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Brokers » Binary Options Robot
Binary Options Robot
- High success rate
- Supports beginners and teaches technical analysis by example
- Increases efficiency and saves times for more experienced traders
- Customizable Settings
- Brokers the software works with are pre-screened
- No phone-based customer support
- Could encourage traders to be lazy and not check suggestions against their own criteria
- No guarantee future performance will match historical record
Binary Options Robot, a binary options picking robot that actually does the job!
In this review the bonuses section is not applicable as Binary Options Robot is a technical analysis and trade ideas software and not a trading platform. Bonuses are as per the conditions offered by the 7 brokers the software works with. The software itself is very well designed and usable and it is difficult to find anything to complain about. Customer support via live chat is excellent. While there shouldn’t be any real need of telephone customer support the lack of it does slightly impact the score here. The options score is low as Binary Options Robot only applies its technical analysis to a range of 11 different forex pairs. While it is good that the company has decided to stick only to the instruments its approach has shown high rates of success with, this will hopefully be expanded in the future. The overall 85/100 score is based mainly on the quality of the core product, the software, with the limitations in number of kinds of assets it works with given a lighter weighting.
Binary Options trading has exploded in recent years and one of the primary attractions of this simplified loss-controlled trading instrument is that it is a great intro to trading for those with no prior experience. Traders only need to predict if a financial instrument will finish higher or lower than its starting price at the point the option expires. The timeframe of classic high/low binary options is between an hour and the end of market opening hours the same day, though turbo short-term options over 30 seconds to a few minutes and long-term options of up to a couple of months also exist.
In traditional trading via CFDs or spread betting, which also often involve the use of leverage, if the price of an instrument being traded moves sharply the wrong way, traders can lose far more than their initial investment. In binary options trading, the maximum loss is always the initial investment. If, for example, a 3-hour option on gold is taken at ‘high’, so long as gold’s price is higher after 3 hours than where it started, the trader will finish ‘in the money’ and win the trade. If gold’s price is lower after 3 hours, the trade is lost along with the initial invest, for example $10, and no more. It doesn’t matter how much lower the price has unexpectedly sunk, the loss is capped.
The easy-to-understand nature of binary options, and that potential losses are fixed and known from the outset, is an attractive proposition for beginner traders. However, they still need to correctly predict whether an instrument’s price will rise or fall by the expiry of their option.
Longer-term price movements of financial instruments are mainly influenced by what is call ‘fundamental’ factors. These are macro factors that dictate the intrinsic value of a financial instrument. How profitable a company is and how big the market is for its products and services are examples of fundamental factors that will dictate the value of the company’s stock price.
Over the shorter term however, within a single trading day, these fundamental factors rarely change. The mass behavioural psychology of market demand and supply pushes and pulls at prices over the course of a day where, barring any major news that would notably influence fundamental value, prices tend to move in the range of a fraction of a percent to a few percent at most. Technical analysis is based on the principle that these short-term price movement patterns, dictated by mass market psychology, repeat through time. Technical analysis, based on mathematical principles, is used to spot these repeating patterns and predict short-term price direction.
Being a consistently successful day trader requires having a reasonable grasp of technical analysis. Or, it used to. Binary options ‘robots’ are software that find and show these technical analysis-based patterns and the likely upcoming price movement they indicate for the instrument so the trader doesn’t have to do the technical analysis themselves. In these reviews, we look at the binary options robots available to traders and assess their merits across different key categories. Here we take a closer look at one of the market leaders – Binary Options Robot.
Binary Options Robot was launched in 2020, the software having been developed by a team of experienced traders and software development experts. The company behind Binary Options Robot does not fall under any regulatory regime as it is purely a software company which does not itself facilitate trading or is involved in holding any client funds. Traders simply buy a subscription and then use the robot software while trading to highlight good binary options trade opportunities which they must then decide themselves to execute or not.
Binary Options Robot has quickly become a favourite robot tool for binary options traders who appreciate its easy usability and strong record. Binary Options Robot won most industry awards for robot software in 2020.
