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What is Binary Options Trading? Analysis of Features, Benefits and Pricing
IQ Option No. 1 Software
Binary options trading is a form of trade that offers two options – either the price of a particular asset goes up or down, and you have to guess which direction the price moves in a specified time. It first came as an over-the-counter trading system in bourses and stock exchanges. The Internet has ushered in its widespread popularity starting in 2008.
Even if you are not a market trader or financial specialist, you may have already heard of binary options simply because of its phenomenal growth. Although binary options has long been in existence , it wasn’t until the development of online platforms that binary options trading became popular.
Assets here may refer to major currencies, commodities, stocks, and indices that are freely traded in the world market and national exchanges. What is binary options trading but a type of investment; a financial instrument where you place a certain amount/investment on a particular asset and if its price goes to where you predicted it will be, you get your payout – your investment plus the promised percentage earnings offered by the broker. You’ll be using the services of binary options brokers which will provide you the trading platform and tools as well as any other assistance that you may need.
Sounds easy, right? It is, but you will be forewarned by binary options brokers themselves that this type of trading carries a high level of risk and may not be suitable for all investors because there is the real possibility that you may lose all your invested capital. Binary options is also called an “all-or-nothing” trading because if you make the wrong prediction, it’s goodbye to your investment, all of it. While some binary options brokers return a small portion of your investment even for losing trades, you’ll still be advised that you should never invest money that you cannot afford to lose.
In this article, we’ll examine the many aspects of binary options trading, including the following:
What Does Binary Options Trading Do?
What is binary options trading but a means for you to earn more. The purpose of binary options trading is basically to give you the opportunity to profit off your investment in the right and legal way. There are several common attributes and features of binary options. Understanding them will answer the question – what does binary options trading do? Here are 6 aspects to know before taking part in binary options.
- It’s simple. Binary option is a simple financial product which allows an investor to determine the future movement of an asset’s price which is just one of two directions – up or down.
- Underlying assets vary. Assets can be world currencies (USD, EURO, AUD, etc), stocks (Google, Microsoft, Apple, and many others), commodities (gold, silver, oil, agricultural produce), indices (index funds, futures, other derivatives), and lately cryptocurrencies (Bitcoin, Litecoin). Some brokers can offer you hundreds of assets that you can trade in.
- Trading is fast. Short-term timeframes can be as little as 30 seconds or 60 seconds to work your traded amount. This is riskier although you can make money quicker since you can trade multiple times in a day. On the other hand, you can opt for longer timeframes (minutes, hours or even a month) which generally gives bigger payout.
- You need a broker. You need a binary options broker so you can open an account with them, use their trading platform, avail of their tools (demo account, historical charts), and rely on their customer support and services (i.e. payment processing, withdrawals).
- Payouts vary. Payouts for correct predictions differ from broker to broker but are usually in the range of 70% to 90%. This means that if you place a trade for $100, you get $170 or $190 in return. For a wrong prediction, you lose all. Now you know how vital it is that you hone your skills and learn to make the right predictions which we’ll tackle in the next sections.
- Go for legitimate brokers. A most important reminder when it comes to choosing a binary options broker – get a legitimate one. A highly popular trading mechanism used by millions of people worldwide is bound to produce fake, fly-by-night brokers out to dupe unsuspecting investors. And there are many of them out there. Be fastidious in your research and background check to see, among others, if the broker is licensed and regulated by the proper government authority; has a professional and modern website complete with relevant information (office address, contact numbers, email); offers several payment/withdrawal methods (payment gateways, credit cards, wire transfers); boasts of having received awards and honors; and generally have good feedback/comments from users and clients. All these you can search online. If you find red flags, stay away. You’ll be entrusting your investment; hence it is paramount that you transact only with a real and reputable broker.
Why Use Binary Options Trading?
After reading the preceding section on what binary options trading do, you might be prompted to reply – why not? We’ll reinforce that positive response by showing you the distinction between binary options trading and conventional day trading or investment in forex and stock trading. Later in the article we’ll enumerate the advantages of binary options. But first, why use binary options trading? Why not invest in traditional trading? The two are different as far as the following are concerned: risk factor, profitability, assets handling, sustainability, and the learning aspect. Let’s go over each.
- Lower risk. Every investment using a financial instrument carries with it some risks; the levels just vary. In traditional trading, wins and losses are dependent on the rise and fall of the value of an asset. You can lose a considerable amount of money when that value drops significantly or vice versa – profit big if the value rises to a great degree. Either way, you won’t know beforehand how much you’ll win or lose. It’s the other way around with binary options trading because you can tell in advance how much you’ll win or lose since you have put in a particular amount you’re willing to risk before you commit to a trade. If you placed in $100 for a 70% return, you know you’ll get $170 for a right prediction and nothing for a wrong one. No surprises with this trade since you know the risk you’re willing to go through.
