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CFDs, Options Robots & Forex Auto Trading Reviews
Automatic trading robots are software products that trade on your behalf or let you choose among many trades generated by the system. With auto trading, analysis becomes unnecessary as the advanced software utilizes the knowledge of experts to create trading recommendations on behalf of traders. Fair Forex Brokers puts a lot of effort into reviewing robot trading software for binary options, forex, cryptocurrencies and CFDs. There are some important aspects that traders should look for in auto trading software of their choice. We prefer trading robots that are: free, web-based, trustworthy, and support a range of regulated brokers. Below is our list of reviewed auto trading robots.
What is Forex, CFDs or Binary Options Auto Robot Trading Software?
Forex robots, or forex auto trading software, as well as binary auto trading software and CFD trading software are all very similar in their technology but different when it comes to online retail trading instruments they use. Most modern auto robots are based on advanced algorithms that can easily track market changes and find trades with the highest potential. Forex robots code includes an algorithm that employs often a well known trading strategy to place trades automatically or by requiring confirmation from the trader.
How do Binary Options, CFDs and Forex Trading Robots Work?
Here, Fair Forex Brokers team will try to explain the way auto trading software works in the easiest way possible.
In most cases, traders trade with either a binary, forex or a crypto broker. They follow the market changes and try to find trading opportunities buy utilizing technical analysis and market indicators. Such approach requires great knowledge, not only on financial markets, but also on fundamental and technical analysis, which usually takes time to master.
Using an trading robot is a somewhat different approach. In this case, traders still trade with a broker (preferably a regulated one), but they use auto trading software to do the analysis and find trades for them. Binary options robot, forex robot or cryptocurrencies trading software does the analysis thanks to the sophisticated algorithm, and delivers the trade directly to the trader. Depending on the trading software, it can be placed manually or automatically.
Trade with Forex Robots in 3 Easy Steps
Step 1 – Register with a Forex Robot
Open a trading account with a forex broker of your choice. This is usually done by filling out an online form. As soon as you have a trading account, you will be connected to a broker. All your trades will be placed with the broker you made deposit with, but you never have to leave the robot’s website depending on the Robot. The robot, no matter the asset type you are trading, is only a bridge between you and the broker that allows you to trade in a more convenient way.
Step 2 – Use Settings to Control Assets, Risk and Trading Strategies
Explore and use all tools and settings you have available with your auto trading robot. That way, you will personalize your trading signals and trades placed.
Step 3 – Activate Auto Trading or Trade Signals in the Software
Most robots nowadays have a special button that allows you to activate or deactivate automated trading. When you feel ready to trade, make sure to turn the auto trading button ON.
Binary options robot operates in the same way. Of curse, the individual trading experience may differ based on the quality of the product and features offered. Some binary options robots are only simple algorithms that can be turned on and off, while others offer great add-ons and customizations possibilities.
Are Crypto, Options and Forex Robots Profitable?
Traders should definitely be interested whether or not their binary options robot or forex robot is profitable. While there are many products that promise you to become rich in a single month – just see BinaryBoom promises of 17000 USD – an obvious lie, bear in mind that serious and reputable products never make such promises. The success rate is usually based on a complicated equation with several factors including the risk you are willing to take, the number of trades placed, so it is impossible to guarantee you an exact percentage. This is why we always prefer trading with robots that have many tools and features that can be used to customize the trading profile and the trades placed.
Binary options robot profitability is equally hard to determine – there are simply to many factors involved. However, traders should always use the trading robot that offers personalised trading and gives them a higher level of control. This way they can either turn off strategies or assets that drag the overall win rates lower. Also, risk settings will allow to get only the signals with lower potential payout, but also less risky.
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Note: Robot results are not always verifiable and depend on many factors
Which Forex or Binary Options Robot Really Works?
The question every trader should ask themselves is not which forex robot really works, but which forex robot works for them? In order to find out the answer, we recommend reading all forex, binary, CFD and crypto robot reviews available on our website and doing some research yourself. Only so can one be sure that their decision is optimal.
Also, use forex robots that have a no deposit demo mode, so you can test drive the software.
Forex Robot Demo – The Best Way to Test the Software
While reading reviews traders will find out there are robots that offer a free demo and robots that don’t. Forex robot demo, or any other type of demo whether it is binary options, crypto or CFD robot we are talking about, allows the trader to get a first-hand experience on what trading with a certain robot actually looks like. Demo accounts usually come with a certain amount of virtual money. With this money, you can’t make real money (as it is virtual), but you can use it to trade on the platform and avoid rookie mistakes that can cost you real money in the future.
Traders should always prefer forex robots that have a free demo, as they make the entire trading process more transparent. You will know what awaits you, once you deposit with the broker available on the trading interface.
What is the Best Auto Trading Robot on the Market?
A new forex robots, binary options robots and crypto trading software pops up every day. It is understandable that traders often feel challenged to find the one that really is the best forex robot or best binary options robot. There is no unique brand that can be considered the ultimate solution for all traders, as we all have different goals and trade in different ways.
Still, here are some characteristics of the best forex trading robots:
- Free demo account
- Regulated brokers available
- Multiple account types
- Variety of settings, tools and assets
- No download required
- Mobile trading supported
Sometimes, traders will be able to find auto trading software that supports all these characteristics, and sometimes they will find only some of them. It is important to read reviews, like those available on our website, to get a better picture on the overall image of a certain forex or binary options robot, instead of focusing exclusively on a single characteristic.
Are Forex Robots Scams?
Traders must be aware that the quality of CFDs, binary and forex robots may vary depending on the brand. Not all auto trading software or binary options robots are created equal and not every algorithm is equally complex or advanced. Some algorithms are simply more reliable than others. Also, the quality levels of customer support, brokers available and tools offered are not the same with different brands. We always strive to provide objective review and warn traders about unethical practices, but the best way to protect yourself from scams is to read reviews thoroughly and focus on facts rather than promises.
What are Forex EAs?
Different class of robots are MetaTrader Expert Advisors – EAs. They function on a bit different principle and require manual installation in the system. Their advantage is the fact that they can be tested on historical data, however, they are not easy to install for unexperienced users and can cost up to several thousands of Euros.
Forex Robot Comparison: MT4 Expert Advisor vs FXMasterBot
MT4 EA is also known as Metatrader4 expert advisors. It is a special type of auto trading software that can be added to the MT4 forex trading platform with the sole purpose of auto trading. There are many different types of MT4 expert advisors, but in this case, we will try to compare them with one of the most popular auto trading software that doesn’t require any downloads – FXMasterBot.
MT4 expert advisor can be described as a plug-in that needs to be installed directly on the Metatrader platform. Considering that Metatrader platforms already require download and installation, many traders feel challenged by so many technical maneuvers necessary for auto trading. On the other hand, forex robots that can be accessed directly from the browser are straightforward to use, and there is no technical knowledge necessary.
