Binary Option Robot
Trading robots are beginning to grow in popularity in the world of binary options trading, and Binary Option Robot is one of the first products to emerge in this line. Today, it is still one of the most widely used trading robots out there. Is Binary Option Robot right for you and your goals as a trader? While we can’t answer that question for you directly, we can give you the information that you need to make a smart and responsible choice on your own. This Binary Option Robot review is designed to get you pointed in the right way.
What is Binary Option Robot?
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. Some people enjoy this process and don’t mind spending time on this. 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.
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How Do I Use Binary Option Robot?
This trading tool is simple to use, our Binary Option Robot review team discovered. The bulk of the work that you’ll need to do is in the setup of your account. Binary Option Robot asks that you fund your account and then select how much you want to risk per trade. Their site recommends that you deposit $1,000 and select $25 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.
After you’ve created an account, you will be asked to fund that account. First, choose a broker—we’ll talk more about this later. 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. Most brokers have a minimum deposit level of $250, but this does vary.
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. If you are uncomfortable losing more than $100 per day, for example, you can choose this number and if you ever lose this much, the robot will automatically stop making trades for the remainder of the day. 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.
Choosing a Broker
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. If you already have a broker, don’t worry. A separate account will be created for you through the broker. The broker list is fairly limited right now, but that’s a good thing for most traders. This robot selects only the best and most reputable brokers with which to do business with.
Really, the main thing for you to consider is that the broker you select is regulated and provides services to traders in your area. Although the Binary Option Robot is a third party trader, you still want to ensure that you are following local laws as carefully as possible so that you don’t have to worry about any sort of legal issues if they were to arise.
This list of brokers is still expanding, so if you don’t see a broker that you want on this list yet, there’s a chance it could be included in the future. If you want to, you can choose more than one broker if you wish.
Binary Option Robot does have VIP accounts available for some of their clients. These accounts give you all of the features that a normal account has, but comes with a few added benefits. Some of these include different algorithms to apply to your trading, extra levels of risk management, and additional expiries to choose from in your automatic trading. What’s great about this is the fact that VIP Accounts are free on a limited basis. If you want extra free usage of a VIP account, you can always make an additional deposit or refer people to use the robot.
How Much Does Binary Option Robot Cost?
Binary Option Robot has no upfront cost associated with it. However, this does not mean that it is free to use. Let’s say that you would have earned 80 percent in returns off of a successful trade if you had executed the trade directly through whatever broker you happen to be using. Instead of a full 80 percent return on that trade, Binary Option Robot keeps a small percentage of that profit for themselves, and then uses the rest to credit to your account. This ensure that they are only successful when you are successful. When you do well, they do well, too.
Should You Use Binary Option Robot?
That depends on what your goals as a trader are. What our Binary Option Robot review found was that this software allows you to make many trades per day, far more than what the average person would be able to trade in an educated manner on their own. Overall, the product has shown itself to be successful over the long term, but this isn’t necessarily a sign of future success. However, this robot appears to be a strong product for those individuals looking to make trades but without spending the time and energy to research them thoroughly on their own.
Binary options trading is risky, and one of the best ways to manage your risk successfully is to never use a product, signals service, trading robot, or anything else that is not in your best interest. Binary Option Robot has been successful for many individuals, and although there’s a chance you will find success here too, there is no guarantee that it will happen. You will need to evaluate this on your own before making a final decision.
***Your capital may be at risk. This material is not investment advice.***