Binary Options Robot is user friendly and has features that will appeal to a full range of traders from beginners to seasoned binary options traders. The software is not a plug-in used with binary options trading platforms or a downloaded desktop app but a stand-alone browser-based website, with mobile app also available. The navigation is well laid out and design uncluttered.
Once an account has been registered users must select one or more of the binary options brokers whose trading platform price quotes BOR has access too. An advantage of this is that the robot only works with reputable brokers so using it cuts out the danger of inadvertently trading with a scam broker from which withdrawals will subsequently be difficult.
The software works by taking the pricing charts of the broker and overlaying technical indicators such as, but not only, support and resistance, moving averages, Bollinger Bands and Fibonacci Indicators. The robot, on the basis of these technical indicators then predicts price movements that binary options can be taken out on. The trading itself is done via the broker, not Binary Options Robot. While users can set the software to automatically place trades most traders will choose to retain control of which suggested trades are taken up by buying a binary option. The trader also has full control of their budget and the value of the option taken.
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The mobile version of Binary Options Robot is well designed and retains the full functionality of the desktop version of the software.
It is available in both native Android and iOS apps and usability and design has been very nicely adapted to mobile format. If using a tablet, traders can either, as they prefer, use the standard desktop version of Binary Options Robot or the mobile app version.
Trading Features & Fees
As already touched upon, while Binary Options Robot has some nice default settings in terms of what technical indicators, and combinations of different indicators, are overlaid onto pricing charts, traders can also customise these as they wish. Generally speaking, the more indicators used together, the more accurate results are likely to be.
Over 10 different kind of technical indicator are available to use.
Binary Options Robot works with 7 different brokers, all of whom a minimum initial deposit of $250, or equivalent in another account base currency supported, when an account is opened via BOR. While there is a degree of variation in the level of payouts offered by the different brokers, they are relatively similar with maximum payouts between 86% and 90% and average between 75% and 85%. The seven broker that can be chosen from are:
Bank de Binary, 24option, Bloombex Options, RBinary, Opteck, ZoomTrader and PlusOption.
Bonuses & VIP programs
Binary Options Robot does not offer bonuses itself but most of the brokers that the software works with have bonus structures that will be made available to Binary Options Robot traders. Bonuses are typically a number of risk-free trades and cash top-ups to trading account deposits. One thing traders should be aware of is that bonuses often come with conditions attached to minimum trade turnover before withdrawals can then be made. Traders should ensure they are aware of any conditions and are happy with them before accepting a bonus. Often a bonus is considered accepted if not actively declined, something else to be aware of.
Binary Options Robot itself does offer a VIP account. The VIP account provides more advanced trading strategies and additional indicators that can be employed. Access to a VIP account is tied to the value of initial deposit made with one of the partner brokers and subsequent levels of trading.
Deposits and withdrawals
Again, because Binary Options Robot is not a trading platform itself, the company does not process any payments, either deposits nor withdrawals. All payments processing goes through the selected broker(s) and payment processing options, charges and fees are according to their terms and conditions, which should be researched by the trader. They can refer to our broker review session for details.
Binary Options Robot has a stated company policy to withhold extremely high levels of customer support. A multi-lingual team of support agents is accessible via live chat, which is recommended, or email, for any usability queries or issues that traders might encounter while using the software.
Extra features and resources
Binary Options Robot’s additional features include money management tools called Max Daily Trades and Daily Stop Loss. These are combined to ensure that traders never put any more money at risk than is affordable to them. While the software has a strong record of success, like even the most successful traders, it is not always right and these risk management features mean that bad days don’t impact longer term success rates.
VIP account holders also gain access to additional features that add a wider variety of options and allow greater customisation of strategies.
While it is important to never rely entirely on automated trading software or to consider it a route to quick riches, Binary Options Robot’s record is excellent. Beginners will benefit greatly by seeing the practical application of technical analysis techniques, which will help them accelerate their own education and understanding of this area. This should eventually mean they can apply technical analysis themselves, without the aid of software.