- More profitable. Both types of trading can be profitable to a seasoned investor who relies on experience and expertise. The edge of binary trading is when it comes to payouts. As you’ve learned earlier, the rates of payouts differ per broker; some can even give you 100% or more which means double the amount of your investment for a winning trade. In regular trading the profit rate can be up to 20%, and that is if you’re lucky. This means that in traditional trading you have to buy and sell very large number of assets or by volume if only to realize more profits. According to a 2020 Optimove statistics, binary option traders have a conversion rate 34% higher than forex traders.
- Simpler assets handling. This is a major difference between binary options trading and trading in forex or stocks. In the former you simply make a prediction in the price movement of an asset you choose while with the latter you need to buy assets and sell them later when their price appreciates in order to generate profits. You can see here that traditional trading is quite more complicated when it comes to how you handle assets.
- More sustainable. The time it takes to profit from your investment is very much shorter with binary options than with conventional trading. With short term trades in binary options, you have seconds, minutes or a few hours to generate substantial income if you come up with the right prediction. That is not the case with stock trading. When you buy stocks, you might have to wait several days or weeks for its value to inch up even just for a small percentage before you are able to sell to make a little profit. Just to compensate for that you have to buy in large volumes to make a bigger profit. Not so with binary options; you can sustain your earnings with smaller amounts and more frequent trading, and profit in shorter time.
- Easier to learn. The simple mechanism in binary options trading makes it easier to understand. You just predict the movement of an asset which, by definition of binary options, goes to only one of two directions. You can increase your chances of making the right predictions by going over historical movements of such assets, determine and anticipate events that affect their movements, and find patterns and trends that influence asset prices. Previous data can easily be provided by the broker and trading platform which you can study and analyze. Traditional trading is much more difficult because aside from predicting the movement of an asset you also have to asses the size or volume of the movement or else you won’t be able to make any profits. When it comes to money matters, you’re better off with a more straightforward system.
GTOptions: Uses the popular SpotOn trading platform that features several trading tools.
Best Binary Options Broker 2020!
Ideal for beginners!
Free Demo Account + Free Trading Education!
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How Does Binary Options Trading Work?
As we’ve pointed out earlier, binary options have only one of two directions to go – up or down, or “high/low” which is one of the most popular options. You can get it right or you can get it wrong. There is no middle option. So how does binary options trading work? In its simplest, it goes like this with the broker and their online trading platform:
- Open an account. You open an account with the broker company. Some will require you to put in a minimum deposit while others will let you first open a demo account so you can practice trading with virtual currencies or credits.
- Start trading. When you already have an account you can start trading. With a demo account, you can choose to upgrade to a real trading account. You can then choose an asset and then predict whether its price will go up or down.
- Know your earnings. Before you commit money to the trade, the broker will show you the percentage amount that you will get in case you make the right prediction.
- Know the risks. You select the amount you want to risk (there are minimum and maximum amount you can put in) and the timeframe within which to work your trade which can be short term (30, 60, 120 seconds) or long-term (3, 5 minutes or longer).
- Wait. Once everything is accounted for, you click on a button to lock in the trade then wait.
- Withdraw your winnings. When you hit it right within the timeframe or expiry period, you get what was promised you by the broker which you can withdraw and deposit to your bank account using whatever payment/money transfer method is available.
- Or lose. If you make the wrong prediction, you lose your invested amount and you can start all over again.
When you think about it, the risk essentially lies with you and a volatile market. You may not be able to restrain yourself and put in bigger amounts without the use of better judgment and the tools made available to you by the broker to mitigate the risk. When your mindset goes into “gambling” mode and not think of binary options as a true investment opportunity then you’re setting yourself in for sustained losses.
You can discipline yourself but a volatile market is something you can’t control. The good news is that you can have enough information and data on how major currencies and prices of stocks and commodities behave in the market. Analyzing them can hone your trading skills and strategies, and prepare you to make more accurate predictions. That is the mark of a true investor.
OneTwoTrade: Offers more than 350 trading assets and 5 trading options.
Advantages of Binary Options Trading
The advantages of binary options trading are many as you’ve learned from the earlier sections. And one of the biggest edges that you get compared to other trading types is that you have readily available information on how trading with a particular asset can likely end up. You know exactly how much is at stake (your trading amount), how much you stand to gain (investment plus percentage if you make the right prediction), the risks involved (you may lose everything with the wrong prediction), and how long it takes to make a profit – or not – from your investment (timeframe you chose). Given all these, you have the following advantages with binary options particularly with your trusted broker and their online trading platform:
- Simplicity. Trading with binary options is literally just a click away.
