The1Option is a binary options trading robot that, like all other binary options robots, promises big profits with no effort or previous trading experience.
Like with all binary options robots, one must be extremely cautious and make sure this is not a scam before providing any personal information or depositing any money.
Who is behind it?
There is absolutely no information about who has developed this trading robot. There are no addresses, contact details or license information, which raises our suspicions that The1Option may actually be a scam.
We opened an account with the robot to see who the partnering brokers are. The only one listed is StockPair. It is owned by the Cyprus company Nextrade Worldwide, which has a license from the Cyprus Securities and Exchange Commission and can operate throughout the EU. There, however, have been warnings from Canadian provincial regulators that the broker is operating in Canada without the relevant license.
This, however, does not mean much when it comes to the trading robot itself. Usually the providers of such financial advice and services also need to be licensed by the relevant authorities. Like we already said, we could not find regulatory information on the robot’s site. Neither we could find any reference to The1Option on StockPair’s site. As a matter of fact, the broker has its own trading signals provided by Trading Central.
There is no specific information about the trading strategy deployed by The1Option robot – just some very general talk of “more than 500 signals combinations and 3 different methods”. It can’t possibly be more vague than this and surely sounds very suspicious.
There are no specific claims on the site itself, not a single digit. There is no historical data either.
In order to check the performance, we ran the demo mode of the robot and it struck us as impressively efficient. In about 20 minutes of demo trading, the robot made us $500 richer. In another 20 we had made nearly $900 total. In an hour, we were $1400 ahead. Very impressive, indeed, especially to the uninitiated.
If it were live trading, this would have been great, but the demo mode rarely is like real life. But if one looks at the demo mode carefully for a while, he will notice the patterns. Like, for example, that the $50 bets always win and that there are never two consecutive losing bets.
How does it make money for the developers?
Usually, the binary options robot developers make money from the commissions from the brokers. Most likely, this is also the case with The1Option robot. Even though the registration is free, there is a minimum deposit of $250 in order to start live trading. This is the same sum as that required by StockPair.
We strongly suspect that The1Option robot is a scam, despite being allegedly connected to the regulated binary options broker StockPair.
The information the robot provides is way too vague and insufficient and we are not convinced the robot is actually working the way it should be in real trading conditions. The lack of details about the company also makes us suspicious. So, it is better to avoid it.
Generally we are of the opinion that binary options are a very risky investment, even with a licensed broker.
If you do not have investment experience, but are interested in trading, there are sensible and less risky options for copy trading. There is the largest social trading network of the licensed company eToro. The broker offers more than 1200 trading instruments and has around 6 million registered users.
There are also the copytrading platforms MyFxBook and ZuluTrade. There are also licensed trading robots like RoboX and dedicated copy trading brokers like Darwinex.
The1Option Review Conclusion
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