Simple Auto Trading is a new binary options auto trading site. How new? The domain SimpleAutoTrading.com was created in April, 2017. Four months ago. Unfortunately, we only discovered it now when one of our subscribers brought it to our attention. Please keep alerting us about new scams so we can issue timely warnings and help protect online day traders and the general public as well from falling into investing scams.

simpleautotrading.com

SimpleAutoTrading is apparently already quite popular, especially in Yemen, South Africa, Bangladesh, India, UK and Vietnam. At the time of writing, it seems most traffic arrives at SimpleAutoTrading.com via affiliate links promoted on YouTube.

If you found SimpleAutoTrading while watching a YouTube video or reading a blog post claiming you can make money with this software, then it’s important that you read this warning and understand it carefully.

Brokers

SimpleAutoTrading is a binary options trading software. Binary options are traded through OTC online brokers, most of which are non-regulated and fraudulent. You can read about the specific brokers currently available with Simple Auto Trading: BinaryTilt, BDSwiss, BinaryOnline, PlusOption, Stern and Opteck.

The whole purpose of this site is to generate sign ups with the affiliated brokers. It’s an affiliate site. You cannot actually make money with this robot because this means that the brokers will lose money. In binary options, when traders win, the broker pays. So imagine everyone just trading using SimpleAutoTrading and winning millions? Who’s going to pay for that? It’s not going to happen.

Who is Behind SimpleAutoTrading?

Besides, if SimpleAutoTrading was a legitimate service, why would they not include information about the company providing the service? In Conact Us page, the only information is the email address – contact@simpleautotrading.com. There’s also a contact form, but no telephone number, address or even the name of the company. We couldn’t even find a Terms of Service page. Moreover, a privacy service is used in order to hide the identity of the owners of the site as can be seen in the below image.

WHOIS Simple Auto Trading

How Does Simple Auto Trading Works?

You open an account with one of the brokers synchronized with the software and fund it, usually with a minimum of $250. (But $500-$1,000 is the recommended deposit amount…) According to SimpleAutoTrading.com, “Our software has 83% winning rate!” This is a false statement. No software can consistently generate such a high success rate when used by non experienced traders. To understand why we say that it’s a false statement, you need to understand how the software works.

Simple Auto Trading is supposed to be an automated trading tool that generates trading signals and executes trades automatically to the user’s broker account. They claim that trading binary options has never been easier with this “free of charge and very simple to use” trading platform. However, this platform is not at all simple to use. It has several settings.

Available Expiry Times: 60 seconds, 5 minutes, 10 minutes, 15 minutes and 60 minutes.

Assets: EUR/USD, EUR/JPY, GBP/USD, USD/JPY, AUD/USD, USD/CHF, EUR/GBP and USD/CAD.

Money Management

First, you need to choose which money management strategy to follow. The software allows you to choose the Classic System, allegedly the safest system and best for beginners. Those who want faster profits are instructed to choose the Martingale System, a highly risky mode of trading. Finally, the Fibonacci System is supposed to be “very accurate.”

Technical Analysis Indicators

Once you choose a money management strategy, you have to select according to which trading indicators the software will generate signals. The options here include the Trend Indicator, RSI, Williams, MACD, CCI and Stochastics. These are technical analysis tools used by experienced traders in order to analyze data. The indicators by themselves are not helpful though. They can only help you generate winning trades if used in the context of a complete binary options trading strategy.

But even when used with a strategy, or trading pattern, as we like to refer to strategies, fundamental factors must be taken into consideration. For example, let’s say you’re using Trend Breakout Trading Pattern, which uses Stochastics to generate signals for low volatility currency pairs such as the EUR/USD. You would need to be aware of the fundamental factors that influence this currency pairs. If there’s a news release that can cause higher volatility than usual, then the strategy will most likely fail.

So not only do you need to be familiar with money management methods and with technical indicators and how they work, you also need to be well-versed in strategy and fundamental analysis if you want a chance to use auto traders profitably.

OptionRobot White Label?

Analyzing how this software works leads us to believe that the Simple Auto Trading system is an OptionRobot white label. It’s seems like exactly the same software. Both of them work with the same technical indicators and money management options. Both of them guarantee a 83% winning rate. Both of them offer a free demo that is rigged to win. Both work with the same brokers.

Simple Auto Trading Review Conclusion

SimpleAutoTrading.com may not be a scam because it’s simply a referral page leading to signing up with brokers. However, it is definitely misleading by claiming that the software is suitable even for beginners and that it generates an 83% win rate.

If you’re a beginner, don’t even think about signing up with auto traders!

If you’re an experienced trader who is dying to try one of the OptionRobot based trading systems and can afford to lose your $250 deposit, then by all means, sign up and let us know how long it took you to lose your deposit, or surprise us and tell us how you were able to use the software profitably!

Review Verdict: SimpleAutoTrading is Misleading!

Blacklisted Website: simpleautotrading.com

Related Scams: iRobot, Xpress Money Bot & Free Robot Signals

To equip yourself with trustworthy and effective trading solutions, visit our signals discussion forum.


Was this article helpful?



Make Money


Source link