BinaryOptionsRobot is everything a high-end auto trading binary bot should be. This robot accepts UK traders so I’ve decided to try it out – In this review we’ll see if the binary option robot is really working or if it’s just another scam.
It is devoid of usual neg characteristics we are used to noticing about the many wannabes and programs not worth their salt that riddle the auto trading space.
These common negative qualities range from exorbitant costs, difficulty in usage, zero updates to shocking lackluster performance. In contrast, the BinaryOptionsRobot has clearly different characteristics and more including a better interface, more diversity, and terrific support.
How Much Does BinaryOptionsRobot Cost
The top draw for the binaryoptionsrobot is that it is FREE to use. And there is no catch either, you don’t get to pay for any upgrades or special feature.
However, to use the bot, you would have to register with one of the partner brokers (do not worry, there are plenty to choose from). Of course, you would have to deposit capital in your broker account in other to trade binary options with the bot.
How Does BinaryOptionsRobot Work
The principle of operation of the BinaryOptionsRobot is dual-faceted. In clearer terms, there are two prime components of the Binary Option Robot—Auto Trading and Signal Generation.
This is the major and the first in-built component of the robot. To put it simply, this component uses a sophisticated auto trading algorithm to analyze current trends, match it with historical data, then make informed trading decisions after it has identified repeatable patterns.
It sounds technical and it is. However, the appeal about this component is the automated nature of how it works. The software performs all of these processes within seconds without the need for human input.
This gives it the reputation of being a set-and-forget system as it places winning trades for you while you are away from your system and the market.
This is the more recent component of the robot. However, this component offers more control to the trader and utilizes the fast-growing automated strategy/system concept.
It is common speak in binary options for each trader to have a trading strategy that generate signals or opportunities that you may want to take advantage of. For beginner traders, much of the steps in a strategy are manual. However, more experienced traders are able to automate the steps in a strategy in the form of a computer program to create an automated trading system.
Now, by plugging this automated trading system into a bot like BinaryOptionsRobot, the bot automatically uses the trading system to generate signals and then offers you the choice to trade the signal or not to.
In summary, the automated trading system does the hard work of finding the elusive golden opportunities and offers you the ability to make the best of them. Alternatively, the bot could automatically trade the signals on your behalf in a complete hands-off approach.
Settings/Features Of The Robot
Number of Assets
The binaryoptionsrobot can offer automated trading in over two dozen currency pairs and also provides signals for major commodities and indices like Gold and Dow Jones.
This presents a wide array of assets to choose from, a step above the limited options on other bots in the industry. More assets are added regularly to further improve the selection pool.
Binary Option Robot supports over a dozen binary brokers including regulated big names like 24Option and Banc De Binary as well as lesser-known brokers like Option FM and Tradorax.
The large number of brokers available is for users to avail of different payout and refund schemes as well as take advantage of specific broker opportunities like low minimum deposits and trade sizes.
Of late, Binary Option Robot has begun to offer terrific trading signals in a number of packages/from different high-quality sources. The selection includes:
- Pro Trader Katrina
- Pro Trader Sergiy
- Pro Trader Mircea
- Pro Trader Liberty
- Pro Trader Avangard
The last two packages carry certain requirements before they are available for use.
- Making a deposit with a partner broker unlocks Pro Trader Liberty
- Funding an account with another broker unlocks Pro Trader Avangard
Binary options auto trading carries a substantial amount of risk. However, in other to help maximize profits the Binary Options Robot offers different risk levels to serve traders with differing risk appetites. The levels are:
This feature is especially important for beginners as it provides the necessary buffer to avoid burning through capital needlessly should there be a string of consecutive losses.
Amount to Trade
The minimum amount to deposit as well as the minimum amount to trade wholly depends on the broker you choose. However, the Binary Options Robot offers the ability to choose the amount to trade for better money and risk management.
Maximum Number of Trades
This is a solid feature to protect your bases. By limiting the maximum number of trades the auto trader makes on your behalf, you are limiting the possibility of taking on substantial losses. For the best outcomes, you should combine it with the use of other features.
With stop-loss, you can set the exact boundaries of how much losses you can take on in the worst-case scenario even when you are not physically available. The default stop loss is $10 per day. However, you can set this to whatever value you want after taking into consideration the number of trades, amount to trade, and risk level.
Reverse trading employs the familiar hedging strategy. Such that the robot enters a trade that is opposite to the signal instruction generated.
This feature is particularly useful if you have been making consistent losses. In addition, you can also use it with other settings to limit your losses even more.
Broker Account Types
This account offers control over most of the features as well as the complete selection of assets, brokers, and signals.
This prominent feature of this account type is the ability to select risk levels. It also carries $0 cost. However, to upgrade from standard to VIP account, you would need to fulfil either of these two requirements:
- Make a deposit within 48 hours of registering
- Refer a friend with your unique referral link
The second option offers you and your referral TWO months of VIP status.
Success Rate Of BinaryOptionsRobot
Success rate of using Binary Options Robot is across the board. However, with appropriate selection and tweaking of settings, it is possible to have a success rate of a little above 80%.
The recipe to having success with Binary Options Robot is to understand how each feature influences your success rate. For example, brokers offer different payouts for the same asset. Individual brokers also offer different payouts for different assets on their platform.
In addition, having a concrete money and risk management strategy will ensure that occasional losses that will inevitably occur will not heavily affect your capital.
Easy Setup Steps
Setting up Binary Option Robot is simple. You only have to follow these seamless steps:
- Create a FREE account
- Choose a broker and make a deposit
- Start Trading
The customer service of Binary Option Robot is far better than many paid bots and even brokers in the industry. You can get in touch via phone, email, and live chat.
There is a very clear video on how to get started with the bot. Response time and quality of response is over the roof.
Is BinaryOptionsRobot A Scam?
As expected, there are quite a number of complaints with the software and most of it concerns its success rate. However, as previously stated, the success rate you get can depend on the trader as much as it depends on the software. We think that binaryoptionsrobot.com is not a scam.
Furthermore, there are plenty of tools and features to improve how the software performs. Like with manual trading, it is entirely within the realm of possibility for there to be a streak of consecutive losing trades that can affect your success rate substantially.
In such cases, an action as simple as changing asset; broker; signal provider; altering stop loss, risk level, amount of trades; and even using reverse trading can place you back on the winning lane.
In any case, you should keep your eyes peeled on what you are doing when using the Binary Options Robot.
Pros and Cons Of BinaryOptionsRobot.com
- Regular updates
- No software download needed
- Can access from anywhere with any internet-enabled device (PC, smartphone, tablet)
- Top-end security
- Multiple languages
- Easy to use
- 100% automated
- Large selection of brokers, assets, signals, and features
- Partners with regulated and tested brokers
- No need for technical knowledge
- Certain popular brokers and assets are not available