BinBot Pro Review

BinBot Pro Review: It is safe to say that where binary trading systems are concerned, we have pretty much seen it all. Legit ones, mediocre ones, big brands, and even some awkwardly named ones that leave you wondering if the creators are even serious in the first place. One of those is BinBot Pro software, which was introduced in October 2016. Well advertised and with a sleek website, is this binary software worthy of your time, and money? That’s exactly what we set out to establish in this review.

BinBot Pro Review

Basically, BinBot Pro is an automated trading system dealing in binary options and promises traders of huge returns through the automated robot with basically no effort on their part. The robot deals exclusively with currency pairs – mostly the most common ones such as EURUSD, USDGBP, USDJPY and USDCAD. The site is registered in the UK and accepts international traders with the exception of those from countries with strict online trading laws such as US and China. BinBot Pro typically filters through lots of market data and tries to deduct a trend then places some trades according to the trend. For instance, if the overall asset prices are rising, the system will place Call options and vice versa. The official site contains virtually no information on and exactly the system does all that and traders are expected to believe what they read. No questions. No explanations. Simple as that.

Unlike most trading systems, BinBot Pro is 100% web based and no app or software downloads are required, which can be a good or a bad thing depending on individual preferences. Another unique feature about BinBot Pro is that it offers something for every trader. After signing up, one gets to choose the group of robots they want to work with. Basically, there are three types of BinBot robots – Bronze robots, Silver robots and Gold robots. Each of these robots has its own unique features, including trading methods, and benefits as explained below.

Bronze robots

This is the most basic group of robots and includes 3 trading strategies, namely%

  1. a) Strong US v2 – which has a success rate of 60% on all trades.
  2. b) BladeRunner – with a 70% hit rate.
  3. c) Rising East v1. 2 – with a 65% success rate.

Silver Robots

Middle level robot type and includes trading strategies that are relatively effective.

  1. a) Bolly Band Bounce – Alleged to be highly successful and that it increases your earnings by 110%.
  2. b) Bullish Intervention – Said to be very much effective and is rated as 120% successful.

Gold robot

Being a premium level robot, the Gold robot requires higher deposits and gives back equally higher returns. It includes only one strategy – the Neuroscanner v3.0 which, at algo level 10, is considered the most sophisticated trading algorithm in the market. The Neuroscanner has core 3 dual processor which can analyze millions of trading options in record time.

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1Sounds great, where do I get a Binary Option Robot?
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2Open a Binary Option Robot Account
I recommend that serious traders, open a number of different accounts with the different Binary Option Robots, listed. The reason for this is simple: anyone with knowledge of the market understands that you must spread your risk over as wider area as possible, no matter how good the system, if you put all your eggs in one basket, you run the risk of losing everything. Thus, as with everything else, you should spread your risk over a number of Binary Option Robots, to maximise potential profit and prevent loss. Each one of the Binary Option Robot suggested in this article, has been rigorously tested, regulated, licenced and approved for the territories listed in the drop-down menu.
3Binary Option Robot – How they work in practise
Binary Option Robot

1. Your Binary Option Robot will analyse the market and decide, which asset (currencies, indices, commodities and stocks), is right to trade at that point in time.

Binary Option Robot

2. The Binary Option Robot Will Predict the Price Movement

Your robot will assess a wide-range of factors, and then make a prediction on how the assets price will move, saying: Call (up) if it believes the price will rise and Put (down), if it believes the price will fall.

Binary Option Robot

3. Decide on how much you want to Invest

Then you need to decide how much you want to invest in the commodity and when that investment will expire.

Binary Option Robot

4. Collect your Earnings

Finally, you collect your earnings (the good part!)

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Registration Fees

At this time, it is very rare to see a trading system that charges registration or subscription fees. The market is too saturated to allow that – subscription sites would get kicked under the carpet by the other sites which are free. But as usual, the human mind has great imaginative power and site owners have found some ways to make traders ‘pay’ for their services, indirectly of course. What you won’t pay in registration or subscription fees will be subtracted from your bank account when you make some losses due to deliberate efforts by the software. Everyone knows that this money goes to the brokers, who in turn share them with the trading sites.

To cut the long story short, BinBot Pro, like many others, is for the most part free of charge. You won’t be charged anything to open an account, which is a very simple process by the way, but you will of course have to deposit some cash to your broker account to get started. However, unlike with other auto traders with standard accounts across the board, the initial (and subsequent) deposit depends on the selected robot type. The required deposit ranges from the standard $250 for the bronze robots, to a modest $1,000 for the Silver robot to a premium $3,000 for the Gold robot. Of course the deposits are made to the selected broker’s account and, unbeknownst to most traders, some is channeled back to the site in form of commissions. Capitalism sucks, right?