From that point of view, FXMasterBot is more user-friendly. All you need to know are your login credentials and you can easily trade from any device you have nearby that is connected to the internet. Also, good EA’s cost money, and FXMasterBot is completely free. Thanks to free auto trading software, you can direct all your money towards trading, and in case whn you are using MT4 EA’s you have to put an additional cost into trading equation.
While in the past, MT4 EA forex robots were considered to be the ones that offer highest customization possibilities with strategy parameters and other settings. FXMasterBot makes this entire decision-making process easier. And while there is no doubt that MetaTrader4 expert advisors have certain good sides, modern “prosumer” traders are more oriented towards simple solutions that have everything taken care of, such as FXMasterBot.
Overall MT4 EAs do have advantage that there are as many of them as there are people who believe they have cracked the formula to trade in the market. Many of them perform really good in set conditions, while others offer lower returns but better adjust to abrupt market changes. In this sense they have advantage that one does not rely on default few strategies, as with FXMasterBot which uses Bollinger Bands and few other indicators to create signals – there is a huge selection of approaches. EAs offer much more versatility, but also are more complicated to run for some people.
Binary Options and CFD Robots and Regulated Brokers
As previously mentioned, most modern forex, binary and crypto auto trading software offer a list of brokers you can use to make a deposit with. Bear in mind how auto trading software never accepts any deposits nor processes withdrawals, as that is done by the broker.
Regulated brokers give credibility to the auto trading robot and give traders an additional level of safety at the same time. We always support trading with regulated forex and binary brokers, as they oblige to demanding set of rules and have high standards when it comes to customer protection.
Forex Robots for iPhone and Android Phones
The needs of modern traders can no longer be fulfilled with desktop trading only. That is why more and more forex trading software offer mobile versions of their trading rooms or mobile apps that can be downloaded from their respective app stores.
Forex robots that are supported on iPhones and Android phones make trading possible no matter where you are and what you do. You can wait for a bus, a meeting, or sit on the beach and still get access to latest trades. This makes trading more dynamic and is not limiting you only to your desktop computer. Binary options robots are no longer supported in form of an app on iPhones, due to Apple’s decision to remove them from the store.
Still, there are certain conditions that need to be fulfilled for successful mobile trading with auto trading software. For example, make sure to have enough space on your phone so that the app can work without any delays and interruptions. Also, make sure that your data plan supports enough traffic that is necessary for trading, or that you are connected to a reliable wi-fi network.
In the past, mobile versions were often the not most optimized trading solutions, and mobile apps usually were the best choice. Today, there is little to no difference, but again, use a free forex robot demo to make sure you like the way trades are placed on your mobile phone.
Bitcoin and Ethereum Auto Trading Software – Cryptocurrency Robot Trading
As it is already a well-known fact, cryptocurrencies are considered to be the next big thing in financial trading. Also, increased popularity of cryptos increased the demand for safe and reliable crypto trading software. And while it seems to be an impossible task to find a solid bitcoin auto trading robot, or ethereum auto trading software, traders can apply the same rule they do when choosing a forex trading broker.
They simply have to find a solid auto trading software that supports this type of trading with, preferably, regulated brokers who offer cryptocurrencies as underlying assets. Also, there are specialized robots that support crypto assets exclusively. This is a much better trading solution than using a robot that trades for you directly on the exchange. You will keep control over the entire trading process which is of crucial importance.
Crypto Auto Trading Software Benefits
Cryptocurrencies markets are extremely volatile. Sometimes it takes only a rumor, statement or a slight change in the regulatory framework to cause great drops in the crypto market . This puts traders in an unfavorable position – they can experience unexpected losses at any moment, and miss great trading opportunities at other.
Bitcoin auto trading systems and ethereum trading software can give traders a chance to take a break. Besides, they also serve as an additional tool for trading with their favorite regulated brokers. Cryptocurrency trading with best auto trading robots combines dynamic crypto trading with more reliable forex trading (as most forex brokers offer cryptocurrencies in their portfolio). Using a reliable crypto trading robot that requires no special downloads and installations and cooperates only with the best crypto brokers on the market can significantly improve your chances of reaching satisfying win rates.
Binary Options Auto Trading Software – Browser Plugins
The second type of auto trading software in binary options is the plugin. The idea here is to use the feature modern browsers support – extensions – in order to make a small program that will run as the auto trading overlay with the chosen broker trading platform. Usually, one gets a sidebar with some settings. While this seems very practical, in many cases these are the worst designs since many of them still work in a way that the software uses the position of the platform to write down signal data directly into the interface of the broker’s trading platform.
This is a very clumsy solution and probably the worst type of binary auto trading software implementation. The installation can be easier than with the standalone software, however, this is not the rule. Sometimes plugin needs to be downloaded and installed just as the regular software. In any case, this solution is often less stable and secure since it depends on the browser and its performance.
Are Web Based 100% Automatic Auto Traders the Best Choice?
Without even touching the performance of binary options auto trading, we are arriving at the newest way to implement auto trading. The new approach respects the inherent web-based nature of binary options and keeps the main trait of binary options trading – online, no download, browser interface. The idea is to have all the necessary settings in the browser and turn auto trading on and off trough a simple click. Web-based solutions are becoming the most popular way to trade binary options since no installation is required.
Auto trading software run from the server controls the experience while broker trading platform is used to place trades.
Prices & Binary Option Robot Activation Key
A lot of customers are asking how much do these binary options auto trading solutions cost. There is no unique answer here. Some charge for their software, while others do not. Some require monthly subscriptions while others sell software licenses for major versions. Also, many offer a free version that does not include all the options the full version, which has to be paid has. In some cases, there are fewer controls, while in other cases not all brokers are available.
Paid software will usually require an activation key from the provider in order to get it to work. This is a protection against those who would download it without paying. This is also a reason why many customers think there is a crack or a keygen (activation key generator) for binary options robots. We are not aware that hackers have developed any cracks in order to get this software for free, but it is very likely the access would be blocked from broker’s side.
Free auto binary trading software
If you prefer not to pay for the binary options robot software, there is no need to go around looking for keygens and cracks. There are perfectly good free auto binary trading services that all you need to do is sign up and set the account. Our favorite, as can be seen in the list below is the Binary Options Robot. It is free and has a web-based interface that does not require any downloads.
Binary options bot for Mac
Not all binary options auto trading solutions have a version that is available on the mac. Plugin solutions might work in some instances and not in others. The surest way to get a web based solution as the aforementioned Binary Options Robot. This way traders can be sure it will work on every platform, without installation.
Binary options robot – scam or not
Binary options robot sector is versatile and it is hard to say that every service is a good one. Some may not be that bad, but they use spammy tactics that make us distrust them. Some are total scam preying on customers with their “make money fast” schemes. Trust us, there is no such thing. Do not fall for that. It is also important that the binary options robot of your choice does not feature brokers that are a scam, or you could encounter problems with withdrawals. Take a look on our blacklist in order to know which brokers to avoid.
Top Class Auto Trading Software for Binary Options
100% auto trading software for binary options.
