Here at 301BinaryOptions2.com we get a lot of requests asking us to review a new trading software, trading robot, signals provider or trade replicator. One name that kept popping up in the requests was BinaryOptionClub.com. So, about a month ago we investigated BinaryOptionClub.com and today we are delighted to present our findings.
What is it?
Binary Options Club is run by a team of traders who having traded binary options for others themselves in exchange for 30% commission on the profits, finally developed a software that allows others to replicate the trades by the six founding members
Is it a Bot?
Although there is an optional autopilot mode, what Binary Option Club are offering is in fact a trade replicator and not a robot. Trade replicators enable you to replicate the trades of any of its six founding members directly onto your own trading platform.
How Does it Work?
You simply open an account and choose which traders to replicate. It is that simple. You can choose to replicate the traders on either a manual or an automatic basis depending on their online trading schedule and which trader you wish to copy.
How Much Does it Cost?
The service is totally free. The 30% commission on the profits was scrapped some time ago and there are no set up costs, management fees or commissions on the profits. The only cost you will endure is in the depositing with the broker at the start. This is just a few hundred dollars and is your money to withdraw at any time.
Trade Replicator vs Auto-Trader
The largest difference between a trade replicator and an autotrader is the human touch. A trade replicator is all about following and copying the trades of an actual human being. An auto-trader makes the trades for you based on a algorithm using technical analysis only. Fundamental analysis is used by the very best traders in conjunction with technical analysis, so the big advantage of a trade replicator is that you have someone at the other end using both fundamental and technical analysis to make the trades that you are replicating.
Binary Option Club Ideal for New Traders
If you are someone that is new to trading, the study of technical and fundamental analysis can be quite daunting. Knowing your MACD from your Bollinger’s does not happen overnight. This is why trade replication is perfect for rookie traders. You get all the benefits of informed trades without having to do any of the research or study yourself. Another feather in the cap for the Binary Option Club is that offer a fairly comprehensive binary options education guide for free. There are a number of well written informative articles available free to everyone. The idea is that the Binary Option Club want to educate you so that you can understand the trades you are replicating and one day go on and make successful trades yourself.
Before we start discussing whether or not Binary Option Club actually works or not, it is worth discussing the customer service experience at Binary Option Club. As with any product being sold, you can get a good grasp of how much the company selling the product really cares about you by their customer service. We rattled off a few emails with some questions that might test the patience of some people but the responses were fast, understanding and very professional. At all times we felt secure in their hands.
Did We Make Money?
The all-important question and the all-important answer is.. YES, WE MADE MONEY. nearly $2000 profit from an initial $500 investment made just over 4 weeks ago. We opened accounts with all six of the traders and kept the trading on auto-pilot from day one. At first we were a little concerned as the first two days we barely broke even, in fact just $16 profit in the first two days. However, day 3 saw a $300 profit and after that a steady profit of around $130 everyday. That’s $130 pure profit 5 days a week every week for doing nothing. Something that is hard to complain about!.
We found that of the six different traders there are to follow, some are better than others and some should be followed only on manual basis because of the high risk strategies they employ. In our experience, the best traders to replicate on autopilot were:
Benny Carlyle, Jason Benneke, Michael Jessop and Alexa Montreau
The remaining two traders: Chase Drexler and Sarah McCullough employed quite risk strategies and on more than one occasion it was very close between success and failure. Despite the intensity of their trades and the closeness of their success, to their credit they still produced a profit but from our experience, it may be better to replicate them on a manual only basis to start with and even then on a tentative basis.
$2000 profit in just 4 weeks is not going to make us millionaires overnight, but the team at Binary Option Club do not make that ludicrous claim. Those unbelievable and impossible claims are made by scam robots that only lose you money. The beauty about Binary Option Club and other human-made trading signals is that you have genuine traders generating the signals with the ability to take into consideration key aspects of influencing factors such as fundamental analysis
Overall, we are very happy with our month at Binary Option Club. The customer care was excellent, the education given was useful and most importantly not only did we make a nice healthy profit, but we felt in control the whole time, even in autopilot mode.
This is not a scam bot, this is a genuine profitable trade replicating service that made us nearly $2000 in profit for the month that we have been using it. $2000 safely withdrawn back into our bank account, all from twenty minutes signing up and depositing $500 four weeks earlier!