Black Box Robot was the best automated trading robot for Forex CFD’s and binary options, that opened in November 2016. The Black Box Robot is connected with some of the best licensed Forex brokers in the world.
We reviewed this Forex auto-trading robot and immediately noticed how professionally it was made. They took a no nonsense approach when they created it, and we like that there are no flashy videos, or promises of huge profits.
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Choice of Licensed Brokers
Black Box Robot only connects with legal and licensed Forex brokers like: 24option and Opteck.
A huge problem with trading binary options are the many offshore fake brokers who steal peoples money and are not regulated by a government authority. Many trading robots we have reviewed looked good, but they do not work with licensed brokers which means they are a scam.
Black Box Robot Review
It is safe to say that the Black Box Robot is one of the best binary option robots we have reviewed in a long time. When comparing and choosing an automated trading system, the first item we look for is the ability to choose a licensed broker, and the second thing we look at are the settings available for us to configure.
The software comes with four trading strategies based on commonly used technical indicators, and we really love the risk management settings. The ability to set a stop loss and take profits is unique among trading robots.
You can see in the screenshot below, some of the many configuration options available.
Black Box Robot Settings
Trading Strategy: You select from four different trading strategies to use. RSI, Fibonacci, Bollinger and Price Action. The three technical analysis strategies follow widely used indicators for placing trades. The price action strategy looks for unique market events to trade on.
Reverse Trading: This feature is one of the most powerful and greatest aspects of any automated trading robot. While many robots we have reviewed like to boast about their accuracy, we all know that those claims are overstated. The ability to take the signals generated by the software and do the opposite, really puts the user in control.
Risk Management: The five risk management settings are there to let you control your default trade size and minimize losses from bad signals. The Max Concurrent Trades setting is for you to limit, how many open trades are happening at the same time.
Asset Selection: The signals generated by the software are available on 17 currency pairs. The user has the ability to choose which underlying assets the robot should trade for them. The reason asset selection is important is because an algorithm can sometimes work well during normal trading conditions, but will have bad results during volatile markets.
Scam Robot Tricks
Here are a few tricks that scam binary option robots use to get people to use their software:
The Winning Demo: We have seen some binary option robots give you a demo account. The purpose is a demo account it is test the functionality and usability of a product. What the scams do is they make the demo always win, which leads customers to believe that when they deposit real money, they will also always win.
Live Results: Some robots have a “live feed” which shows historical trades, but they are only showing the winning trades, never the losers. Everyone know that past performance is no indication of future results. In the world of fake robots they show fake historical winning results, to make you believe that you will experience the same results.
When you login to the trading room at Black Box Robot, you will see the current open trades, plus the real historical signals and their real results.
At the black box robot, there are so many options to configure the software that no two traders will experience the same results.