How good is the binary option robot read the review
So the level of investment, the type of assets to trade and the level of risk. Once configured, the software can be left to place trades based on the settings given. The difference being that when auto trading software spots a signal, based on data analysis, it will open a trade.
A signal provider will simply highlight the trading opportunity, but leave the actual opening of the trade to the user. Automated software therefore, generates signals based on the algorithms it uses, and will open and close trades based on those algorithms. There are also services that will allow trades to be opened based on a real-life binary options trader. Providers will offer a list of live traders, and publish their results.
Users of the platform can then decide to copy those traders — choosing levels of risk and investment to suit their own needs. The automated nature of this style of trading is fraught with danger. If ever a trader hands control of their trading over to someone else, the level of risk grows hugely.
Our scams page details some of the red flags to look for including a list of scam services , but auto trading in particular attracts a lot of scam operations. Here are a few reasons why:. Warning sings of a scam will include a lack of transparency results that are not verifiable , forcing users to use a particular broker, and the most obvious — the promises of guaranteed or very high profits.
If it was easy, everyone would be doing it. Tread very carefully if proceeding with auto traders. The risk of scams is considerable. Other Auto Trading Software Auto trading software does require a small manual element in setting up, but once that is done — as the names suggests — the trading is automated.
Copy Other Traders There are also services that will allow trades to be opened based on a real-life binary options trader. Robot and Auto Trading Scams The automated nature of this style of trading is fraught with danger.
Here are a few reasons why: Novice Traders — Auto trading software is often aimed at novice traders, or people who do not have the time or knowledge to trade themselves. This group is perhaps easier to mislead, and they are therefore targeted. Easy to blame the trader — Linked to the first point.
Dishonest providers will simply say the software was misused, and therefore not at fault. Control — If traders have put someone else in control of their trading, it is very easy to simply say the money was lost trading. This trading tool is a software program that executes trades for you automatically. The goal here is to simplify your life so that you can get your trading in all without spending a lot of time researching opportunities in front of your computer.
Other people simply want to reap the benefits that comes from trading by seeing the profits that are associated with it. Some people fall in the middle of this spectrum.
Depending on where you might fall here, a trading robot could be the right choice for you. The Binary Option Robot does not require you to download anything. All of the features of the robot are completely accessible directly from their website. It runs from a cloud account, so it is fully accessible from your computer or from your mobile device without the need of downloading clunky software.
Your capital is at risk. This trading tool is simple to use, our Binary Option Robot review team discovered. Binary Option Robot asks that you fund your account and then select how much you want to risk per trade. The goal here is to put enough into your account so that variance can be compensated for. Even though Binary Option Robot uses a highly advanced algorithm to determine when to enter trades and how long they should stay open for, you may still lose money. Binary options trading is risky, and there is no way to avoid that risk with one hundred percent accuracy, even with a top quality trading robot like this one.
Next, select a payment method. Pretty much all brokers accept credit cards, wire transfers from your bank account, and select e-wallet companies, like Neteller, Skrill, or iDeal.
This will vary a bit from broker to broker. The minimum that you deposit through your Binary Option Robot account will be dependent on what the minimum deposit that the broker offers. Once your account is set up and you have selected the proper risk amounts for your personal needs and comfort levels, then you only need to spend an hour or two a week monitoring things until you are ready to close out your account.
That hour or two is spent looking over the reports that will be generated so that you can confirm that the robot is still doing all of the things that you expect it to do. You want to make sure that you are not losing money , and that if your risk factors have changed at all, you are accounting for this in the proper way. There are a few easy ways that the robot allows you to control your risk.
One of them involves selecting a daily stop-loss point. Or, if you want to limit the number of trades made per day, you can set a limit here, too. If you want to ensure that no more than 15 trades are made in a given day, you can set this limit so that your account is protected in this manner, too. Binary Option Robot requires that you use a binary options robot to make your trades through.
When you are creating an account with Binary Option Robot , you will be required to select a broker with which to do business with. A separate account will be created for you through the broker. This robot selects only the best and most reputable brokers with which to do business with.