- Accessibility. Since it’s online, you can trade from any internet connected device. With mobile apps provided by brokers, you can trade on the go.
- Control. Even before you make your first trade, you already know the possible outcomes. The risk and rewards are known so you have better grasp of your next move.
- Convenience. No need to be bogged down by details such as exiting trades, putting orders, monitoring positions, and the like; your broker and trading app can take care of that.
- Hassle-free. There are no liquidity concerns since you do not own underlying assets which allows your broker to offer numerous strike prices and timeframes, giving you lots of trading options.
- No commissions or fees. Brokers generally do not charge commissions or fees for winning trades.
- Multiple assets. Investors can select from a wide range of assets to trade in with some brokers offering hundreds of them.
- Trade as much as you like. With short term options, you can trade numerous times a day – as much as you can afford to invest.
- You can master it. You can study historical charts and analyze financial instrument quotes which usually come with the trading platform; you can be on the lookout for events that influence asset prices; try demo accounts to hone trading strategies; and just be wise, prudent and collected come trading time. You can be a seasoned binary options trader if you put enough effort in mastering it. After all, prediction is based on what happened in the past and it’s a skill that you can sharpen to your advantage and, in binary options, for your profits.
Stockpair: Trading platform built with the latest financial technology
Cost of Binary Options Trading
The cost of binary options trading here refers to the minimum deposit you have to make to open an account with the broker/company to start using their trading platform, as well as the minimum and maximum amount that you can trade (or purchase a contract/option as some brokers would call it) which will form part of your initial investment. The cost differs per broker but to give you an idea, here’s a sampling:
Note that many brokers allow you to start off with a demo account (with virtual credits/currency) so you can practice trading. You can then convert the demo account into a real money account by which time you are required to deposit a certain amount that you will use for live trading.
Examples of Binary Options Brokers
To give you an idea of the current landscape, here are some examples of binary options brokers.
- GTOptions is a relatively new player in the industry established in 2020 by Eufal Ltd based in Nicosia, Cyprus. It offers several types of binary options such as Option Builder, One Touch, High/Low, and 60 seconds, with more than 70 assets that you can trade in. Payout per trade ranges from 65% to 85% depending on the asset and option you choose and the trade amount. The broker requires a minimum deposit of $250 with a minimum trade at $5 and maximum of $3,000. It uses the SpotOption trading platform and offers tools such as economic calendar, trading signals, and daily/weekly market review.
- OneTwoTrade operates out of Malta and also utilizes the popular SpotOption trading platform. It offers over 350 trading assets and five different trading options – Classic, Short Term, Long Term, Pairs and One Touch. Minimum deposit is $250 and payout can reach up to 80% of your investment for correct predictions. The broker offers four types of accounts and traders can avail of a variety of promotional deals and offers. It supports a number of deposit and withdrawal methods such as credit cards, bank transfers, e-wallet, and payment gateways.
- Stockpair offers its own in-house trading platform that has an array of tools and features to help both new investors and long-time traders. The platform is built with the latest financial technology to ensure the trade reliability, fund security, data transparency, and information privacy. It also has technical analysis charts to assist traders in financial business intelligence, and market forecast and assessment. The broker is based in Cyprus and licensed by CySEC. Its minimum deposit is $250, offers payouts from 75% to 80%, and has no limits on withdrawals.
- GrandOption provides binary option traders with the Tech Financials trading platform. While it is unlike most trading platforms offered by alternative binary options traders, Tech Financials features a wide interface with a customizable trading chart and allows traders to manage multiple trades while at the same time review their trading history. Also, the Tech Financials platform is easy to understand and use with built-in features such as informative price charts, dashboard with price history, traders choice bar, and technical analysis indicators, among others.
Automated Binary Option Trading Software Review
Understanding the basics of binary options trading and how it works will enable you to make more accurate investments when trading online.
Binary options are recently introduced investment vehicles that provide an opportunity to the traders to earn huge profits. These options can be traded in a simple and straightforward method allowing all the individuals to invest in these financial instruments. For investing funds in binary options, the traders are not required to have any experience or specialization as binary option trading is easy to learn and the traders can easily enhance their profit potential by investing in these options. The novice traders often try to find out about how binary options works in order to get all the information in options trading.