Binary Auto Trader is a Sophisticated and Accurate binary options trading software that combines the power of fundamental and technical analysis of the market to generate profitable signals which can be synced automatically to your broker account without any hindrances. What makes this software so powerful and profitable is it’s ability to analyze current trends in the market and able to depict which currency pairs are best traded at any particular moment thereby leaving little or no rooms for loss but pure profit.
Unlike majority of other binary options softwares in the market which usually leaves traders disappointed at just a mere win rate of about 40% (virtually a loss), Binary Auto Trader can give traders up 87.35% Win Rate or even higher.
Binary Auto Trader is always with you. Use at home on your computer using the webtrader or by downloading the software. Use anywhere on your mobile with the mobile webtrader or with the Android application.
Fighting online scams since 2020
Stay AWAY from Binary Option Auto Trading
In this review we look at a trading robot called “Binary Option Auto Trading”.
Binary Option Auto Trading is a system that promises 100 % automatic investing.
A software will trade for you allegedly based on signals from professional traders and advanced computer algorithms. And it is free.
Don’t trade with Binary Option Auto Trading
The first question that you should ask yourself is: Why would anybody be giving away for free a profitable binary options robot?
The second question that you should ask yourself is: How is it possible that a free binary options robot has an affiliate program and will pay people for referring new members, where does the money come from?
Answers to these question are very simple. People behind Binary Option Auto Trading are affiliated with unregulated brokers (Binary Tilt, RBinary, Finpari) and will get paid by these brokers for referring new depositors.
So how do they make you deposit with their broker so that they earn their affiliate commission? They have to make you believe that you will make money. So they created a piece of software that can trade automatically, but not profitably. And they force you to deposit first, only then you can start using the app.
It is important, because by the time you realize that Binary Option Auto Trading is a losing software, they will already have earned their commission on you. That’s how it works.
You don’t believe it? Have a look at their Terms and Conditions on the picture. In essence they say that you should not trade based on their system. Their signals come from a third (undisclosed) party.
So you should expect losses. So don’t risk it.
Binary Option Auto Trading is just one of many programs designed to make money to their creators through affiliate programs. The problem is that at the same time they lose money to users of their trading systems, so stay away from them!
Any serious trading program has to let you verify its performance on a demo account. You should never trade any system or strategy with real money if you could not verify how it works on a demo.
152 thoughts on “ Stay AWAY from Binary Option Auto Trading ”
Hi John! What can you say about Forex Fury? Do you have a review of that software?
Hi Romeo, I just don’t believe that a software that costs $200 can achieve the profits they advertise. It makes no sense. Besides, Forex Fury has a history of fake reviews on Forex Peace Army, so to me it is not credible.
Unfortunately I found your website to late. Based on BinaryOptionsExpert.net review of Binary Option Auto Trading and their #1 recommendation of it, and the fact that it was also supported by their recommended broker 24option, I decided to open an account with them. After opening the account, to my surprise I found that the only broker available to me to fund this account was Coinbull, with a supplementary broker called Crypto Coin fn. So, the minimum amount to fund this account using Coinbull was $275.00, and their minimum amount to trade is $25.00. I funded my account with $500.00 because of the matching bonus. About five minutes after funding my account, I received a telephone call from a person who stated that his name was Jason and that he was with Coinbull. This person called me at 4:06 AM and I live in New York! Well Jason welcomed me to Coinbull and tried to upsell me on making a deposit of $1,000.00 or $2,000.00 by telling what bonuses I would get at those amounts. I declined both amounts and told Jason that I was comfortable at the $500.00 deposit that I had just made. Jason then stated that with my $500.00 deposit, I would be looking at making about $800.00 to $1,000.00 a month. Jason then had the nerve to ask me what I did for a living. I felt that this was a bit intrusive. Jason also asked if I traded or bought cryptocurrency. At this point I ended our conversation and Jason said that he or another Coinbull manager would be in touch with me. Also, Jason called me from a phone number in Ontario, Canada. This all seemed highly suspicious! The next day I received a phone call from a person named Eugene who stated that he was with Coinbull and that he was my account manager. He then asked me how did I find out about Coinbull. When I told him that it was the only broker listed in Binary Options Auto Trading when I funded my account, he said what are you talking about, binary options is a scam! I then told him that Coinbull was linked to Binary Options Auto Trading and it was my only way to fund the account. I then sent him a screen shot, and he said that he’ll take care of it. Well, at this point I am seeking a total refund.
Meiner Meinung nach kann man mit diesem Broker sehr gutes Geld verdienen. Es war sehr praktisch, auf einer solchen Plattform zu arbeiten, und sie brachten alles ohne Probleme mit.
I am totally new to trading, I joined Universe Market trader about two months ago, they informed me that if I deposit a few thousand pounds, they would do all the trading on my behalf, which I did.They phoned me about once a week informing me that all was well and they were making profit for me.Last week they phoned to inform me that they had made about £27000.I have asked a few times for information as how to log into the website to view my account, no joy, instead the broker phoned me to add a few thousand pounds more to purchase some insurance so as he could trade higher and make a lot more and quicker profit.
I refused, but he said he would see if there was any other way of trading higher without taking bigger risks with my account. Whenever I asked about withdrawal, he always changed the subject.Have you heard of this broker or are they a scam? Your comments would be appreciated….. Thanks
Didn’t Australians deserve a good broker review? We are 25000000 strong. And your standard answer optionrobot.com is a scam, show some proof. Your word means nothing without evidence. New you wouldn’t address any of the issues I brought up. Your word is like gods work and you probably believe in him.
I don’t know about any good binary options broker regulated in Australia, that’s the problem. I have some experience with HighLow, VantageFX and CoreLiquidityMarkets and I cannot recommend any of them, because my personal experience is not good. As simple as that.
Concerning Optionrobot.com, read the linked review, you will find evidence in it, we made a video where you can clearly see that the demo of the robot is manipulated. And if your answer is that the demo can use fake prices because it is a demo, than please spare my time.
Would you be surprised to know that optionrobot.com is licensed through CySec. I only found out today. Why would CySec issue a license to a trading robot!? I know your answer before you say. It’s a scam, that seems to be your standard answer to all questions. I’m not, what you call, a spammer or trying to advertise anything, I’m a 67year old Australian. I’ve been looking at your site for a licensed, trusted and regulated brokers. Every time I selected a site there was no information just IQOptions. You’re aware that Aussies are not welcome. I’ve been doing research on brokers and their appears to be thousands,no, tens of thousands. Your response would be scam and scam to infinity. You don’t recommend one broker that we can use. The only broker you mention, time and time again is IQOptions. Do they pay you commission for your recommendations, it seems strange to me that in the entire world there’s not a single broker that you recommend. Also your word is final, you shoot down anyone who makes a suggestion.I have been in the financial industry for 30+years and I have never come across such a closed minded egotistical person as yourself. What is your claim to fame, can’t see that on your site. Do the world a favour and keep your paid for opinions to yourself.
You started your comment with a big lie, Optionrobot.com is not licensed by the CySEC, because Optionrobot.com is a scam. Therefore I don’t see the need to react to the rest of your comment, just a quick note about IQ Option – show me another reputable and regulated binary options broker with an unlimited free demo and we might list it as well.
