OptionRobot is one of the latest binary options software available on the financial market worldwide. Being one of the most attractive binary options brands these days, we delve deep in OptionRobot review to bring you both the good and the bad aspects of this binary software.
One thing most traders will admire about OptionRobot is the fact that trades can be placed at any time, even during periods when the financial markets are closed. Trading with this binary robot is fairly easy and according to OptionRobot site, traders don’t need to have any prior knowledge about using it neither do they need to be experts in analyzing the financial markets.
All you need to trade with this binary robot is to register and invest with a broker of your choice. We hope that this review about OptionRobot review will give you more insights on the working of the software and you will have able to get a good grip on your important strategies that will make you better trading experience.
About OptionRobot Binary Software
We were unable to find adequate information which could help traders understand how the OptionRobot works. From what we gathered during our OptionRobot review, we can only make assumptions that the software relies on computer algorithms to give signals used to automatically place trades, instead of having a human trader do the same.
Our review team joined OptionRobot software with the sole purpose of getting inside information to educate potential traders who would love to add this binary robot to their trading arsenal. Once we logged into the OptionRobot software, it was immediately evident that traders don’t enjoy much control over their investments.
The OptionRobot will allow you to choose your preferred deposit amount and the indicators, as well as the trading method you desire them to use. Normally, there are a variety of products that can be traded, but this is not what is happening with OptionRobot software. It is very poor in terms of customization and it also lacks more tools that would ordinarily make binary option trading fun and interesting.
Opening an Account with OptionRobot Software
When you decide to trade with this binary robot, the OptionRobot software will present you with a Register page to get you started. You will then give you personal information then agree to their terms and conditions before you can start. It is important that you read OptionRobot terms and conditions, and while going through it, we are pleased to let you know that we didn’t find any vague terms or clauses that could be potentially confusing to the traders.
Upon registration, the OptionRobot software will invite you to connect with at least four brokers-: Tropical Trade, StockPair, Binary Tilt and Banc de Binary. However, we later discovered that the OptionRobot supports more than 15 brokers and this allows traders more versatility when it comes to the choice of binary brokers. We were delighted that we managed to register with OptionRobot in just a few moments.
OptionRobot Brokers
We were quite happy with the number of binary brokers available on the OptionRobot portfolio and in addition to the ones we already mentioned, the following are some of the brokers traders can use with this binary software:
- BDSwiss
- uBinary
- Opteck
- 24option
- StockPair
- Tradorax
- BinaryTilt
- EmpireOption
- DineroLibre
- FMTrader
- MarketsTrading
For a trader to trade with any of the mentioned brokers, they will be required to register a real account with the broker and make the required deposit based on the particular account type opened. OptionRobot recommends a deposit of $500, though most brokers in the industry, including the ones listed here, will accept deposits from $250. Since $500 is a lot of money, this could turn off a lot of potential investors who might be interested in trying out the software. From this perspective, we strongly believe that OptionRobot will be ideal for experienced traders who have no problem in making such huge investments.
Suppose you already have an account supported with OptionRobot, you will be forced to register again via the OptionRobot interface for you to have the ability to trade with that broker. But this should be a normal procedure, just like when dealing with other binary robots.
Trading Tools for OptionRobot
For new traders with zero experience in trading with automated robots, you will be pleased to learn that OptionRobot has a demo account for traders just like you to practice with. From the left side of the interface, you can easily switch from demo to real one you think that you have gained the necessary experience to go live. With a demo account, you will be welcomed with $1000 in virtual currency for you to play around with as you learn the software.
OptionRobot Trading Methods
OptionRobot review has shown this software has different indicators, trading methods and expiry times. It also comes with additional services such as the highest number of simultaneous trades you are interested in placing and traders are free to define any amount of trades they want from $5 to $500.
Expiry times in OptionRobot are pretty short and this is ideal for traders who prefer volatile trading strategies. With this binary robot, traders will have only five expiry time methods: 5 minutes, 3 minutes, 2 minutes, 90 seconds and 60 seconds.
For the experienced traders, you will be excited to know that you have up to three different methods for trading with this binary software and these include Fibonacci, Martingale, and Classic. Each of these trading methods will allow you to use various trading amounts. If you are just beginner, then it is highly recommended that you stick to the classic method and only graduate to the others once you have some experience.
The OptionRobot review found traders can also set multiple indicators and these are ideal for traders who have a good grasp of what they are doing. The indicators include the trend, RSI, CCI, Stoch, MACD amongst others. As we noted earlier, OptionRobot seems to be designed for traders with some good experience in the binary option industry, and new traders may not find it very useful, especially at the beginning.
OptionRobot Conclusion
Though OptionRobot seems to suite the experienced trader, it was fun testing out and we can admit that it is one of the few robots that are completely automated for trading binary options. Bad news for beginners is that before they reap the benefits of this software, they will have to build their binary knowledge first.
This is because most of its features will not make sense and thus it won’t be beneficial in helping the inexperienced traders make winning trades. Before placing any real trades with OptionRobot software, it is important that traders are familiar that binary options include certain risks.
OptionRobot review hasn’t found live chat support in OptionRobot, but you can get support through email. Email support might sometimes be slow compared to chat, but ultimately, you will still get a correct response.