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07
Aug

Advantages and disadvantages of binary options robots

Written by Mike Roberts. Posted in Computers

Binary options robots are certainly an option beginner traders should consider, because they will offer them the chance to make a profit and understand how the market works. However, as with all things, there are both advantages and disadvantages that you should take into consideration before deciding to install a robot on your computer. You can learn more about robots on dedicated websites and find out all the details about how they work there.

 

Advantages

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Easy to install

If you take your time to find a professional robot, you should not encounter any problems when installing it, especially if the software was designed for beginners. In addition, in the era of technology that we live in, you should be able to find various tutorials on how to use it, but generally everything is quite intuitive to allow users to do everything very fast. Robots were designed to offer investors more time to research the market, or at least to allow them to do something else in the process as well.

 

It does not use too many computer resources

At first people believed that by installing such a robot, they would not be able to use their computers, but they soon discovered that a good robot will not use as many resources as they initially thought. The robot runs in the background and you can use your computer without any problems.

 

Configure the trades and systems as you wish

Most robots allow their users to configure the trading system as they wish. Usually they can choose between the Classic, the Martingale and the Fibonacci systems, whichever one they consider works best for them. Each one of these systems works in a different way and they can always count on the fact that the robot will respect their wishes.

 

Disadvantages

 

It is only based on technical indicators

While these predictions are usually accurate, sometimes other factors on the market might create a certain instability that robots will not be able to detect. The robot will not take into account major news releases or market reversals, so sometimes the success rate might go down more than you expected. While most robots advertise an over 80% success rate, you should not expect a win rate higher than 75%. In some cases this win rate can drop considerably if the market is unstable or something else interferes and experience has shown that medium term trades are more successful, so you should stick to the over 15 minute trades if you have this option.

 

It works with a limited number of brokers

Depending on the broker you want to work with, you might not always have such an easy time finding a suitable robot. Most robots only work with 3 or 4 brokers, so the first thing you should do is to decide on the broker and only afterwards start looking for a robot. You will save yourself a lot of stress, because the broker is the one that offers the interesting features and ultimately, the money.