WikiTrader (wikitrader.co) review – Our verdict

Review of: Wikitrader

Reviewed by:
Rating:
1
On December 9, 2016
Last modified:December 23, 2016

Summary:

Wikitrader is actually just another binary options auto trading software. Afer looking into this app, we don't recommend it, since people will have problems withdrawing funds from the recommended broker, Algo Star.

WikiTrader (wikitrader.co) is not recommended

After looking into the website and also the member’s area of Wiki Trader, we don’t recommend this to our readers. While you can deposit money into the recommended broker, you will probably have trouble to withdraw. If you are looking for a real trading robot that works, we highly recommend that you look our top recommended product.

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? 

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. By the way, the Wikitrader app looks very similar to Prove My Profits app which is also being launched in this same month.

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. In case you are new to online trading, 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.

Where to go from now?

We highly recommend that you check out list of our top recommended app, especially Option Robot. For a few reasons:

1. 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.

2. 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, these binary brokers are regulated.

3. 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.

Wikitrader is actually just another binary options auto trading software. Afer looking into this app, we don't recommend it, since people will have problems withdrawing funds from the recommended broker, Algo Star.