OptionRobot is a relatively new trading software market. In this review of OptionRobot, traders will refer to all the benefits and tools that this software provides to their users.
OptionRobot software allows traders to set their trades at any time. Previous training, technical analysis, and knowledge are not required to use this software.
Everything that traders have to do is to register and start trading.
OptionRobot review explores the good and bad sides of this software to help traders to gain better insight into trading binary options. Each review can improve the way they are trading and provide better investment services.
OptionRobot Account Features
It is important to note that OptionRobot software provides a variety of interesting features. One of them is a Demo account that allows traders to test all the tools and features that this software provides to their users. Once you start trading with the Demo account, you will have $ 1,000 virtual money available. The amount of ‘demo money’ may be considered low in the sense that virtual funds are free and serve to test the software.
All traders have 3 trading strategies available:
- Classic Strategy – One of the safest and most used strategies. It is based on traditional binary systems, and as OptionRobot says, most commonly used by beginners
- Martingale Strategy – Usually used for faster profit. This strategy is riskier, however, it can bring faster revenue. It is not recommended for beginners
- Fibonacci Strategy – This strategy is considered to be the most accurate. Trade value is most often determined depending on whether the trader will win or not in a particular trade
All strategies need to be more explored and used at the moment of trading, however, the information provided by OptionRobot are not enough, especially for beginners in trading binary options.Traders also have the opportunity to use six trading indicators to help them deal with specific market circumstances:
- Trend – The Trend Indicator works in a way that it finds an average price trend for a particular asset. If the specific price is higher than the average, this means that the asset is in trend. However, if the current price is lower, the asset is in a downward trend. Many experienced traders use this indicator.
- RSI – RSI or Relative Strenth Index is one of the most popular indicators among professional binary options traders. It measures the momentum of assets by measuring speed and changing prices. Oscillated between 0 and 100.
- Williams – The Williams indicator measures overpaid and multiplier levels. The Williams is very similar to the Stoch Indicator but uses a different calculation method. Many traders use both indicators to be more profitable
- MACD – Moding Average Convergence Divergence is an indicator that uses two moving assets. This indicator shows the average of a given asset in a specific time period and sets the trigger to buy or sell signals. Many traders use it together with another indicator
- Stoch – The Stochastic Indicator was developed in the 50’s and immediately catch up with the traders. The Stoch Indicator differs from the Williams Indicator in measuring and analyzing market failures. Professional traders use them together so they don’t need to trade with bad signals
- CCI – This Indicator is created for commodities trading. It is also tested on other indicators, so it is included on the platform. The indicator shows good results in predicting overbought and oversold assets
Investigating OptionRobot, we could not get complete information about the technology behind this product. It is quite understandable that some things will not be available, but traders can be confused because of the lack of specific information. For example, we are not sure if OptionRobot is traded by human traders or algorithm generates signals.
What we are most looking forward to, as OptionRobot says, is that developers did not just launch the system and let it go. They decided to upgrade and tune up the system to improve it at a higher level. This is also a proof that such a mode of operation can work well and is needed for binary options traders.
After you decide to open your account with OptionRobot, you need to click the ‘Register’ button. Within the registration form, you will be able to choose a broker available for your country. Also, you must enter your first and last name, e-mail address, password, phone number and accept the terms and conditions.
Registration is mandatory for all users, and then traders are able to use the trading interface and start trading through an assigned broker.
OptionRobot software provides a variety of brokers you can use to trade in the financial market. BinaryTilt, 24option, StockPair, Option.FM, Banc De Binary etc. are just some of the offered brokers with which we have been able to open an account. All brokers have a minimum deposit of $ 250, however, OptionRobot recommends a minimum $ 500 order to make the entire trading process simpler and more profitable.
OptionRobot Customer Support
Unfortunately, OptionRobot does not have live customer support. However, on their site, you can find email [email protected] where you can contact them at any time. Due to the many emails, they receive every day, OptionRobot advises us to read FAQ page to find all answers to your questions before sending an email.
E-mail communication can sometimes be very slow, especially in times when you need a quick response. We hope that OptionRobot will implement live customer support as soon as possible to help customers quickly and efficiently respond to the issues they face.
OptionRobot works with tablets and mobile phones adapted to Android and iOS systems. This is very useful because at any time you can monitor your trades and track everything that is happening in the financial market.
The bottom line is that if you are looking for a system that will trade for you and uses different trading styles, this is the right site for you. Also, the variety of indicators and access to the trading interface itself will not leave you indifferent.
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