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Binary options trading robots, signals services, and automated trading programs come in a huge array of varieties. Whether you trade in the Forex market, binary options, CFDs, or some combination of any of these, trading products like these listed below can have a lot of appeal.
A lot of traders are drawn to these because of the fact that they seem to offer effortless profits. However, this is far from the truth, so don’t get drawn into this trap. Any type of trading, whether you come up with the signals or someone else does, has risk involved with it.
Trading can lead to a loss of money, which is one of the reasons why it’s so important that you take some time and choose the right service for your own trading. There are no guarantees, and there’s always a chance that you will lose money.
Our goal at our Binary Options Robots page is to try and steer you in the right direction by giving you all of the information that you need to make an educated decision when looking at a binary robot trading service.
Some services are very good and have strong track records, while others are not quite as reliable. Most of the time, this will need to be something that you figure out on your own, though. By giving you the information that you need to make a good decision, we can get you started down the right path.
On the most basic level, a binary signals service analyzes trading opportunities, and then lets you know about them so that you can join in on the trades if you wish.
Essentially, it is a subscription service that updates you when an asset should be bought or sold, or simply lets you know what conditions you should be looking for in order to execute a trade. Some of these are completely automated, and others are sent by a live person. In the end, where they come from doesn’t matter as long as the signals you receive are trustworthy and accurate.
This can be a great way to reduce the amount of time that you spend researching potential trade ideas, but it can also be quite dangerous, especially if the signals that you are receiving are not helpful. There have been many scam services out there in the past, and while many of these have disappeared, it doesn’t mean that they all have.
If you’re going to use a signals service, you need to be very careful with your selections. The following checklist can help you become more informed on whether a service is worth your time or not:
If the service is sending you trade information via text, you will want to make sure that you can trade while you’re on-the-go through mobile trading. You want delivery down in a way that is helpful to you and timely so that you have time to evaluate and execute the trades.
If you are faced with two similar products, but one outperforms the other, your choice has been made easier. However, don’t forget that past performances are not always indicative of future performances. Also, analysis methods become outdated. The trade predictions that were effective last month might not be effective next month.
A binary trading robot or a forex and CFD robot is any type of service that actually makes trades for you.
These have existed for many years in the world of Forex, but they are fairly new when it comes to binary options trading. Because of the fact that so many robots rely on the MetaTrader’s software for analysis, most binary options trading robots still focus on currency pairs. This trend may change over time, but for now, it’s important that you understand why this happens.
Binary options trading robots, much like other signals services, have certain things that you need to look out for. Some of these include:
This last point is an important one. Some automated trading services let you have a large degree of control over what trades are made and some services give you no control.
While a trading robot or another automated trading service is designed to save you time, that doesn’t mean that you should not invest any effort into it. Robots are not for those without experience, but rather for those traders that know exactly what they are looking for and are using the robot as a tool to save time or to supplement profits.
For example, if you look at your robot and it allows you to control how much risk you take on per day, which assets you want to focus on, and other aspects of your trading, you have found one that allows for a high degree of customization.
Customization is important because automated traders tend to operate on algorithms. When an asset shows a certain pattern, then a trade is made. This is usually fine, but as any experienced trader will tell you, when conditions exist where this is a bad idea, you can lose a lot of money. Being able to customize your trades will help you to smooth these bumps out.
Below, we’ve listed the best binary options robots and given a brief description of their pros and cons. This should get you started in finding the best binary signals to meet your needs as a trader. A binary alert service often covers several types of assets, so these can be helpful for short term Forex and stock traders, too, in many cases. It’s all up to how you trade, so have a firm grasp on what you are doing before you sign up for anything. Many people do use these services to help learn how to trade as well, making a service a great tool for a beginner.
One of the most popular binary options robots was the IQ Option robot. Unfortunately, the IQ Option robot is no longer available.
There was also a lot of talk about the 24option robot. This trading robot is also not available.
The list you will see below is an updated list of the BEST trading software in the market right now.
All the trading robots / signal services listed below do not offer binary options signals, but forex, crypto and CFD signals.
FXMasterBot is an automated trading software that provides you with real-time trading signals to help you easily trade with the broker of your choice. The signals you will be receiving are forex, crypto and CFD signals.
This is manual trading (not complete auto trading), which means you will be using the signals as exclusive insight into any market movements, and it will be up to you whether you want to act on them or not.
One of the great advantages of FXMasterBot is that you can choose the broker you prefer to trade with from the ones they have available. This is not the case for other trading robots, which tend to automatically direct you to the broker they want.
Interested in learning more about trading with FXMasterBot? Read our full FXMasterBot review.
BTC News Trader is a crypto trading software that tracks hundreds of crypto-related news sources 24/7 and gives you automatic signals on important crypto movements in the market so you can act accordingly.
Why would you need this? BTC News Trader saves you the time of looking at charts and financial news yourself and gives you all the information you need directly through their powerful software.
Read our full BTC News Trader review to find out more about this crypto trading software.
Whether you’re trading binary options or Forex, a trading service (binary signal service or binary options robot), can be really helpful.
But remember that they are not an automatic path to earnings. You need to be vigilant and monitor the quality of whatever product you are using, spending at least a few hours per week evaluating whether the service is doing what it should. And that’s after you spend several hours ensuring that all of the settings are correct before you begin.
As a final note, you will always want to make sure that the service that you’re using, whether it’s a trading robot or a signals service, is legally allowed to assist people where you live. Laws change from time to time, and a reputable product needs to comply with all local laws. If the product is not allowed in your area, do not use it. This opens you up to a lot of potential issues, ranging from being scammed to getting in trouble with trading authorities. Be familiar with your local laws and follow them.