OptionRobot is an automated binary options signals service that detects trade opportunities in the market, based on market direction. It then executes the classic Up/Down trades on 8 currency pairs: EUR/USD, USD/CAD, EUR/JPY, EUR/GBP, GBP/USD, USD/CHF, USD/JPY and AUD/USD.
OptionRobot offers signals for traders and also allows them to trade automatically from the comfort of their houses, from the beach, or from wherever they may find themselves. The software automatically handles all trade analyses and executions, and the trader just needs to wait for the winning trades. Think of OptionRobot as a money-making machine on auto-pilot, built specifically for the binary options market.
The products and software offered by the OptionRobot team do not require any downloads, can work even when the trader is not online and allows the trader to use multiple accounts with its services, provided those trading accounts are opened via OptionRobot. The products do not work on demo accounts, and will also not work on existing binary options accounts opened with several compatible brokers.
Asset Types Traded
The signals services that are delivered by the OptionRobot service cover eight different currency pairs. Therefore, OptionRobot is built to trade specific currencies in the market.
How It Works
So, how does OptionRobot work?
OptionRobot comes as software which combines several indicators to come up with trading signals. As the trader, you have the choice as to what types of indicators will be used to influence OptionRobot.com trading choices for your account. You can leave all indicators running, or de-activate some if you want. The indicators that OptionRobot.com uses are:
- TREND: Just as the name implies, this indicator looks at overall trends in the market. Option Robot will determine whether the time is ripe to trade Call options or Put options using the Trend Indicator. This is because the software follows the market dictum: “the trend is your friend until it ends”.
- MACD: Often used as a compliment to the TREND indicator, the MACD measures differences between 2 moving averages and plots them against historical data so that accurate forecasts on price direction and momentum of any price moves can be made.
- RSI: The Relative Strength Index component of the indicator is able to detect when the market is overbought or oversold. In simple language, the indicator will be able to sell when prices get too high or buy when prices become low.
- STOCH: The speed and momentum of price changes in the market can also be determined by the OptionRobot using the Stochastics component of the indicator.
- WILLIAMS: Working as a simplified RSI, the Williams %Range indicator can also detect when the market is at price extremes, and therefore will be able to indicate when to sell in overbought conditions or when to buy in oversold conditions.
- CCI: The OptionRobot also has a component known as the Commodity Channel Index, which bases everything off a given average over a length of time, and uses that average to determine trends for the currency pair to be traded.
Using all these indicators, the OptionRobot.com uses three trading styles: Martingale, Fibonacci or the Classic trading style. Of these styles, the Martingale style is the riskiest while the Fibonacci style is the most accurate. The trader can adjust the settings for each indicator manually so as to base the software’s performance on certain indicators. Only when trading conditions on the selected indicators are fulfilled will the software perform trades.
Traders are expected to sign up to OptionRobot signals service for free, join one of the brokers using the affiliate link on the website, and start trading. Signals are sent showing time of commencement of the trade, trade expiry time, direction and strike price. The trader then replicates what is sent on the signal on the broker’s platform after clicking the icon to select the broker to use.
The Up/Down trade is the only trade type performed by the OptionRobot software.
The OptionRobot team claims to make a profit margin of about 72%, which is reasonable considering some of the outlandish claims that there are out there. A number of reviewers have attested to the profitability stats on their own real accounts which were traded with the signals provided by this software.
Honest and open claims on the levels of service are a hallmark of this product. For instance, it has features which seem to suggest that the products are not perfect, but will make the trader enough profit to smile. The fact that there is a feature which allows the trader to use a trade which goes against the signal’s suggested direction is a testament to this.
The special features of the OptionRobot service are as follows:
- OptionRobot allows traders to trade for as low as $5 and as high as $500. This is possible because of the brokers that work with the OptionRobot API system.
- There is a minimum recommended deposit, which ranges between $500 and $1000. This allows traders to be able to set trades with higher investment amounts without assuming too much market risk.
- Traders can set up to 8 simultaneous trades with the OptionRobot software.
- Traders can set up accounts on several compatible brokers and this will all be traded by the software.
There is some honesty about the way the automated service is advertised. The beauty of the service is that there is no charge for using the software. You can, therefore, test the efficacy of the software using the minimum amount stipulated by the various brokers in making your evaluations before committing fully to the project. Also, be careful to use the appropriate risk levels when trading with OptionRobot.