Option Robot – Review & User Feedback 2022.
Created by a team of highly experienced software developers in 2014, OptionRobot.com is an automated binary options trading software. This kind of clever technology is built to help traders, by identifying and monitoring trading opportunities, and then actually trading on the users behalf. It’s a particularly good product for newbie traders, who can learn to trade while watching the software work. But it also has a place for more experienced traders too, who might not be a master of a diverse range of different assets, but still want to trade them. This trading software is one of the leading trading robots in the industry and gives traders the choice of connecting to a selected number of binary options brokers. While most binary options trading robots thrive on marketing hype, Option Robot is different as it relies solely on its ability to use popular technical indicators and proven trading strategies to produce favorable trading results. Option Robot is also different from most trading robots in the industry as it allows traders to configure the software as well. Claiming to produce a win rate of as high as 83%, Option Robot is worth taking a closer look at.
1. Software Overview.
Although with an accuracy reaching of up to 83% when on auto trading mode, Option Robot doesn’t claim to offer its users a “magic solution”. Instead, trading signals are based on the use of several technical indicators and predefined trading strategies. Most of the trading robots that are available on the internet today are limited in letting traders adjust the trading parameters. However, this is not the case with Option Robot. Option Robot offers its users the choice to decide which technical indicators which they want to utilize. There is a choice of 6 types of technical indicators to choose from namely CCI, MACD, RSI, Stochastic, Trend and Williams. The Option Robot also allows its users to use more than one technical indicator. In other words, it will only place a trade when both indicators confirm the trading condition. While the use of more than one technical indicator will result in less trading signals, the signals produced will have greater accuracy.
2. Advantages and disadvantages.
Demo provided: You can sign up in just a couple of minutes with Option Robot and they will give you a demo account with 25,000 euros to practice on. A really unique idea for online robots and one that is well worth taking advantage of. Free Software: The software itself is entirely free to access and use. Once you have signed up and are ready to use the real account, you will need to pick from their list of affiliated brokers and then make a deposit. High Wining ratio: As a result of the three clever trading strategies that Option Robot offer their clients to use, the winning ratio is higher than with other binary robot algorithms on the market. There is no track history on the website but that’s where the free demo account comes in handy. See for yourself how many trades you win, as compared to losing trades. Highly configurable Software: The software gives the user a lot of control into how they set it up. As well as a selection of trading strategies, there is also a wide selection of currency types to choose from and timeframes such as the 60 second sniper trade. Wide selection of brokers: There is an excellent selection of brokers you can choose to work with. It’s worth researching which ones you prefer in terms of the platform and additional services offered. No verified trading results: There is no track history on the website, but as mentioned earlier as you can encouraged to first use the demo trading account, you will see the results for yourself. Support available only through email and live chat: There is no phone number available if you have any questions. However live chat is instant and the company promise to get back to you very quickly when you send them an email.
3. Linked Brokers.
BDSwiss – Operational since 2012, this binary trading platform is managed by BD Swiss Holdings, a CySEC regulated broker. The broker offers binary trading in addition to CFDs and spot forex trading. Their binary trading platform is powered by the latest generation of the SpotOption trading platform. Minimum initial deposit requirement for this broker is $250. BinaryMate – A relatively young binary options trading platform owned by a Seychelles based company called Affort Projects S.A, BinaryMate first began operations in 2016. The broker uses a proprietary platform and offers binaries with short, medium and long term expires. Minimum initial deposit requirement for this broker is $300. Opteck – A well established binary options broker that was founded in 2011, Opteck is binary options trading brand that is owned by Centralspot Trading Ltd, a CySEC regulated Cyprus Investment Firm. The broker uses a MarketPulse trading platform and requires a minimum initial deposit of $250 for account opening purposes. StockPair – Established in 2010, the Stock Pair brand is owned by a holding company called NXB Financial Services Ltd. Regulated by the Belize International Financial Services Commission, this broker specializes in offering Pair options. Like most binary brokers in the industry, the broker also requires a minimum initial deposit of $250 to open a live trading account. 10Markets – Established in 2014 by an Anguilla based holding company called Whitestone Group Ltd, 10Markets offers traders the opportunity to trade CFDs and spot forex on its MetaTrader 4 trading platform as well. For binaries, the broker uses the SpotOption powered trading platform that offers different expiry times ranging from 60 seconds to one hour. Opening a live trading account with this broker requires a minimum deposit of $250. Binary Online – Established by Zola Ltd in 2016, this broker uses the latest SpotOption trading platform with all its new features. Offering a maximum return of 85%, this broker requires a minimum deposit of $250 to open a live trading account. Dinero Libre – Operational since 2016, Dinero Libre is a binary options broker that focuses on binary options traders from Latin America. The broker also uses a SpotOption powered trading platform and require a minimum initial deposit of $250 to open a live trading account. ZeusOption – Established only recently in 2016, ZeusOption is a binary options trading brand that belongs to FBR Investments LTD. They are based in London, UK and offers binary trading on the SpotOption powered trading platform. The broker requires a minimum deposit of $250 for anyone who wants to open a live trading account with them.
4. Integrated Strategies.
Apart the ability to choose the type of technical indicators, Option Robot also gives you the option to select the type of trading strategy that you want to implement. This is a trading feature which no other binary options trading robots in the industry has so far been able to offer.
Altogether there are 3 different types of trading strategies that can be applied, “Classic System”, “Martingale System” and “Fibonacci System”. Among the 3 strategies, the Classic system is the safest. The Fibonacci based system however produces a more accurate result. For those with more of a risk appetite, the Martingale based system would be more suited to them as it is designed to produce faster profits but at a higher risk. Other settings which users of the Option Robot can configure are the expiry times and the number of trades that they want to place.
In short, the Option Robot trading software, apart from the manual trading mode, allow its users to trade the markets with 6 different types of technical indicators and 3 different types of trading algorithms.
5. Cost and Success Rate.
As for the cost of utilizing the Option Robot trading software, there is none. The software is available free of charge. However for traders to use the software, they need to have a trading account with one of the linked brokers listed above. These brokers typically require a minimum deposit of $250 before traders are permitted to commerce live trading.
As for the success rate of Option Robot, the developers claim a success rate of up to 83%. Unfortunately, we are unable to ascertain if this ratio is indeed achievable as the developer does not offer any form of verifiable data to back up their claim.
6. Opening an Account.
Opening an account with Option Robot is a two stage process. The first stage requires a potential user to sign up with Option Robot. This is done by clicking on the “Open Account” tab and filling up the registration form. The second stage is to open a live trading account with one of the listed broker on Option Robot’s website. Once the trader has deposited the minimum initial deposit amount he will be able to commence live trading with the Option Robot automated trading software.
7. Should I Use Option Robot?
As to whether you should use Option Robot, this depends entirely on your trading preferences. For beginner traders who lack a solid grasp of binary options trading, the Option Robot might be a good fit for them. However for experienced traders, they may prefer to trade the markets manually and conduct their market analysis based on their own experience and trading knowledge. Nevertheless, among all the automated binary options trading software, Option Robot is one of the better ones as it offers its users more control over how the trades are made.
Option Robot – Review & User Feedback 2022.