For more experienced traders who understand technical analysis, Binary Options Robot will prove an excellent time saving and efficiency tool. Technical analysis and trade positions are picked out, which they can then simply assess, rather than having to put the time and effort in to doing this for each instrument they are considering taking a binary option out on at any given moment during the trading day.
Used responsibly, Binary Options Robots is one of the best tools currently available to binary options traders.
How much does Binary Options Robot cost to use?
Binary Options Robot is free to use. The company makes its money via commissions from the brokers the software works with.
Is Binary Options Robot a scam?
No, there is no way for it to be a scam. BOR is simply software that automates technical analysis and picks out trade ideas on the basis of results. Traders then choose themselves whether they agree and if to execute the trade ideas or not.
How Does Binary Options Robot Work?
The software takes the pricing chart of a tradable instrument and automatically overlays different technical analysis indicators, making predictions based upon accepted trading methodologies.
6 Binary Options Robots That Actually Work
As technology advances, there are more and more ways to use it to help make our lives easier. Computers and artificial intelligence are starting to permeate through many aspects of our lives. From simple things like cleaning or self-driving cars to more complex situations like bomb disarming, robots are able to complete certain tasks without human influence. There are also options in the financial market that allow for artificial intelligence decision-making. For example, binary options can be controlled by robots. A binary option is based on the principle of all-or- nothing or high-low, where you risk a certain amount for a predetermined monetary amount. It’s a risky option but with the right tools, it can be very profitable.
Using robots to choose yes or no for you on your stock options can also be tricky but can be
quite easy. Here are six binary options robots that actually work in making yes or no decisions.
Binary Robot 365
Binary Robot 365 is one of the many choices in automated trading software that can choose to buy or pass on your stock options. What sets this one apart is the impressive amount of features offered. For example, your robot will present you with broker options without assigning one to you so you can find the one that works best. You’ll also be able to input other customizable options.
Relatively new to the trading scene, Option Robot offers completely automated trading. You also don’t need any previous trading knowledge in order to use it. This robot also has access to reputable brokers for you to choose from.
Mike’s Auto Trader
Before you wonder who Mike is, the name is just an example of one way you can customize this robot. This totally free software is also fully web-based and has gone through recent upgrades. Choosing this option will also give you access to the developer’s social media page where he has a private signals service (a notification of fresh trading opportunities).
Binary Robot Plus
This is a digital version of an actual system used by real world stock traders and one of the more advanced. One of its main features is its ability to be tailored to fit your exact training requirements without any unnecessary additions.
It can take a lot of time watching the markets, checking predictions and then deciding on buying or selling. This is a great robot option if you don’t have high amounts of time to dedicate to the process but still want to capture some of the great benefits of trading. Using your chosen methods and preferences for binary options, Automated Binary makes the decisions that you would without you having to juggle your schedule or miss other daily events.
One of the drawbacks to using automated robots for binary options is having to download bulky or potentially dangerous software onto your machines. BinaryOptionAutoTrading requires absolutely no downloads in order to get started. Once you sign up on their site, you’re immediately matched with a broker who can help guide you through the process and get you started.
The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.
7 Binary Options
One of the newest automated binary options to emerge on the scene is Option Robot. The system is fully automated so it will place trades on your behalf. The system will generate signals and send them directly to the trading platform. We wanted to see how this system rates up so we conducted a detailed investigation and compiled our results in the following Option Robot review so you can determine if this trading software will meet your needs.
How Does the System Work?
Option Robot generates trading signals based on algorithms used to analyze and predict the most profitable trades in the binary options market. These signals are then sent to the trader so they can determine whether or not they wish to place the trader. However, if you set the system to autopilot it will initiate the trades on your behalf. However, if you prefer to trade manually you can chose which trades you wish to act upon. Whichever options you choose, you will do well with this system as they have a very good success rate.
What is the Cost?
There is no membership fee required for Option Robot. However, you can only access the system once you have opened an account with one of their binary options brokers. You can chose from a list of brokers provided by Option Robot. You do need to make a minimum deposit of $250 to be able to start trading with the system. Once you have created an account, you can link the software to it and begin trading.