And a message to all other people: You don’t have to trust our reviews, if you have any doubts, contact your national financial regulator and check with them whether any investment program is legit or not. I am absolutely certain that you will always get the confirmation of what we say in our reviews.
i am used binary option auto trading robot and losed my 250$….this site is only earning by affiliate programm….and losed all fund of clients………..
Hi John Novak I am an australian who has have been scammed by BINARY OPTION AUTO TRADER who assigned me Utrader broker, when they would not start Auto trading for me I smelt a rat, and tried to withdraw my funds, well what a joke all the bull I got about I not answering my phone issued with fake no,s one was the Dominican Convent the other not connected every time I complained was told it was my fault I think you are right in saying their is no such thin as an auto trading robot I just hope if I can learn to trade manually and build up my account from usd500 I will be able to withdraw I think Urtader is a big well respected trader in Europe
Hi, UTrader is not regulated, in fact, the Financial Conduct Authority from Britain placed this broker on a black list recently: https://thebestbinaryoptionsbrokers.net/fca-published-a-black-list-with-94-binary-options-firms
thanks John you were right on the button when you pointed out some reviewers have been bought out I will do my money by the looks of it happy new year to you
I invested £500 and after an initial “win” I keep losing my money ..now I am down to my basic investment and fearing of losing all that I want out… but they will not return my orginal investment even under the threat of legal pursuants … I bitterly regret at ever getting involved with these companies and WARN others not to do so… you money is not safe
John your not as knowledgeable as you think. Every decent website related to trading binary options has that disclaimer at the bottom, except yours of course! There are plenty of binary options brokers in Australia licensed to ASIC it’s just your knowledge that lacks. Goldrock get off this website and find another!
I am not saying that there are not licensed brokers in Australia, I am saying that in Australia there are no licensed brokers that I could recommend. I have some personal experience with HighLow and Core Liquidity Markets. Both are licensed, but I won’t recommend them because my personal experience with them is not positive. That’s what I’m saying. And concerning disclaimers, our site is full of disclaimers in the shape of articles that warn about binary options scams (more than 700 articles). In every article we repeat that there is no free money in trading, that free systems will lose your money and that to make money in trading you have to learn and build yourself a profitable strategy in testing. And unlike the vast majority of other binary options websites we don’t promote any trading system. I think that we are doing a lot for the raising of the public awarness about how binary options really work.
Firstly, thank you so much for your website, I am sure that it has saved many a soul from losing hard earned cash through fake Binary Option Robots…we need guys like you!
I would however like to make one comment with regard to IQOption. After reading your post about a free demo trading platform with IQOption, I went to thier website to try out thier Demo, however when I tried to Register to open a free account, I received this message on my screen:
“In accordance with the Terms & Conditions, the company is not entitled to provide services to residents of the United States, Russia, Canada, Australia, Belgium, Israel”
I live in Australia, so was excluded from using the free demo platform. I felt it prudent to mention this to others who may reside in the countries mentioned in the above text.
Hi, yes, I know, but unfortunately I don’t know about any binary options broker licensed in Australia that I could recommend.
Okay, thanks but can you give me a book to read on that or any strategy, please John have been ripped and I don’t have anything again,….Please John I look forward to hear from you. Thanks
Hello what legit way can one earn a moderate income monthly, because I was ripped by f** bitcoin scammers, you think there’s scam in binary option, try the cryptocurrency then you’d know this world is truly a wicked world. JOHN any advice? ??
Hi, money can be made in trading, but profitable strategies are not shared in the public domain, because traders are competitors on the markets. So don’t expect to find a free profitable system. You can try to build your own strategy, but it takes time and learning.
Thanks John I now know which one to trade with because here in South Africa scams are like wind blowing all directions……
ITS A GREAT PLEASURE TO HAVE U ON THIS,IF I MAY ASK,ARE MARKET.COM, ETORO, IG TRADING, FX PRO, TRADING 212, ZULU TRADE, SPORTWARE C-TRADER, U-BANKER,ARE THEY REGULATED OR NOT?
Hi, Markets.com, Etoro, IG, FX Pro, Trading 212 are regulated. Zulu Trade apparently is regulated too, but they don’t give enough information, so it doesn’t inspire me confidence. Sportware C-trader is a platform, not a broker. U-banker is not regulated.
hi john, what can u say about OLYMP TRADE?
Hi, Olymp Trade is not regulated, stay away.
hi john, what can u say about XTRADE?
Xtrade is regulated broker, but I don’t recommend it, because recently they had some problems and had their license suspended. Meanwhile XTrade Binary is a scam.
I received an email promoting this bot. It sounds fantastic, a way to make easy money. It does not happen. Investing takes time and education. I have been trading for about 12 months now. I use 1Broker and Etoro. And i do make money. I use copytrading. You will not make money in 1 week. You need to let your investment grow for a min of 12 months. Yes there are people that make alot of money off trading but they study the markets.
Personally i started with $ 500 with 1 Broker and $1000 with Etoro. After 3 months i was making about $ 400 a week
Use common sense folks. Stay away from the get rich quick programs.
I am currently looking out for a legal binary trade app, can you let me know of any and also it would be great if you can review this website as well as per your comments above and a few who do not agree. I am a but skeptical about this below link now.
Hi, I believe that all binary options auto trading systems are scams. If any website is saying that Binary Option Auto Trading software is legit, it is a scam too.
I hope that in a torrential storm of dic*s all these scammers choke on one.
What about EXPERT OPTION? is it reliable? Thanks.
Hi, we don’t have any feedback about Expert Option, but as it is not regulated in any country with a strong binary options regulation, I would stay away.
Thank you for your review with binary options trading. I’m about to sign in but after reading all the comments here, I backed off.
What’s your opinion with xtrade.com?
Hi, Xtrade is a regulated Forex broker, that’s all I can say. But beware of Xtrade Binary, because it is a different thing, nothing to do with the regulated broker.
I will be patiently waiting for a reply, because, I actually opened 2 different platforms just to be sure if the expired trades are axactly the same time as on other plartfoms.
Another strategy that I’m using and it is giving me over 89% win rate daily is as follows: I open binary robot 365 demo and set it on 5min expiry, then on the other hand I Open my IQ in real account then coppy what br365 did, honestly I always in the money.
If you guys don’t believe me on this I can screen shot my real account and unfortunately demo doesn’t keep history but if u are a trader you will notice on my real account that no human can be so accurate using turbo.
Thank you, I’m not a scam, I’m just a boy from south Africa… Thank you
It must be down to some luck, because Binary Robot 365 is using a fake demo. It is based on the White Label Robot scam software, just like dozens of other scams robot. See our review. The robot fakes results only to manipulate losers to winners.
Well said on your side…
But once again, do you know about binary robot 365?
In the demo is doing absolutely winderful., also it goes with all the prices expiry times.
