Stay away from IQ Options...Their robots don't trade as they're programmed...PROOF included

wkdmartywkdmarty Posts: 8
Please please PLEASE, think LONG AND HARD about using IQ Option robots. I've been using them for a few weeks and it's been horrific. Not only has there been connection issues, but the robots are ERRONEOUS.

Please be aware that the stop-losses you put on your robot are not withheld and the bot WILL trade past them. I've had 2 stop-losses broken by a robot causing £300 and £100 losses which should never have happened.

Please see these images.

http://prntscr.com/chxe1c

You can clearly see that I want the robot to reset after 6 unsuccessful trades, but look what happened...

http://prntscr.com/chxdrs

Once this happens, you are then at the mercy of your account manager, who will try and fob you off with not refunding the money.

She keeps telling me that "the robots section is in beta" but nowhere on their site does it say this.

Unfortunately, I'm locked into this site now because of the bonus scheme, but once I'm out of this scheme, I will take my money elsewhere.

If the robots stuck to what you program them to, it would be ok, BUT THEY DON'T!!! You have been warned!

I also have a call outstanding with them about £900 worth of loss trades which I believe was NOT what the robot was programmed to trade, but they will not show proof that they were correct trades, even after I've shown proof that they weren't...Bye bye £900.

I wish I had never signed up with them.

Comments

  • OkaneOkane Posts: 1,092 admin
    Sorry to hear but it's not a surprise. Robots can't and will not make you money. Period.
    In this case, they are just supposed to be seen as a guide but even then, you should
    always make your own analysis.
  • wkdmartywkdmarty Posts: 8
    Further to this, I've just had the manager of customer services on the phone, and he's refusing to refund the money the robot erroneously took from me. What's more, he's now saying that IQ Option doesn't want me as a customer and that they will terminate my account.

    So they want to terminate my account, because I ask for a refund for a technical error THEY has instated and THEY have made money out of.

    Simple guys, is this a company YOU want do deal with?
  • wkdmartywkdmarty Posts: 8
    Okane, I agree, I was playing with the programming, but when I initiate a stop-loss, I expect it to be adhered to, if not, then refunded, because that is THEIR programming problem, not mine. Additionally, THEY made money off the back of their programming problem, which I had already identified to them. Refusal to refund seems like theft to me. If they do not refund, then I will see them in small claims court.
  • The_Geek_MHThe_Geek_MH Posts: 511 mod
    You are using robots provided by the broker and not building your own? I don't think I would ever use someone elses, especially since the product is so new. I am still curious to try building my own robot though, it looks pretty cool to me.

    IQ is CySEC right? You should complain to them, maybe to your credit card too, they may be able to get you a charge back.
  • wkdmartywkdmarty Posts: 8
    I was using a robot I had written, but it carried on trading past a stop-loss I had put in.

    I have also now had a response from IQ Option. They've told me to sign a waiver, so that I can have a refund of that last trade £100. It basically says and I quote "I am fully aware that the issues I am experiencing are due to the fact that the version of the Robots website is beta and as such may have some inconsistencies and bugs." - Which means, they WILL keep money generated from erroneous code on THEIR END.

    They only did the refund because I threatened to sue them. Not good when you lose money due to their bad programming. Anyway, I'm taking the money and running, I'll never use them again. I don't mind bugs, but reimbursement is expected if I lose money due to a bug that's not of my own doing.

    Yes, IQ is CySEC, and that was also going to be my parallel option whilst suing. Didn't think about the card option, my try that also.
  • The_Geek_MHThe_Geek_MH Posts: 511 mod
    at least that is something. In the end no matter what they say or how great or bad a system is it always traders responsibility and user beware.
  • wkdmartywkdmarty Posts: 8
    The Geek, I disagree, if I setup a stop-loss, I expect it to be adhered to, even if it's a bot. Otherwise, what's the point? What you're saying is that even if you were placing trades on forex normally, and you set a stop-loss, you would be happy to lose more money because your trade was not stopped at the stop-loss? I think not.

