There are now many different robots available for trading binary options. The hard part is figuring out which robot actually works, and which robots are a scam.
1. What Are The Real Results?
Many robot providers like to brag about results of 90% accuracy.
The truth is, 90% results can happen when the robot is on a winning streak, but a losing streak of only 40% success rates will wipe out your trading account quickly.
Different brokers offer different returns (see here), so that also effects the performance.
2. Choice of Brokers
As you have already realized from our discussion on broker complaints, it is not smart to use a robot that only works with unlicensed brokers, or brokers with a bad reputation.
Also, never deposit money into a brokerage account until you see the robot’s settings page.
3. The Problems Using Auto Trading Robots.
The terms high frequency trading, algorithms, and automated trading are thrown around Wall Street like they are no big deal. When a Wall Street firm builds a trading system, it is designed by stock market analysts and then back tested to near perfection before it goes live.
The majority of binary option robots give us no idea what the robot is programmed to do. For all we know, it could be just randomly generating trades.
4. Can You Customize the Robot?
You watched a video, or received an email. They told you to just open an account and the robot automatically trades for you. But where are the controls?
Can you pick which assets are traded? Can you choose where the signals come from? Did you know that different brokers have different returns?
Look at the many options available for traders using this robot.
Which Robot Do You Think Traders Choose?
This Robot That You Can Customize
or This Robot With No Options
We constantly get letters from visitors to ScamBroker.com that look like this:
Thank you so much for explaining how binary option robots work, and how the scams rip you off.
Please do your part and share this information with your friends!
Also, be sure to read about the Best Automated Trading Systems.