BinRobot Lady Review
Trade like the pros on Wall Street with Binrobot-Lady
The boom in the popularity of trading binary options has created a market for not only numerous brokers offering trading platforms but also tools and resources to aid traders and help them improve their win ratios. One of these tool categories is trading robots, which automate the time-consuming process of technical analysis on the price chart of an instrument a binary option can be taken out on, such as a forex pair, gold or an index.
Professional and institutional traders use trading robots as standard and have done for several years now. Trading robots are programmed to overlay technical indicators onto pricing charts, saving the trader the time required to do so themselves. Technical indicators are different mathematical formulae visualised on price charts which isolate the price direction patterns technical analysis theory holds repeat themselves through time. Short term price fluctuations of a financial instrument, when not based on any real reason why the underlying asset should see a change in value, such as fundamental demand, supply and costs, come about as a result of the mass market psychology of traders. This large-scale group psychology typically reacts in the same, or similar way, to the same factors so price trends can be predicted.
Trading robots like Binrobot-lady automate this technical analysis. Traders choose which indicators to apply to a financial instrument’s price chart, which can be based on a common methodology or a trading system of their own they have faith in. The robot then alerts the trader via a ‘signal’ when the selected indicators all agree on a forecast price trend. The trader then assesses the evidence, possibly applying some additional indicators to see if they also agree and makes a call on whether to place a trade.
Binary options trading robots such as Binrobot-lady do the same thing as the robots professional traders use and are specifically adapted to binary options trading.
The only background information we really have on the company behind Binrobot-lady is that they were established in 2014. It is typical for there to not be a great deal of information on freeware companies as because they do not take any payments from clients there is no real need for it, with the product itself the main focus. User inquiries are made via a form available on the Binrobot-lady website.
Binrobot-Lady’s trading robot software is well designed and intuitively easy to use. Users register an account via the website; a quick, simple process, with the next step choosing a broker from the index of partner brokers whose trading platforms the robot’s software is compatible with. More than one broker can be selected. A trading account which requires a minimum $250 deposit is then opened with the broker via Binrobot-Lady’s website.
The robot has two settings; a signals setting and an auto-trade setting. The signals setting alerts the trader to a trade opportunity when the indicators selected agree on a price trend and the trader decides if they want to take a binary option on the instrument. In the auto-trade setting the user gives the robot permission to automatically open a binary option trade when the trading system set provides a signal. In the auto-trade setting the trader sets the investment stake level to what they are comfortable at, as well as the maximum daily budget and maximum daily loss.
Binrobot-lady’s software includes 6 different technical indicators which can be combined, as well as three common default trading systems that use different mixes of these indicators.
Binrobot-lady’s website does not have an app version but is responsively designed so automatically adjusts to screen size and can be used reasonably comfortably from a mobile phone device. Unfortunately, the software is only compatible with browser-based trading platforms so works though the desktop version of partner brokers’ trading platforms and not their mobile-specific trading apps.
If you do want to trade on the go with Binrobot-Lady, you can using the browser-based trading platforms via a smartphone or tablet. While they will not be quite as comfortable to use a mobile app, modern browser-based websites almost always, and do in the case of binary options trading platforms, automatically adjust to screen size so can be used.
Trading Features & Fees
Binrobot-Lady has 3 default trading systems which use different combinations of the robot’s 6 indicators. The indicators are Trend, RSI, Williams, MACD, Stochastics and CCI and default systems the Classic System, Martingale System and Fibonacci System.
Users choose which of the default systems they wish to use to provide signals for which instruments or create their own custom system.
Binrobot-lady does not charge users any subscription fee or one-off charges to use the robot. The commercial model of the company behind the software is to earn commission from the partner brokers the software works with every time a user opens a trading account with one.
While the list of compatible partner brokers is likely to expand and change, at present Binrobot-Lady works with 6 different binary options brokers: 24option, Bloombex Options, RBinary, Opteck, ZoomTrader and PlusOption.