    Yes, it's my responsibility if the robot I create puts or calls wrong, but it's not my responsibility when I set a stop-loss and the robot ignores it. That is not something that is programmable on IQ Option. It's a setting on each robot. Simply amount of unsuccessful trades in a row before reset. I set 6, it traded 8, thus those last two are not my liability in my option. (And I was not concurrent trading, it was serial)
  • The_Geek_MHThe_Geek_MH Posts: 511 mod
    my point is that when you use a new, unproven technology you can't expect to have great results all the time, or for it to work the way it is supposed to. Trading with a self made robot sounds cool, this technology is also pretty interesting, but as we are discovering through this discussion may have some bugs as yet to be worked out.

    BTW what kind of stop-losses are you setting? like a max amount to bet or a certain number of trades? There are no stop losses in binary, at best there is early out features but those are not widespread and have serious limitations.
  • krokantkrokant Posts: 1
    jibjab said:

    robots can make you money, signal hive has proven that. Not unless you have terrible money management.

    What system do you use? and do you have experience with the robots from iqoption?

    I notice while binary trading that sometimes the trader throws and error instead of placing a trade..
  • wkdmartywkdmarty Posts: 8
    Avoid IQ Option

    I've taken to Visa to get my deposit back as suggested here.

    As soon as I mentioned IQ Option to my banks chargeback department, they said "We've had quite a few Chargebacks for this company, mainly because funds were not released back to the customer when they were withdrawing funds" - OMG, they're not giving out the funds when customers click Withdraw!?!?! WTF!

    I haven't had my money deposited back in my account either.

    Massive alarm bells.
  • The_Geek_MHThe_Geek_MH Posts: 511 mod
    jibjab said:

    pretty dumb to use a robot provided by the broker. I mean robots by someone with no conflict of interest, and with rigorous backtesting data and proper MM

    it's not a robot provided by a broker, its a robot you build using this new robot building technology where you set up your own flow chart of instructions to initiate trades.
  • TobiasRobinsonTobiasRobinson Posts: 41 admin
    I do not think the "beta" excuse from IQ Option is acceptable. Providing evidence that a robot has traded outside of it's parameters and suffered a loss, should result in a refund. The issue is, if the robot traded outside of it's parameters and made money - would the trader give it back? :wink:

    It is interesting to see someone using this in anger though. The other important point is that it is possible to setup your robot on the demo account, and let it run on there. That might be an idea for anyone keen to set one up, but worried about the bugs.
  • TobiasRobinsonTobiasRobinson Posts: 41 admin
    In this example, IQ Option give traders the ability to configure their own robot. Based on criteria setup by the user. So IQ Option provided the tools via which a trader builds the robot.
  • I agree with you that the beta excuse is not acceptable. But in what world do you trust a broker to build a profitable robot to help you take their money? Because no broker has market makers and as much as they tell you different bs stories about how they don't make money off your losses, they do. So using a robot from them either simply means you are stupid if you have been around any time or a newbie that was taken in by their lying. The only bots a broker will enjoy having are the ones that zero out your balance as fast as possible because than your money is now their money. So anybody who bought into IQoptions HYPE is a sucker for them to take advantage of. Nice job on promoting them binaryoptions.net!
  • OkaneOkane Posts: 1,092 admin

    You might also think about hiring some real moderators instead of these goofballs Okane and Michael Hodges, omg why don't they just work for the binary options brokers? What am I saying, they likely do! You two SUCK imo and if you don't like that well try not defending brokers when they are in the wrong instead you bash traders? You two are just paid shills than... Worse you both are so boring I want to use you for sleep aids anytime I have insomnia. You could put people high on crack in coma's you are so boring in what you write.

    You two goofball mother _______ers you defend them even when they state it was an error on their part! You TWO JUST SUCK 10 DAY OLD SWEATY MONKEY BALLS!

    Where exactly in my reply did you see any defending of IQ.

    Anyway, I still don't see when I defended any robots or in this case IQ.
    You are just making a fool out of yourself.

    PS:
    If we are that boring feel free to piss off somewhere else.
  • OkaneOkane Posts: 1,092 admin
    edited September 2016
    jibjab said:

    That's what i am saying, if IQ options provides the technology for building the robot, it is the same as owning the robot, why would you wanna use anything like robots or any trade help from the broker? it is always a bad idea.

    I used to ask myself that too. But I realized that some people just want to play and have fun.
    They don't really care. Of course, you can tell them what's good or bad but in the end it's up to their
    judgment.
    Reminds of that Michael Freeman guy, he would go on and on about how autotraders and robots are scams
    and NO real trader would ever use one and if you see one, it is 100% scam. Then he made his own autotrader and
    all his followers jumped on it. I suppose you know the rest of the story...
    You know the expression; falling on deaf ears.
    Then people like blackwarrior above wonder why we blame "traders". Traders? What traders?
    I have never blamed any traders, only the gamblers and the gullible.

