what is binary options robot? If you’re into Binary options trading or aspiring to become a trader, this article will teach you everything you need to know about Binary options robots – how it works, advantages and disadvantages and more. See Forex Trading Guide for Beginners.
What is Binary Options Robot?
Binary option robot is an automated trading software for binary options trading. In other words, it is a highly auto trading software developed to trade on behalf of a trader.
This tremendous piece of software helps to maximize traders’ trading results by using claimed trading signals. In case you don’t already know, trading signals are mathematical indicators generated by some highly professional financial experts.
The bots receive trading signals and use them depending on traders’ preferences. The signals are being generated through the help of complex mathematical algorithms which allow the robot to execute proposed trades.
Traders Are Exposed To a Variety Of Assets
The bot offers a wide range of trading assets, such as indices, stocks, currencies and commodities. Every trader has the ability to decide which asset he wishes to trade with.
The dashboard of Binary options robot allows traders to pick the asset they would like to trade with. Worth knowing, the more activated assets on the robot’s dashboard, the higher the chance of having better trading results.
The bot offers variety of reputable binary brokers, in which traders can trade with. This is so in order for traders to have better trading results. A trader will have to register with a broker from the robot’s list without questioning the reliability of the broker. This is because every broker on the list is considered a reputable one.
The Advantages of This Bot
Before the advent of Binary options robot, as a trader, in order for you to hit some good figures, you have to be very dedicated. For example, you have to spend a lot of time making research. In other words, in order for you to be able to predict financial objects accurately, you need to be well informed and stay up to date about recent happenings relating to financial objects, countries’ economies, political developments, recent business news and all kinds of financial events. That’s not all, you’ll also need to have the ability to read some technical data, such as charts, statistic calculations and more.
But today, with the help of these bots, a complete beginner can trade binary options like a pro. I’m not saying that you don’t need to make research or follow financial trends anymore. What I’m trying to say is that even if you don’t do this things you can still trade binary and do well. This is because the robot will provide you with all the financial information you need in order to be able to trade accurately.
The truth is that this robot is basically for per-time traders. If you’re a full time trader, in order for you to be successful, you need to invest your time in making research, be able to read those technical data and follow financial trends; it’s the only way. No serious trader will depend on this robot.
So the cool thing about this robot is that through its help, any trader with basic knowledge can trade Binary options in a professional way, and may end up raking considerable amount of money without going through the stress of reading technical data and following financial trends. Although, in most cases, such trader may need an atom of luck to win.
It Has a Free VIP Feature Available To All Traders
In case you don’t already know, it is a free tool in the binary market. In fact, traders are easily given free premium privilege. For example, traders who registered via robot are automatically upgraded to VIP account for free. Also, a trader can also be upgraded to VIP account by merely referring someone (a friend or anyone) to use this tool.
Is Binary Options Robot a Scam?
Today there are tons of automated bots available in the binary market, although, a considerable amount of them are accurate (honest); there are some that are just there to take your money, so be careful. Just like I earlier mentioned, the cool thing about these tools is that they can easily make profits in situations that regular traders are not quick enough to take advantage of. That’s not all. This robots also help traders to be more efficient and also help them to maximize their profits.
Now whether Binary options robots is a scam or not will depend on the robot you pick. Like I earlier mentioned, a considerable number of these robots are honest. Nevertheless, if you’re not careful enough, you might end up picking the wrong one, which will lead to you losing money.
How To Choose a Good Bot
When picking a binary robot, below are some of the things you should pay attention to:
- Poor website design (interface)
- Lack of information about the Binary options features
- No previous history log
- No contact information
- The robot has only been on the binary market for a short period of time
- Very few assets available
- The robot is associated with suspicious brokers’ sites
Now those are the things you must look out for when picking a binary options robot. If a robot contains some of these things, then tag it a scam.
So here is my answer on whether it is a scam or not. It is not a scam but there are some people out there frustrating the effort. So definitely, there are scam robots. Just like in the real world where we have good people and bad people, in this industry, we also have good robots and bad robots. So make sure you watch out for the bad ones.
I believe you now have at least a smattering knowledge about Binary options robots. You’ve seen the good side and the bad side. So whether you trade with it or not, it’s on you. Like I said earlier, no serious trader will depend on someone else to trade their money for them let alone some robot you find on the internet.
I must commend the people behind this binary robot projects though; they’re really doing a good job, but I prefer to do it myself. Remember, this is trading and not investing. Why should I rely on a robot to gamble on my behalf? If you’re a serious trader, make time to do research and try as much as possible to follow financial trends in order to stay on top of the game. But if you’re just a road side trader, you might consider using the robot if you don’t have time to make research or follow financial trends.