I had never heard the term binary option robot until a few days ago. I was intrigued. Aside from my first humorous visions of actual robots trading Binary Options I was not that surprised by what I found. Robots are nothing more than signal providers and auto-traders, more specifically the software that makes them work. A rose by a different name, almost. Robots are a little more advanced than a simple signal service and are a very unique form of trading that encompasses many different types of tools. Automatic trading is nothing new to the investment world, just something new to Binary Options.
Let’s Define a Binary Options Robot: A Binary Options Robot is an automated trading software for binary options. The software constantly provides Binary Options Signals and trades them automatically on your Binary Options Broker account.
In order to fully explore how robot trading works I started with a simple Google search for binary options robots. I chose the best looking result from the Google search engine and this is what I found. “WhateverRobot.com” (not a real software of course, I left the real details private) is an automated signal service provider and binary options robot. This website is a service for binary traders that places trades automatically into their accounts, similar but not quite the same as copy trading. When you copy you choose a person to follow and copy their trades. A binary options robot is a program that literally takes over your account, can you believe that!
It may sound crazy, but it’s true. One type of robot is a third party program that you download onto your computer. In order for it work you must log into the robot AND have your Binary Options account open as well. The robot program detects compatible trading platforms and takes control. Any signals generated by the service are picked up by your robot and then traded in your account. The robot enters trade information like asset, amount, direction and expiration. It then clicks the enter button and your trade is set.