WikiTrader (wikitrader.co) cannot be tested on demo account first
After looking into the website and also the member’s area of Wiki Trader, we don’t recommend this to our readers. While the software itself claims that it is free on the website, the truth is, WikiTrader is actually NOT free. If you are looking for a real software that works, we highly recommend Option Robot, since you can test the water first with the demo account, in other words, fake money, before depositing real money on the line.
The person in Wikitrader.co video, Kelly Wallace is obviously an actor
In case you didn’t know, there are tons of similar binary options apps before using actors and pretend as entrepreneurs/traders. The same goes for WikiTrader video. Whoever that Kelly Wallace is, obviously she is an actor and pretending to be a real trader. The income claim for WikiTrader, while it sounds achievable, but the truth is, the results could be vary depending on the people who are using this software.
Is WikiTrader really free?
Short answer: No. When they mentioned that you will have free access, it is just a trap to lure you into signing up for their newsletter. Once inside, you will be taken to the WikiTrader app dashboard where you need to deposit money inside the recommended broker.
Do you want to make money on autopilot? Yeah, WikiTrader is an auto trading app
This app promised you that you can make money on autopilot by using the WikiTrader app. In other words, you need to deposit $250 and then let this software trade for you.
The problem is, most people don’t understand that this kind of apps doesn’t guarantee the high winning rate. It all depends on how you use this software. Too bad WikiTrader app doesn’t have some kind of settings to control your risk, budget and lets alone the type of indicators that you need to use.
Now, in case you didn’t know, these type of trading software works on certain indicators, such as relative strength index (RSI), MACD, and more. In other words, if the indicators confirm that the trend is going up, then you simply choose call. Otherwise, if you think that the trend is going down, then choose put.
Do you want to withdraw now? Good luck
The recommended broker for Wikitrader is actually Algo Star which is not a regulated broker. You can grab some information about Algo Star here. Some people claim that they can withdraw their fund from unregulated binary options brokers, but some others don’t.
While we don’t want to argue about that, you should know that unregulated broker is not safe, compared to regulated ones. Regulated binary options or forex brokers allow their traders to withdraw fund from their trading accounts, unregulated ones usually not.
Algo Star is not regulated
In case you didn’t know, lots of payment processors and online trading brokers are actually regulated. In other words, they get the government’s seal of approval first, such as license numbers before operating their business.
Usually, regulated forex or binary options brokers will get their license from CySEC or FSA before running their business. Their license numbers will be mentioned in their about page of the website. Too bad, we cannot find any license numbers in Algo Star website.
The truth about products like Wikitrader
If you want to make real money online, in other words, starting a real business, then Wikitrader is not for you. This app is actually geared for people who are looking for easy money. In other words, they want the money to come real fast, quick and most importantly, they must be free.
Too bad, in this world, there is no such a thing. If you want to get rich, then keep on learning and putting tons of effort into your ventures.
Where to go from now?
We highly recommend that you sign up for a real, regulated brokers or at least find trading software which can be tested on the demo accounts first, before putting your hard earned cash on the line. There are only a few of them being reviewed all over the web.
Our top recommended app
We highly recommend that you check out our top recommended app, that is Option Robot. For a few reasons:
1. You can try this software on the demo accounts first before putting real money on the line. Therefore, we cannot guarantee that all users will achieve the same results as all other users. Some people will have a high winning rate, some others don’t.
2. This app can be tested on demo accounts first. In other words, you don’t need to spend a dime to learn and get familiar with this app.
3. You don’t need to choose or stick with any specific binary options brokers. You can choose whatever binary options broker that you like since this app comes with features that you can use to trade with. Yes, the binary brokers are regulated.
4. No hype sales letter on the optionrobot.com website, such as make $1000 per day or something like that. This is not a magic wand or something like that. Like being mentioned before, nobody can guarantee a high winning rate for every single user who jumps into this app, because it all depends on how you use this software.
5. You can find tutorials on how to use Option Robot on Youtube, so rest assured, you are not alone. Test the tactics first and then start profiting from this app.