BinaDroid is an automated trading robot for binary options, that was released to the public in early 2016. The robot is not owned by any binary options broker, although it works in conjunction with a variety of brokers via whats called an API connection.
BinaDroid Review
There are a few unique aspects of BinaDroid which makes it different than the many scam trading apps that are all over the internet.
Here are a few things you will notice.
- The site is not cluttered with fake testimonials.
- You can choose which broker to use
- The minimum trade size is only $5.
- They work with some licensed brokers.
When you signup to the trading software, you will see next to the registration button the ability to choose a broker. Make sure you choose one of the licensed brokers they work with.
How To Use BinaDroid Automated Trading Software
As you can see in the screenshot above, there are 3 setting available for the trading software.
Number of Positions: Here is where you select how many open positions you want the trading software you have open at any given time.
Choose Risk: Here is where you select which type of binary options the robot should trade on. Next to the High, Moderate and Low settings, you can see the seconds, which are 60 second options, 3 minutes options and 5 minute options. They are all high speed tradings, and it would be nice to see them come out with an option for daily or weekly option trades.
Investment: When comparing this automated trading robot versus the other cheap ones, it is nice that here we can set the software to only trade $5 at a time.
Binary Options Brokers Available
When choosing an automated trading signals software, the problem most people have is finding one that connects to a licensed broker. When we tested BinaDroid on May 2nd, 2016 we see that is it integrated with the licensed and regulated European broker called Banc De Binary.
We did like the warning message that pops up telling you that the software will trade on your behalf. Many people signup for these products and do not realize that they are allowing a robot to access their trading account.
They are constantly adding new brokers to the bot and we look forward to seeing more licensed brokers to choose from.
BinaDroid Results
No matter what anyone tells you, there is no way to know the real results of a trading robot. Each trader enters their own settings so no 2 traders will have the same results. There are too many variables. One person programs the signals to only trade low risk, so their results will be different from a person who chose to use high risk signals.