Binary Options Automation app
In this review, we will talk about a robot called BinaryOptionAutoTrading, which is available on the web and mobile devices. We will try to determine what strategy and money management is implemented in this auto trading software.
The mobile app is named Binary Options Automation, and it is available free on Google Play.
The signals are delivered by in-house traders and computer algorithms based on the MT4 platform. The robot provides about 30 signals per day, and traders can choose whether they want all the signals or only a few trades.
Customers can use the algorithm by registering on the website or by downloading the android app. The robot functionalities on the web and app versions are the same, so you won’t miss anything if you use the mobile version.
How BinaryOptionAutoTrading works
The website and app registrations are free, and you just need to make a deposit at one of the partner brokers to run the robot. You are basically opening two accounts: one on the robot website and another at the broker. So, once you fund your broker’s account, the robot will use it to place trades automatically.
On your robot’s account, you can manage the following:
- Daily stop loss: up to $500 or unlimited
- Trade amount: up to $200 per trade
- Maximum daily trades: up to 10 or All
- Reverse trading: Yes/No
- Assets: up to 16 trading assets
- Risk level: 4 levels of risk
- Time frames: 4 time frames
- Providers: 5 signal providers
- Brokers: more than 10 brokers
On your broker’s account, you can do the following:
- Make a deposit – the minimum amount depends on the broker you choose
- Withdrawal your profits
- Trade without the robot
BinaryOptionAutoTrading Signals Providers
Five different providers are available: three are software, based on MT4 indicators, and the other two are in-house professional traders. Customers can choose which provider is active during their trading sessions. If you want the maximum number of signals per day, you must activate all providers.
You can start, for example, by activating only the pro traders and checking their win rates. These are supposed to be real humans who are following the markets and placing trades. The auto trading binary software replicates these trades on all customers’ trading accounts.
Obviously, you have to trust your money to these guys and expect that they will make you profit. Unfortunately, on the website, you cannot find statistics with success rates for these pro traders. You also cannot use the software in demo mode. You can only see winning trades for the last 72 hours.
You can select a level of risk, but you can’t actually choose a type of strategy because you don’t know what strategy is used by your professional trader. What we see is “Pro Trader James” and “Pro Trader Lennon” as options for providers.
What these guys are doing is kind of a mystery. Obviously, they are not selling you a strategy because this product is free, but they say that their winning rate is about 70%, which sounds good if it is true. You can reach them via live chat if you need more details.
BinaryOptionAutoTrading Money Management
It is good that this robot does not use the martingale strategy to recover losses. Otherwise, your account could be blown in a few hours. You can choose a daily stop loss up to $500, which means when your robot loses $500, it will stop trading. There is also an option to inactivate the stop loss, but you better keep it active for your own safety.
The minimum trade amount is $10, which means if you want to trade with 2% of your account, you need a $500 deposit at the broker. It would have been better if they allowed you trade with only $1, but that is defined by the broker and not by the robot. You can set your daily trades to 10, or you can allow the robot to trade all available signals.
BinaryOptionAutoTrading Partner Brokers
This robot works with more than 10 different binary brokers. You can use some of the most popular, like 24option, Banc de Binary, and EmpireOption, which are regulated by CySEC. Unregulated firms, such as Finpari and WynnFinance, are also included in the list, so it is up to you to decide.
If you are looking for a low minimum deposit, like $10 or $20, you won’t find it with these companies. Most of the partner brokers work with a minimum deposit of $250, and the minimum trade is from $10 up to $25. The payment methods are VISA, Master Card, Skrill, Neteller, Webmoney and more e-wallets.
When we checked Google Play Store, we saw that the Binary Options Automation app has more than 10 thousand downloads, and most of the reviews are positive. We could not check on the win rate. Hopefully, they will add a statistics page on the website for past signals. That would be extremely helpful for traders. In our view, they should also allow demo robot trading before customers put real money into their accounts.