The use of binary options robots (“bots”) and other automated trading software and apps has exploded over the past few years. Here, we explain how trading robots work, review the 2020 best services, and list what users need to know. We will also show you where to get a robot demo account to demonstrate our services and instruct you to use our auto trading software and tools.

Read all the facts as the best auto trading service for you is a personal choice.

Korea’s best robot and car deals

How automated trading robots work

Robotic software and automated trading algorithms combine signal services with automated trading. So, the software identifies profitable trades and then places the trades automatically. This automated element takes signal services to the next level and places trades instead of actually leaving it to the trader. These systems offer different levels of risk management, from stop losses to daily fixed spend limits. However, the automated factor increases the trader’s financial risk as a whole.

There is also a growing trend of brokers giving traders the ability to configure their own ‘bots’ or automated trading systems. They simplify the process, allowing traders to “drag and drop” technical indicators into the system. The best custom robot feature allows traders to try out the robot risk-free by operating it on a demo account.

Brokers want to promote the robot because it creates more trading volume, thereby reducing the risk for brokers. They can be great tools for traders as well as in binary options. The promise of profit is an immediate ‘red flag’. Just like the binaries themselves, the robots must be fully understood before use and are not a path that guarantees a profit.

Will a robot make you a better trader?

sometimes. Trading robots swing just like any other trading method. Likewise, the settings the robot operates in may become less effective over time. Therefore, its performance must be continuously monitored.

Undoubtedly, automated trading increases risk and binary options are already a high-risk investment vehicle. However, automated bots running unchecked can suffer from numerous lost trades, especially when news events impact the market. Events that can force human traders to back out of the market will not stop automated robots.

This additional risk can be managed to some extent. Many robots have daily loss limits and total limits. You can also set it to stop when it reaches a certain level of profit. Traders must be aware of all pitfalls and respect bots.

Reviews of auto traders

Binary bot from Binary.com

Binary.com also provides facilities to design and operate automated trading robots. As a broker for advanced traders, Binary.com now offers a range of ‘advanced platforms’ which include the Binary Bot platform (screenshot below).

The platform provides traders with the ability to configure an automated trading system. As you’d expect from this company, this feature offers more depth than some of its competitors, again appealing to power users. The criteria that can be used to construct algorithms provide a larger selection than elsewhere. This process allows additional layers of complexity to be built in, allowing users to be very specific about the ‘triggers’ of their trades.

Binary Bot follows the look and feel of Binary.com. This is pretty unique. The visual ‘fluff’ has been cut and replaced with more functionality and usability (typical of the brand). For more information about the platform, see Binary.com review .

 

Other automated trading software

Automated trading software requires a small manual element to set up, but once the name suggests, trading is automated. This form of trading is very similar to robotic services in general. Traders using automated software first set up the software according to the type of trade they are interested in. So, the level of investment, the type of asset to trade and the level of risk. Once configured, you can trade the software according to the given settings.

Signals – essential for auto trading

In theory, signals and auto trading are similar. The difference is that the auto trading software starts trading when it finds a signal based on data analysis. Signal providers simply highlight trading opportunities, but leave the actual initiation of trades up to you.

So automated software creates signals based on the algorithms you use, and it opens and closes trades based on those algorithms.

Copy other traders

There are also services that allow you to open trades based on real binary options traders. Providers provide a list of live traders and post results. Users of the platform can then copy those traders and choose the level of risk and investment that suits their needs. This kind of “almost car trade” is called copy-trading.

Robot and Auto Trading Scams

The automated nature of this trading style is at risk. When a trader hands off a trade to someone else, the level of risk increases significantly. Our scams page goes into detail to find some of the red flags (including a list of scam services), but especially automated trading Crowds a lot of fraudulent operations. Some reasons are:

  • Beginner traders – Car trading software is often geared toward newbie traders, or those who don’t have the time or knowledge to trade themselves. This group is probably misleading, so we target it.
  • Easy to blame traders – link to the first point. Dishonest providers simply say that their software is not faulty because it has been misused.
  • Control – When a trader controls someone else’s trade, it’s very easy to say that money is lost on the trade.

Scam alerts include lack of transparency (results that cannot be verified), forcing users to use a particular broker and, most obviously, promises of guaranteed or very high profits. If it were easy, everyone would. Be very careful if proceeding with a car dealer. The risk of fraud is significant.