If you have been into binary options trading, it is highly likely that you have heard about trading robots. The best binary options trading apps have the potential to generate thousands of dollars in profit per day from an investment of less than $500. However, good binary options are hard to find given the high number of scammers in the market. Super Simple bot is one of the scam binary trading robots that you should avoid.
InsideBitcoins investigation reveals that the people behind this platform are scammers. We can confirm that you will lose money if you deposit it with them. Read our review of Cryptosoft for a legit trading robot or keep reading to learn more about Super Simple Bot.
Is Super Simple Bot a scam? Yes!
InsideBitcoins investigation involves a live test and an in-depth analysis of reviews by users who have tried the platform. We take into account factors such as transparency, consistency, reputability, customer service, and safety when determining a legit trading robot. A legit robot should not only disclose crucial details such as ownership and legal registration but must also have a proven track record.
We determine the track record by conducting a rigorous analysis of reviews by users who have tried the platform. When it comes to customer service, a legit trading robot should provide multiple channels of communication. Additionally, traders should be able to reach customer service with much ease. Moreover, a legit trading robot should have measures in place to safeguard users’ data.
Our live test shows that Super Simple Bot makes consistent losses. Likewise, there are a lot of complaints about this robot. The majority of users’ complain about losing their deposit and not being able to get help from the platform’s customer service. InsideBitcoins has also determined that this platform does not protect users’ data.
What is Super Simple Bot?
Super Simple Bot claims to be a binary options trading robot. The robot allegedly applies an auto-trading system that generates signals and executes trades automatically. InsideBitcoins investigation has determined that Super Simple Bot is a scam and you stand no chance of making any money with it.
We have determined that once a user makes a deposit, the robot automatically starts live trading. The user’s account is wiped out within hours of live trading. Our investigation reveals that the account seems to freeze after every thirty minutes of trading but the losses continue to accumulate.
How does Super Simple Bot Work?
In general, binary options trading bots analyze the markets for trading signals and automatically execute them in the users’ accounts. Binary Options trading involves betting on price movements by selecting a yes or a no to a statement presented by a broker.
For instance, the statement can be “stock XYZ will reach $45 on a specific date and time”. If you chose “yes” and your prediction turns out to be true, you make money. Likewise, if you are wrong, you make losses. A binary options broker makes money when you make losses. This explains why they can never act on the best interest of the trader when managing trading robots. Most scam binary options trading bots are owned by scam brokers.
In our own view, this platform has no proprietary trading technology. What they provide is just a cleverly built webpage where users get the illusion of live trading as their money is automatically siphoned from their accounts. This platform is owned and facilitated by scam binary options traders. These brokers are unregulated and can therefore never be held accountable for stealing deposits. We recommend that you only trade with tested and proven trading robots. Read our Bitcoin Code review for a legit trading robot.
Should I open an account with Super Simple Bot?
Why Super Simple Bot is a Scam
Our investigation finds a lot of red flags that this platform is a scam. First, they claim to have a 100% accuracy level. InsideBitcoins live tests find this robot to have 0% accuracy. Furthermore, an in-depth analysis of reviews by other people reveals that most people who have tried this platform have lost money. From our viewpoint, it is highly likely that Super Simple Bot is just a page configured to report losses. This is typical of most scam trading robots.
As we will see later in this review, this robot does not disclose crucial details such as the founder and the team behind it. They also do not disclose about their partner brokers until a deposit is made. This is because these brokers are a scam and have a reputation of conning people. Traders are likely to opt out if they get to know about these brokers before depositing their money.
Most of the scam robots that we have come across not only keep this type of information away from traders but also tell lies. Super Simple Bot is not an exemption. Our investigation reveals that the testimonials on this robot website are fabricated. It also appears like this platform does not have the technologies it claims to have. As noted earlier, there is a high likelihood that Super Simple Bot is just but a bait page used by scam brokers to solicit deposits.
How to determine a legit trading bot
There are several factors that you should consider when determining the legitimacy of a trading robot. These include:
- Transparency – As mentioned earlier, a legit robot should reveal all the details necessary in helping a user make informed decisions. These include legal registration details, founder/s identity, partner brokers, fee mechanism, and physical location. Scam robots do not reveal these details for the fear of traced and apprehended for stealing deposits.
- Consistency in profitability – A legit robot should show consistency in performance. Users should have a rough idea of what to expect from the robot and the real results should not deviate much from expectations. Scam trading robots promise high profitability but report consistent losses.
- Reputability – A legit robot should have a generally positive online sentiment. Scam robots, on the other hand, are likely to have a lot of negative reviews. Robots with a few perfect reviews are also likely to be a scam.
- Customer service – A good robot should provide top level customer services. They should provide multiple communication channels and their customer service should be standby to respond to users inquiries.
- Cyber safety – Legit robots ensure that their website and trading platforms are secure. They should have a properly defined personal data protection policy.
- Seamless deposit and withdrawals – Legit trading robots allow users to withdraw their money whenever they need it. The transactions should be facilitated within 48 hours and there should be little or no transaction fees.
Is Super Simple Bot a scam? The Verdict!
Super Simple Bot is a scam and you should avoid it. InsideBitcoins investigation reveals that this platform is used by scam binary options brokers to solicit deposits. Our tests further reveal that Super Simple Bot does not have any proprietary trading technology. What they provide is a cleverly built webpage to trick investors into signing up.
There are a lot of complaints about people losing deposits through this platform. InsideBitcoins live test reveals that Super Simple Bot makes consistent losses. With this robot, traders are likely to lose all their deposit within a few hours of live trading. Super Simple Bot does not disclose critical details such as the company behind it, the identity of the founders, and physical location. This is typical of most scam trading robots.
We recommend that you always carry out enough due diligence before opening an account with any trading robot. All the robots recommended by us are tested and proven to be legit. Read our review of Bitcoin News Trader for a legit robot with a potential of generating over $1500 in profits per day.