Time for an update on this bot.

If you remember, this is a trade copier service whereby you buy the ‘bot’ which is an online platform that trades Binary Options for you at cherrytrade.com.

The sales copy goes on about how the author made $800,000 in one year using this system and he’ll do the same for you, all you have to do is open an account at cherrytrade, deposit your funds, and leave it to grow.

Now, since starting this review I received a number of e-mails from readers that have said they have, or know someone that has, had great difficulty getting funds out of these Binary Option brokers.

I’ve not used one before now so let me expand a bit on my experience with cherrytrade.

Opening the account and depositing funds was a piece of cake. I was up and running within minutes. What I would suggest to anyone thinking of trying this is that they use a phone number that is non-essential, like a spare pay-as-you-go mobile phone or something.

I say this because within 24 hours of signing up, I had two messages on my office phone from a bloke calling himself ‘Brett’ asking me to call him back about my account.

I didn’t call him back, I e-mailed him asking what he wanted. He replied asking me what the best time to call would be. I replied that I was perfectly capable of reading so that if he had something he wanted to tell me to just put it in the e-mail.

He replied saying that he wanted to ‘discuss my portfolio with a view to maximising my potential blar… blar… blar…’

I told him I had no interest in anything he had to offer to which came a snotty reply along the lines of he could see I was using a trading bot and that I’d never make any real money with that so if I wanted to ‘learn how to make money’ I needed to call him back.

Needless to say, I didn’t bother.

Two days later I get another message on the phone from another broker at cherrytrade asking me to call him back.

I think you can see where this is going…

Anyway, some readers suggested I should try withdrawing some funds. Since my account at the time had increased from $200 to $250 and then back down to $227.50 I thought I’d try making a withdrawal for $27.50 to see how quick they are at that.

I got an e-mail from my new friend Brett explaining that to withdraw funds I needed to give all sorts of info including… a photograph of the front and back of the card I used to deposit funds, a bank statement with my address on it, and photo ID.

I sent this information (albeit with the first 12 digits of my bank card photoshopped out on the front AND the back) and am now in the process of waiting to see what happens.

Now onto the bot itself.

As I mentioned earlier, my $200 account increased to $250. In fact it did this on the first day, which was encouraging. Since then, however, it’s been a bit of a damp squid. Over the last month it’s pretty much gone from$250, down to $190, back up to $227 etc.

I’ve checked just now and my account is now down to $110!

So one month in, and I’ve lost nearly half the bank. Who would have guessed?

Ok, I’m being slightly sarcastic here but I don’t think this really comes as a surprise to anyone. And this is why I went in with the minimum deposit allowed.

I’ve e-mailed the promoters of this system who have been telling me it’s the best thing since sliced bread to ask what they think of the first months performance.

I’ll let you know…

You can try Auto Income Bot here: