Do You Want To Earn $ 1,800 While You Sleep?

No, do not worry. I have not turned around and become one of those gurus who promise that you will make hundreds of dollars while you are sleeping …

I have read the like of above question quite often in the offers of binary options robots. They promise to achieve success rates of 75% - 90%. A lot of those trading bots are free to use. All you have to do is open an account with one of their preferred brokers, fund that account, activate the trading robot, and wait for your bank account to burst with money.

That's the theory: Don’t get me wrong. I am sure that if you took the time to learn something about binary trading and trading signals, and if you were to put in some effort, you can surely make money with binary trading.

My experience with those free trading bots tells me, though, that you cannot make money with them, even if their sample accounts displayed on the squeeze pages seem to make thousands and thousands of dollars.

For one thing, the sample accounts trade incessantly. And they use very short term options (e.g. 5 minutes). In this way, they get an incredible amount of trades per day. In fact, in those sample accounts, you hardly ever see a lost transaction.

Unfortunately this was not the same for me. Once I had set up the account with the broker, I had to fund it with $ 250. During the sales process I was promised several times, that my money would always be MY money. But after funding the account, I found out, that the minimum limit for a withdrawal was between $ 100 and $ 250 depending on whether you wanted to withdraw money by credit card or wire transfer. The fee for a withdrawal was between $ 25 and $ 50, and a levy of 10% of the account balance was to be charged for any withdrawal requested before the account reached a turnover of 200.

So you can see: The moment that I had funded that account, only part of the money was still mine.

But this was not the worst thing about my experience with the trading bot. While the sample account showed at least 4 to 5 trades per hour, as all the trades were rather short term, the bot only realized 4 to 5 trades per day with my account. And it never reached the promised success rate of over 90%. Actually my success rate was well below 50%, which meant that I was losing money every single day. 

So before the first week was over, my initial deposit had not turned into thousands of dollars as promised, but had just evaporated.

Therefore, if you want to try to earn money online with binary options, do not rely on any of those free trading bots, but learn everything you can about market signals and trade yourself.

I am quite sure that the only person who will make money with a free trading bot is the person offering the robot. I am sure that the affiliate commissions from the brokers for a new account that is opened are quite generous.

So I really cannot recommend to use one of those free binary trading bots!