BinaryOptionRobot.com – An Honest and Upfront Review
Many of you reading this will be looking for a helpful tool to make binary options trading far easier. For you and many others, binary option robots are certainly one possible solution. Here we’ll be looking at one of the most popular brands. After you’ve read this BinaryOptionRobot.com review, you’ll be in a great position to decide whether it’s a viable option for you.
First impressions of BinaryOptionRobot.com
We found the site very impressive as it’s very easy to use and has a number of unique features. The great thing we found was that there is no need to be actively trading in order to take advantage of this software, as it will do it all for you even when you’re offline. Correctly configuring the software means a maximum number of trades can be set on a daily basis, the amount of risk can be limited, as well as the maximum daily loss that would be acceptable.
BinaryOptionRobot.com Has an Easy Set up Process
Using the software provided by BinaryOptionRobot.com is extremely easy. Even the most inexperienced trader will have no problems setting up an account. Only a few personal details are required, and you’ll need to decide on the broker you want to use. After that you will have to decide on the level of risk and input it together with the amount of your deposit.
A useful feature is the tutorial is always available to review, and there is access to a live customer service chat to offer immediate help with any problems. As soon as you’ve set up your account everything is good to go. No time is wasted with a download or worrying about installing regular updates.
How Does the Software Work?
Binary option robots use a sophisticated algorithm to compare an infinitesimal amount of historical data in order to predict what will happen in the market. Signals are generated by professional binary options traders, and when a money making opportunity arises the robot seizes the opportunity, swiftly and unemotionally. Apart from that there is very little else to understand, and there is a possibility you’ll make significant gains. The website provides loads of technical stuff, but it’s not necessary to understand it all before putting the tool to use. We should point out, however, that trading binary options is a risky form of investment, and there is always the risk of blowing everything in your trading account. Which is why it is sensible to minimize the number of trades and carefully select the risk level for your trades.
The Main Features Of BinaryOptionRobot.com
- You get to choose the size of your trades
- You set the limit for daily losses
- You choose the maximum number of daily trades
- You can select which assets you wish the robot to autotrade
- Multiple brokers allow the use of BinaryOptionRobot’s software, including 24Option, Banc De Binary, and Finpari
- There are 27 Forex pairs to choose from
- It’s completely FREE, although there is a VIP account which is a paid service, but offers added extras
- Fully automatic and much faster than a human
- Compatible with all mobile devices
BinaryOptionRobot Offers Flexibility
A big strength of BinaryOptionRobot is there is no need for a download, and the software used is a little out of the ordinary. Trading is done utilizing cloud technology, so even when your computer is switched off the robot will continue trading. However, there is the option to switch to manual trading if this is required.
BinaryOptionRobot offers 3 levels of portfolio management for VIP members. Whereas regular members are forced to use the default option, which uses signals generated by the brands’ experts. Figures published by various other review sites look pretty promising, with some stating a success rate of 78% and more. We’re still rather skeptical about these results, and would advise you to start small and assess the current situation for yourself.
There Is Plenty of Help for Newbies
As well as a very helpful FAQ section in the website there is also the option of contacting customer service for further clarification. There is a contact form, as well as a live chat option. Although we were a little disappointed they were only available live from 8.00am until midnight on weekdays, and until 6pm at weekends.
As with many things we’d advise you to start cautiously, and there are two additional features that will help. Stop-loss and reverse trading. A stop loss allows you to set the precise boundaries in relation to how much you are prepared to lose in the worst case scenario. Because after all there are no guarantees in binary option trading. This means you can reduce your overall risk.
Reverse trading is for those who believe that the robot gives false signals. It instructs the software to invest in the opposite direction to the robots instruction, although we wouldn’t recommend this course of action, it’s good to have it as an option.
A Word of Caution
When it comes to binary options trading, there are a number of pitfalls you can fall foul of. And one of them is picking a broker or tool that really doesn’t meet expectations. When writing this review, we found a lot of negative feedback, both from professionals, experts, and beginners. Some of it was really quite critical of BinaryOptionRobot.com. Binary option trading is a very risky form of investment, and there are a number of bad losers, who will do everything they can to discredit the competition. That being said, you should still take the time to read the latest customer reviews and feedback. Remember to take everything you read with a pinch of salt, and read information that backs both sides of the argument.