- Free to use - the company makes its money from compatible brokers in the form of a commission when users open an account via the Binrobot-Lady.
- Compatible with a good range of only CYSEC-regulated brokers.
- 3 default trading systems available.
- 8 indicators that can be combined for custom trading systems.
- Easy to use.
- Only works with 5 forex pairs.
- Customer support available only via enquiry form.
- Automated trade function could mean traders rely 100% on the robot and avoid employing personal judgement when placing trades.
Binrobot-Lady suggests the most likely winning trades with 87% accuracy
Bonuses do not apply to Binrobot-lady as any bonus programmes available to traders are via their binary options broker and not the robot software. The software itself is very well designed and easy to use. Heavy customer support should not be necessary due to the simplicity of the product but live chat or telephone support in addition to the enquiry form would be good. The robot only provides trade signals on 5 forex pairs. While this can be considered limiting it is also a good sign that the company restricts its signals to the instruments whose price movements it has demonstrated it has good rates of accuracy in predicting.
With the explosion of popularity in binary options trading it should not come as a surprise that auxiliary tools and services have also developed around this innovative and simple way to trade the financial markets. Binary options trading robots are one of the most popular additional tools that traders are making use of and there are now several products available on the market.
Binary options robots most commonly have two different major functions. The first is to provide ‘trade signals’, which are trade position suggestions based on the automated technical analysis that the robot does on the price trajectory of a chosen tradable instrument. The second is that they can be programmed to automatically open binary options trades on behalf of the trader on the basis of the signals generated.
With several binary options robot products available to traders, those interested to employ a little help in their trading strategy have a choice to make. We’ve tried to make that research process a little easier by covering the main qualities and characteristics of most of the robots traders can choose from. In this review, we take a closer look at Binrobot-Lady.
Binrobot-Lady was established in 2014. Because the company’s product is simply an aid to trading and no financial transactions actually take place via the software (the user uses the robot in conjunction with a binary options broker) there is not a great deal of information available on the company behind the software.
Binrobot-Lady’s software interface is nicely designed and laid out and even the most computer illiterate users are unlikely to experience any issues in navigating around it. Once users have registered a free account with Binrobot-Lady, the next step is to choose a trading system from among the three default options or to customise one from any combination of the six technical indicators available:
Technical indicators are based upon technical analysis principles. These principles predict market price movements based on mathematical formulae which find historically repeating patterns of price movements, which in turn are a result of market psychology.
The robot’s software will only pick out trade opportunities all technical indicators selected agree with, or the combination set by the default system. If a combination of three indicators are set and two suggest the price of an instrument will rise and the third that it will fall, the robot will not suggest the trade. If all six indicators are set then all six must be in agreement for the option to be suggested.
Once the trader has configured their preferred combination of indicators, upon which the robot will make its automated analysis, the trader chooses one or more of the binary options brokers Binrobot-Lady is compatible with. This choice will depend upon which broker offers the binary option formats and expiry times most compatible with the intended trading strategy.
Binrobot-lady has two trade settings. One is simply a signals setting and the trader must then open the binary options positions themselves manually. The second is an automated trade setting where the robot automates the placing of binary options when all programmed indicators are in agreement.
We would recommend that traders make use primarily of the first option and still make a final decision on placing trades based on their own judgement. The robot’s automated technical analysis is a real help for beginners who are not yet skilled in doing their own technical analysis and a great time saver for more experienced traders. However, traders should always make the final call when putting money on the line and robots are best used as a support tool and should not be considered as a ‘get rich quick’ magic formula. Professional institutional traders such as investment banks also use trading robots to help support traders but they don’t rely solely on such technology and the traders still make the final call. They use robots to highlight trade ideas for them to further analyse personally.
Binrobot-Lady is mobile friendly but via a responsive website rather than native mobile apps. The website and all functionalities are perfectly usable in small smartphone screen sizes and only users with eyesight impairments will find any major difference in convenience between using the robot via a desktop or smaller mobile device.
Trading Features & Fees
Binary options trading features such as different formats of options and expiry times depend upon the broker selected to be traded with rather than Binrobot-lady. As already mentioned, the main feature differentials of the robot itself are the trading systems that can be customised by combing the six available indicators. The three default systems are:
- The Classic System
- The Martingale System
- The Fibonacci System
The systems combine indicators such as Stochastic, RSI, MACD, Bollinger Bands, Moving Average, and others with the use of Pivot Points. Automated trading and manual execution of signals must be chosen between. If using automated trading, the trader must set the day’s maximum trading budget and trade value.
Binrobot-Lady is compatible with five different forex pairs. The company has chosen these five pairs as a result of their systems showing the greatest historical accuracy in predicting their price movement:
Currencies: EUR/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD
Binrobot-Lady works only with a selection of compatible binary options brokers, all of which are CYSEC-regulated for the EU, the strictest regulatory regime in the industry. At the time of writing, the robot is compatible with:
- Bank de Binary
- Bloombex Options
Traders open an account with their chosen broker(s) via the Binrobot-Lady site to syncronise the software with the broker. Traders should carefully review the trading conditions and payment methods of brokers before deciding which suits them best. Our brokers review section, which traders may refer to, contains information on all of the brokers compatible with Binrobot-Lady.
Bonuses & VIP programs
Bonus programmes and structures depend upon the policy of the chosen binary options broker or brokers the trader chooses to trade with rather than Binrobot-Lady. CYSEC-regulated brokers, the only kind the robot is compatible with, are restricted from offering any cash bonuses and bonuses therefore tend to come in the form of a few risk-free trades, where losses can be claimed back on if unsuccessful. Information on incentives will be found on the broker’s website.
Deposits and withdrawals
Deposits and withdrawals again go only through the broker and not the robot. Supported payment processing methods, minimum and maximum deposit and withdrawal values and processing times vary between brokers and is something traders should research before making a choice of broker to trade with.
Customer support for Binrobot-lady is relatively limited and consists of an enquiry form found on the website’s ‘Contact Us’ page. While it’s relatively unusual for software products, other than the very biggest, to offer telephone customer support, a live chat box would be a nice addition. However, the product is very straightforward to use and traders should not have any issues from a technical usability point of view. And because all financial transaction run through the broker, not the robot, the need for a significant customer support facility is further reduced.
Extra features and resources
Other than the fact that trading systems are customisable, the only real ‘extra’ feature Binrobot-Lady provides is an historical record of trading results. Users can download historical monthly reports showing highlighted trade ideas and win rate. However, it should be noted that we do not have any reliable method upon which to verify these reports.
Binrobot-lady is, used responsibly, a very useful support tool for binary options traders. Beginners learning the principles of technical analysis of financial markets price movements will benefit from seeing the trade ideas highlighted as a practical example of technical analysis being practically applied. More experienced traders will benefit from the time the robot saves them in doing their own technical analysis.
The software is nicely designed and easy to use and the brokers it is compatible with are all reputable and CYSEC-regulated. There is always a danger that traders overly rely on robot trading software and do not do their own independent analysis and their own judgement. However, that is not the responsibility of the software itself, which should be considered a tool and not a magic wand.
With that in mind Binrobot-Lady can be a great value-added tool to help traders in achieving consistently positive binary options trading results.
Is Binrobot-Lady a Scam?
No, Binrobot-Lady is a signals software. It automates technical analysis and provides support for traders. No financial transactions pass through the company and the trader always has the final decision on whether or not to place a trade based on the robot’s signals.
What is the minimum trading account deposit when opening a synced broker account via Binrobot-Lady?
How much does Binrobot-Lady cost?
Nothing, the software is free to use. The company makes its revenue through commissions from compatible brokers.