Please explain and help in this case as you have mentioned that demo is also important
Thank you so much for this article! i’m new to trading and almost downloaded the binary option auto trading. I would’ve lost a lot of money if it wasn’t for all the comments. Really appreciate what you’re doing here!
You are just lying, i tried it and it works. So? What do you say now? You are stupid, ok? In 1 hour i made more than €500. Surprised?
No, not suprised, scammers often come to our website to promote their programs with fake reviews.
I am also starting to notice, after a few weeks of reading their reviews, that brokerscamalert by Anna Georgieva is also a scam. If not a scam, she does not mind intentionally misleading users for profits. Very disappointing. She seemed to be the only true reviewer out there.
But your reviews also seem genuine at first glance.
So how am I to know that you re not also a scam site posing as a true reviewer?
It’s simple, all binary options robots, systems and signals services we have reviewed so far were scams. We do not recommend a single one, unlike other review websites that expose some scams but endorse others.
Any advise on binaryrobot365?
Jake Mason’s saffa method working with Plus Options as their broker is also a scam. Last week I funded my account after trying for some time in a demo mode. I would get response within seconds on the questions I asked on live chat while I was on demo mode. The moment I deposited the money, I never got any responses anymore. Some guys pretending to be account manager n senior account manager claimed they have been trying to call be yet that was a lie. I have placed withdrawal requisition and I only imagine the BS of a response I’m gonna get. Stay away from Plus Options and Saffa method. They are scams
I live in Belize Central America and I am a beginner in the binary options industry. I have be researching the industry for about a year now and my findings are similar to yours about this type of online trading.
Can you tell me anything about Ayrex.
I have read that IQoption is not regulated this side of the world Central America
24options my other option , which is regulated by IFSC here in Belize.
Are they any trusted brokers you personally would recommend regulated or not.
Furthermore, I am undecided if I should combine a signal service provider (by Agent Matt of Binary Options Agency) with my manual trading.
Hi, I certainly recommend trading with regulated brokers only. Ayrex is not regulated. 24option is regulated, but they have a bad reputation, the French national regulator banned them in France. No offence, but I believe that financial regulation is stronger in the EU than in Belize. So I think that you are safer with an EU regulated broker like IQ Option.
Concerning signals, so far I haven’t seen any profitable service. If they let you try the signals on a demo, you can do it and see how it works. If not, stay away, certainly don’t start trading signals immediately on a live account.
Anything you know on SPEAR TRADER”. Some said legit and some said scams. Thanks.
Hi, Spear Trader is not regulated, I would stay away.
Am now planning for my retiring,,I tried to log – in to ” binaryoptionautotrading ”..and they forwarded me
to a broker the ” Binary CM “..Is this not a scam ?
Your advice for me will be much appreciated..
Thanks and good day…….
I’m looking for a good BINARY OPTIONS SIGNAL PROVIDER and please tell me if you know some.
Currently I’m trading with IQ Options. Thanks
Hi, I’m sorry but I don’t know about any profitable signals service.
Hi John. Binary Scam Advisor recommends Binary Option Auto Trading as the “only” robot that is NOT a scam? Are they linked in any way? Reading all the comments and your own review, I am now uncertain as whether to even consider them.
Hi, in that case Binary Scam Advisor is a scam website. It seems that they promote Binary Option Auto Trading with an affiliate link. It’s either this or money is free in this world and everybody will quit their jobs thanks to Binary Option Auto Trading. I suggest you ask your national financial regulator about Binary Option Auto Trading, I’m sure they will confirm what I say.
The people working at Banc de Binary are the biggest scamster in binary options. I have learnt the hard way and lost all my savings. The best option is to learn and educate yourself. There is no easy way to make money.
Hi John, thank you very much for your reply.
Hi John, I totally agree with you and appreciate with your work. Is ExpertOption a regulated broker ? Please advise, thanks..
Hi, no, it’s not regulated.
Do you know about EPIX TRADER because every body who writes scam review is telling that this is the most advance AUTO TRADER can you please check this out tks
Hello, it’s just another scam, see our Epix Trader review.
What are you guys talking about here . You guys still try something but you don’t use your brains…WALL STREET ! If there is a robot that can make money automatically why do they go there and work for 8-9 hours or even more selling buying stocks . I Guarantee there is no working auto trading bot. I’ll tell you more that all is scripted so you might make money for the first couple of days before you make a big investment because you sure it works but that’s the moment when you will start loosing your money. DONT INVEST WITH BOTS trade with Account managers or people who know how to analyze the market
Hi John, seems like we all ask about the same but different robots… Do you know anything about Exante? Tnx in advance.
Hi, do you mean exante.eu – the broker?
Hi John how much do you know about Shawn Anthony uses email:[email protected]
Hi, I don’t know him.
this binary world seems full of scammers. I believe you can make money in this world, would like information on how to start and learn binary in safe hands, can you recommend any website to help a total beginner in binary please
Hi, you can start at babypips.com. It’s about Forex, but technical and fundamental analysis is valid for binary options too.
thanks for everything John, you are a wise soul!
Hi, Just a further point IQ Options is regulated, and has great software platform, but for those who not now, this broker the “PUT” or “CALL” option is your decision not a so called ROBOT, I agree with someone else’s comment it may take longer to achieve, but if you make a mistake it is YOUR fault, NOT the ROBOT. However I can tell you my record within 3 hours was £ 105.00, I at this point decided to call it a day, that was from a £10 start, My Point……….. THAT was a great feeling, a ROBOT cannot give you that. SO please take mine JOHN and others advice stay clear of ROBOTS, do it yourself.
24 Options also can be run by you and are regulated, very good, however I personally prefer IQOPTIONS.com, very simple software and you get FREE demo/Practice for life, plus all the backup, videos, etc. Before you ask NO I am not a affiliate, just trying to help as JOHN has, check it out, its your money, your life we all make mistakes, but hopefully this will not be the case. Thanks.
Spot on John, thank you so much, I have been using IQ options for a couple of weeks and it is very hard work, as you need to concentrate, however I was over £300 up in less then a week, but the old greed, kicked in and within minutes I lost it, I have since “clawed my way back” and I am £30 up. But I too thought there must be a easier way, ie. Robots. I signed up with Option Robot.com, for £250 but without trading I realised it was not for me, and I withdrew. Fair play to the broker which was 24 Option I received my money back in 2 days. Just for the people looking at this one thing kept bugging!! me was that optionrobot asked for initial $250, which is around £200 GB, so why would they not accept my £200 deposit. Ask yourself. I was lucky I did not trade and got my money back. But if I had gone on they where already £50 up on my deposit. John great advise keep it going if you help at least 1 person, it is worth it, Thanks again.
Technology or not, I think the old saying still holds true: If it’s too good to be true, it is too good to be true.
Much as I want to earn extra on a much easier way, I simply can’t risk my hard-earned money just the same so I continue to try my best on what I really do best to earn.
Robert, you are the wiser! As John suggests, patiently learning to trade manually is the answer. No ‘open sesame.’ Good luck!
May I offer you my thanks in what you are doing and for no reward or commission, like most of the others who make commissions when you sign up through them, I have only just realised what you are saying is what has been crossing my mind recently!
