SETonTRADE is a SCAM!
Read this review before you decide to put your money inside this robot.
Official website: setontrade.com
SETonTRADE is fairly new flying under the radar trading platform. The service is not really famous and that’s why we are so late on addressing it. Yesterday we received a question from one of our subscribers who asked if this service is reliable for test-drive. We`ll immediately answer, no it’s not a trustworthy service. With this article we`ll explain why this trading bot must be avoided!
Note that for the past 10 months we have revealed at least 15 of those trading solutions. They are all looking the same, offering the same and following the same agenda.
What the SETonTRADE Software is?
From the information exposed on setontrade.com we understand that it’s automated trading robot. The robot is supposed to allow the investors a to benefit from the online market while they are away from the computer. You simply need to choose the setting and start the auto-trading function of the service.
Allegedly the service allows the traders to use variety of settings and trading indicators. Such as:
Trend Indicator: Claiming that this indicator is based on moving averages, but there is no further information exposed about the settings. It seems little bit suspicious!
Relative Strength Index (RSI), Commodity Channel Index (CCI), Stochastics and Williams are indicators used usually as triggers. Their main purpose is to measure where the markets are in overbought or oversold levels. In addition, some traders are using them to locate divergence on the charts. Basically all those are similar and they all work pretty much the same. Our idea here is that we wonder why they need 4 similar indicators, which do practically the same work.
In addition to the analyzation indicators we have 3 types of trading. Classic, Martingale and Fibonacci.
Classic is as the same suggests, just classic. Once you set this trading option the robot will take every next trade with the same amount.
Martingale and Fibonacci are the tricky once. Martingale is simple double up method familiar to us from the casino roulette. Basically once you lose a trade the algorithm will double up every next trade, till you win and then it will start over with the initial-set investment. What will happen here is that if you happen to have 7 – 8 out of the money trades you`ll simply lose all your account probably. Fibonacci is pretty much the same but its following the Fibonacci numbers 1,1,2,3,5,8,13 and so on. Again a double up method but slightly lagging one. Basically the two additional trading methods can help the software to steal your money faster.
Furthermore, the robot allows all new investors to test the service with demo account before they decide to deposit real money!
Now, why we think that the SETonTRADE Software is a scam?
Once you are inside the industry and you learn how to recognize bogus systems. Problem is that when you are a newcomer, and you land on SETonTRADE.com website you can be tricked away. Especially if you decide to test the demo account and see some profits. Reality however, is completely different and we`ll explain why!
First this platform this interface, is a white label technology. Basically anyone can buy it, and put his logo on. After that he just starts to scam people, simple as that. So far, we have revealed at least 15 similar looking robots: iRobot, Dual Robot, Optibin Robot, Automated Binary Robot, Option Robot, etc. You can check some of our older reviews and compare the services.
What you have missed?
First the creators of the service always remain anonymous. Always they are hidden behind fake names or non-existing companies.
All of the trading apps claim unrealistic profits and success rates. It’s proven that those trading applications run around 50% accuracy. Knowing that binary options return rates are averaging 75% these days, we can alone calculate that wining 50% of our positions will put us into a ruff spot.
The key convincing detail is the demo accounts. The algorithm for the demo account is developed to always win you money. No matter what you do, you`ll always see your demo account rising.
Anyway, once you register a real money account and you fund it with solid cash, you`ll experience the reality. The robot will start losing your money really quickly due to the low accuracy. During the past months we have received all kinds of complains for those bots, basically people are losing their initial investments of $250 for 1 – 2 hours.
How you can debunk the fraud? Just open demo account and make 10 – 20 trades. Once you get the stats, compare the expiry rates (the end price) with real online charts! You`ll notice big difference between the expiry rates of the SETonTRADE software and the real chart prices. That’s because the demo is set to always win you money!
The SETonTRADE Scam Review – The Summary!
We believe that in the future, those type of lame services will continue to pop up from thin air! That’s you if you have landed on this article it very important to read it well. Once you do it just memorize the look and avoid all mimic-looking trading service. They are all scams with no exception!
Review Verdict: the SETonTRADE Scam Alert! Beware and Avoid registrations with SETonTRADE.com!
Binary Options trading can be both risky or extremely lucrative. Everything depends on you and your decision making. Due to the high demand there are many crooks stalking for your money! Knowing that you have to rely always on reputed systems! For safer alternatives we invite you to check our Top Rated Trading Solutions. They all 100% endorsed by the trading society and tested for long period of time!
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