There are a Number of Robots that can Help You Trade Binary Options Successfully
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There’s a new buzz word in the world of binary options trading and it is automated trading. Also known as algo-trading or binary options robots, it uses an electronic platform to enter different trading orders with the help of an algorithm. It requires no human intervention because the electronic platform executes a pre-programmed set of instructions at variable times. Many stressed out traders are taking this option, and it is also used by professional traders such as pension and mutual funds, institutional traders and investment banks. Every step of trading is handed over to binary options robots who manage all aspects of the trade. Binary options automated trading requires no analysis on the part of the trader, as advanced software uses the knowledge of experts who have helped write the program to trade on behalf of others.
There are a number of factors that we will always look for, and you might want to look for them too. They include:
- It should be trustworthy and reliable
- It should be free
- It should be web-based
- A range of reputable brokers should support it
Successful binary options trading requires careful market analysis
The premise behind binary options is to predict the direction of an asset’s price, and for many this will not come easy. A certain understanding is required of the fundamental valuation determinants, as well as the technical aspects of charting graphs. As well as a level of understanding it also requires a big chunk of time. Two factors which not every trader will have readily available. Because of this it has long been a dream for many traders to have a way they can improve results, without having to spend hours sat at the computer and spend time in binary options ‘school’. Everyone’s prayers were answered with the introduction of the first binary options automated trading software. When it first entered the world of trading, binary options robots were a little clumsy and not the easiest tool to use. Thankfully, however, things have moved on in a big way and binary options automated software is much easier to use. Hence it has become very popular.
Binary options traders with only the basic knowledge of how it all works can confidently rely on trading binary options robots throughout the whole process of trading. They don’t need to sit in front of their computer watching the charts and other market indicators, or understand how to read them. They don’t need to constantly be vigilant or watch what the binary options robot is doing. Leaving them free to get on with their normal routine, as well as save time, stress, and effort.
Binary options automated trading makes it all a piece of cake. However, a word of warning is required as there are no guarantees of high profits every time, but it can increase the possibility of high returns.
Are binary options robots reliable?
This is possibly the most common question asked in relation to trading binary options robots. And we have to say that yes, on the whole, it can be considered a reliable tool to use. Particularly if you are new to this form of investment, and you don’t have to time to devote to following the markets closely.
Binary options automated trading makes the whole process of trading much easier for the average trader. Along with those who are entering the binary options market with little experience. Automated trading and the associated binary options robots are a blessing for these people. But you do not have to put all your faith in trading robots if you’d prefer not to. This is because the signals generated and placed trading offers are not completely robotic. Some degree of input can be required as well.
The automatic platform provides the inexperienced trader with the information they would otherwise have to find for themselves. Manual binary options trading requires analysis of charts, an understanding of the markets, including prices, trends, and movements, as well as fundamental indicators on a daily, weekly, and monthly basis. Which is a whole lot of information to digest for one person. An automated system, on the other hand, means a trader can increase the chance of making a profit even with limited knowledge of the market and processes. Day or night, a binary options robot keeps on working.
The number of automated binary options applications is increasing on an almost daily basis
Binary options robots have become very popular, and there are plenty of providers jumping on the bandwagon. Most of them are pretty honest, but there are a number of unreliable suppliers you should watch out for. We’ve already explained the ins and outs of binary options automated trading, so now it’s time to offer our help in separating the good from the bad.
Binary options robots make it possible for traders to make a profit in a number of different situations, particularly those that require swift and unemotional decisions. A robot can help you get better results faster, and will also help you to trade more efficiently. However, it is vital that you pick the best binary options robot, and it is not always easy. So, here are a few signs to look out for that will indicate a binary options robot is a scam or a fraud.
How to spot an illegitimate binary options robot
- No previous trading history – Look for information about previous trades, and if there isn’t any this should raise your suspicions. A robot that is able to make a profit will have no qualms about letting everyone know. A number of robots promise big profits, but you should be able to see where they come from. A legitimate robot will have its trading history clearly visible on its website.
- Design of website is poor – This is possibly the biggest telltale sign of a scam robot. There are few scammers who will bother to spend time and money on their website design. They will only be interested in making as much money as possible in the shortest possible time. You should look out for photo-shopped images and other image manipulations. If the website looks very amateur it is likely that the people behind it are amateurs too. If the binary options robot site is stylish and equals those of more well-known name it is likely the people behind it are honest.
- No robot features mentioned – The website should inform you of the robot’s features, and if there aren’t any anywhere then it may be that the only feature is it will lose you money. An honest trading binary options robot will have a wide range of possible customization options so that traders can tailor the robot in accordance with their own parameters.
- Exaggerated results and unrealistic promises – Always be wary of binary options trading robots that promise the earth. A projected income of more than $1,000 a day is clearly an exaggeration, and more likely a scam. There is not one single binary options robot that can guarantee such high returns and there probably never will be. A more reasonable expected income is a couple of thousand dollars a month, and even that won’t happen immediately. Fine-tuning and patience is required along with some experimentation. Any form of investment requires a certain amount of risk so a trading robot that promises a guaranteed income is most definitely a scam.
- Only compatible with unregulated brokers – Only the best binary options robots are accepted by the most reputable brokers. If the big name brokers don’t trust a certain robot then you shouldn’t either.
- Customer support is non-existent – A fraudulent robot won’t be interested in the problems of its clients, so there may not be any contact details on its website. If there a contact details you’d be wise to try to communicate before signing up to a particular service. If you’re able to get the answers to your questions then the robot is more likely to be trustworthy.
- Short history in the market – A short lifespan doesn’t necessarily mean the robot is a fake, but it should raise some suspicions. Much better to look for automated trading software that has been around for at least a couple of years. Bad or unreliable trading software will get such bad press that it won’t stay around for long.
- Limited number of trading assets – A wide range of trading assets will provide more opportunities for earning money. If there are only one or two then it will be very difficult to make a profit. There simply won’t be enough opportunities.
One final point to remember is that you don’t have to feel obliged to pay huge sums of money for a trading robot, as there are a number of free binary options robots available that work perfectly well.
We will be featuring some of the better binary options robots on future pages, so keep us as one of your favorites, and we’ll keep you in touch with all the latest developments in this very exciting form of investment.