The Binary-Options-Robot is an auto trading software download I discovered the other day. The platform automatically places trades in your account based on a combination of signals and trading styles that you have some limited control over. The download is free and backed up by an 83% win rate. Of course, no prior knowledge of trading is required because this is pretty much just a black box. In fact, from what I found, they may prefer the newest of the newbies to anyone else. How does it work? All you have to do is sign in to your account and push auto trade. The software analyzes the market, calculates the live values of the indicator set, spits out a signal and automatically places it in your account.
What Do You Get With The Binary-Option-Robot
First, there are two versions, the free download and the $79 Pro version. The free version is a cut down version of the Pro but you probably wont need to get it, I’ll explain in a bit. Usually a paid version is a good indication of the software’s usefulness. It tells me that it has worth beyond attracting new sign ups for an affiliate marketing campaign. The Pro version is compatible with only three brokers, my first warning sign. This isn’t really a red flag, brokers are all different, it’s hard to make software work with multiple brokers. Of course I have also seen software that will work with dozens of brokers. The supported brokers are Stockpair, TopOption and SetOption. The platform has three styles of trading; Classic, Martingale and Fibonacci. It comes with 5 indicators; Stochastic, MACD, RSI, Williams % Ratio and CCI. You can trade 7 different pairs and have multiple signal/trades going at once. The free version only has 2 pairs.
How Does The Binary-Option-Robot Work
To use this you have to accept that it is just a black box. It has a little bit of adjustability but you are at its mercy. The software uses 5 different indicators to get signals. You can choose to use 1 or more at your discretion. If more than one are used then they both must indicate a buy at the same time in order for a trade to be placed. Expiry are limited to very short term; 60 seconds, 5 minutes, 10 minutes, 15, 30 and 60 minutes are the only ones. Once you pick your asset from the 7 available, set the trade amount and pick the expiry the software does all the work for you.
The Binary Options Robot also supports three different styles of trading. The Classic is simple trading, only using the same amount for each trade. The Martingale is self explanatory for most but to quickly recap it will increase the size of your trade with each loss so that only one win will bring you back to break even plus a little profit. A common strategy amongst gamblers and one that can wipe out a binary account in minutes. The Fibonacci style of trading is combination of both. It will increase your trade amount with a loss but will also decrease it with a win based on Fibonacci ratios.
Of course you also have to assume that you picked the right expiry for the signal you are getting, or that the signal is right for the expiry you are using. And you also have to assume that when you are trading the software you are getting a proper mix of winning and losing trades to ensure you achieve the proclaimed 83% success rate. And you also have to assume that you are using the right combination of indicators to be successful. Oh, and don’t forget about the disclaimer that states clearly “ the Binary Option Robot does not guarantee success”.
This Is Why It’s Free
The reason there is a free version is because this is nothing more than another elaborate affiliate marketing scheme. I admit that they did go to the lengths of creating a nice software package but when you come down to the brass tacks they require you to sign up with one of their brokers. In the FAQ’s they let you know that brokers are chosen very carefully and are trustworthy, of course they are, they pay good affiliate commissions. I also freely admit that the brokers they are promoting are good ones but the fact remains, they are profiting from your deposits and trading so can you really trust them? Not only that they also suggested that you deposit more than the minimum in order to “increase the probability of profits”. I call BS on that. Any trader worth his salt knows that account management includes position sizing on a percent basis. If I am trading with the same percentage amount all the time why does it matter if it is X percent of $200 or X percent of $450? Oh, I know, because they will get a bigger affiliate pay out, that’s why it’s free. The biggest insult though is them asking for another $79 to get the Pro version, a version that really isn’t that great.