The use of binary options robots – “bots” – and other automated trading software and apps has emerged over the past few years. Check out the top services 2019 and the list of things you as a user need to know and look out for, we also show how to get a robot demo account to try out the service and teach you how to use automated trading software and tools.
The best automated trading service for you will be a different choice, so read on to get the full scoop.
Popular Robots and Auto Traders in Ukraine
How do auto trading robots work?
Robot software and auto trading algorithms combine signal services with automated trading, so the software will try to identify profitable trades and will automatically trade them. As well – instead of leaving the trader to trade, these systems provide varying levels of risk management – from stop loss to daily spending limits. together
There is also a growing trend for brokers to provide their traders with the ability to configure ‘bots’ or automated trading systems, these tend to simplify the process by leaving indicators. Technically “drag and drop” into their system, the best bespoke robot features also allow traders to operate their robot on a demo account to try it out risk-free.
Brokers are keen to promote robots because they generate higher trading volume and reduce the risk to the broker, they can be a great tool for traders as well. But in binary options – as always, any promise of profit is an instant ‘red flag’. Robots require a thorough understanding before use and these robots are not a guaranteed path to profit.
Will robots make you a better trader?
Sometimes trading robots are as volatile as other trading methods. Similarly, the settings in which the robot is used may be less efficient. This will increase (or more) over time, so they will need to be constantly monitored for effectiveness.
Automated trading undoubtedly increases risk – and binary options are high risk investment vehicles, but unmetered automated bots can work through large losing trades, especially at News events affect the market, events that could cause traders to back out of the market will not stop automated robots.
This extra risk can be managed to some extent, many robots have daily loss limits and overall limits, they can also be set to stop if a certain level of profit is reached, traders must be aware of the pitfalls. Miss all and treat bots with respect.
Auto Dealer’s Review
Binary Bot from Binary.com
Binary.com Offers Facility To Design And Implement Auto Trading Robots For advanced traders, Binary.com now offers ‘advanced platforms’, one of which includes the Binary bot platform (screenshot). below)
The platform allows traders to put together an automated trading system, as one would expect from this company, this feature offers more depth than some of its competitors – again attracting advanced users. There are more options than others, this process allows for an added level of sophistication allowing users to be more specific about their trade ‘triggers’.
Binary Bot follows the unique Binary.com look and feel, the visual ‘fluff’ has been trimmed back and replaced with more features and functionality – typical of the brand. platform to check Binary.com
Other automated trading software
Automated trading software requires small elements to set up, but once it’s done – as the name suggests – the trading is automated.This form of trading is generally similar to robot services. The software is installed according to the type of trading they are interested in, thus their investment level, type of trading asset and risk level.Once configured, the software can trade according to the given settings.
Signals – Required for automated trading.
Signals and automated trading are theoretically similar, the difference is that when an automated trading software detects a signal based on data analysis, it opens a trade, the signal provider highlights trading opportunities. Instead, it opens real trading to the user.
Based on the algorithms used, the automated software generates signals and opens and closes trades based on those algorithms.
Copy other traders
There is also a service that will allow trades to be opened based on real life binary options trader, the provider will present a list of live traders and publish their results, the platform users can decide to copy. Those traders – choose their level of risk and investment to suit their own needs. This kind of “almost auto trading” is known as copy trading.
Robotic and automated trading scams
The automated nature of this type of trading is fraught with dangers, if traders manipulate their trades the level of risk increases dramatically, our scam page details the red flags to look for. But auto trading in particular attracts a lot of fraudulent operations, here are some of the reasons:
- Novice traders – Automated trading software is often aimed at beginner traders or those who do not have the time or knowledge to trade themselves, this group can be more misleading and targeted.
- It’s easy to blame traders – link to the first point, just dishonest service providers. But say the software is misused so it’s not at fault.
- Control – If a trader lets someone else control their trades, it is very easy to say that the money is losing trades.
Scam warnings include a lack of transparency. (Unverified results), forcing users to use a particular broker, and the most obvious – the promise of a guarantee or very high profits. If it was easy everyone would do it. Tread carefully if dealing with automated traders. The risks of scams are huge.