The use of binary options robots (‘bots’) and other automated trading software and programs has exploded in the last few years. Here we explain how trading robots work, go over the best services of 2020 and list what users need to know. It will also show you where to get a robot demo account to demonstrate the service and instruct you in using automated trading software and tools.

The best car dealership service for you depends on your personal choice. So read all the facts.

The best robot and auto traders in Africa

How Automated Trading Robots Work

Robot software and automated trading algorithms combine signal services and automated trading. Therefore, the software will identify profitable trades and then place them automatically. This automated element takes the signal service a step further and places the trade instead of actually leaving it up to the trader. These systems offer different levels of risk management, ranging from stop loss to fixed spending daily limits. However, automated factors increase the financial risk of the trader as a whole.

There is also a growing trend for brokers to give traders the ability to set up their own ‘bots’ or automated trading systems. This facilitates the process, whereby traders can “drag” technical indicators into the system. With the best custom robot feature, traders can use the robot as a demo account to demonstrate it risk-free.

Brokers want to promote robots because they create more trading volume, which reduces the risk for brokers. It can be a great tool for traders as well as in binary options. The promise of profit is an immediate ‘red flag’. Like the binary itself, the robot must be fully understood before use and is not a path that guarantees profit.

Will robots make you a better trader?

Sometimes. Trading robots fluctuate just like other trading methods. Similarly, the settings in which the robot operates may become less effective over time. Therefore, you need to constantly monitor the performance.

Undoubtedly, automated trading increases the risk and binary options is already a high-risk investment. However, automated bots that are not checked can experience numerous losing trades, especially where news events affect the market. An event that allows a human trader to withdraw from the market will not stop the automated robot.

This additional risk can be managed to a certain extent. Many robots have a daily loss limit and an overall limit. You can also set it to stop when you reach a certain level of profit. Traders must know all the pitfalls and respect the bots.

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Binary bots at Binary.com

Binary.com also offers the facility to design and operate automated trading robots. As a broker for advanced traders, Binary.com now offers a variety of ‘advanced platforms’, including a binary bot platform (screenshot below).

The platform gives traders the ability to set up automated trading systems. As you might expect from this company, this feature gives you more depth than some of its competitors, and again appeals to advanced users. The criteria you can use to construct an algorithm gives you more choice than anywhere else. This process allows you to build additional complex hierarchies, allowing users to be very specific about the ‘trigger’ of the transaction.

Binary bots follow the look and feel of Binary.com. It is very unique. The visual ‘fluffy’ has been trimmed and replaced with more features and usability (typical of the brand). Check out Binary.com for more information about the platform.

 

Other software for car trading

Automated trading software requires a small manual element to set up, but as the name suggests, trading is automated. This form of trading is usually a lot like robot services. Traders using automated software first configure the software according to the type of transaction they are interested in. Therefore, the level of investment, the type of assets to be traded and the level of risk. Once configured, you can trade the software according to the given settings.

Signals-essential-to-auto-trading

In theory, signals and auto trading are similar. The difference is that the auto trading software starts trading as soon as it finds a signal based on the data analysis. Signal providers simply highlight trading opportunities but leave the actual initiation of the trade to the user.

So automated software generates a signal based on the algorithm you use, and makes and closes trades based on that algorithm.

Copy another trader

There are also services that can initiate trades based on real binary options traders. The presenter provides a list of live traders and publishes the results. The platform user can then copy that trader and choose the level of risk and investment that suits their needs. This kind of ‘almost car deal’ is called a copy deal.

Robot and Auto Trading Scam

The automatic nature of this trading style is at risk. If the trader hands the deal over to someone else, the risk is greatly increased. Our scam pages are detailed to find some red flags (including fraudulent service listings), but especially attract many car dealership scam features. Some reasons are as follows:

  • Beginner Dealer – Car trading software is often aimed at novice dealers or someone who doesn’t have the time or knowledge to trade themselves. This group is probably misleading, so aim for it.
  • Easy to blame traders – linked to the first point. The dishonest provider simply states that the software is abuse free and free of defects.
  • Control – If a trader controls the transaction of another person, it is easy to say that the money is lost in the transaction.

Fraud warnings include a lack of transparency (unverifiable consequences), forcing users to use certain brokers and the most obvious – guaranteed or very high profit promises. If it was easy, everyone would be doing it. Be very careful when dealing with car dealers. The risk of fraud is significant.