The use of automated robots in binary options brokers has increased a lot in recent years. Traders use them to make profitable trades because they carry limited risk and are easy to use.
There are many robots available in the market. Some are third-party software, while others are provided by the binary brokers themselves.
Working of auto trading robots
The use of automatic trading robots is simple, and the positive point is that once activated, unlike signals, it makes the trades itself without the help of the trader.
The robots are known to work by combining automated trading and signal services. By doing this, the software will detect the possible openings in the market and will make profitable trades.
You can set the stop loss or fix the limited amount for daily use along with the other risk management.
Many brokers do provide the option to their traders where they can organize these robots or also known as “bots.” And some brokers will also let you use the robots in the demo accounts on a trial basis.
Why brokers provide robots?
Since robots can make profitable trades automatically, binary options brokers promote them for their high-volume trades, which further benefits the brokers.
They are efficient for traders as well, but their use requires knowledge on the working of bots. Their right use can make successful trades.
Are robots always safe?
Robots use the market signals and then make trades. This means that with the fluctuation in the signal, the trade could end in loss. The robots will work without considering anything, even when any financial news breaks and affects the market or any incident after which the trader leaves the market.
Hence, it becomes important to use the bots under regular invigilance. You can limit the losses by using the stop loss option or by stopping them when they acquire the specified profit.
Advantages of automated robots
- You can use robots in order to check your trading strategies and plans. Make the guidelines you want your robot to follow as per your strategy, and it will implement them for you.
- If you are a beginner, the bots can help you identify different market openings and endings. They will help you in placing your position in the market.
- They can provide constant passive income if you use them properly. This way, you have to use the trading platform less and can earn with the help of the robots.
Disadvantages of automated robots
- Robots implement trades on their own without making you gain any knowledge. This affects your trading experience as you won’t learn anything about the trading.
- Not knowing anything about the working of robots can make you lose money at a quick pace. Using them without considering all the aspects or without monitoring them consistently can put you on the losing side.
- Choosing a broker or a robot software that is unauthentic or unreliable can scam you. There are plenty of robots that are not real and provide high returns to lure in the traders. This way, you will lose money, not only in the trades, but your whole deposits will be stolen.
Are there any credible robots that work?
Indeed, there are many broker-generated or independent software bots that work perfectly and earn your profitable trades.
One such automated robot is – BinBot Pro that works on many algorithms and helps you in trading many underlying assets.
What is BinBot Pro?
It is a group of automatic robots that helps you in moneymaking through the trades. BinBot pro was released in 2016 and is an exclusive robot software that works on many binary options brokers like IQ Cent, Binary Cent, Race Option, etc.
This robot is encoded with such a software system that will detect possibilities and execute trades on your behalf. It will work in your absence as well. The robot works effectively on the digital options of Forex pairs and cryptocurrencies. You can set the requirements and all the limitations as per your preference, and the bots will do the rest of the work.
Regulation
The software company is not yet regulated by any legit authority. But it has been working in the financial market for a long time and has many trusted users. It provides robots to many binary brokers who are regulated.
Security
BinBot Pro is serious regarding its customer’s financial safety. It has applied Secure Sockets Layer or SSL security which is trusted encryption software. SSL protects all your personal data along with the deposits and card details.
Cost of BinBot Pro
It is one of the most interesting facts that BinBot Pro is free to use and does not charge a penny. There are no hidden or additional charges as well. All you need to do is meet the minimum deposit criteria of the broker you are choosing.
BinBot Pro login and signing in process
Creating a BinBot Pro account is very easy. You can use the robot by simply following these steps:
- Go to the BinBot Pro official website.
- There, you will see the “registration” button; click on that.
- Fill in your credentials like name, contact information, the currency of your preference, etc.
- Pick the broker from the list.
- Select whether you are a US citizen or not.
- Lastly, select “register for free.”
For the purpose of account verification, you are required to submit some documents. After registering, you can log in at any time using your registered email address and password.
BinBot Pro review
Trading platform
BinBot Pro is different from other bots. With this automated robot, you can trade currency pairs and cryptocurrencies on binary options trading platform.
The bot offers you many distinctive features which help in making some successful trades. It is a web-based software that needs no downloading on the device.
You can use 6 different indicators with this bot, along with the option to customize it. This means that you can let them trade on your behalf or can set some limitations. In addition to this, you can formulate your own robot by following some easy steps.
Indicators
The bot offers you 6 different indicators, which include:
- Average Directional Movement (ADM)
- Relative Strength Index (RSI)
- AROON
- Commodity Chanel Index (CCI)
- Relative Vigor Index (RVI)
- Momentum Indicator
Best robots in BinBot Pro
The robots are graded depending on the profits they have produced for the traders. Following are the top picks of BinBot Pro robots.
#1 Crypto ADX 2.0
One of the highly used, this robot has provided a profit of more than 300%. This bot evaluated the cryptocurrencies and used indicators like ADS and RSI.
#2 RSIMA Cross Robot
This bot uses the RSI indicator with the Moving Average Cross indicator and has constantly generated profit for its traders. With over 300% profit, its algorithm level is 5.
#3 Ichimoku Crypto V2 Robot
This Japanese robot was formed in order to evaluate the forex and cryptocurrencies and has resulted in many profits by using 4 indicators.
