Are Auto Trading Robots the Best Type of Options Software?
Auto trading of options has become a popular practice among options traders. However, the views on auto trading of options have been somewhat split. While some appreciate the ease of trading that auto trading facilitates, others believe that it gives brokers disproportionate levels of control. Whether auto trading software is the best type or not really depends on the priorities and the needs of the traders.
One of the strong arguments for auto trading is the advantage that it gives to beginners. Since the software allows inexperienced traders to trade automatically, it prevents brokers from making decisions that may not be in the trader’s best interest. On the other hand, there are some who believe that auto trading is an easy way of scamming traders. This is based on the fact that traders have to pay for the software which may not be authentic.
While auto trading can make trading easier and can save time, inexperienced traders may fall prey to those offering robots that will not satisfy the needs of purchasers. Some clues to auto trading scams include very little trading history, incredible promises about what the robot is capable of doing for the trader, sketchy or non-existent contact information for vendor, limited compatibility of software with reputable trading sites, and very limited trading assets.
Auto trading robots can make life easier for inexperienced traders. However, traders should always be on the lookout for scammers before investing in unknown options software. Also, be careful that you don’t solely rely on online reviews when deciding whether an auto trading robot is a scam or not. If there is any doubt about the legitimacy of the vendor, it is advisable that traders opt to trade through a reputable broker.
Most of the automated trading robots in the binary options market are not regulated. None of the regulatory bodies have made any specific frameworks or taken action in regulating the automated robots but some regulatory bodies such as CySEC have started to clamp down on this unregulated arena and has given fines to binary options robot providers that are defrauding traders or using unfair trading in order to trade against the traders themselves.
The fact is that automated trading software for binary options, or binary options robots, are an unregulated trading tool and these types of software are highly risky as you can really never know if the robot really works or not, specially in the long term.
Binary Options Robot Reviews