Binary Robot 365 was created in 2016 and they claim it was created by professional traders who developed “a number of trading algorithms”. Okay, I have no idea who these “professional traders” are because they never tell me but at least we know where the reviews are coming from. An amnesia patient named John Doe:
Wikipedia – John Doe/John Roe: These names are also used to refer to a corpse or hospital patient whose identity is unknown. Perhaps we turn up dead after using it? Walking dead anyone?
It’s available for mobile and computer. Straight away I notice they claim to have an 85% win rate… well unless you scroll down a little bit then it’s suddenly 83%. Not sure which it is and over a how long period it was tested on a live market or whether it is tested at all but they say it so it must be true. I must mention that most robots claim to be that accurate but in reality, they score below 55% based on what we have experienced and I am sure this one is no different. But anyway, we must give them the benefit of the doubt, for a little while at least.
What is the 85% Winning Binary Robot 365?
The BinaryRobot365 is a binary options auto-trader and signals platform. From what I could work out, this robot uses a list of six technical indicators: Williams, Stochastic, RSI, MACD, Williams and CCI… wait that’s just five… Yeah it seems Williams was mentioned twice on the list. Okay, perhaps a typing error, maybe it was a moving average or something? The FAQ mentions that the signals are generated via the indicators mentioned above and that they recommend the trend following strategy for beginners. It can also use Martingale and change the trade size based on the performance. However, I find no evidence for the robot being 85% successful aside from their marketing claim. On the plus side, you can get full control of your trading account by turning the autotrader off or disabling some or all the involved indicators. This allows you to fine tune personal strategies.
In the FAQ they mention that they do offer demo accounts and I like that they actually did when I signed up – 5000 virtual cash! Looking around in the demo account I found a list of functions under “Settings” that control the size of your trades when autotrading. The features are Martingale, Fibonacci and classic, where the latter is recommended for beginners. You can also select or unselect the indicators I mentioned earlier, the size of your trades, the number of simultaneous trades and assets.
Costs and performance
The Binary Robot 365 is free which automatically means broker signup and deposit is required. I like that they recommend to only sign up with EU-regulated brokers but there is some confusion here. I don’t see why famous scam brokers are in the mix of recommended brokers too. For example, GTOptions, OptionRally and CherryTrader to mention a few, have all been already talked about in our Scam Watch. All of them even show up as scams over and over again. On the other hand, when I signed up, I was automatically pointed to a regulated broker and I could see that I could only connect to other regulated brokers once I was inside the trading arena. Why can’t they simply remove the bad apples and just stick to the good ones? As I said, confusing. Getting back to the subject of performance; I let the robot take some 15 trades on the demo platform they offered – ranging from 5€ to 19€ in trade size. To use you can set the asset, the trade size, the expiry, the money management style, which indicators are used and the maximum number of trades to have open at one time.
After the trades were over, my balance went from 5000 to 5050€. Here is what’s interesting though, this was during a weekend so the markets were actually closed. Of course, some brokers offer weekend trading based on simulated markets or based on the past week’s data but this is not recommended for live trading, only demo. Looking at the results, most wins or losses are 1 pipette indifference so I can only conclude that those prices are simulated. Again, there was no such movement in the market at the moment of my trading because it was a Saturday.
Another Robot That Sucks Or Useful Autotrader?
The two things I like here is that you can have full control of your account and that they tell you to stick with EU-regulated brokers. I think if you use it to give signals based on an indicator or combination of indicators and then manually enter the trades you think are good is the best way to use this software. Moving on to what I liked less: what’s the point of recommending regulated brokers when there are scam brokers on your list? Again, to their defense, I must add that I could only choose between regulated brokers when I attempted to sign up but who knows what broker they may send you to.
Finally, about the performance of the autotrader. I don’t believe in those results because the real markets are closed during weekends and generated market data can be manipulated. All the trades were also either winning or losing with a pipette here or there which also indicates made up market prices in my opinion. Performance during live trading is hours is what counts and it is obvious the demo is not using live data. Conclusion: BinaryRobot365 is probably a scam but it’s one that comes with some useful tools. I’d not allow the auto-trader to handle my account but the customizable indicator signal system is certainly interesting.