1800option is an auto trading robot that goes by a few different names. We have seen at called MillionaireTruth, YourFirstMillion and WealthinaWeek.
From our initial research, it seems that 1800option is specially made for use with the binary options broker called BinaryUno.
1800option Software Review
The software is a very basic binary options robot. As you can see in the screenshot, there are not many options available for the investor to choose from.
When you compare this product with other automated trading systems, the only positive thing about it, is that you can choose which assets you want to trade.
The software is lacking historical performance results and historical signals. So we have no idea of the frequency of trading signals, and are trades placed every 5 minutes or a few times a day.
The “total trade amount” setting on 1800option is also not very clear. Does it mean total losses for one day, or is it the total amount of open positions.
The Choice of Brokers
Our biggest problem with most binary option robots, is the brokers that they work with.
Most algorithm trading software are only connected with one broker, which leads us to believe that the software is actually owned by that broker. Most brokers make money when their clients lose money, so how good can the software be. It is not in their interested for you to make money, when they take the other side of the trade.
Also, many brokers have rules in their terms and conditions page, which prohibit the usage of automated trading software.
Licensed Brokers
When trading binary options, it is very important to use a broker that is licensed and regulated. You can read more about licensed brokers here.
On ScamBroker.com you will find more that 100 reviews of brokers. That majority of brokers do not have a license!
The Best Auto Trading Robot
When seeking an automated trading robot, there are a few items you want to check.
- Does it work with multiple brokers or just one.
- Do it work with a licensed broker.
- How often signals are generated.
- Can you reverse trade bad signals.
- Are they making false promises about performance.
Before using any software for automated trading, make sure to thoroughly research the software and the broker.