How to Get Started?
It’s very simple to get started with Option Robot.
- Create an account
- Select your broker
- Make you initial deposit
- And then use these funds to begin trading
You can set the system to autobot or trade manually. Once you start to accumulate funds you can withdraw your money according to the regulations set forth by your individual broker.
Option Robot Software Overview
So how does Option Robot work? After you sign up and deposit money into your account, you can immediately configure the software’s settings to your liking. Most automated trading software will allow you to adjust things a little bit by choosing the accuracy rate, the number of the trades placed, or the amount of money invested per trade.
With Option Robot, you have a new configuration choice in the binary options industry. You can choose which kind of technical indicator you want to utilize as well. They have six of these indicators in all:
- Relative Strength Index (RSI),
- Trend indicator,
- Moving Average Convergence Divergence (MACD) Oscillator,
- Williams Percent Range (or Williams),
- Commodity Channel Index (CCI),
- Stochastic Oscillator.
And you can select more than one of them at a time, configuring the software to only place a trade if BOTH indicators match.
Let’s say you’ve chosen the Commodity Channel Index and Williams Percent Range indicators. A signal to automatically place a trade only occurs when the criteria in both indicators agree with each other.
You’ll get fewer signals this way but they may lead to more accuracy and, therefore, more winning trades for you. This is something you’ll have to test out for sure, though, using the minimum amount of money you can get away with in the process.
In addition, you can also select from three trading system formats with Option Robot. The standard, or classic, trading system will likely be the safest choice for you especially if you’re a beginning trader. Then they also have the Martingale system, which is simple enough to understand but carries with it high risks yet also high profitability potential.
And finally, there’s the Fibonacci system that they’ve deemed the most accurate based on their own extensive testing; it can be a little complicated to understand, though, so you might want to get some more experience under your belt or study and test it extensively on a demo account before you try this one.
By clicking on the settings tab on Option Robot’s website, you can read all the details and watch a short video that demonstrates how to change the settings within the software.
You can configure the software in other ways too. Choose trading windows ranging from 30 seconds to one hour expiry time. Or execute as many as eight trades at the same time.
So, to summarize, you have the option of manually or automatically trading with Option Robt choosing among:
- Three different strategies,
- Six technical indicators,
- As many as eight trades simultaneously,
- And various expiry times ranging from as little as half a minute to an hour.
Spotting an Automated Robot Scam
- No Customer Support or Contact Information
Scammers don’t want to be bothered with customer service. So when you have a problem, you’ll have trouble getting any help. And that assumes you can even find any contact information on the site. Many scam sites don’t even have that…or if they do, it might be false information.
But if you do find customer support information, then contact them and ask a question or ask for clarification on something. See if and how fast they respond. If they do so quickly, then you have a higher possibility of getting help when you need it when you use their robot.
- Lack of Product Feature Information
If you struggle to find any information on the features of the robot anywhere on the site, that’s a sign of either simplicity that needs no explanation or bad features.
In worst case scenarios, the only feature involves you losing money…and that’s something a scam site will want to keep under wraps, of course. Honest binary option robot providers, on the other hand, give you enough information and a nice range of customization features.
- Poorly Designed Website
Fraudsters don’t like spending money on creating a professional-looking website. They see their scam as just a chance to make some fast cash. Therefore, they’ll often come across as obviously amateurish and untrustworthy.
But it pays to do your due diligence with everything. So while perusing a trading website, you’ll want to pay special attention to the images. Some can be paid stock images or that don’t represent the people they say they do.
Others may have been manipulated (or outright stolen). Or perhaps the scammers have even hired actors to pretend to be someone else or used photo-shopped images of celebrities to market their product.
Usually, however, if the website looks as stylish as credible websites of large companies, that’s usually a good sign of its legitimacy.
- Over-the-Top Promises
Another warning bell involves promises of exaggerated results like $2,000 per day for a new trader. None of the automated trading robots available on the market can guarantee that type of outcome. It’s highly likely they won’t ever be able to do so.