#4 HP Cycles Robot
This momentum-based robot detects the spot exchange rate and depends on the frequency of low trends.
#5 Bolly Band Bounce Robot
The Bollinger bands are used in this bot, and the algorithm level is 7.
#6 RVI & MA Robot
As the name suggests, the robot works for you when two indicators that are Relative Vigor Index and moving averages, traverse.
#7 Rising East v1.2 Robot
By using the market signals and their constructiveness, these robots execute trades. It uses some macroeconomic indicators, and the algorithm level is 4 points.
Demo account and its trading
On the demo account, you can check the robots and examine what is best for your strategies. One downfall it carries is that the demo account works only for 1 minute, and after its expiration, you will see your balance. Still, you can use it to check the robots and their functioning.
Underlying assets in BinBot Pro
You can trade forex and cryptos with these robots. The assets available in these categories are:
Cryptocurrency and Foreign Exchange pairs
- BCH/USD
- LTC/USD
- BTC/USD
- ETH/USD
Foreign Exchange Pairs
- USD/CAD
- EUR/GBP
- AUD/USD
- EUR/JPY
- GBP/USD
- USD/CHF
- EUR/USD
- EUR/AUD
Cryptocurrency trading with BinBot Pro
Using this automated robot, you can trade many cryptocurrencies like Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Dash, etc. along with this; you can use these underlying assets for the objective of withdrawal and deposits because they are more fast and secure as well.
According to recent statistics, the bot has provided returns of more than 700% on crypto trading. BinBot Pro gives you a 100% sign-up bonus when you trade cryptos using their robots.
Deposit bonus
For the real account holders and the traders who have added at least $1000 to their trading account, the software offers a deposit bonus. To use this bonus, copy the code and move to the account funding page, where you can paste the code and avail your bonus.
Deposits and withdrawal process
These methods vary as per the binary options brokers you are using. However, the options of adding and extracting funds are the same. The common and international methods offered by all the brokers are:
- Visa
- Master Card
- Cryptocurrencies
- E wallets
- Wire Transfer
The deposits are fast, and you have to submit the minimum deposit required by the broker in order to use the bots.
For the withdrawal, BinBot Pro will take 5% of the total transfer fee. The software allows you to extract the money within 1 hour with the registered brokers.
BinBot Pro performance in recent years
BinBot Pro is one of its kind that performs trades for both the forex market and cryptocurrencies. In recent years more than 25,000 traders have chosen this automated robot.
For beginners, using these bots is one of the best options. You will find many strong reviews about this as this is recommended by many novices as well as veteran traders.
Since 2016, the software has helped the traders earn 5 to 6 figures returns. The catch here is to remain regular and monitor the robots constantly because they do not give a surety of 100% success rate; you have to put in some effort too.
In past years, BinBot Pro has emerged as one the most trusted and used brokers, and in the coming years, it will rise even more.
Trading strategies for BinBot Pro
Trading in binary options means using various strategies from time to time. Nothing comes for free, and in the digital options, you need to calculate the plans to make your trades end in profit.
Using robots will somewhat increase the chances of success, but they also require some useful strategies.
When you look at the moneymaking administration, the general rule says that trading 5% is a risky step. But the case is the opposite in BinBot Pro that uses 10% of your balance.
You can trade digital options all week long; however, as per the experts with this bot, trading on weekends is not preferable because the big forex markets remain closed and other exchanges have less volatility. You can trade on weekdays between 1:00 pm GMT TO 11:00 pm GMT.
Using robots without any set plan will not earn you anything; rather, you might lose your investments. In order to form a strategy, pay attention to the economic calendars and all the financial news.
Another point essential to winning the trade is to select your indicators. Using the right filter at the right condition and using many indicators at the same time will complicate the software.
Also, do not let your emotions come in between the trading results. Trader’s emotion can ruin the later results; hence, do not let your sentiments affect the future trades.
Advantages of BinBot Pro
- This automated robot software is experienced, reliable, and is trusted by many users.
- It has the facility of a personal account manager who will help you with the working of robots.
- It helps you in managing risks.
- You can customize the robots.
- Customer assistance is available 24/7 in case of any issue.
Disadvantages of BinBot Pro
- There is no mobile app.
- Offers no training session.
- The demo account works for one minute only.
Is it a scam or not?
BinBot Pro has been in the market for years and has recorded a success rate of more than 90%. Although it is not regulated officially, it has gained lacs of customers in a short time.
Many traders have recommended this bot with good reviews. The algorithms used are accurate most of the time and have aided many in making successful trades. So, to sum up, it can be said that BinBot Pro is not a scam and is a legit source to gain better returns.
Conclusion
Since no robot or market trading signals can guarantee 100 percent win, you cannot get full satisfaction. Still, with BinBot Pro, you can get unique features like the availability of several indicators, which enhances the chances of winning.
It is easy to use for both beginners as well as for veterans. Auto trading allows you to make trades without spending extra time on reading and analyzing charts.
However, there are still some drawbacks to using automatic trading software. You need to monitor them on a regular basis, and it’s always better to set some limitations on the functioning of the robot.
With proper strategies, you can win a large number of trades. Lastly, take the robot that provides you the anticipated results and take your sweet time to learn and earn using BinBot Pro.
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