OptionRobot is a new entry when it comes to automated binary trading software available to global traders.
One of the first things we discovered in our OptionRobot review was that they accept USA traders which indicates that they have not been regulated.
Traders who wish to start binary option trading but haven’t the necessary knowledge or experience can do so with this trading software.
The necessary requirement is that global traders have to register on OptionRobot platform and simply start trading.
Our OptionRobot review will take a closer look at the process and detail connected to it.
OptionRobot Software Details
As we set out to gather info for our OptionRobot review, we encountered problems since it became increasingly difficult to get a hold of viable information. It is still fairly unclear how this robot obtains data necessary for successful trading. Meaning, we cannot say for certain if it uses trading signals created by expert traders or if it relies more on financial algorithms.
It would be preferable if such important info is stated in a clear manner so all those global traders who are interested in OptionRobot can get all details relating to it.
Another issue we faced is the fact that it seems traders have scarce control over their own funds which is not desirable.
When interested traders go to OptionRobot platform in order to register, they can select how much they want to invest as well as the trading indicator and a method of trading. Yet, this could be improved upon by perhaps adding more options and features which could improve the overall performance of OptionRobot.
Opening an Account with OptionRobot
The process of opening an account with OptionRobot is fairly simple since traders basically have two options – to login or register.
If they haven’t yet registered, then they need to provide their first and last name as well as a password, email and country of residence. They will also be given a selection of four binary options brokers to choose from.
If they are already a holder of the account, thy simply log in by entering their email and password.
OptionRobot Binary Brokers
In our OptionRobot review we have also been able to determine that compatible brokers form a substantial list which includes brokers such as 24option, Option.FM, Bloombex Options, Opteck, Tradorax etc.
While the required minimum deposit with these brokers is $250, the advice on the part of OptionRobot is for global traders to invest $500 in order to have more profitable trading experience.
This, in turn, might point toward the assumption that profitable traders under the advised $500 are not possible with OptionRobot.
Those traders who wish to invest smaller amounts might find this unacceptable.
What to Use on OptionRobot Software?
If global traders decide to start trading with OptionRobot, an access to their trading platform will be given upon the finalized account creation where they can take a look at various trading features.
We were able to find out in our OptionRobot review that traders also have an option to use a demo account which is supplied by $1000 of virtual funds.
OptionRobot software offers several strategies which are:
- Classic strategy – the safest strategy to use, especially for inexperienced traders
- Fibonacci strategy – presents the most precise strategy
- Martingale – strategy that carries the most risk but can also bring the most profit to traders who opt to use it
While all these strategies can be used profitably, we found that the overall lack of information might present a big problem for those traders who are just starting out in binary options trading.
As we have mentioned above, OptionRobot advises to use the maximum amount in trading, which is $500, while the minimum amount for trading is set at $20.
In the course of writing our OptionRobot review, we have come to a conclusion that this auto trading binary options software might be more suited for those global traders with substantial experience in trading.
Information on their trading platform is not overly abundant which might be problematic for those who do not know a lot about binary options trading to begin with.
Additionally, it is only possible to reach OptionRobot via mail which is somewhat limiting and could be improved by introducing live chat too.
It is our opinion that OptionRobot could be approved upon.