Option Bot 2.0 Review

When you go to the Optionbot 2.0 salespage a slightly hyped up video goes into autoplay mode and starts by telling you that you can turn $1000 into $20,000 in a week.



 Maybe you can but that would imply taking a very high risk approach staking a lot more than 5% of your account per trade which would violate the principles of proper money management. Admittedly, the sales pitch of the video is a little over-hyped and this may lead you to believe that this is just another binary options scam. Well the truth is Optionbot 2.0 is not a scam but if you blindly take every signal it provides it will blow your account very quickly.

Losing all of your investment in this manner would also lead you to believe that Optionbot 2.0 is a scam. In order to win with Optionbot 2.0 you have to trade only at certain times of the day and also keep an eye on major economic news releases. If you take this approach, Optionbot 2.0 will be very profitable for you with an approximately 70-80% success rate. More about this later in this Option Bot 2.0 Review.
 

What Is Option Bot 2.0

Option Bot 2.0 is touted as “the world’s most accurate binary options indicator” and it very well could be, providing it is used correctly. It provides trading signals for currency pairs only and not for other asset types such as stocks and commodities. It is completely web based, so there is nothing to download or install. It works perfectly on just about any device: computer, tablet or smartphone. The original Optionbot was launched in 2008 and the software is now in it’s third incarnation, even though it is still being marketed as OptionBot 2.0. It is one of the most popular, if not the most popular binary options software tool.

How To Use Option Bot 2.0

Option Bot is a web based trend analysis application that is constantly analysing 15 currency pairs. It provides visual accompanied by audio alerts in the browser application periodically. When you receive an alert you decide whether or not you will take the trade, which you do manually. Option Bot 2.0 does not autotrade.

This software produces best results when used at certain times of the the day. Option Bot 2.0 is best used during the overlap of the major markets New York/London and Sydney/Tokyo. During the first hour of market opening is also a particularly good time to use Option Bot 2.0. You should also only use Optionbot 2.0 when the markets are trending and never in ranging markets. The best currency pairs to use are EUR/USD, GBP/USD and EUR/GBP.

Below are the opening hours of the major markets using EST:

• London-3am to noon
• New York-8am to 5pm
• Sydney-5pm to 2am
• Tokyo-7pm to 4am

You may use the Time Zone Converter on this site, to find your local time equivalents.

You should also avoid trading 15 minutes before or after any major financial news release. You can find anEconomic Calendar also on this site and can bookmark it for future reference.

The default settings for Option Bot 2.0 are 20 pips and 15 minutes. It is recommended that you leave it at this setting to start with. After you have attended the training webinars provided by Optionbot, you will be better equipped to tweak these settings.

The Optionbot team will provide assistance to you in making your first trades. Also,if your first ten trades are not profitable then they will refund you the cost. Some conditions do apply to this offer though but it has nothing to do with “risk free” trades provided by brokers which create withdrawal restrictions if you lose. It is important to point out that Optionbot is not a broker and they genuinely want you to win. It is good for the reputation of their software when their customers are successful.

Option Bot 2.0 Free Trial

OptionBot offers a 7 day free trial to allow you to check out the features of the software before you decide to make a purchase. If you eventually decide to acquire the software, there is a one-time license fee of $97 with a 60 day money back guarantee. All future updates and upgrades to the software will be free once you have a license.

For the software to produce the most accurate results, OptionBot recommends that you sign up to at least one broker through their platform. This allows them to synchronise the broker account with the OptionBotsoftware. Trading with unsynchronised brokers is not recommended and does not produce the best results. They ideally recommend that you sign up to 3 to five different brokers in order to spread risk.

The idea behind this is that the trades will be staggered with slightly different expiry times and as a result spreading the risk. We don’t believe that this strategy is essential and it is obviously not practical if you are starting with only a small investment.

If your investment is sizeable, such as $5,000 or more, we do see that there could be a benefit of spreading risk from a different perspective. In this industry something can always go wrong with a particular broker and if your investment is large you are better off not to have all your eggs in one basket.

If your chosen broker were suddenly to go out of business or have some other problem that prevented you from accessing your funds you would regret not spreading your risk in this way. However, from the purely trading perspective, we don’t believe it is necessary to trade with 5 different brokers if you can’t afford it. There are many traders who are doing fine with just one broker account.
 

Optionbot Training & Support

In 2013 Option Bot was bought from the developer Gary Davis, by binary options training company Option XE. When you purchase Option Bot 2.0, Option XE provides free webinars and one-on-one training. They also offer highly recommended premium training packages at additional cost.

Conclusion

Option Bot 2.0 is cutting edge software and is continually being improved. Traders who take the time to learn how to use it are getting very good and consistent results. There is a free 7 day trial that will allow you to evaluate the product before purchasing and a 60 day money back , so there is no good reason why you shouldn’t take OptionBot 2.0 for a test run.