While we rarely recommend any binary options robots in this blog, Automated Binary is different. Automated Binary is actually an all-in-one trading software that has been improved from time to time again. It supports multiple languages, demo accounts and several trading styles. In this post, we are going to dissect the features and benefits of this software, one by one.
Binary options demo account – what is it?
One of the biggest risk of any newbies to enter the trading world, whether forex, the stock market or binary trading, is the fact you need to bet your real money into a real account. People tend to make mistakes, and therefore this step is very risky. Which is why we highly recommend that you stay away from any binary options broker or trading robot that doesn’t allow you to test the strategies with a demo account first.
Just like the name implies, a demo account is a trial version of any binary broker. All forex brokers are already providing a demo account for their traders, while most legit binary brokers also do the same these days. In a demo account, you will be given thousands of fake money, where you can test the signals, tactics, strategies or even trading robots into play. Yes, you don’t need to spend a dime to learn, make mistakes and figure out the best strategies that work.
Automated Binary can be tested on a demo account first
One of the biggest reasons why we don’t recommend whatever binary trading software being released to the web lately is the fact you are not allowed to test the product on a demo account first. You are required to deposit real money into the broker account, and then let the software trade for you.
However, Automated Binary is different. All the brokers recommended under this software comes with a demo account, which means you can try this robot several times and lose fake money as much as you can.
The features of Automated Binary trading app
- Several brokers to choose from. You can choose whatever brokers that you like. This is somewhat different from other trading software where you need to choose just one broker in order to trade. Automated Binary comes with several brokers, and they are regulated. You can choose whatever broker that you want and start trading.
- Turn on the auto trading mode with just a click of a button. However, the results of this software might vary depending on the users. There are settings that you need to follow.
- Support multiple languages. This software also comes with other languages as well, which is a plus compared to other similar trading robots out there. You can choose from English, Chinese, French, Germany and more.
- Trade currency pairs. There is no option to trade stocks in this software, which could be a minus compared to other binary options broker, but you can trade currency pairs, in other words, EURUSD, EURJPY, EURGBP and more. In case you didn’t know, trading currency pairs are common for forex traders. For example, if the forex trader thinks that EURUSD is going up, then simply choose to buy. Otherwise, if it is going down, choose to sell. In binary options, if the trader thinks that this pair is going up, then choose call. Otherwise, if it is going down, then choose put.
- Automated Binary works on indicators. In case you didn’t know, indicators are used by forex or stock traders to make move in these markets. Indicators make their calculations and allow traders to predict the market movement, whether up or down. In Automated Binary, you can use indicators, such as MACD, RSI, CCI, stochastic or even candlestick pattern, in other words, trading with trends.
- The ability to control your risk. Now, this one is very important. As you can see in the screenshot above, Automated Binary allows anyone to choose the budget for every single trade, from $10 to $250. If you are on low budget, we don’t recommend that you risk more than $20 per trade. And then, there is also risk management features such as classic, martingale or Fibonacci.
Classic, Martingale or Fibonacci – what is it?
In every trading or investing tactics, money management is perhaps one of the most important skills that you cannot neglect. As a matter of fact, what differentiates from a successful trader and losing ones is money management. This is another reason why Automated Binary is recommended by us since it has the ability to control your budget and risk. Automated Binary comes with three different money management settings, such as classic, martingale or Fibonacci.
Classic/Safe: Classic is the default setting for Automated Binary app and this setting is recommended for newbies. For example, if you set Automated Binary to trade based on safe settings, this robot will trade the same amount of money for every single trade. For example, if you choose to risk $10 for each trade, then Automated Binary software will always trade $10 on the line, regardless your winning or losing rate.
Martingale system: This tactic had been used by some gamblers and traders for years. In Martingale system, you simply need to double your risk each time you lose. However, while this tactic could be useful for professional traders, it is not recommended for new traders, unless if you test this tactic properly several times on a demo account.
Accurate/Fibonacci: The accurate system is also called the Fibonacci money management system. Fibonacci was a math expert from the 13th century that showed the world how numbers tend to repeat themselves. In Automated Binary, the Fibonacci management system uses what is known as the Golden Ratio. In other words, the software tries to accurately predict when the assets begin to move up or down.
Other features of Automated Binary
- The ability to view your trading history. If you want to check the results of your recent trades, you can view those within this software. Otherwise, if you want to see the entire results of your trades, you need to login to your broker account.
- This works on mobile devices too. Some users prefer to trade on the move for whatever reasons. That’s where the Automated Binary comes to play. You can log in, trade and view the results of your recent trades on any mobile devices, whether tablets or handphones.
For more information, log on to Automated Binary website.