Binary Option Robot
5 stars based on
First though, what is the BinaryOptionBot 2. This is perhaps the first, it option bot for binary options at least one of the earliest, binary options robots to hit the market. This software provides automated signals on 15 different forex pairs and links you to you trading account for ease of trading.
The platform has a few different settings for time frame so you can view the assets on 1 minute, 5 minute, 15 minute, 30 minute and 60 minute time horizons. Unfortunately there is not much information on how the signals are derived but they are based at least in part on a percentage slide in the chosen asset and trend analysis. So far as I can tell the signals are all in the same time frame, the chart settings on the platform are merely a tool for you to use when viewing the asset.
The suggested expiry is 15 to 25 minutes which I suppose to mean either a 15 minute or 30 minute option, or the next option bot for binary options available expiry, depending on which broker you are using. The signals are delivered in a window to the left of option bot for binary options screen and include the option bot for binary options, the time of the signal and the direction of the trade, either call or put.
At that point you will then need to enter the trade into your account and then wait for expiry. The BinaryOptionBot is not an auto trader or social trader at this time.
The cost of the service is reasonable sounding at first. I say at first because after watching the video and learning more about how the service works I got a little miffed. This is such an affiliate marketing scam that I have absolutely no desire to use it. BinaryOptionBot is most definitely an affiliate marketing scam. It may not seem so at first because there are no reviews, lists of approved brokers or any other broker specific marketing material on the website. You already have to pay to get the software, why do you have to use his option bot for binary options I already have a broker, and for that matter, I already have more than one broker and more than one of those is on their list.
What do you do in that situation? Further, this guy is suggesting you develop trading habits that I frown upon. Seriously, you want me to open 5 accounts with 5 brokers and make the same trade 5 times across each platform. This not too too high but it option bot for binary options high, especially for a newbie. To me, his suggestions are 5X5 bad and could lead an unsuspecting trader into a pit of loss.
Using the platform as advertised may also lead you into frustration. In order to make trades you have to enter them into the accounts yourself. Even with the accounts easily available on the OptionBot platform it will still take you a minute or two to place all the trades. Davies suggests that this will increase your chances of overall winning because each trade will come in at a slightly different rate. To him this means that if an asset only option bot for binary options a little you may win 4 out of 5 instead of 0 out 1.
What this means to me is that if the asset only moves a little you have a great chance of winning 1 out of 5 which is completely option bot for binary options. It is something else to intentionally throw good money after bad making 5 trades on the same asset and signal. There is no guarantee that any one signal will even be profitable, you might just lose 5 trades at once. This signals provider is not recommended. This signals provider is not profitable or generates a large number of complaints.