It is a characteristic of our time that robots perform important tasks in many areas of life. Often they are clearly superior to human abilities. This also applies to stock exchange trading, in which an increasing proportion of trading has been carried out automatically for some time now. The advantage of an automatic trading system lies in the fact that emotions are completely switched off and traded solely on the basis of rational analyses. After a multitude of online brokers offer their services and make it possible for private traders to trade with leveraged products, so-called derivatives, there are now also a number of platforms that offer the settlement of automatic trading. One of these providers is the platform OptionRobot, which specializes in automatic trading with binary options.
As OptionRobot is not an online broker in the true sense of the word, it is first necessary to open a trading account with a regular online broker. OptionRobot cooperates with a number of external providers for trading binary options. In our review we would like to show what customers can expect from this type of trading as well as from this provider. Of course, partner brokers should also be considered, as some details for the valuation depend on their requirements. The question of whether fraud or rip-off is to be expected also plays an important role in our report.
The experiences at a glance
In the following sections, we go into individual aspects of OptionRobot’s offer point by point and want to shed more light on and evaluate the business model. Beyond that naturally also further questions are to be regarded, for instance like deposits and payments take place, which service the customers can expect or whether a bonus can be counted on. In this section, however, we would first like to share with our readers the most important experiences we have gained during our OptionRobot test. Even a superficial glance reveals that this is only a platform that only works if a so-called partner broker is chosen, with whom an own and new trading account must then be opened. The provider cooperates with five different partner brokers and the opening of a trading account can be conveniently started from the OptionRobot website. But also the provider OptionRobot offers its own platform, via which the automatic trading is controlled and individually adapted. Before this background it is quite helpful, if the Trader argues before with the trade of binary options .
The available contents on the Internet sides offer for this however hardly substantial contributions. All in all, the scope of OptionRobot’s Internet offer seems quite manageable. However, a German version of the website is also offered, so that even customers without English language skills will quickly find their way around. The most important questions around the offer and the trade are explained in a FAQ. A clear advantage can be seen in the fact that OptionRobot also offers its customers a demo account. According to the motto “try it and study it”, traders can first test the principle of OptionRobot free of charge and without risk. The platform works flawlessly and offers all functions that are also available in the version with real money. In our experience, extensive experiments should be carried out with the methods of money management and the various indicators in particular. The customers also get an impression of the fact that automatic trading systems do not only produce profits, but also make wrong decisions, which result in losses. For this reason, it makes sense and is also possible to enter trading with moderate amounts. OptionRobot itself does not specify a minimum deposit, but with regard to the available partner brokers a limit of at least 250 Euro deposit applies. How safe these deposits are and how serious the offer is to be evaluated in general, we would like to clarify in the following section.
Provides OptionRobot a serious business model?
In principle, the simple trading principle and the construction of the products stand in a certain contradiction with the trading form of binary options. While in the actual stock trading for the traders it is always comprehensible at which prices were bought and sold, as well as which fees were calculated, the exact conditions with binary options are clearly more difficult to comprehend. It becomes even more difficult for traders to entrust their money to an automatic trading system. In fact, after a phase of trading, it is possible to track which transactions were executed and what the final return was. The basis on which the decisions were made, however, is ultimately hardly clear to the customer. And since the provider OptionRobot is not subject to any external control by an authority, it is above all a matter of trust how seriously the provider is actually assessed. During our test, we found no indications that manipulations were taking place or that fraud or rip-off was to be expected. In our experience, there is also no other information available about this provider. However, the business model can also be classified as serious because we work exclusively with partner brokers who are subject to state regulation.
Trading takes place on the basis of eight currency pairs
In the following section we would like to take a closer look at the concrete offer OptionRobot customers can expect. To say it again clearly, OptionRobot is an automatic trading system, to which customers entrust their money, which is then used according to their personal specifications in trading. For this purpose, various settings and underlyings are possible, which we would like to deal with first. In the connection we throw still another short view of the partners Broker, with which the trade is completed concretely.
Various attitude possibilities and eight currency pairs for the trade
Who already once on own fist with binary options traded, will know that it concerns thereby a technically seen simple affair. A completely different question, however, is to make the right decisions and correctly predict whether the price of a certain underlying asset will rise or fall. The decision is made either from the gut or on the basis of a chart analysis. Traders who leave trading to automatic software, on the other hand, simply set the underlying values to be traded, the indicators to be used and how money management is actually carried out. Eight different combinations are available for the underlyings, i.e. only currency pairs can be traded. These include the combinations of the world’s most heavily traded currencies, i.e. US dollars, euros, British pounds and Japanese yen. In addition, there are the Swiss franc and Canadian dollar currencies. Customers have the choice of which or how many of the currency pairs are to be used in automatic trading. Eight parallel trades, i.e. the use of all available pairs, are also possible. Traders should also think about which system to use for money management. There are three options to choose from. First, the classic system can be set. According to OptionRobot, this is the safest and most reliable system. In principle, the amounts preset by the trader are always used in trading. The so-called Martingale system is much more risky, as it enables faster profits to be made, but is also associated with a high risk of loss. This system is based on the fact that losses are to be compensated by doubling the trading volume. In the case of longer loss series, however, this quickly leads to a complete loss of trading capital. The third variant is the Fibinacci system. Here a precise adjustment of the stake according to the current profit and loss sequence takes place, so that the opportunity and risk are balanced as optimally as possible.