The working of binary options is very simple and the traders can easily understand it. No matter if you are an experienced trader or a beginner; you can easily understand the trading process and various strategies which are used in the process. Binary options works on a basic concept that involves the prediction of the price movement of the assets within a predetermined time frame. If your prediction is correct, you will win the money and if you are wrong, you will lose your investment. Simple as that.
Binary options are traded using a trading platform that offers a wide range of trading tools as well as features. The most important thing on which options trading is based are underlying assets. These are the financial instruments which are traded in the options market and include currency pairs, stocks, indexes and commodities. The price movement of the asset at the agreed date and strike price determines whether the trader wins the trade or losses the trade.
Option trading works on two basic options. These are call options and the put options. When the prices of the underlying assets are expected to go up, the traders are advised to purchase call options. If the prices are expected to fall below the strike price, the traders purchase put option.
In order to trade binary options successfully, the traders need to evaluate the market and make sure that the asset in which you are investing your funds will move as per your prediction. The next important thing to consider is the strike price and the expiration date of the asset. You need to make sure that these values provide the best results. The traders can also use the software provided by the binary options broker to get the best options for strike price and expiration period. If the assets show the predicted price movements, the traders win the trade and earn huge benefits.
This was all about binary options how it works. You can go through this article in order to invest in options more effectively and also join forums so that you can get help from other traders.
Automated Option Trading Software Review
Over the last couple of years, there have been some innovations in the binary options industry, these innovations aim to make trading easier and less tedious. One such innovation is auto trading software or binary option robot as they are commonly known. These binary option robots are programmed to do technical analysis, create option signals, and execute trades faster and with more accuracy than any human system, without the trader having to leave his seat or bat an eye. Unfortunately, most of the super-hyped and promising ones are outright scams only interested in making your wallet lighter. However, there are a few good and legit ones, the many scams have given auto trading software such a bad name the traders don’t know what to believe and what to stay away from, many have even sworn off trading robots completely. It is our duty to inform you, so that you will be able to make informed decisions (see what I did there?) and keep your money for longer. This review delves deeper into Option Robot and presents you all you need to know. No sugar coating. No bias.
How Binary Option Robot Can Change Your Life? Check This Out!
TABLE OF CONTENT
How to Make Money with Binary Option Robot
Top Binary Option Robots in United States
Claim your free binary option robot, get started with three easy steps:
- Name of Robot
- Min. Investment
- Min. Deposit
1. Your Binary Option Robot will analyse the market and decide, which asset (currencies, indices, commodities and stocks), is right to trade at that point in time.
2. The Binary Option Robot Will Predict the Price Movement
Your robot will assess a wide-range of factors, and then make a prediction on how the assets price will move, saying: Call (up) if it believes the price will rise and Put (down), if it believes the price will fall.
3. Decide on how much you want to Invest
Then you need to decide how much you want to invest in the commodity and when that investment will expire.
4. Collect your Earnings
Finally, you collect your earnings (the good part!)
Get the automated option robot trading software for free by clicking on the button below and learn how you can make money while you sleep!
Automated Option Trading Software: Option Robot
Option Robot Auto Trading Software.
Option Robot is recently introduced automated trading software designed and developed by expert traders with vast experience in Forex, binary options and derivatives trading. It is developed with a view to helping traders get the most out of their trading with little effort or experience necessary. Option Robot offers trading signals with winning rates as high as 83% and the best binary option brokers (such as IQ Option) in the world to choose from. It is free web based software meaning no download is necessary and it offers fully customizable features that give the trader ultimate control over what the software does. All these factors combined have increased the popularity of Option Robot making it one of the most preferred auto trading software systems in the world even above older and more established software. It is very unfortunate that US traders are not currently being accepted but the developers have given an assurance that plans are underway to include a US based broker in the near future.
Licensing and Authorization
As of yet, there is no regulatory or licensing body for automatic trading software which is the main reason why scams and crooks have infiltrated the market and are able to cheat traders with impunity. Option Robot is not regulated under any jurisdiction but that does not mean it is a scam, almost all of the brokers on the site are regulated, some even by two regulatory bodies such as the renown CySEC from Cyprus and the FCA from the UK. So the secret here is not to check Option Robot’s license(s) but to choose your broker carefully because after all, it is the broker who you’re going to deposit your money with.
Like many brokers and software, Option Robot is not legally allowed to accept clients from the United States. This is because they are not registered and licensed by the Commodities Futures Trading Commission (CFTC), as this is no walk in the park it is pretty understandable.
