One of the hardest things about being a binary options trader is that you are constantly bombarded with information and you can easily get distracted while trying to work on your strategy. Once you express an interest in binary options, you will start receiving hundreds of offers from traders you didn’t even know existed. It doesn’t matter if you’re actively trading or AFK. Once they have an e-mail address, third parties can easily send you all sorts of invites and tempt you with profitable opportunities. One of these is the binary options robot – as the name would suggest, it’s a software that does all the trading for you, while you sit back and enjoy. As advertised by its creators, the trader’s implication is minimal, risks are lowered and trading is no longer stressful. But which of these statements are actually true and which are marketing strategies?
The binary options robot is a software that executes trades based on an algorithm developed by human traders. So, the robot is as successful as its makers. In theory, it really is very helpful because the trader no longer has to be physically present, nor does he have to go through all the stress associated with binary options. Beginners are the target market for automated trading strategies, because automated systems make it possible for them to win money without working on a strategy. Of course, some basic degree of knowledge is still required, but automated trading is nowhere near as complicated as manual one. With robots, users can also trade on the go, as most software is compatible with mobile phones and tablets. The average winning rate can get as high as 80%, which is good news for anyone wishing to gain some extra income.
However, the best binary options robot is not always easy to spot. There are a few reliable developers out there, but there is also a lot of fraudulent activity. There have been many cases when people trusted offers they received by e-mail and online ads and ended up losing their money. This usually happens when amateur traders fail to verify the credentials of the selling company or buy the software without installing the demo first. It would be wrong to say that binary option robots cannot be dangerous. They can, if you trust an unreliable seller. They are worth the investment, but only if you are careful whom you trust. There are plenty of review websites where you can read users’ opinions. You need not worry if you have never traded before. Just ask someone if a certain robot is a scam and if you get more replies saying that it is, then you should probably stay away from it. Also, if you cannot find enough information about some software or the website has elusive terms and conditions, this might be the sign of a scam, so take some time to do research. If you cannot find something that matches your requirements from the first time, don’t give up, because there are many options out there.
Copyright 2015 Economic News Articles