I signed up with, FashCash.biz and was given Ivory Option as my broker, I did manage to withdraw most of my deposit, except for a little I lost in my own bad trades, then I signed up with Lexington Code and lost some money, not all my deposit, I stopped before that happened, the latest one is Nuvo Finance, this one is fairly new and shows a lot of possibility to make money, so I believed, I made 9 trades and lost 5 of them, I started with £250 and ended up with £203 which I have placed a withdrawal notice, another auto scam down the drain, now I have found John Novak’s site, I wont be losing anymore money on these scams and spammers, all I will be doing in the future will be my own trades, with a strategy that still has to be put into action, but given time and a lot of patience may make a little cash!!
John, if you have any sound strategies you would be willing to pass on to me, you have my email address?
Bravo John Novak, based on my personal experience, you are perfectly right! Despite all their claims, Binary Option Auto Trading (BOAT) is an obvious scam. They collude with brokers to defraud traders. Likewise, despite its so-called reputation, readers should be careful with 24option. Yes, they are a regulated company, but that does not mean that they operate responsibly. Around January 27, 2020, I opened an account with 24option. My intention was to deposit $250, but their representative encouraged me to increase it to $500, promising to give me a 100% bonus. But after depositing the $500, the account manager assigned to me insisted that if they gave me the bonus, 24option would be a joint owner of my account. This means that I would be trading, while they would be sharing whatever profit I make with me. The representative who urged me to increase my deposit to $500 never told me about such a condition. In the end, I did not talk about the bonus again, and they did not give me any.
When I opened my account with 24option, I did so through Binary Option Auto Trading (BOAT). Some websites promote the BOAT software as being fantastic at making profitable trades on behalf of traders. See for example, the website, ‘Binary Option Auto Trading Software Review: A Trusted Automated Platform’ (please also be careful with the owner of that website, Anna Georgieva, who appears to me to have some interest to serve. I posted a comment there about my recent experience with BOAT, but for some strange reason, it disappeared).
Shortly after opening my account with 24option, BOAT informed me that they had installed their trading software on my account and that I should do some setting, which they did not even care to explain to me properly, despite being a new user. Between Jan 30 and Feb 3 2020, while I was still busy trying to complete my account verification process at 24option, I lost access to my account and could not login. When I finally regained access late on Feb 3, I found, to my greatest shock, that my account had been reduced from the original deposit of $500 to $196. I immediately contacted 24option for explanation, but they insisted that I had been trading, which I denied.
On Feb 6 2020, 24option informed me that the BOAT software had been trading on my behalf (without my knowledge). By this time, my account balance had further been reduced to $166. I then complained to BOAT, requesting them to turn off whatever software they had installed on my account. They asked me to login at their website and click a certain button to deactivate, which I did. On that same day, they confirmed to me that the software had been deactivated. Despite that, by Feb 8 2020, my account balance was once more reduced to $165.44.
One does not require the brains of an Einstein to understand that the BOAT software consistently traded losses for me. Also, by shutting me out of my account, they made it impossible for me to quickly discover what was happening until they had substantially depleted my account balance. It also baffles me how trading on my account could have occurred when, according to 24option, ‘in order to start trading you will need to upload a few documents in order for us to verify and approve your trading account.’ Interestingly, since losing my money, 24option has been bombarding me with emails and text messages to complete my account verification process. You can also read users’ comment about 24option at this website – *** (link deleted by admin, because the website promotes scams like Binary Option Robot).
I share in your grievances and wish to thank you for sharing this helpful but sad experience.
I almost got into the same trap but you’ve save me from making the same mistake.
First: I have not signed up yet, I am not affiliated to earn commissions.
Second; I read about Daweda / Broker … A broker Licensed and respected in the world market.
Third: That, Daweda has a semi auto trader, who needs SETTING first before connecting..this Software
Fourth: The customer will have to read the Economic Calendar first, to know the volatility of the day market. Primarily news of the three red bulls of certain currencies., Put stop loss, stop trades, amount of money to apply, how often, choose the less volatile pairs currencies; Etc. etc.
Daweda, would not put this Software to rip the customer money, this would be for a help, for anyone who has notion of Market binaries ..
I’m analyzing for sign up, what’s the opinions here on the Forum?
Daweda is relatively new, only one year old, so it is way too early to talk about respect.
Bonjour, je suis commerçant canadien, depuis près d’un an et je peux vous confirmer que John et son équipe vous donne leur juste, lorsqu’il vous dites c’est un scam, un escroc vous pouvez les croire,
j’ai testé différent Robots et courtiers je me suis fait prendre a faire des test a cause des sites qui font la promotion de courtier malhonnête, je suis heureux d’avoir tombé par hasard sur votre site, car je m’apprêtais a ouvrir un compte avec option robot auto traiding, n’ayant très peu d’information sur eu, je cherchais en savoir un peu plus, merci j’avais un gros doute maintenant que je sais
,Finalement a vous tous qui lisez cette chronique, consulter régulièrement se site, j’ai lu les analyses des courtiers avec qui j’ai ouvert des comptes et c’est la pure vérité sur eux.
The penny millionaire
The lexingtone code
The snapcash binary
The wiki trader
All those were tested by these guys and gave fabulous results.
Check their YouTube channels up there.
The problem sometimes with a legitimate software is a bad broker who does not wanna connect the software to the account bcz it will cost them a lot of money to be paid to you. So they Deactivate some of the algorithms of the software to not let it perform at its best.
But those guys are connected to good brokers, the ones regulated in Europe.
In the other hand the scam softwares are made by the scam brokers in the first place to make you deposit and loose your money.
All these scams use paid actors that appear in a lot of scams under different names. All these scams use fake testiomonials with paid actors from Fiverr and other sources. All these scams use losing software that is used by a lot of scams at the same time, only the name changes, the app remains the same. We prove all this in our reviews. And real users confirm that these scams are losing money.
I am not saying this to you Adsmart, because you obviously are one of the scammers promoting your work here, I am saying this to our readers. You can either believe our reviews, our proofs and real user comments. Or you can believe that there is free money for everyone in the shape of free binary options robots that will end unemployment and poverty in this world for free. What you believe will not change anything for us, unlike scammers we won’t make any money should you believe these binary options robot work or don’t work. Those who say these binary options robots work, promote them in their fake reviews with affiliate links, so they get paid for it.
Ok sir I’am a lier and a deceiver. I’am just promoting links to facing softwares with fake videos to get paid, alright.
2- *** pay attention to the name of the brokers, they are regulated brokers in the UK, go ahead and contact the support of those brokers as many of them as you want, then ask them if they have those systems connected to the clients accounts, then you will find out about the truth.
Now how come regulated brokers would allow scam softwares to be connected to the clients account and cause the customers to loose money, that would be bad reputation for regulated high rank brokers, they would loose business.
If it’s connected to a good broker who activates its algorithms, it simply places trades for you very quick, faster that a human being, with anylisig the trades, the software chooses the high possibility winning ones using the algorithms integrated in it, but that’s with the condition that the broker connects the software to the account and activates the algorithms.
