There are various combinations of binary options robots and BinBot Pro is one of the new versions that is available for traders worldwide. This free auto trader has become available somewhere in 2016 allowing traders to trade binary options without the need of calculating the signals alone.
In order to find out more about BinBot Pro, read our analysis and find if it is genuine software or just another scam software.
What is BinBot Pro Software?
In order to find out more about BinBot Pro, traders should first find out what this software is for. According to their agent, BinBot Pro is a free binary options software that helps traders make profit fast and easy. This information was not found on their site, but it was provided by their customer support agent.
BinBot Pro is able to research the financial market and calculate the binary signals which are then sent to BinBot Pro platform. After the signals are sent to the platform, they are automatically executed on trader’s behalf. This binary options software is fully automated which means trader just needs to register, choose a broker of his choice and make a deposit with a broker.
BinBot Pro is able to execute trades even when a trader goes offline. A trader can deactivate auto trading option before he goes offline and this way his trades are being protected. One of the benefits of this software is the ability to trade manually. This reminds us of BinaryOptionsRobot software which allows traders to choose between manual or semi-automated trading.
How can BinBot Pro Analyze the Market?
The software is based on advanced binary options algorithms that are programmed to have the deep analysis of the financial market. This means that BinBot Pro tracks the value movements of the broad range of underlying assets. The software constantly searches for the potential trends and according to its algorithms, it executes the trades accordingly.
According to the BinBot Pro, the calculations are also compared with historical data from previous trades and this way the software hopefully makes even better trading results.
Is BinBot Pro a Scam Binary Options Software?
During our BinBot Pro analysis, we have been analyzing their official website and we have opened a trading account in order to check the robot platform and its features. Our BinaryOptionRobot review team has also contacted BinBot Pro customer support and asked several technical questions that helped us to get more insights about this software.
Most traders usually ask if the BinBot Pro is a scam robot. According to our analysis, we haven’t found any suspicious things that might indicate BinBot Pro is a scam. Their website was pretty clear, except traders can’t find a lot of useful information about the software. We haven’t found any guides or FAQ that explains more about this auto trader.
The usual indicator of a scam software is the lack of a customer support, but BinBot Pro supports its traders with prompt live chat agents that are available even before you register with the robot.
BinBot Pro Offers Free Demo Account
After a free and quick registration with BinBot Pro, traders will be able to practice their trading skills on free demo account that is available right after you login with the software. The demo account helps traders to get familiar with the dashboard and its features. BinBot Pro demo comes with the virtual $1,000. The demo platform looks authentic like a real BinBot Pro account.
During our conversation with BinBot Pro agent, we have found out that traders can start using a demo only after they make a deposit with one of the available brokers. We found this as a disadvantage because basically, traders have to pay in order to test the platform. The BinBot Pro dashboard is visible, but you can’t make any practice before your demo isn’t activated.
BinBot Pro Assets and Available Features
Traders who decide to register and trade with BinBot Pro software have the opportunity to trade with several currency pairs only. The robot offers only eight available underlying assets and this might bother those traders that are used to trade with various assets. BinBot Pro available assets are:
We haven’t quite understood the features available with BinBot Pro software. The agent we were talking about didn’t know much about the features and we couldn’t reach the information because we didn’t activate the account. From what we could see, traders have the opportunity to create their own binary robot. After they have found their account traders have the option to create a special and customized binary robot that will generate binary signals according to the settings set by a trader.
There are several indicators traders can adjust in order to define the best settings. Traders can name their BinBot Pro robot and decide if they want it to be public for other BinBot Pro traders. The most successful robot are presented on BinBot Pro dashboard and other traders can use it for trading.
In order to set their BinBot Pro robot, traders can set ADM Index, Commodity Channel Index Momentum, RSI, RMI and AROON indicator. Traders must select at least three indicators. Traders can also select preferred asset and expiry time for the trades. After everything is being set, traders can save their BinBot Pro robot and start trading with it.
If traders want to use other robot settings, they can choose one one of the top 10 robots available on BinBot Pro dashboard. Traders can choose the robot according to the profit rate and description presented with each robot.
Is it Safe to Deposit and Start Trading with BinBot Pro?
In order to start trading with BinBot Pro traders first have to register for free. After the registration, traders will be able to choose between several binary brokers. After our conversation with BinBot Pro agent, we have found out traders can register only with two brokers: Finpari and BinaryMate. According to the site, BinaryMate is allegedly available for US traders.
Traders can’t trade with both brokers on the same BinBot Pro platform. As confirmed by BinBot Pro agent, traders can register with two BinBot Pro accounts and trade with different brokers. We don’t find this convenient.
If you are searching for a binary options robot that will execute trades but let you have the final decision about each trade, we can mention other binary products that are able to do that. One of the robots that allow you to have a full control and overview of your portfolio is a well-known BinaryOptionsRobot that trades with more brokers and some of them are regulated too. We are not sure that BinBot Pro can provide successful trades because we don’t even know that it provides transparent information about executed trades. Brokers offered by this software are not regulated by any regulatory body and they are not safe for traders.
We hope that we have answered all your questions about this software. This analysis should help you decide if BinBot Pro is a scam software and is it safe for trading.