There is no specific regulation set for binary options robots, but depending on the provider of the given service, there are those that are actually regulated.
For instance, most binary options brokers are run by holding companies that have obtained financial derivatives trading licenses from various regulatory bodies. The most common regulators of binary options trading companies are the Cyprus Securities and Exchange Commission “CySEC”, and UK’s Financial Conduct Authority “FCA”.
In Australia, binary options brokers are regulated by ASIC whereas FSB is the body that oversees the market in South Africa. FSA does the same job in Japan whereas NFA and CFTC regulate exchange-traded binary options in the US.
So the list is long, but if you check closely, there is no specific mention of binary options robots. However, some of the robots such are run by financial trading companies that are regulated by one or more of the various regulatory bodies. This ties them to a fully licensed and regulated company unlike in most cases where the providers of the binary options robot barely have a place to call office.
So when a binary options robot is offered as one of the products of a fully licensed company, it is right to say that the robot has legal status. Nonetheless, it’s important to make sure that it’s clearly stated in the copyright section that the particular binary options robot is a product of the licensed company in question.
Most binary options robots provided by binary options brokers land under this category. However, they are not robots in a nutshell. They are more of social trading platforms rather than robots, but since the trading is automated, they are often put in the same category.
Therefore, when it comes to social trading platforms that are akin to binary options robots, regulation matters less because in any case, trader follow the trades of fellow traders thereby removing any liability from the broker or the binary options robot service provider.
For instance, if you choose to automate your trades by following the trades of another trader whom you believe will deliver substantial wins and things do not turn out as expected, you cannot fault the robot service provider. Also, you cannot claim the robot to be a scam after losing money because, you are the one who selected which and whose trades to copy.
Therefore the question about whether or not binary options robots are legal can be interpreted in several ways. Traders would have to consider the parties involved in providing the service, as well as, whether or not they have a direct relationship with the service itself. You can have a provider who has nothing to do with the trading activity itself.
Binary options robots have no legal status under any regulatory body, but in most cases, the people behind them do. If that does offer any solace for those that really prefer using products that have legal status, then it will have to suffice for now. However, a few years ago binary options trading was not regulated, but now several brokers have EU regulation. Who knows what could happen in the next few years for binary options robots?
Does the Robot Work on Mobile?
Yes. The binary option robot is 100% mobile responsive and can be traded on your mobile.
How do the settings work?
The settings of the robot allow you to customize your trading strategy and financial results.
You can customize the following:
- Trade Amount
- Expiry Time
- Assets Traded
- No. of Simultaneous Trades
- Money Management Strategy (including Martingale, Classic and Fibonacci Trading System).
- Trading Indicators (including MACD, Stochastics, RSI, CCI, Williams and Trend indicators). You can learn more about how these indicators work on the internet.
How do I withdraw money?
You can withdraw your profits at any time. Simply go to your cashier, select withdraw, and choose your nominated withdrawal account. Withdrawals should be processed within 2-3 days.
What are the differences between Signals and Autotrading?
From one point of view, the difference between signals and autotrading is a thin line but from another, you could write down a long list of what separates the two.
So first up, lets draw the thin line between binary options signals and autotrading.
The only thing that separates the two is that in binary options signals, traders execute the trades by acting on the trades picked by the system. On the other hand, when it comes to autotrading, the robot, or the system in this case, executes the trades on the trader’s behalf.
Now the long list;
With trading signals, traders must be logged in the brokerage platform to execute the trade picks generated by the signal service provider, whereas with autotrading, once they have activated the autotrading option the binary options robot does the rest regardless of whether or not the trader is online.
With signals, traders can choose whether or not to act on the trade picks received, whereas with autotrading, unless they deactivate the autotrading option the robot will continue to trade the signals picks generated.
Traders can easily miss out on a trading opportunity when relying on binary options signals if they are not close to one of the provider’s selected forms of delivery. Some binary options robots service providers deliver their signals through multiple platforms including SMS, web, and Email, but others only deliver via web, or email. This means that you can easily miss out on a signal if you are not in a position to receive the alert. On the contrary, in autotrading the trader’s input is not required. Once a trader has applied the various filters on the binary options robot as per his/her preferred trading style, the robot takes care of the rest. So no binary options trading opportunities are missed.
With binary options signals, the level of win-rate can be affected by time lapse between when a trader receives a signal and when he/she actually acts on it. While the providers always indicate a certain trading window within which the trader must act, it always better to act instantaneously. It’s not possible to do that manually. However, with autotrading, the binary options robot applies the trade instantaneously thereby eliminating any potential time lapses.
With binary options signals, it is more difficult to apply certain trading strategies that make use of popular binary options trading systems such as the Martingale and the Fibonacci systems. However, with autotrading, using such a strategy is pretty easy especially if the binary option robot is equipped with the three main trading systems.
With binary options signals, the trader’s average win-rate can greatly be affected depending ln the signals he chooses to act on. It’s possible that one trader could end up being more than another despite using the same service over the same period due to the differences in signals executed. On the other hand, if you follow/copy a certain trader’s trades, then you can be sure to expect the same results at the end of the given trading session.
How are the Signals generated?
The signals are generated by the technical indicators that you choose in your trading rules. For beginners, we recommend using the Trend following strategy.
How do I start using the Binary Options Robot?
Using BinaryRobot365.com is very easy. All you need to do is open an account and switch the ‘AutoTrading’ button to ‘ON’. This will then trade on your account remotely.You can also customize the settings of the indicators and strategies used by the indicators to give you full control of your account.
Can I use my Existing Broker Account?
Unfortunately not. Due to security, you will need to open a trading account using the binary option robot to ensure a reliable, safe trading experience. This way, our robot can connect with your broker API and ‘talk’ to your broker in order to execute trades.