Now if you are a man don’t delete this comment and post it.
I edited your comment, because you are just trying to promote your scams here and we won’t allow that. Now let me address the rest of your comment.
1) There are no regulated binary options brokers in the UK, because binary options are not regulated in the UK as an investment tool. Here is the proof: https://www.fca.org.uk/news/press-releases/fca-proposes-stricter-rules-contract-difference-products – “The FCA is also setting out its vision on a range of policy measures for binary bets that would complement existing conduct of business rules, once these products are brought into the FCA’s regulatory scope.” So you proved again that you are a liar. Now all the binary options only brokers that show a London address are not regulated, the real owners remain hidden, they just bought a postal address in London, they have no real offices there. These brokers participate in many scams.
2) Do you think that anybody really believes your fairy tale about you being so kind that you are investing your time and work in making other people make money for free? We are not that stupid. I repeat, in all our reviews we provide proofs that these programs are scams. These are tangible proofs that you cannot undo or hide. Just one example for all: Wiki Trader that you promote. The sick bit*h who claims to be the CEO of this program calls herself Kelly Wallace and she says that her company created a software called Wiki Trader. But this exact same software is used by dozens of other programs, all saying the same bulls*it about a unique program, see the proof on the picture in the review. What’s more, this same sick bit*h called herself two years ago Sarah Markel, the creator of the Quick Cash trading system based on a secret that her kidnapped husband discovered. It could not be more obvious that these programs are total scams, so stop your bullsh*t!
We are continously receiving real feedback from real people who have fallen for these scams. They all lost their money. You sick motherfu*ker should realize that often you scam people in desperate life situations, who use their last savings with your scams hoping it will save them. These people are often old and/or ill and desperately need money. And you make them lose their last savings. You are destroying lifes! Stop your crimes before it’s too late. You really make me throw up!
I apologize to everybody else for words I have used, but I have seen several people and their lifes destroyed by these scams, because they lost their last or even borrowed money with them. So scammers that are trying to promote their work on our website make me really angry.
Thank you for website John Novak.
It makes a lot of sense. Your website avoided me putting any money down ($250), which I needed to put down first before the “guy” on the phone would deal with me. As I never put the money down, phone calls persisted from his “colleagues”. my data at that point was sold I assume. It was via Banc de Binary, which sounded very legit. And very easy to open an account. But some thing just seemed off, as they were very pushy in wanting me to send the money, they were rushing me, saying I should trade now as I would make money now, so “could I transfer the money today still”.
Cruel Cruel World out there with these scammers.
Hi James, Banc de Binary was so cooperative with scammers that in the end they could not withstand the complaints and had to renounce the EU licence.
I agree 100% with you John – all these scammers should be shot!
bullshit all the names you mentioned are scams -clearly you are getting paid to promote and rip people off – how do you sleep at night
All of you follow this professional trader , his name is Paul : prestigebinaryoptions.
Prestigebinaryoptions is a scam website that promotes scams like Code Fibo and Paul is a scammer.
That’s a lie, I have all the evidence I tried all those software sir.
It seems like you just jump to conclusions and you are not following up with the industry.
Code fibo is amongst the best signal services out there, it’s just a signal service, it used to be an auto trader.
So all these guys are scams:
(Youtube links deleted by admin)
All those systems are tested live, you are just talking without testing anything sir, most likely.
Everything is scam to you.
Let people subscribe to the Channels and find out.
These guys are good in exposing the worst scammers out there and every single scam that get released in every single week.
Try to be realistic and subscribe to these channels so you can be on the top of the industry instead of being close minded.
I have almost 10 guys who are in this industry trying scam software and losing their own money to warn people and present the good systems to them.
A broker can be bad by not connecting the softwares to the accounts or deactivating one or more of the softwares algorithms, do you would thing the software is a scam.
But there are a lot of software scams of course.
If you want more people to follow with their channels , let me know everybody.
Please stop spamming and lying. All the Youtube guys you mentioned are scammers, they promote these scams with affiliate links. Nobody here is so stupid to believe that there are several free money making robots. Free money does not exist. In every review we publish we provide proofs that these programs are scams. We have reviewed more than 400 scams and every time we proved our conclusions.
(Youtube links deleted by admin)
So all these guys are scams .
I got at least 10 professional traders trading full time , they test the scam oft ware with their own money live and they test the good ones live to present them to people.
I just posted 3 only.
The last legitimate software that came out was the Lexington code , a legitimate great software that was tested by these guys, live.
If you want me to post more videos sir let me know.
Excuse me but you are just a liar and scammer. You have sh*t and not a single professional trader. Videos with positive results of Lexington Code and other disgusting scams are faked, because you guys are promoting this crap for money. And you dare coming here promoting your scam?! I repeat, in every review we provide evidence proving that these program are scams. Just read our reviews and you will see.
Automated Day Trading
Here we look at the best automated day trading software 2020 and explain how to use auto trading strategies successfully. Over 75% of stock shares traded on U.S exchanges originate from automated trading systems orders. Known by a variety of names, including mechanical trading systems, algorithmic trading, system trading and expert advisors (EAs), they all work by enabling day traders to input specific rules for trade entries and exits.
Once programmed, your automated day trading software will then automatically execute your trades. Sounds perfect right? You can sit back and wait while you watch that money roll in.
The Best Automated Trading Platforms
Automated Day Trading Explained
You decide on a strategy and rules. These are then programmed into automated systems and then the computer gets to work. The software you can get today is extremely sophisticated.
Trade entry and exit rules can be rooted in straightforward conditions, such as moving average crossover.
However, they can also be built on complex strategies, that necessitate an in-depth understanding of the programme language specific to your platform.
Once the rules are programmed in, automated systems can monitor the markets, deciding whether to buy and sell based on the specific day trading strategy rules you’ve opted for.
Although dependant on your specifications, once a trade is entered, orders for protective stop losses, trailing stops and profit targets will all be automatically generated by your day trading algorithms.
If you’re in a fast moving market, instantaneous order entry could be the difference between a tiny loss and an earth shattering one if the trade were to move against you.
Some advanced automated day trading software will even monitor the news to help make your trades.
Strengths & Weaknesses
- Reduces emotion – One of the biggest benefits of automated day trading algorithms is their ability to remove human emotion. Many day traders will buy and sell based on feelings, automated day trading systems will execute the trade as soon as the specified rules have been met.
- Backtesting ability – Most automated systems will allow you to test your rules and strategy against historical data to test their likelihood of success. This enables you to hone the perfect strategy and iron out any creases before you put real money on the line. It also allows you to determine the system’s expectancy (the amount you can expect to win or lose).
- Speed – Your automated software will give you enhanced order speed entry. Capable of automatically changing to market conditions and generating orders the moment the trade criteria are met. In the day trading game just a few seconds can make a significant difference to the potential win or loss. It will prevent you reaching the profit target or plummeting past a stop level before you’ve even managed to enter an order.
