BinBot Pro Review
We’re all looking for ways to make more money, right? And trading is an ever-growing industry to involve yourself in to try and do this. Many people may find that trading is a little bit confusing at first sight. And, for sure, it can definitely prove to be with the numerous different assets, the candle graphs, the movements of the markets and everything else. It’s not one of the most convincing things to join in with from its outward appearance. While there are professional traders who have years of knowledge behind them, there are still novices who are becoming accustomed to how trading works. That’s why several tools have been created and brought to the forefront for traders to utilise in their trading journey.
One of the methods of trading that is quite popular today is binary options. But even though this particular method is considered to be the easiest to learn, it’s still got a complicated initial outlook. And you also need to have a certain degree of experience with binary options in order to really work with them to the best of your advantages. The general idea behind trading in such a way is that you’re predicting how an asset or assets will move. Of course, it’s easy to simply say, “That asset will move up”. However, it’s important to also do some kind of market analysis to actually put some reasoning behind your decisions. And this is where things become a bit more difficult. That’s where BinBot Pro comes into play.
What is BinBot Pro?
BinBot Pro is basically a collection of robots that are designed to earn money for you on binary options trading platforms. Or at least, that’s the simple explanation of it. Trading robots are not particularly rare, of course. It seems as though there’s a new one launched at least once a week. However, it is important to check these bots out before trading with them fully. After all, some of them can be riddled with risks and problems that can turn your trades into disasters.
As far as the first look at BinBot Pro goes, it certainly appears to be genuine and professionally made. This much is visible from the software’s website. Of course, looks can sometimes be deceiving, which is why we also want to utilise the robot ourselves to discover all about it. Therefore, if you’re looking to involve yourself in binary options trading with a robot, perhaps this one will be of interest to you. According to the robot’s website, “With only 3 easy steps you will get access to [the] Ultimate Money Making Machine!”. And while this is quite a bold statement to make, we’re curious to find out if this is actually possible with BinBot Pro.
BinBot Sign-Up Process
To use the BinBot Pro robot, you will need to go through the three steps that we briefly touched upon before. First of all, you need to go through Pass Free Registration. The robot connects itself to what it considers the best binary options brokers, and there are currently three of these for you to choose from. They are:
- BinaryCent, with $0.01 minimum investments
- BinaryMate, with $1 minimum investments
- FinRally, with $1 minimum investments
Upon clicking on the ‘Registration’ button, there is a requirement for you to choose which of these brokers you would like to utilise for your trades. Additionally, the registration form asks that you enter your first name, last name, telephone number, account currency (US dollars, Euros, Bitcoins or Litecoins), email address and a password. Following on from the sign-up process, you will be taken to your chosen binary options platform. There, you need to make a deposit into your account. Each of the brokers has a minimum deposit amount of $250 that you must invest into your account. However, there aren’t any additional fees or items to buy. The trading robot will then go to work for you, automatically placing trades on the market movements. It does this by basing itself on a pre-determined level of income that you’d like to receive. The website even claims to potentially double or triple your deposit in a single day.
Is BinBot Pro a Scam?
There are several things that we look at when it comes to trading robots. We have reviewed such before as part of eToro tips and ZuluTrade tips, so it’s not so different for a binary options trading robot. These areas will frequently give us hints that there’s scam-like behaviour occurring. First of all, if a bot is genuine, it will always show the supported brokers that it works with. Several scam robots that we have seen before tend to hide the brokers from your knowledge. They do this until you make your initial deposit, only revealing such to you afterwards. That’s why it’s great to see that BinBot advertises them prior to registration. The three brokers that BinBot Pro works with are all highly regarded platforms as well. And this further boosts the esteem of this particular trading robot.
One of the other big areas that we look into, is the trades that a robot is able to place. And while BinBot Pro is short on the variety of assets that it provides, there is a reason for this. The software has the aim of focusing on quality of trades and processes, rather than quantity. There are eight currency pairs that are available to trade on, including EUR/AUD, EUR/USD and USD/CAD. Of course, there is the potential for this to expand in the future. However, currency pairs are the most popular types of binary options trades. Therefore, it’s working with solidifying the ability to place potentially high-winning trades on the most popular assets. Furthermore, trading in currency pairs is a lot clearer to do than other assets. Currency rates can easily be verified, meaning that there is little to no room for manipulations to occur from the broker’s side.
