The new automated trading software called Binary Option Robot is the best software we have seen for binary options.
There are two types of systems that traders use for binary option trading; Auto Trading Robots and Signal Generators. The auto trading software as its name implies, automatically places trades on your behalf.
Some traders prefer to just receive the signals, and decide on their own; whether or not to place a trade. The Binary Option Robot has that option also. It is more than just an automated trading software.
One of the big dangers of using an automated trading software or a robot for trading binary options is the risk of blowing out your trading account. At least the Binary Option Robot has settings to minimize the number of trades and VIP traders can also select the risk level for the trade.
Another benefit of the software is that they are constantly upgrading, tweaking and adding new features. From when we first reviewed the software in January 2015 until today, there have been multiple updates.
In April 2015, they added signals for: Gold, Oil, S&P Futures and Dow Jones. In September 2015, they added 10 more languages to the software. In December 2015 they added two more signal sources; Pro Trader Michael & Pro Trader Liberty. In January 2016, Avangard signals were added.
Here are the main features of the Binary Option Robot:
- It works with multiple brokers, including the European licensed brokers 24Option, Banc De Binary, along with the unlicensed brokers; uTrader, Stellar Finance, PlusOption, and OptionStars.
- Traders can select which assets to auto trade.
- Traders can choose the size of the trade.
- Traders can set a limit for daily trade losses.
- Traders can choose the max number of daily trades.
- Choose from 27 Forex pairs to trade.
Many brokers have different returns on the various currency pairs.
For example, Banc De Binary has returns of 81% on the EUR/USD but on the $AUD/USD the returns on 79%. Long term options tend to only offer 60% – 65% returns.
The reason to use the software with multiple brokers is so that you can run various strategies.
For example, with Banc De Binary you may choose to reverse trade signals from Pro Trader Michael, because his wining results are less than his losing results. But then with your OptionFM account you want to take the signals, because they are producing winning results there.
A trader seeking to maximize potential profit on good trades, will select only currency pairs that have a high return, and will not set the binary option robot to trade pairs with low payout.
A few other binary options brokers have released their own automated trading software, see here.