BinaryRobot365 Review: Outstanding Results from this Binary Options Robot
BinaryRobot365 is not just another piece of trading software: it was programmed to handle most of the challenges that traders have had with most binary options robots in the marketplace. Unreliable trades, poor risk management and lack of any trader control are the key problems with binary options robots. BinaryRobot365 has come up to solve these issues.
Rating section
- Bonuses: 70/100
- Software: 90/100
- Customer Support: 75/100
- Options Choice: 80/100
- Overall: 80/100
Ratings Summary
Bonuses get a score of 80/100 for a reason: the BinaryRobot365 software does not work with brokers that are unregulated. CySEC-regulated brokers do not permit the issuance of bonuses; compliance therefore is a good thing. BinaryRobot365 complies with the regulators’ demands and this is why the score of 80/100 is applied. The software quality is assigned a score of 90/100. Not only does the BinaryRobot365 app deliver returns on investment as claimed, it can be used on a variety of devices and has been improved recently. Customer support, though responsive, is restricted to a few channels. Therefore a score of 75/100 is allocated. In terms of the type of binary options that can be traded, the High/Low is the simplest and easiest contract for a binary options robot to trade. Therefore, a score of 80/100 is applied to this metric.
Company Information
BinaryRobot365 was developed in August 2016 by a UK-based company known as ARG Media. BinaryRobot365 was built to trade High/Low binary options on the regular financial assets as well as cryptocurrencies. Expiry times of trades handled by the BinaryRobot365 app are 60 seconds as well as the Short Term expiries of 2 minutes and 5 minutes. A user poll carried out in 2016 voted BinaryRobot365 as the best binary options robot software. This is a testament to the level of work put into the construction of the robot.
BinaryRobot365 is built to work on the platforms of specific brokers. Majority of the compatible brokers are regulated by CySEC. The compatible platforms are those of the following brokers:
- BinaryOnline
- Tradorax
- FMTrader
- TorOption
- StockPair
- 24Option
- EmpireOption
- BinaryTilt
- PlusOption
BinaryOnline is the latest broker added to this list, in response to the yearnings of traders who wanted to be able to trade contracts with as low as $5 investment. This helps such traders to conform to acceptable risk management standards on small cap accounts.
Assets Traded
The assets that are available for trading with the BinaryRobot365 are assets found on the individual platforms. Some of these platforms have taken on extra assets which were not found on platforms years ago. For instance, some of the platforms mentioned above now offer cryptocurrencies. Here are examples of assets that are traded by the BinaryRobot365 app on the broker platforms.
- Cryptocurrencies: Bitcoin, Litecoin, Ripple, Ethereum.
- Forex: EUR/USD, USD/JPY, GBP/USD, GBP/JPY, USD/CAD, EUR/JPY, EUR/GBP, USD/RUB.
- Stocks: Apple, Baidu, Coca Cola, Microsoft, Google, Yahoo!
- Indices: DJ30, GER30, IBEX35, Nasdaq100, FTSE100, etc.
Bonuses & VIP programs
The bonuses available are broker-dependent. Majority of these brokers are prohibited by law from issuing bonuses. However, it is possible to get other kinds of benefits such as cashbacks. The team behind BinaryRobot365 has been able to negotiate a $100 cashback when trading with some of the brokers in the list. Other brokers such as 24Option, Tradorax and TorOption provide trading bonuses too.
Mobile Trading
Is it possible to trade with BinaryRobot365 on mobile devices? The answer is a resounding YES. Not only can the robot run on the mobile apps of the brokerage platforms, it is also possible to trade with BinaryRobot365 on the platforms of these brokers using the mobile-compliant web platforms.
Deposits and Withdrawals
A recommended deposit of $1000 with any of the brokers listed above is the first step in the process, as the BinaryRobot365 app needs to have capital to work on. Even though traders can start with a minimum of $250, $1000 gives the software a lot of trading room. Deposit and withdrawal methods will differ from one broker to another. Some of the popular methods of deposits and withdrawals are:
- Credit card/debit card: Features brands of VISA, MasterCard and sometimes American Express, Diner’s Club and JCB.
- Bank wires are commonly used among all brokers. However, they are slower and attract fees.
- Digital Wallets: Skrill, Neteller, Webmoney, OKPay and some other country-specific wallets can be used for deposits and withdrawals.
The BinaryRobot365 robot is activated instantly once the deposit has been confirmed by the broker.
Customer Support
BinaryRobot365 provides several channels through which support can be provided to traders and prospects alike. These facilities are as follows:
- Live chat
- Email: [email protected].
- An online contact form.
- Phone: +44(0) 203 865 4812 (9am to 5.30pm)
BinaryRobot365 provides a customer support system which is better than what is obtainable in the industry. Binary options robot vendors rarely provide support, but BinaryRobot365 provides all the support that is required by traders.
Extra Resources and Features
Traders can access some resource materials and features beyond the free copy trade service offered by BinaryRobot365.
- Some of the brokers on the list provide a free demo account.
- Risk management settings which can be customized to control trade exposures.
- The robot’s trading strategies can be customized to provide trading patterns suited to each trader.
Verdict
BinaryRobo365 provides a new perspective on binary options automated trading. There are risk settings which can be customized to ensure that the robot works to achieve the trader’s goals and purposes. Several other advantages exist for the trader. These are as follows:
Pros
- Entries for trades can be manually executed, leaving some element of control in the hands of the trader.
- Demo accounts are available to enable the trader to test the market before real money trading is done.
- The partner brokers on BinaryRobot365 are regulated entities.
- Cryptocurrency trading is also possible using BinaryRobot365.
Cons
- Testimonials by successful users are hard to come by.
- Bonuses are not awarded to traders.
FAQ
This section features the questions that are most frequently asked about BinaryRobot365, its mode of operations and other features. They are as follows:
- I live in the US. Can I subscribe to BinaryRobot365?
Answer: US laws prohibit offshore binary options trading by its citizens. This disqualifies US traders from using BinaryRobot365.
- How much does BinaryRobot365 cost?
Answer: Usage of the BinaryRobot365 robot comes at no cost. All that is required is to make the initial deposit to enjoy free usage of the software.
- I want to be able to trade Bitcoin and other crypto-coins on the BinaryRobot365 platform. Is this possible?
Answer: Yes, cryptocurrencies are listed on some of the compatible platforms. Therefore, traders who sign up with BinaryRobot365 can get access to Bitcoin and Litecoin trading, as well as trading of Ethereum and Ripple.
- What binary options types are traded by the BinaryRobot365 robot?
Answer: BinaryRobot365 robot is designed to trade the High/Low trade types with expiry times of 60 seconds, 2 minutes, 5 minutes and 15 minutes.
- What are the risk management settings on BinaryRobot365?
Answer: Traders can choose between three risk management settings: Classical, Martingale and Fibonacci. These risk settings define the level of aggressiveness displayed by the robot in setting up trades.
- Is it better to trade with a minimum deposit of $250 or $1000 using BinaryRobot365?
Answer: BinaryRobot365 works by trading the capital deposited by the trader. More capital means that more trades can be placed. The team recommends starting off with $1000 as capital, even though it is possible to start with a minimum of $250.
- Are there country restrictions on the usage of the BinaryRobot365 robot?
Answer: BinaryRobot365 cannot be used by traders in certain countries: Israel, US, Belgium, France, Sudan, North Korea, etc.