Keep your expectations at a few thousand dollars per month at best, and you won’t even earn that much right away. It takes more experience, testing and tweaking your approach, along with patience and perseverance of course. Whenever you invest money, you always risk losing it. So if someone guarantees you trading income, be very suspicious.
- Lack of Previous Trading History
No information about past trades equals a big red flag. If their robot executes trades with the kind of profit the site claims, then why would the people behind it want to hide that fact by providing no trade history at all? That’d be a huge marketing fail!
Lots of binary options robots developers make marketing statements assuring potential users of the high-profit potential of their software. But when you try to figure out where these profits originated, you’ll come up against a brick wall.
Developers behind credible trading robots will unabashedly post their product’s past trading history somewhere on their website. The more trades and farther back the history on display, the better.
- Software Compatibility with Only Scammy Broker Sites
If well-known and credible binary options brokers don’t trust a particular automated robot, then follow suit and stay away. In fact, the larger the number of brokers you can choose from with a robot, the better for you. You can gain access to bonuses like risk-free trades and such if you’re a new registrant.
You must have the ability to turn off the robot at any time and keep your investments in a broker account not affiliated with the robot. That way, you reduce fraudulent possibilities considerably.
- Few Assets Available for Trading
Some scam robots will only allow you to trade one asset…or they don’t make real trades at all. If you only have one or two assets you can trade, you’ll struggle to earn any money. So more assets available for trading offers more chances to make an income.
Sometimes a robot will specialize in a particular asset and prove itself a really good automated trader with it, earning huge profits. But usually, you’ll find limited opportunity with fraudulent robots.
- Too Short Product History
A short history doesn’t always indicate a scam. But scammers typically only stick around for a short time. Their product gets so much negative backlash from those who’ve tested it out that they can’t keep it on the market for too long.
Otherwise, they’d start losing money when faced with fewer customers coming in, more of their current customers leaving, and the continuing costs of running and maintaining their site and software.
So if a robot’s availability on the market stretches back years, you can likely trust that it does a good job and will earn you money. If you’re new to trading, stick with this type until you at least get a better handle on the industry and can better determine the viability of newer robots.
- Upfront Cost of Hundreds or Thousands of Dollars
Sometimes, you get good things even when you don’t have to pay for them. Many good, free binary options trading robots exist on the market. So you don’t need to pay a lot to get access to reliable software. Look around for free ones and you just may find some of them superior in quality to what you’d pay for.
The platform is a delight to use
Option Robot offers six technical indicators for traders. The system itself is extremely user-friendly and is an excellent choice for those new to binary options trading. Option Robot offers a variety of money management series that can help you increase your earning potential:
- Classic System
- Martingale System
- Fibonacci System.
You will have the ability to interact with some of the best brokers on the market.
The signup process is simple and quick. Option Robot has a unique feature called the “Reversed Trading Feature” which allows traders to place trades that go against the signal generated by the system. If you suspect that the signal provided by the system will not be profitable, you can reverse the trade as you so desire.
Is Option Robot a Scam?
As there are so many scam systems online these days, it can be quite difficult to determine which systems are actually trustworthy. We strongly believe that Option Robot is 100% legitimate. They have a winning ratio of around 83%, which is one of the highest percentages available in the market as of this writing.
A great benefit of Option Robot is that that most of the brokers they have listed are in fact regulated. This means that they are bound by the rules and laws of the regulatory body so you can be sure that your trades will be safe if you chose to trade with this system.
After our detailed research, we can accurately say that Option Robot is a reliable system. We have not run into any negative reviews or complaints as of this review. We can honestly recommend this binary options robot.
- Fully automated trading system
- Offers the ability to trade manually
- Offers a variety of assets with which to trade
- User-friendly interface
- Variety of reputable brokers
- Minimum deposit required
7 Binary Options review: OptionRobot: 5 stars.
Best Binary Broker 2020!
Perfect for Beginners!
Free Trading Education! Free Demo Acc!
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