I have received many requests to examine a new software and this is why the present review will examine SetOnTrade founded and designed by a group of experienced traders. Binary options systems usually can be categorized into 3 distinct types: robots, signal-generators and profit-amplifying solutions.
All of them, if actually legit and properly operating, have the chance to achieve users success. However, my impressions are that this binary options robot is a likely scam and it is best to avoid it. All the reasons for this are explained thoroughly in the following review.
Review Verdict: SetOnTrade Is A Scam!
SetOnTrade System – What is it?
This piece of binary options software is basically a signals-generating and providing system. From what I was able to find out about it, the robot also offers a manual and automated mode. SetOnTrade System applies a programming algorithm that carefully inspects and analyzes investment charts and market patters.
It does so with a supposed success rate of 80%, which my research into the automated trading system was not able to verify. There is something dubious and devious about this binary signals-provider to say the least. And not only because it was created by a group of anonymous people whose professional and personal background also remain a complete mystery!
Review Verdict: SetOnTrade Is Not Safe!
SetOnTrade Software – Who are the Creators?
Unfortunately, no matter how hard I tried to verify the identity of the ones responsible for the founding and establishment of SetOnTrade Software, the task proved to be nearly impossible. All available data, or the apparent lack of such, suggest that they are either scammers or non-existent. Why else would they deter from disclosing their personalities?
Set On Trade – Does it Have any Special Features?
One more thing which is quite discouraging about this binary automated software is that it has close to no provided special features. It does give traders a chance to invest choosing between 3 different styles: Classic – best intended for novices, Martingale – for people who prefer a more aggressive pace and Fibonacci – intended for professionals.
Another one of the very few solid factors about this binary options – it provides users with the ability to trade according to 6 indicators. I have compiled a brief description of their basic characteristics as follows:
- STOCH: Also known as the Stochastic Oscillator, it is mainly used to determine the low in an asset’s price.
- WILLIAMS: Almost the same as STOCK in operational principle, the only difference is that it is applied to determine the ups in the financial value of a stock, indice, commodity or currency pair.
- MACD: This would be the short form of Moving Average Convergence Divergence. Makes use of 2 moving averages so that in can predict the movements in an asset’s price.
- CCI: The abbreviation stands for Commodity Channel Index. It can basically correlate the asset prices at hand with the moving averages.
- RSI: Again, this is a short form for Relative Strength Index. It predicts the monetary value by taking into account speed and current shifts.
- TREND: This one is the most primary type of indicator. It takes forward the average current asset price trends and determines their value accordingly.
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SetOnTradeSystem – Provided Demo Account
My investigation has confirmed that this binary options system does in fact offer users the possibility to open a demo account. Unfortunately, it has connections with some rather shady and unregulated online broker platforms, so, it would be unwise to proceed and trade with it.
Otherwise, the SetOnTrade System‘s demo account is funded with $6,000 and investors can place them whichever way they like.
SetOnTrade – Unreliable Customer Support
While it does provide some type of customer support, the service is highly untrustworthy as it can be reached solely via email. Concerns are usually addressed within 24 hours of its receiving and are only processed Monday through Friday from 9 am to 6 pm.
“My investigation has proven that SetOnTrade System operates only with currency pairs, not with all four main asset types. Unless, you are an experienced trader who prefers to invest solely with the said, it would be ill-considered to sign up with this binary options system.”
SetOnTrade – Final Scam Verdict
This binary trading system is still new on the Internet market, but there are many dubious things about it. Take for example the fact that it invests solely with currency pairs, which makes it available to a limited number of professional traders. Also, its success rate is very low – just 80%. Compared to others, this is quite the disappointing performance.
My best advice would be for users to turn to a legit and proven to work binary options robot and not to SetOnTrade. While there is not enough proof that it is scam, the chances for this are very high.
Review Verdict: SetOnTrade Is Not Safe!