    In the case of this IQ robot, it's probably fun for people who just want to play around and
    get their "casino roulette rush" and I'm sure many people will find it interesting even if they lose money on it.
    They got their entertainment. Then there are people who are here to trade and they know that making money
    means you have to become a trader not just deposit and the broker will make you money out of thin air. lol



  • MahargMaharg Posts: 24
    What I am learning? There are no shortcuts. It is absolutely a must to learn trading for myself and if I wanted to go on to play with algos and such like then fine but I'm going to put in the time and effort on the basics first whatever I do from then on.

  • Has someone heard about BREXITHACKSYSTEM.COM ? It is a robot behind a nice story as advertisement on my Smartphone. I put 500€ in it and in no time first four days I had over 3000€. WIN/LOS 75-25 Users: 5.000 to 10.000 After the second 4 days WIN/LOS 60-40. USERS:20.000 After the third 4 days WIN/LOS 30-70. USERS: 30.000 My account down to 1.370€. But in the main period the broker behind B4BINARY.COM called me and let me transfer 5.000 more and promised me to do it better then this robot from BREXITHACK. Now I became scared after reading all the comments on this website. Because BREXITHACKSYSTEM.COM also guided me to the site of BINARYBOOK where this money 1.000€ is "lost in a put on dollar". I asked my money back from B4BINARY but untill yet is nothing on my account. I need to call my senior ROBERT YOUNG they said. I keep you informed about my account of 6.776 Euro.
  • OkaneOkane Posts: 1,092 admin

    Has someone heard about BREXITHACKSYSTEM.COM ? It is a robot behind a nice story as advertisement on my Smartphone. I put 500€ in it and in no time first four days I had over 3000€. WIN/LOS 75-25 Users: 5.000 to 10.000 After the second 4 days WIN/LOS 60-40. USERS:20.000 After the third 4 days WIN/LOS 30-70. USERS: 30.000 My account down to 1.370€. But in the main period the broker behind B4BINARY.COM called me and let me transfer 5.000 more and promised me to do it better then this robot from BREXITHACK. Now I became scared after reading all the comments on this website. Because BREXITHACKSYSTEM.COM also guided me to the site of BINARYBOOK where this money 1.000€ is "lost in a put on dollar". I asked my money back from B4BINARY but untill yet is nothing on my account. I need to call my senior ROBERT YOUNG they said. I keep you informed about my account of 6.776 Euro.

    Yeah I have heard about that. As usual, these scam robot providers send you to garbage scam broker...
    Man it doesn't matter if you made any money or not, those brokers would never let you withdraw one cent.
  • arif9m9arif9m9 Posts: 33

    Has someone heard about BREXITHACKSYSTEM.COM ? It is a robot behind a nice story as advertisement on my Smartphone. I put 500€ in it and in no time first four days I had over 3000€. WIN/LOS 75-25 Users: 5.000 to 10.000 After the second 4 days WIN/LOS 60-40. USERS:20.000 After the third 4 days WIN/LOS 30-70. USERS: 30.000 My account down to 1.370€. But in the main period the broker behind B4BINARY.COM called me and let me transfer 5.000 more and promised me to do it better then this robot from BREXITHACK. Now I became scared after reading all the comments on this website. Because BREXITHACKSYSTEM.COM also guided me to the site of BINARYBOOK where this money 1.000€ is "lost in a put on dollar". I asked my money back from B4BINARY but untill yet is nothing on my account. I need to call my senior ROBERT YOUNG they said. I keep you informed about my account of 6.776 Euro.

    You're such a fool. SMH...
  • Hello!

    At the moment, there are no robots at IQ Option.

    However, if you have any issues with your deals, please, contact our Support Team: https://iqoption.com/en/contacts

    If there is an issue from our side, the deal will be compensated.

    IQ Option Support Team
  • OkaneOkane Posts: 1,092 admin
    We no have an official IQ Option thread. Other IQ Option threads will be closed.

    http://forum.binaryoptions.net/discussion/5108/iq-option-support-official-topic#latest
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