite impressed with the interface of Option Bot 3.0 and knowing who the developers of the software are helps. However, at this point, we will have to try the system in real terms and not on a demo account, in order to be able to safely recommend or blacklist this software. Sadly the name is a little bit misleading, in the sense that this is not a trading robot but a signal software.
The biggest stumbling block that we see in this review is the turbo-trading. We seriously consider 60 second trading to be gambling. Turbo trading should be a last fix resort. It should not be a basis on which to build an entire system.
Verdict – Our Review will give an Inconclusive First Analysis Result on OptionBot 3.0
Thank you for taking time to read this analytic review. We will certainly be providing you with updates on this system, once we have actively traded with it with both demo and with real cash.
In the meantime we would like to recommend our best trading system, which has been providing us with a steady income over the past two months. The CodeFibo Review will set you on the path to a better financial.
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