Definition – Binary Options Signals: Essentially a trading signal is an alert given to you by another trader or by a trading software telling you when to enter and/or exit a trade. In a classic set-up, a seasoned trader will examine the markets using his chosen strategy, usually based on chart technical analysis, and determine the best moment to enter a trade. When a trade entry is determined, he will then send out his signal to all the traders who are subscribed to his service. For the sake of simplicity, let’s call the seasoned trader the “Signal Provider” while the copying traders are his “Subscribers.”
The Signal Provider can send out a wide variety of signals depending on his chosen trading style. He might only transmit daily signals which expire once the market closes at the end of the trading day. Or he can transmit signals on an hourly, half-hourly or even minute time frame. Some Signal Providers can send dozens of signals per day.
Definition – Binary Options Robots: Also referred to as forex trading robots or just trading robots. In this model, the negatives associated with signals are eliminated; No copying over the internet and having to deal with differences in accounts or slippage due to timing differences. Instead, the Signal Provider’s entire strategy is encapsulated inside a piece of software, the trading robot.
Below are some of the more reputable trading robots on the market. Many of these are used by our very own staff in their own trading accounts and stand apart from the hundreds of other trading robots that we have reviewed:
The Best Binary Options Robots
Neo2 (Neo Squared): by Dr. Jack Piers, PhD, Programmer Amit Gupta, Auto-Trading Expert Michael Freeman and William Van Loon Investor and CFO . This sophisticated trading robot makes use of algorithms based on weather and solar forecasting. It’s performance has so far been impressive and is quickly spreading in the day trading community. Read our Neo2 review for more info.
Dow Jones Focus Group: by Equinox software has been one of the top performing robots in recent memory. It is our current #1 choice. Many on our staff have experienced consistent win rates of up to 85% over several months of trading, across many hundreds of trades. For more information, visit ForexBonus100’s Dow Jones Focus Group review.
BinaDroid: AKA BinaBot by veteran trader Troy Everett reached 88% In-The-Money (ITM) win rate in our testing! This is truly an amazing piece of software and might move to our number 1 choice if it’s performance continues to hold up over the next few months. Many traders have been raving about this one. Read our BinaDroid review for more info!
VirtNext: This trading robot is also excellent, with current win rates around 83% over several months. Both members of our own staff and many of our readers have been raving about this bot since last year. It’s been fully tested and comes highly recommended. Read our VirtNext review.
Copy Buffet: is a great binary options robot for those traders who like a ton of daily action – up to 500 trades per day! It was put together by widely respected trader and programmer Jeremy Fin and is highly consistent, with win rate hovering around 82%. It is quickly becoming one of the industry’s top rated robots. For more information, read ForexBonus100’s Copy Buffet review.
Other Good Choices
The following forex robots have been tested by us, our readers and other trader groups and have shown solid gains of anywhere from 70% to 85% on a fairly consistent basis. If for some reason you want to bypass the Top 3 choices, then any of the following can serve you well:
More on Binary Options Signals: Not too long ago, signals used to be delivered to subscribers via phone, email or sms. But these days the modern method of direct terminal copying is often employed. For example, the Signal Provider will make a trade on his trading terminal and that trade will instantly be copied over the internet to his Subscribers who are using the same trading software. The Signal Provider and subscribers could all be using different brokers and even have different leverage, equity and margin levels on their respective accounts. And this is where things get a bit tricky. The copying software should ideally calculate the differences in leverage, equity and margin and adjust the number of lots the subscriber will trade. For example, the Signal Provider might trade 10 lots in a given trade but one of his subscribers will only trade 1 lot and another 15 lots due to the differences between all their accounts. Issues arise when the differences between accounts are significant. The copying may not be scaled up or down perfectly. Sometimes the software will block a trade entirely on a Subscriber account. Other times, the trade might be copied but a winning trade for the Signal Provider can turn into a losing trade for a Subscriber if the latter’s account suffers a margin call due to low equity or other issues. Other times, there is a significant enough delay in the signals copying which, combined with slippage or spreads, can again turn a winning trade into a losing one.
More on Binary Options Robots: Unlike a signal copying system, a trading robot either resides on the Subscriber’s own computer/trading platform or resides with the Subscriber’s broker. Another huge advantage is that a trading robot can be set to full automated mode and trading can occur without the Subscriber even being present – he or she could be asleep or on vacation and trading continues. To use a trading robot, a Subscriber does not even need to have any knowledge of trading whatsoever. He can just buy the robot, fund his broker account and turn it on and be trading within minutes!
The only major negative with binary options robots is that the vast majority of them are scams! Many unscrupulous marketers just hire a programmer and slap together a trading robot that might have a polished interface but under the hood the actual trading strategy is a loser. After all, that is the hardest problem to solve – coming up with a winning trading strategy! Fortunately, there are some reputable forex robots out there and we at ForexBonus100 do our best to separate the wheat from the chaff for our readers. Just see above for our Top Picks.
Let the Robot Do the Work!
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