Features of the Option Robot System
Option Robot, being software doesn’t have any trading platform of its own, instead using the ones used by its compatible brokers, which range from the popular SpotOption to the new and catchy TradeSmarter. Moving on, there is much more to Option Robot which attracted our attention, including:
While the brokers in the Option Robot system may have diverse asset indices, the robot only executes trades on currency pairs (such as EUR/GBP, EUR/USD, USD/CAD and GBP/USD). In this case the software predicts for you which of the given currencies will outperform the other at the close of the trading period. Currency pairs are a great asset type on their own but we feel the site would appeal to a wider audience if the asset index was diversified to include commodities, stocks and major world indices.
There are six different indicators that are used to generate signals for trade execution. A trader can choose one, two or even all of the indicators depending on the desired signal quality. The indicators are:
- Trend – As the name implies, this indicator analyzes the general price movement in the market. If the general trend is a downtrend which calls for a “put” option, the indicator generates a “put” signal and the same applies for a “call” signal. 1
- RSI – Also known as the relative strength index, the RSI is basically an oscillator undulating between 0 and 100 with extreme levels at above 70 and below 30. For levels above 70, the market conditions are overbought and the price will likely go down therefore a “put” signal is generated. Levels of 30 and below indicate oversold conditions with a high likelihood of an upward movement in price thus a “call” signal is produced. The RSI indicator is very popular and widely used in forex and stock markets, it was introduced to binary options just a couple of years ago. 2
- Williams – This indicator, invented by Larry Williams is very similar in overall design and concept to the RSI and it is easy to confuse the two. The Williams indicator is also an oscillator ranging from 0 to 100 with overbought levels at 80 and oversold levels at 20 and below. Normally, levels above 80 shows the maximum price and buyers will not continue buying at the same price and therefore the price will fall. The best option here is the “put” option. At the oversold levels, the sellers are exhausted, with the price most likely to rise, thus a “call” option. 3
- MACD – Standing for moving averages convergence divergence, this indicator compares the similarities and differences between two or more moving averages and their past behavior to come up with a signal. High accuracy is often achieved when this indicator is used alongside the trend indicator. 4
- Stoch – This is short for the stochastic oscillator which was invented by Dr George Lane especially for forex trading, but who said we can’t use it in binary options too? Being an oscillator, this indicator moves between 0 to 100 to determine the price momentum and velocity in relation to the same asset over a given period of time. 5
- CCI – The commodity channel index is an oscillator varying between 100+ and -100 in determining price movements. Generally, strong trends (those above 100) will indicate a continued rise in price which will call for a “call” signal, while weak trends (those below -100) show fluctuations thus a “put” signal is produced. This is however not to say that the price can only move above 100 and below -100, what happens mostly is that price levels tend to average between 100 and -100 with the market quickly adjusting to such. 6
The indicators produce signals from their own analysis which is then transmitted to the trading software at light speed to execute the trade. Note that this only happens in auto trading software and is the main distinguishing factor between manual and automated trading. In manual trading, the signals are sent directly to the trader through text, email or another specified medium and the trader then decides what and when to trade, sometimes the signals may be invalid by the time the trade is entered leading to a loss. So, as a trader you need to be sure of the validity and expiry time of the signal you want to use to avoid entering a trade the wrong way and thus losing your investment.
Some of the recent signals
Another important thing to note is that Option Robot has an excellent way of making sure the signals produced are as accurate as they can possibly be. If two (or more) indicators have been selected, they both have to give the same signal result for a signal to be generated and sent to the trading software itself. This means, if you, for instance, selected the RSI and trend indicators, for a “put” signal to be generated they will both have to indicate the same that is, “put”. The same goes for a “call” option. Otherwise for contrasting signals, no signal is generated and consequently no trade is entered into. This is a great way of ensuring the signals are of high accuracy with little margin for error, and maintain the winning rate at 83% or higher.
One great thing about Option Robot is that they have a lot to offer in terms of brokers, and it is not all about quantity, all the brokers here are tried, tested and proven to be market leaders in their own way. The list of compatible brokers from which you will be able to choose includes:
- Banc de Binary
- Big option
- Binary Tilt
- Binary Book
The list goes on and on, for the full list, visit the website. Simply put, these are some of the best and most popular brokers across the world, with brokers like Banc de Binary and OptionsXO having been in the game for close to eight years now. Sites like Tradorax and StockPair are rising as well and have gained a lot of popularity in the short time they have been around. Whatever the case, true character is reflected by the company you keep, or so they say, and here we can confidently say that Options Robot is in good company.
The genius minds behind Option Robot designed and gifted us with three bankroll management systems to give you control over your investments and the degree of risks you are exposed to. These systems, which we are going to call trading systems as per the site, are not that new and they are not presented as such. Traders with some background in Forex or stock trading may have come across these, or systems very similar.