The most important setting can be chosen between various indicators, on the basis of which trading decisions are made. There are six different indicators to choose from. Among other things, you can trade with the classic trend indicator, which focuses above all on the classic market development. The RSI indicator takes the relative strength of an underlying asset into account, i.e. it tries to determine whether a security is over- or under-sold. The Williams indicator follows a similar approach. Another possibility is the MACD indicator, which makes decisions on the basis of two moving averages. The speed of the market development including the stochastic is based on the so-called stoch indicator and as the last indicator the variant CC is available, in which the mean value is used for the forecast. Our experience with OptionRobot has shown that all indicators produce different results, depending on the market situation. In principle, it is also possible to switch several indicators in parallel, which also influences trading results. In any case, the application should first be tested on the basis of a demo account.
Multiple partner brokers available
Automatic trading must also be carried out via a real broker. However, OptionRobot is only a platform where no actual account can be opened. For this reason OptionRobot cooperates with five different partner brokers. These are Tropical Trade, empireoption, BinaryTilt, STOCKPAIR and 24option. And also the choice of the partner broker has a certain influence on trading. Because not all brokers offer the same selection of underlyings and instruments as well as identical returns. In particular, there are minor differences in expiration times that traders should inform themselves about beforehand. In principle, OptionRobot offers 60 seconds, 5 minutes, 15 minutes and 30 minutes 60 minutes. Amounts between 20 euros and 500 euros per transaction can be used.
Bonus for new customers depending on partner Broker possible
An important issue for many traders is the question of whether you as a new customer can expect a so-called deposit bonus. It has to be said that this cannot be answered with regard to the platforms OptionRobot. The account is opened with one of the available partner brokers. It is quite possible that you can also benefit from a bonus. Traders who want such a bonus should therefore inform themselves accordingly in advance. With a deposit bonus, the trader is provided with bonus capital in addition to the paid-in capital, which can be freely used in trading. However, the payout of capital or profits is subject to various conditions. In particular, turnover must be achieved in the corresponding amount. Since time limits often apply for this, it is important to adjust automatic trading accordingly. In principle, however, we do not consider it an absolute disadvantage if no bonus is offered, as the conditions for trading and payments are more transparent in this way.
Inpayments and outpayments are processed via the partner broker
In principle, it is not possible to make a deposit on the platform itself and no outpayments can be made. For this also the partner brokers are responsible like with many other aspects. In our experience, however, traders can assume that there is always a range of methods available. Among other things, any online broker available via OptionRobot can be deposited by credit card. The providers Visa and MasterCard are available. In addition, the online brokers work together with various online service providers for the processing of payments. There are some differences here, whereby providers such as Skrill and Neteller are almost always available. A third option is the classic bank transfer, which is only offered by a few online brokers. This is a method that requires traders to practice patience until the process is completed. It goes against it faster with payments by credit card or E-Wallet.
Security and regulation with all partners Brokers
Also with the evaluation of the factors security and regulation the view goes first to the selected partner Broker. However, OptionRobot assures that it works exclusively with online brokers who are regulated by the Cypriot authority CySec. The main advantage for traders is that strict regulations apply to the management of trading capital. Specifically, these may not be kept together with the company’s funds. In this way, traders can continue to access their money even in the event of the insolvency of their online broker. The partner brokers of OptionRobot can be classified as secure and reliable.
Support with OptionRobot only at a low level
The support that customers can expect from the platform OptionRobot is limited to an absolute minimum. In the corresponding section you will only find an e-mail address where you can send requests to OptionRobot. According to our experience, a quick answer cannot always be expected. However, a live chat is also offered. In addition, it seems to make much more sense to contact the online broker directly, through whom the actual trading is carried out. Normally, an online chat and a direct telephone contact are also available here. For answering customer questions there is also a FAQ area available, in which at least information about the important aspects is given.
Only basic information about website available
In our experience the website of OptionRobot is very clear and therefore in principle also user-friendly. However, and this is a clear limitation, the information about many facets of the offer is limited to a minimum. The explanations of the available indicators are very concise, as is the description of the impact of the variants on money management. Much remains approximate from the customer’s point of view. After all, the vast majority of content is available in German
Mobile App is not required
Most traders nowadays expect that the complete offer can also be accessed at any time on the move. This possibility is always available with OptionRobot. But also in this case the partner brokers have to be considered in addition to the actual platform. The platform can easily be accessed via a mobile device. The settings described here can be made directly to control trading. An app is not necessary and is not available. On the other hand, online brokers also offer an app. However also this is not absolutely necessary actually, if only automatically is to be acted.
Fazit – Automatic trading in several variants with OptionRobot
In another test we took a closer look at the offer of OptionRobot. This platform is an automatic trading system. However, this can only be used in conjunction with an online broker for binary options, whereby a total of five partner brokers are available. The specific terms and conditions also depend on the partner broker selected. However, the most important settings for trading can be made via the platform itself. Here we consider it important to first test via demo account in order to get a feeling for the effectiveness of money management and indicators. In principle, this business model is subject to similar risks as trading in binary options itself. We have not found any indications of fraud or rip-off. This also applies to partner brokers, who are all regulated providers.