How to Determine Scammers From Authentic Binary Options Robots

Dealing with the financial world can be quite tough but once you have reaped the benefits based on the efforts you have sown, you will definitely say that it was for the best that you took that risk. But taking risks can be quite dangerous, especially if you are dealing with scammers. In financial trading, scammers run amok and are targeting innocent traders to invest huge sums of money in order to rip them off and take the money on their own. Financial traders are best advised to be extra wary of who they deal with by doing extensive research. Amongst the forms of trade, binary options has its own fair share of scammers and victims of the former. How do you deal with scammers so that you can avoid being ripped off in the future?

robots binary (2)Just like it was said in the previous statement – extensive research. This research deals with looking for reviews, referrals from friends who are already into the game of binary options, and those with extensive knowledge on how the financial market behaves. Binary options are simple but has high risk, because it only comes with one of two results – win or lose. Winning gets you back your initial stake together with the payout offer, but losing means you lose your initial stake only. The minimum bet is at USD10 and can go higher if you wish it so. This is where it can get dangerous if the traders get their hands on a scam – if they are used to betting higher stakes than 10, it could get ugly. Scammers simply take away the money traders have bet, and the traders do not realize they were already victims in the first place.
Before you jump to conclusions, you should first know how automatic trading works, hence the binary options robots. The best result from your research will lead you to one website that has something to do with auto trading, and provides information on how they are done. The software itself is an automatic provider fused with binary options robots. The software place the trades automatically through the trader’s account, which is a bit similar to copy trading, although not at the same time.

Copy trading deals with copying the trades of another person while binary options robots take over the account of the trader, handling the processes of trading by itself. It sounds crazy, but this is how auto trading works. Not all robots are made the same, but the similar features they all share is that traders are required to log into the software and their account with binary options, too. The signals generated are then picked up by the robot and will be traded into the account. The robot software will trade the information such as direction, amount, asset, and expiration. It will do all these processes on its own, including the start of the trading.

robots binary (3)The average results of the binary options robots are at 83 percent, but most of the software will likely brag at 90 percent in order to attract more binary options account holders to use their robot. The only time when the 90 percent winning accuracy is only possible when the robot itself gets through winning streak, but having a losing accuracy of forty percent will totally wipe off your account with the binary options. Your work is to compare the results of different traders that are using a single software. You will see how it can be dangerous to rely on a robot that you have only seen once.

Those who have success with binary options robots are those that work similarly with how brokers do. This means that they also use the same robot that the brokers are using, particularly from licensed brokers. Those that come with a bad reputation should never be trusted in the first place. It is advisable for traders not to deposit a single cent into the brokerage account unless they have seen the settings page or window of the binary options robot.

The biggest disadvantage of using the binary options robots is that you really do not know what the robot is programmed in doing other than the preferences you have based on the account you hold. Some traders conclude that the software could only be generating random trades and that luck is the only skill that you need in order to get a winning trade.

But don’t forget that binary options robots are customizable – those that are highly reliable. The reason that others think it is not very reliable to use robots is that they might have used a software that did not allow them to customize their preferences and only asks for the asset and the amount you need to trade. As long as you see the settings page and that it requires you to customize your preferences, you already have in your hands a reliable robot to use for your trading.