The classic system is the simplest and safest system of all, and it’s no surprise that most binary options robots use this system. Generally with this system, the amount invested in every trade is constant, whether the trade is a winning trade or a losing trade. You can’t lose or gain more than you have invested. For older, more settled traders, this is the system to choose.
This system holds the most profit potential but also has the highest risks and is mostly recommended for people with deep pockets. With this system, if your first trade was a win, the same amount is invested in the next trade and so on. If on the other hand it expired out of the money, the investment for the next trade is doubled. If that trade is also a loss, the investment is doubled again for the next trade. This goes on until profits are realized which is all a matter of luck.
The Fibonacci System
This is the most technical but also the most accurate system. It follows the Fibonacci number sequence where every consecutive number is derived by adding the previous two numbers. The investment amount for a trade is determined by the preceding one, if it was a win, the amount is reduced back to the original figure again. In case of a loss, the amount keeps increasing per the sequence until a hit is achieved.
Option Robot offers their traders a demo account, and they ought to. Basically, a demo account is an account identical in design and features to the other real account types and is involved in trading just like a real account. However, with a demo account, you are not required to deposit any real money and thus you are exposed to zero risks. Because of this demo accounts are well liked especially by new traders and, also to a large extent, traders who want to try a new trading platform or software like Option Robot. The presence of a demo account here and all the learning opportunities it presents, undoubtedly appeals to traders from all divides.
It is however not as free as it may appear. The fact is, and Option Robot don’t want you knowing this as it will be bad for business, you can only get access to the demo account if you have opened an account with Option Robot and one of their several affiliated brokers. A dark lining to a seemingly bright idea. Nevertheless, signing up is free and you don’t have to make any deposit to get access so that should not stop you if you want to try out the software.
Disappointingly, there are limited ways to contact and get assistance from customer care. Email inquiries can be sent to [email protected] and a customer care agent will look into your inquiry or complaint and get back to you ‘shortly’. You know very well what that usually means. The other way is to fill the contact form to be found on the site and include your contact details to enable support to get in touch. And that’s all. Well, except that you are advised to first check the FAQ section for the answers before sending the email or completing the form, this is due to the “large number” of emails they receive per day which may force you to wait some time to get a reply. Hearing this, you can’t help but think if only there were other means to get in touch like a phone number or live chat the number of email would drop.
Educational materials, or lack thereof
Being for the most part a signal provider and trading system, it would be unfair to burden Option Robot with the responsibility of promoting education to their clients. This is the duty of the brokers, no doubt. However, Option Robot is a new robot and not much is known about its trading process and how to get the best out of it. We expected to find several videos, eBooks and tutorials with more information on auto trading in general and the operations of Option Robot in particular, but we got very little of that. Apart from a semi active blog and the mandatory FAQ section, Option Robot have close to nothing to offer you in terms of education, you are far better Googling information on your own.
Pros and cons of using the Option Robot software
The following are the reasons or features that make Option Robot great software you should try:
- Well designed website
One of the ways to know a real and professional broker, especially in the murky waters of binary options, is by having a look at their website. Looking through Option Robot’s site, everything appears nice and well placed. For one there are no (stolen) photos showing moneyed individuals or anything to that effect, which is probably for the best. We all know that most of these pictures are stock images of random people or photoshopped celebrity images picked from some gossip e-mag. Everything on Option Robot’s site is put forward in a clear manner and all the tabs are such that you won’t spend extra effort getting to what you want. There it not a lot of information but at least Option Robot made the effort and took the time to make their site client friendly and decent, and in all honesty effort is always rewarded.
- No false promises
If you look through most of the binary options brokerage sites available, you will note one common feature on a large number of them – promises of making lots of cash per day, going as high as $1500 per day. Clearly, that’s ridiculous. As a matter of fact, if that was true we would see an influx of people to binary options and even have one or several legit millionaires who made their millions through trading. The fact that none of that has happened yet shows that all those promises don’t hold any water, and judging by their simple promotional approach Option Robot knows this. The site is admirably short on promises, which we know are false anyway, and instead focuses on how the trader can utilize the system for the best results.
- Details about the software
Option Robot, different from most of the current trading robot sites, has quite significant information on how to customize the system and the various customizing options available like the trading system and indicators. Add that to the blog and FAQ section and you are sure not to miss out on any information you will need. This shows that the developers actually want you to benefit from the software and have made efforts to ensure that.