Brokers

One of the things we focus on while reviewing an auto trader is the number, and calibre of brokers available on the platform. In most cases, auto traders in partnerships with regulated brokers are legit as they come. Fewer complaints are made about them, compared to ones associating with questionable brokers. BinaBot Pro’s performance in this aspect is average at best. One, they features a limited number of brokers – so limited that when you count them with the fingers of one hand, you’ll be left with more fingers than the count. In simple terms, there are only two brokers available on the BinaBot Pro platform. If we have to spell it out, this effectively reduces the consumer sovereignty to a decision between two brokers, none of who is licensed and therefore unsuitable to be mentioned on our highly respected site.

To their credit, at least they tried and gave us brokers whose names don’t give us trouble pronouncing. But still, the calibre is still far from good, and average sucks. Big time.

BinBot Pro User Ineterface

User interface

We would most certainly not put BinaBot Pro anywhere near our top 10 auto traders and not just because we find the name somewhat corny. Nonetheless, the site is very well presented with a nice and alluring color theme that infuses light and dark colors to great results. It is said that people are more likely to buy colorfully packaged products of low quality than badly packaged high quality products. Despite BinaBot Pro not being a premium software, or even anything close to that, it is packaged and sold as one, which makes it easy to convince traders to give it a try.

Most importantly, the user interface is very simplistic and easy to navigate. Even for new traders, it is almost impossible to lose your way through the site as the main instructions are clear and in conspicuous colors. The drop down menu, which more or less shows all the site’s pages, is found on the top left corner and very easy to find.

Another feature that the site scores highly on is the large variety of features available for selection. For instance, the site allows traders to select their preferred transaction currency, the robot type and even the technical charts and graphs. Surprising, there is a trading history feature where traders get to track their past trades and the outcomes, which comes in handy in making future decisions.

Should you trust BinaBot Pro?

Admittedly, we don’t know much about the auto trader, which is most certainly not our fault, so we can’t really recommend it to you. First, the site is very economical with information relating to the system and only gives general details which borders on common knowledge. Another thing is the varying payouts between the different robots, with some giving payouts as low as 60%, which are not even guaranteed. Considering that there are other auto traders offering higher returns, we can safely say that BinaBot Pro does not give any value for money, and time. It is also the first time we are hearing about robots integrated into the system and we are not certified with the explanations we got, which sound made up.

The minimal choices when it comes to brokers is also a big letdown and looks like the creators of BinaBot Pro have never heard of consumer sovereignty or democracy in general. That the listed brokers are not even licensed does not help at all. We are totally against blindly trusting unregulated brokers with your money no matter what. It doesn’t matter if the software itself is 100% credible, if the brokers are not recognized by law, we say run. And in this case, it’s a marathon.

BinBot Pro Steps

Conclusion

To summarize, we like the overall appearance of BinaBot Pro and the good grammar on the site. That said, the above mentioned features overshadow all that and leaves us with a bad taste in the mouth, which translates to zero trust and a not-so-positive conclusion. Not to worry though, we found an alternative to BinaBot Pro in Option Robot, one of the most popular auto traders right now. Option Robot offers a robust asset index and has an extensive list of brokers, most, if not all, of which are licensed and regulated. And it doesn’t stop there, the site lays everything open, including the finer details of how the software works and runs a regularly updated blog which is a great source of binary options knowledge. To cap it all off, Option Robot has some great payouts which are standard and not dependent on account type. The customer care is also brilliant and very helpful.

As a matter of fact, if you have had an Option Robot experience, you won’t come close to BinaBot Pro with a 20 feet pole.

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References and Further Reading

  1. Algorithmic trading and the market for liquidity
  2. Automated trading with performance weighted random forests and seasonality
  3. A material political economy: Automated Trading Desk and price prediction in high-frequency trading
  4. Moore’s Law Versus Murphy’s Law: Algorithmic trading and its discontents
  5. High frequency trading and the new market makers
  6. Empirical evaluation of an automated intraday stock recommendation system incorporating both market data and textual news
  7. What do we know about high-frequency trading?
  8. Quality Individual Stock Investing Versus Index Investing
  9. Effects of Index‐Fund Investing On Commodity Futures Prices
  10. Portfolio optimization for index investing based on self-organizing neural network
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Author: Michael Allen

Michael Allen is the main author at www.binaryoptionrobotinfo.com. He holds a PhD in Economics and has worked in investment banking for 24 years.