As a policy, all of the binary options brokers Binrobot-lady works with are CySEC-regulated, which is the only government financial services regulator that binary options brokers can be regulated by in Europe. They then operate across Europe under CySEC-regulation via the EEA passporting system.
Each broker has its slight differences when it comes to their binary options trading platform, range of tradable instruments, banking options, educational resources and more. Users should therefore do some research on the partner brokers available to them before selecting one or more to trade with using the robot. Our binary options broker review section can help with this process.
Bonuses & VIP programs
Bonuses that traders may be eligible for are run via the partner broker(s) that trading accounts are held with and not provided by Binlady-Robot itself. While CySEC-regulated binary options brokers are not permitted to offer users cash bonuses on deposits as many non-regulated brokers do (though they tend to come with restrictive turnover conditions before withdrawals can be made) some do provide perks such as educational resources or some kind of refund on losing trades.
Users can research the bonus offers of the different Binrobot-Lady partner brokers.
Deposits and withdrawals
Again, all deposits and withdrawals are processed via the binary options broker(s) a trader has opened an account with. The minimum deposit for accounts opened via Binrobot-Lady is $250 and minimum withdrawal levels vary between brokers. Different brokers also have different charges applied to withdrawals, often varying depending upon the payment processing channel used.
Brokers typically offer payment processing via bank wire transfer, debit and credit cards and a range of e-payment processors such as Skrill and Neteller. Not every broker supports deposits and withdrawals via all of the above so this is another aspect traders will want to research when choosing a broker.
While Binrobot-Lady customer support is available via an enquiry form found under the ‘Contact Us’ section of the robot’s website.
Extra features and resources
As well as the three default trading system set-ups and 6 indicators users can combine to customize their own systems, Binrobot-Lady also allows users to set risk level. A higher risk level will mean users will receive signals even if not all of the indicators a trading system uses are in agreement. Users can also set budgets and stop loss levels.
Binrobot-Lady is a tool that can be of significant aid to traders in the way that robots are for professional traders. Technical analysis is time consuming and having to do it manually can mean that the window of opportunity for a good binary option position has closed by the time the trader has done the analysis they feel they need to be comfortable in making a decision.
The software is nicely designed and easy to use and while the six indicators available could be extended in the future to provide more choice they do cover the needs of most common technical analysis systems. While not objectively verifiable historically, Binrobot-Lady claims that its signals have an 87% accuracy ratio, which if the case will really boost the win ratio of the vast majority of traders.
The robot’s software only being compatible with 6 binary options brokers is a somewhat limiting quality but the 6 are all reputable brokers regulated by CySEC so traders could do a lot worse. A more immediate-response customer support channel than the current enquiry form would be a welcome development.
- » No charges for traders to use the robot software
- » Compatible partner-brokers all CYSEC-regulated
- » 3 pre-set trading systems and 6 indicators users can combine for custom systems
- » Extra settings include risk management tools such as daily stop loss
- » Lack of objective verification for historical success rate
- » Currently compatible with only 6 partner brokers
- » Not compatible with app-based mobile trading platforms, only desktop
Is Binrobot-Lady a Scam?
No. Binrobot-Lady is simply a software that automates technical analysis based on 6 indicators. The company takes no payments and users must decide themselves exactly how to utilise the software’s functionality. The premise is the same as that of the trading robots professional traders make use of.
How much does Binrobot-Lady charge for the software?
Binrobot-Lady is freeware. The revenue source of the company behind Binrobot-Lady is commissions generated when users open an account with one of the compatible partner-brokers.
What is the accuracy ratio of the signals provided by Binrobot-Lady?
BinRobot-Lady’s website claims 87% accuracy in the signals generated by its default trading systems when applied to five different forex pairs.
Does Binrobot-Lady Have a Mobile App?
No, the company’s website where the robot is set up does not have an app version yet and the software is also only compatible in the browser-based trading platforms of partner brokers.