Binary Auto Trader Review
Value for Money
In the market for a new forex trading bot? Then you may have come upon Binary Auto Trader. This forex trading bot offers a sleek setup and has partnered with some top brokers. So, are they really all they say? Read our review of Binary Auto Trader to decide for yourself.
About Binary Auto Trader
Binary Auto Trader from the outset displays a very attractive and slick setup. According to website documentation, they have been in operation with their Forex Trading Bot since 2016. With so many forex and binary trading bots in operation, it is understandable you may worry about a Binary Auto Trader scam or other problems.
That is precisely why we have undertaken a complete review of Binary Auto Trader as we have on many occasions with our top forex broker reviews. This should let you know whether or not this auto trading robot is a suitable service for you and your trading style.
There are a variety of features that every top trading bot should have in order to make them compatible with you and your trading style. Our expert team is well versed in using trading robots and brokers. Therefore, we have collected a list of what we consider to be the top features of Binary Auto Trader:
Working With the Best Brokers
Binary Auto Trader claim to work with a selection of the best and most recognized brokers in the binary trading industry. This is a feature which can be of excellent value to you as a trader since it increases the level of security and trust you feel to use the service,
If your broker is supported, you can receive an increased level of protection for your funds if that broker happens to be well-regulated, although trading binary options is still a very risky business.
Free to Use and Signup With Minimum Deposit
Binary Auto Trader offers the services of its bot free of charge. All you have to do is signup and also be sure that you deposit the minimum amount required by both your broker and the bot itself. In this case with Binary Auto Trader, as with many trading robots, the minimum deposit you will need to make from the partner broker is $250.
This deposit will then ensure you can engage the auto trading services provided by Auto Trading Bot.
With Binary Auto Trader, you are not restricted to the device type you use to trade with the bot. This means that the slick Binary Auto Trading platform is available and just as easy to use on your phone or smart device as it is your computer.
This level of accessibility helps to make sure you never miss a trade in the market, although this is already a given in the case of Binary Auto Trader since it provides for 100% auto trading once enabled.
Pricing and Availability
The pricing of Binary Auto Trader is not something that you need to be particularly concerned about since it is free to use. There is however a minimum deposit that you must make through your qualifying broker of $250 in order to gain access to the trading bot.
On the issue of availability, we found that trying to signup from many countries in Europe and the United States was unsuccessful and we were instead redirected to use the partner service Bin Bot Pro. For more information on that particular service, you can check out our latest BinBotPro review.
This availability issue may certainly cause some frustration for traders and does raise the question marks around the usability of Binary Auto Trader beyond its well-designed website.
Binary Auto Trader does well on managing the claims they make in regard to the level of results they can deliver. They do refer to themselves as the best auto-trading bot, though this is reasonably standard promotional garb.
When it comes to win-rates, the broker does boast a win rate of 87.5% but they stop short of outright promises in this regard and are careful in their use of the phrase “up to” when talking about this.
Overall, they strike a good balance between promoting the service in a positive way and being careful not to over-promise on the results aspect, although the reality when you begin trading may be somewhat different as has been highlighted in other reviews of the service.
From a neutral perspective, everything seems to be reasonably transparent and above board with the claims made by the Binary Auto Trader service.
Any form of trading is a risk. This particularly applies to the all or nothing nature of binary trading. For that purpose, we would stop short of making any conclusive statements in regard to the results generated by our use of Binary Auto Trader as these can change dramatically subject to the market.
We were pleased though with the setup of our account, the accessibility provided, and the way in which the bot itself was user-friendly and intuitive. In this way, the service is providing all of the tools you require for success. The rest of the process is a combination of how you manage these tools and implement them together with a helping of luck, to generate your results.
Binary Auto Trader Trustworthiness and Support
Trust is always a huge challenge with trading bots, particularly in the binary options trading area. Binary Auto Trader has had some previous negative press in regards to the transparency of the operation.
This weighs heavy on the company and anyone who may wish to use the service. A very user-friendly appearance from the outset may help to convince, but what really matters are your results. Being redirected to BinBotPro certainly does not help, and all we can add is to remain vigilant and let your trading results speak for themselves in this regard.
Another potentially negative point is the fact that the support offered was poor. Only one website contact form is available and this can take 48 hours or more to be responded to.
Who Should Choose This Service
Overall, the use of trading bots is typically reserved for those with more trading experience in the industry, These are the trader we would typically recommend to engage such services. Now the positive design and apparent ease of use which comes along with binary auto trader also appear to be aimed at new traders.
Typically we would say this is OK, but with some question marks over transparency and the need to remain vigilant on your results and service, we would say this should still be left to the more experienced trader at least until a better reputation for the service can be established.
Binary Auto Trader presents what we can only describe as a very slick and well put together exterior. This is marked by a very well-designed and polished website and a bot interface which carries the same appeal.
That, including the range of features available and the free startup, would point to a very attractive trading bot proposition.
Unfortunately, these are somewhat held back by the previous negative reviews attributed to the service and the difficulties that many experiences in getting registered prior to being redirected to a “partner service” in BinBotPro which we were less than enthusiastic about.
As experienced professionals who have reviewed many top forex platforms and other trading services, we would say that while Binary Auto Trader may be worth a try, start small to test the water and move forward with caution until you are comfortable.
- Free to use across multiple devices which greatly increases convenience
- A very designed service which is appealing from a visual perspective
- Partnered with top brokers to provide you with greater accessibility
- Previous negative reviews from the industry cast a shadow over the service
- Difficulty in signup from many locations and redirecting to another service raises suspicion
- Customer support availability seems very poor