- Free software
Option Robot trading software is free and completely web based, you only need a working internet connection to access, register or keep track of your trades. There are no known monthly or annual fees for using the software which needs no download and can be accessed through any phone or PC with internet. This is great news for us who would not pay a penny for software we know next to nothing about. The big let down here is that the system cannot be accessed offline as is the case with the latest software like Binary Option Robot.
- The best brokers
Be assured that the brokers you will find on Option Robot, as mentioned elsewhere in this review, are top notch and the most used across all auto trading software. When trying to determine if a trading robot is reputable, we look at the caliber of the brokers they offer and we can truly say that Option Robot has passed this test.
The following facts about Option Robot will make you a little more cautious or may even put you off altogether, it’s your call really.
- Track Record not yet proven
As much as we are intrigued by the amazing features and awesome signals, the bottom line is that Option Robot is relatively new to the market. The claims remain largely unsubstantiated which makes Option Robot rank a bit lower in our preference list, giving way to older and more proven trading software. However, looking at it from another angle, this is as much a blessing as it is a curse. For one, the lack of a proven, or unproven record raises curiosity and makes more people want to try it out, which is free anyway. Either way, a track record is important as not everyone will gamble with their money.
- Only one type of asset
Perhaps the single most disappointing thing about Option Robot, with all its pros, is the fact that it trades only in currency pairs. This is surely going to turn away the majority of traders who prefer other types of assets like commodities, indices and stocks. We agree and commend the team behind Option Robot for specializing in a niche but this is not the area to try it for a new and growing firm. It has been proven time and time again that, all other factors observed, traders will most likely use the asset index of a broker or auto trading site as a basis for differentiation. Furthermore, international traders would be more interested if their local indices or stocks are available.
- Only new accounts are allowed
In what is a very bad business move, to sign up with Option Broker you will need to open a new account. That is, after signing up on the software, you will be required to select your preferred broker and open a completely new account to start trading. This means in simple language that if you have an account with one of the listed brokers, it will not work with the software as it will only accept broker accounts opened through its portal. On the flip side, new or experimenting traders will be fine with this. We can’t judge them, as it’s all a matter of personal preference but we speak for the majority.
- No information on developers
Whether due to ignorance or omission, we just can’t quite understand why there is no information whatsoever given on the parent company or developers of Option Robot at the bottom of the page as is usually the case. This is sure to raise some eyebrows especially with the hawk-eyed and curious traders who have predilections for the nitty gritty. For starters, there are some questions that arise here. What do the developers have to hide? Most importantly who are the developers and what are their intentions? For now, those questions and many others remain unanswered, for how long only time will tell.
Opening an Account and Getting Started
If after reading all that and weighing the pros and cons you decide to sign up with Option Robot, the process is as simple as just giving a few personal details – name, address (both physical and email) and that’s it. As a requirement, you must select the broker you want your trades to be linked to. You will be redirected to the broker’s sign up page where you will complete the registration and make the initial deposit, the minimum of which depends on the particular broker. However, as a guide, all the brokers will require a minimum of at least $250. These deposits can be made through bank wire transfer, credit or debit cards, or using various other available online payment systems like Skrill and MoneyBookers. For bank wire transfer, you are advised to check with your bank on the charges beforehand to avoid any misunderstandings.
After setup, to start the auto trading process, click on the ‘Auto Trade’ tab and the software will know what to do next. For a better experience, customize your trading options by going to ‘Settings’ and follow the prompts to select, change or remove indicators, set your investment amount per trade or select the trading system you want the system to follow when executing trades for you. With this, you are all set to go. Correction: the robot is all set to go for you! You can rest comfortably and check in after some time to collect your earnings.
It is rare to see software with this kind of freedom in customization and you have to give props to the (presently) anonymous brains behind Option Robot for the idea. For the traders, they will surely love the fact they have control over the software and not the other way around, as is the case with most of the backstreet and substandard robots in the market.
Possible setting for each option robot broker.
Reviewing Automated Trading Software
Everyone loves little extra and the love multiplies when it comes to making extra money. The financial instrument trading provides a great opportunity to make that extra money and with the advent of Automated Trading Software, you can make that little extra even with little efforts. Currently, there are several automated trading software available which caters to a variety of assets trading including stocks, currencies, and the binaries.
In laymen’s terms, the automated software is nothing but a software algorithm that is able to trade on behalf of you with given set of settings. The automated software needs to be connected with the trading exchange or a trading platform to execute the trades. The right platform with an automated software executes trades on behalf of you which include identifying the underlying with a high probability of winning, placing an order, and closing the trade.
