Warning! Most people lose money using the Automata Formula Software.
Smart people will first use a real trading robot, see here.
The new Automata Formula is a trading software that automatically trade binary options for you, it was initially released in September 2016. If you are new to investing in binary options, please make sure you understand that there are many trading signals software and many are scams.
The first thing to do is read about the fraudulent binary option brokers, and familiarize yourself with how the scam works.
Automata Formula Review
All automated trading systems for binary options are free when used with a broker, and most software are identical just using different names.
How to find the best software? When we checked out the new software from Automata Formula, we see that there is nothing unique, and it is loaded with false promises.
When you see a trading software that promises a daily profit amount, or a percentage win rate, you can be certain the product is not being honest. Any real trading software knows it is against the law to make fake promises about success rates.
They write that this product is available for beta testers and it will cost $997. Don’t worry, you are one of 10 million people who received the same beta invitation, and they will never actually be able to sell this product for even $10.
How you should compare software, is by digging deeper into the product.
- Does it allow you to work with a legitimate broker?
- Can you manage risk with user controlled settings?
- Does the software have a demo mode?
The Bad Brokers Automata Formula Uses
If you have already read about the binary options scam, then you know that each country has their own licensed binary option brokers. When using a software that randomly assigns you a broker, many times you end up at an unlicensed offshore broker.
When a person deposits money with the software, you are actually giving your money to a fake binary options website, and you will never be able to get your money back.
We cannot stress this point enough, only use a licensed broker! Please read Why you should use a Licensed Broker.
Australia ASIC Warning
“ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services licence.”
Were you scammed by a binary options broker, or a bad trading software? Please share your experience in the comment section below.