- Consistency – This links back to the emotional element. If you’ve lost on the last four trades, you might get cold feet on the next one. But if that next trade is a huge winner, you’ve just shot yourself in the very expensive foot.
- Cements a winning formula – If you’ve spent years perfecting a winning strategy, then automating it could make it even more efficient. Which could in turn you provide you with greater and more consistent profits.
- Diversity – Automated day trading systems allow you to increase your hand by using multiple accounts and any number of strategies at the same time. This enables you to spread risk over different instruments whilst still hedging against losing positions.
- Over-optimisation – A focus on curve-fitting leads to automated day trading algorithms that should be fantastic in theory, but often fall short of the mark when it comes to live trading. For example; a lot of people fine tune a plan with almost 100% profitable trades that shouldn’t ever experience a drawdown. Apply it to a live market however and it can completely fail. This is why you should stick with low value trades until you’ve ironed out all the creases.
- System gone haywire – Even the best automated day trading software can trigger false trends. As price reacts to unfolding developments a false trend can spiral out of control. This was demonstrated in August 2020 by Knight Capital group; who lost over $440 million in just half an hour when their trading software went rogue in response to market conditions.
- Updates – Your automated day trading software will need updating along with changing market conditions. This means you need someone who knows precisely what they’re doing. This puts you at the unfortunate mercy of whoever it is that writes and updates your software.
- Monitoring – People mistakenly think once they’ve formulated their automated day trading strategies, they can sit back and let the computer do all the heavy lifting.You need to watch out for computer crashes, connectivity issues, unforeseeable market anomalies. Not to mention anything else that may result in missing or duplicated orders.
Even with the best automated software there are several things to keep in mind. Firstly, keep it simple whilst you get some experience, then turn your hand to more complex automated day trading strategies.
Copy Trading might be a solid introduction for beginners to automated trading.
Many automated systems are adjusted to excel in certain markets and for specific trading styles.
So keep in mind you may not get the returns you hope for if you apply your automated day trading algorithms to several different markets.
Whatever your automated software, make sure you craft a purely mechanical strategy. Automated day trading systems cannot make guesses, so remove all discretion.
At a the most basic level, copy trading is a very simple form of automated trading.
With Copy Trading, you can copy the trades of another trader. So by reviewing past performance and specific trade details, you can ‘follow’ a trader, (or better, a group of traders).
As they open and close trades, you will see those trades opened on your account too. You can adjust how much want to invest, so someone with $100 can still follow the trades of someone making $1m trades.
Copy trading means you take no responsibility for opening and closing trades. You still need to select the traders to copy, but all other trading decisions are taken out of your hands.
Copy trading is perhaps the least “hands on” of any automated trading.
Brokers Offering Copy Trading
Finding The Best Automated Software
There is no one size fits all when it comes to automated day trading systems.
It will depend on your needs, the market you wish to apply it to, and how much customisation you want to do yourself.
Skilled traders might even want to develop their own trading software from the ground up, to achieve ultra-fast automated trading that’s entirely customised to their preferences (more on that later).
Below are some of the most popular ready-made automated systems out there:
Developing Your Own Software
If you are unable to find a commercially available software that provides you with the functions you need, then another option is to develop your own proprietary software.
Doing so is easier than ever before thanks to code editing tools such as VIM and online marketplaces that make it easy to find freelancers with the needed skills.
Developing your own software brings with it a number of benefits and risks:
- Complete control over how the software works, looks and feels.
- You can optimise the software to work faster than available commercial software since you can include only the features you need.
- Allows you to build software around complex algorithms.
- Can be expensive if you do not know how to do it yourself. Like most construction projects the final cost usually ends up being higher than initial estimates.
- The software will be untested and is almost certain to contain bugs. Commercial softwares have gone through thousands of hours of testing and are used by thousands of traders, which exposes many problems. Your software might perform in unforeseen ways. Even big commercial operations have had issues with trading robots that carry out surprising trades or are triggered by other robots’ actions to commit large sell-offs.
Research all software available on the market before you decide to develop your own software.
There are two main ways to build your own trading software. Doing it yourself or hiring someone else to design it for you.
Programming the Software Yourself
Designing your own trading software requires a basic understanding of programming as well as knowledge about how to code a trading algorithm.
Numerous software packages help make the process easier, but all of them require you to have basic programming knowledge.
No tool can help with lack of programming skills, but for knowledgeable coders one of the best editors for building your automated trading bot is Vim.
Vim is a universal text editor specifically designed to make it easy to develop your own software. It was created by Vim’s founder, Bram Moolenaar, in 1991.
Vim is based on Bill Joy’s vi text editor. Vim is “charityware” – all its proceeds are used to help children in Uganda. Vim makes it very easy to create and edit software.
Vim is a command-based editor – you use text commands, not menus, to activate different functions.
The command-based interface allows the software to have a very lightweight clean interface while still offering an extensive selection of features.
Vim is suitable for novice and experienced developers alike.
The platform is very popular among software developers due to how easy the tool makes it to overview your code and find bugs before they cause any problems.
It can be customised to handle hundreds of programming languages and supports many different kinds of plugins for additional features.
If you chose to develop the software yourself then you are free to create it almost any way you want.
Your freedom will, however, be restricted by the API (Application Programming Interface) provided by your trading platform.
The API is what allows your trading software to communicate with the trading platform to place orders.
Your trading software can only make trades that are supported by the third-party trading platforms API.
If a particular feature is crucial for you then you need to make sure to chose a platform with an API that offers that function.
Your bot will also have to import market data in some way, possibly in “real time” (with extremely low delay), if your trading algorithm in any way must react to what’s happening right now in the markets.
If trading decisions are based more on fundamental factors and are just waiting for the “right price”, getting market data with millisecond delay might not be essential.
Hiring A Software Builder
If you do not know how to create the software yourself or if you do not have the time to do so, then you will have to hire a third-party freelancer or company.
You can either chose a local developer or a freelancer online. It is easier to communicate with, and reach the desired result, using a local developer that you can see in person.
However, using a freelancer online can be cheaper. It can also allow you to chose a developer that is more experienced in trading software, as this is a fairly unusual skill.
Make sure to hire a skilled developer that can develop a well-functioning stable software. Do not try to get it done as cheaply as possible.
Good trading software is worth its weight in gold. A poorly designed robot can cost you a lot of money and end up being very expensive.
It is essential that you provide the developer with a detailed description of exactly what you expect from the trading software. Include all desired functions in the task description.
Do not assume that anything at all is a given. The developer can not read your mind and might not know or presume the same things you do.
Automated day trading is becoming increasingly popular. However, if you’re going down that route, you must frequently back and forward test your strategy. Let’s be clear though, nothing substitutes carefully executed manual trading.
If you do put your trust in automation, do not get complacent.
This was highlighted in the ‘Market Wizards’ book series by Jack Schwager, when he interviewed successful automated day traders.
All stressed they were highly involved with their automated strategies, so don’t take a back seat to your trading.
The Best Binary Options Broker 2020!
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