This automated trading software allows you to set specific rules and from thereon, they execute the trades according to the set parameters. The trading happens in a real-time and is often quicker than the manual trading, allowing you to have higher winning percentages. The designated software can be used for a variety of assets including stocks, indices, currency pairs, and commodities.
What To Look From an Automated Trading Software?
While signing up for an Automated Trading Software, you should look out for certain things and conduct a thorough research before you commit yourself with real money. Almost all the Automated Trading Software are available through the web browser and it does not require you to download the software.The Automated Trading Software should be compatible with your preferred broking partner otherwise; it will not make sense.
The professionally developed software are designed to give you ease of access and ease of trading to cater to beginners as well as the seasoned professionals. The software should be able to provide complete transaction control and it should operate on the specified parameters. The most important aspect of the research on the Automated Trading Software, is to go through online reviews and blogs related to binary trading which provides unbiased opinions on various software and brokers.
As the trading is carried out for making a revenue stream, you should look out for any hidden cost associated with the Automated Trading Software, its winning ratio, and its association with the well-regulated brokerage house. In order to support you in your research on various Automated Software, our website can be a very useful resource as we conduct reviews of brokers and software on regular basis as well as update them frequently with the latest update to provide you up to date information.
Spend sufficient time to research the most suitable Automated Software which best fits your requirements. Following table provides you a bird’s eye view on five Automated Trading Software which are topping the charts.
Automated Trading Software Review Table
Option Robot Automated Software
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The Automated Binary
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The Real Robot
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Benefits of Using The Automated Binary Software
Investment in the Automated Trading Software offers several distinct advantages over a manual trading. It not only shortens your learning curve; it also helps you to use the expertise of the professional traders to your benefits. The Automated Trading Software provides you to spend less time on trading and more time with your loved ones. The following text enlists some of the key benefits of the Automated Trading Software in the binary trading.
- Allows you to automate your trading: The most prominent advantage of the automated trading software is that it literally allows you to earn profits while you vacationing with family. It is a well-known fact that trading can be a profitable business, but our busy lifestyle doesn’t give enough time to learn, evaluate and executes the trades. Trading requires an up to date information regarding the market, the underlying, and other factors to make it a profitable business. Even though the trading is considered as a profitable business venture, the shortage of time makes it even difficult to try.
With 5-minute settings on the automated software, helps you make trading as a revenue generating stream even without spending too much time on it. This is one of the prime advantages of using the automated trading software.
- Make profit from the beginning: Newcomers are required to spend considerable time and energy into learning the technical and fundamental analysis in order to be a successful trader. The process of learning these aspects can take several years to master and this makes it even more difficult for the beginners to taste the profits. By investing in the Automated Trading Software, you can avoid this long and painful process. The automated trading software allows you to utilize the expertise of the seasoned professionals to your own advantage and make winning a habit right from the beginning.
- Emotion free trading: The trading requires lots of perseverance and practice to excel, however, the traders get carried away by hunches and own feelings. Traders tend to develop a strong feeling about a particular underlying if they have made profits on few trades in that specific underlying. This makes them trade that particular underlying again and again until they finally get trapped and make huge losses. So, a successful trader can only become successful if he is able to remove emotions from his trading.
The automated trading software once set, completely removes the emotion part out of the trading and consistently executes trades on several underlying. This way it helps to keep a safe distance with the emotions while trading.
- Can trade without tiring: Trading is very exhaustive and also can be very tiring after a certain period. The binary options trading also takes a considerable amount of time of the trader, creating a work-life imbalance. The trading software also helps in this scenario, as it is inhuman to all-day trading and can provide you with a spare time to spend on your favorite activity. The robot doesn’t get fatigued from long working hours, and hence able to trade for long hours.
- Able to track several assets at once: The trader trading for one hour a day will lose several opportunities presented in the remaining 23 hours. An automated trading software working on behalf of you will be able to track several opportunities at once and will be able to make rational decision to place trades on the probable winning opportunities all day long.
Overall, the automated trading software takes the rules from the human brains and translate them in the algorithm which can consistently perform on a set of parameters without tiring and without carried away by the emotions. The automated trading software makes the life of a trader easier and more enjoyable.
After completing the registration and set up process, it will be time to enter your first trade, with the help of the robot, of course. Being fully automated trading software, Option Robot receives the signals from the indicators and immediately uses them to enter a trade without any signal being sent to you. That is the reason they are called auto trading systems or robots.The minimum investment per single trade is set at $5 to make it easy
In all honesty, despite a few hiccups here and there, you can’t argue with the fact that Option Robot is one of the best binary options robots in the market today, and it has the potential to do even better.
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