This being the case, the only thing that you need to do is set the auto-trading robot to work and watch as it places trades. Naturally, you shouldn’t expect to receive a 100%-win return rate. This is not something that even the most professional of traders can achieve. However, you’ll be able to see your account balance reflect the winning trades and the losing trades instantly. And therefore, you can react in the way that you think is most plausible. Either by allowing the robot to continue trading for you, or to stop it for the day and return at a later point, perhaps. The fact that you have these options also ensures that BinBot Pro is not a scam. Several robots spend all of their time trading investors’ money, even when they’re not at a computer or logged in to a platform. Of course, you can leave BinBot to do this too, if you like. However, you also have the option to stop it, which is the key difference.
How Do I Use BinBot and Can I Make Money with It?
There’s definitely a potential to make money with this trading robot, yes. We’re not saying that it will instantly boost your cash balance to make you an overnight millionaire. However, when you use it as an assisting trade tool, it can help you to be quite profitable. Once you complete your registration, you’ll be taken to a page where you have the chance to customise your trading settings. This includes the broker selection, funding of your account and the trading robot selection. While you can leave the majority of these features alone, you do have the chance to select a specific robot to trade for you. There are several of these within the BinBot Pro software, including Bullish Intervention, Bolly Band Bounce and xProfit. All of them have different profit generations to them. However, BinBot Pro is actually built in such a way that the maximum tasks are done via the trading platform. The funding of your account and the simpler tasks are left up to you. Each of the different robots have a demo show for you to watch and witness. And it really gives you an insight into how they each work and trade.
That being said, there will no doubt be traders of both experienced and novice levels who are against using such robots. And really, it’s understandable. Auto-trading has unfortunately been plagued with negative publicity, thanks to the multiple scam softwares that have been made available. These have unceremoniously invaded the binary options trading market, promising to make thousands upon thousands of dollars for traders. In the process, these scam robots have seen people lose masses of money. And that’s why auto-trading bots have been given a bad name.
Of course, when you utilise a reliable and genuine robot like BinBot Pro, you’ll see how effective they can be. Auto-trading systems have opened the binary options trading market (as well as other forms of trading) to many people. Previously, trading would only be done by those with enough experience to really understand what they were doing and why. However, bots do tend to simplify things, and therefore investors with less experience can get in on the action. As we said before, it’s not plausible to expect a robot to generate millions of dollars for you. Instead, if you put your trust in it, it can help to improve your trading experience.
Support Options for BinBot Pro
The good thing about this software, is that it instantly provides you with an account manager. The system itself is web-based, so you don’t need to install anything onto your computer to use it. So really, should any issues occur with it, it’s down to the actual software itself and not your computer or operating system. The account manager that we spoke of is available to chat with, so if you have any queries about using BinBot Pro, they are there. Fortunately, this account manager is well-versed in the robots. In that instance, they can generally provide any support that you may need along the way. Therefore, you can always expect to have help on hand if you think something has gone wrong, or if you need help with setting up your BinBot trading account, for example.
So, is BinBot Pro a Scam or Not?
From our own experience, as well as the experience of many other traders, we can categorically say that this software is not a scam. Everything is transparent to see and use with BinBot Pro. It’s clear to see that nothing is being hidden. The website doesn’t promise to make you a millionaire. It doesn’t promise that you’ll be raking in the money. It simply offers up a solution for traders of all varieties to make their trading life somewhat easier. After all, if you can set a robot off doing technical analysis of the markets and trading for you, why not?
Additionally, the BinBot Pro program doesn’t overwhelm you with a plethora of assets for the bot to trade on. It sticks to the most popular and easy-to-verify currency pairs. Therefore, there’s little chance of any kind of robot manipulation going on. And when it’s all said and done, you get to customise and work with the sections that are most important. Funding your account. Selecting the broker that you want to use. And choosing which of the multiple robots you would like to potentially put to use trading for you. Overall, BinBot Pro presents a truly appealing and noteworthy piece of software for traders to use and benefit from.