Programs for binary options are aimed at traders of any level of professionalism. Experienced market players strive to make trading as convenient as possible, which is possible by automating the process. The use of various utilities helps control losses and profits due to an impartial attitude to work and compliance with money management.
Helper programs give users confidence and confirm their predictions. Beginners get the opportunity to trade without the involvement of managers. Using the software functionality, you can assess the relevance of the developed trading strategy and analyze transactions, which helps to increase the professionalism of the trader.
MetaTrader 4 program
Formally, this terminal has nothing to do with binary options. Through it, brokers organize access to the Forex market.
The main advantage of MetaTrader is custom indicators and advisors. During the existence of the terminal, thousands of instruments of this type have been created; they can also be adapted for binary trading. With this scheme, MetaTrader acts as a signal provider – the trader finds a signal in the platform and opens a deal in the broker’s terminal.
The only drawback of this approach is the time delay between receiving a signal and opening a trade. The method is not suitable for turbo options, but when trading with an expiration of 30-60 minutes there will be no problems.
You can also set up free import of Autochartist signals into MT4. This is suitable for those who work with graphical analysis.
You can download Metatrader by first registering with any Forex broker, or directly on the official Metatrader website.
Specifics
Using automated trading software makes sense, but you need to understand which robot should be installed on your computer. Any software only works on the MT4 terminal because only MT4 provides work in different programming languages. We have provided you with a list of free software.
Step-by-step instruction:
- You need to copy the file from EX4 or MQ4 to the MQL folder in the MT4 file.
- Then you need to go to Meta Trader.
- Click on the “navigator” at the top of the screen.
- Select “advisor” - the downloaded bot will be there.
- Click 2 times, then you can configure the bot. But it is recommended to leave everything as is. The advisor will move to the chart.
You can change the parameters at any time inside the robot; you just need to click on the smiley face on top of the graph.
Binary options program OlympBot
This is a full-fledged trading robot for binary options, it stands out from the rest at least because it is offered by the Olymp Trade broker, and not a third-party developer. Available as browser extensions and a separate application for mobile devices. The functionality of both versions is identical, and you can download the version for smartphones through PlayMarket or AppStore.
After installing the extension, the “Open Robot” button will appear in the trading terminal. There are few settings in the program itself:
- the trader sets the rate, expiration date, what trading instrument will be used for trading and the type of strategy;
- You can activate the work by signals. The broker has a cloud analytical service; for real accounts it can be connected to the robot for free;
- you can limit work after achieving a certain balance;
- The robot itself selects the asset with the maximum payout.
The robot works on its own, connecting to an account opened with Olymp Trade , and is incompatible with other binary brokers. You can enable it on a mobile device - there is no difference compared to the PC version. After unprofitable trades, the robot can increase the bet volume in order to speed up the exit from the drawdown. For small deposits, it is better to disable this function.
The robot does not show a record win rate, but in general during testing it worked with a win rate of about 60-65%. It is not worth using it on a low-volatility market; the broker reduces payments and such a win rate will not allow you to make money. But when payouts increase to 80-90%, you can experiment with the bot.
The only drawback is that the broker does not disclose exactly the principles for determining signals.
TS, MTS, Money Management
Money Manager is software for analyzing and modeling tactics, selecting the most convenient, optimal ways to manage a deposit. Moreover, it describes all the points regarding the choice of capital management approaches in the trading process as a whole. Here you can evaluate the algorithm as a whole, as well as determine the advantages and disadvantages of the system.
Trade Logger is a kind of notebook for operations that allows you to manage capital. Please note that this tool advises the investor when to pause trading and when to continue trading.
Forex Strategy Builder – this software is designed for testing and optimizing tactics and various indicators. Using this program you can analyze algorithms and technical data. tools, moreover, you can compare the effectiveness of different tactics.
Quotes
MetaStock Converter is another program that works with the trader to improve efficiency. Here you can use different intervals of 5,10, 15 and 60 minutes and other periods.
Time zones and zones
Here, a time zone converter is used to instantly convert time from one time zone to another to get the most accurate information possible.
Market Hours Monitor is another tool for tracking session hours at the time of trading.
News broadcast
As for programs of this type, there is a very wide range of software, among which we can highlight:
- RTT News Desc Alert is used to receive information about the latest news in the field of economics and politics.
- Stocks Tracker Live also provides news broadcasts, but only of an economic nature.
- Compas News Injector – news is available in the form of short reviews.
Application from Investing.com
The free information and analytical service investing.com replaces most binary robots in functionality. We recommend not only tracking information through the site, but also installing a software extension for the browser, as well as a smartphone application.
This program combines:
- qualitative analytics;
- economic calendar (not only for currency pairs, but also for stock market instruments)
- signal service
For binary options this is the most necessary toolkit. Signals are calculated using 14 standard indicators for different timeframes and are issued in the form of unambiguous recommendations from “Active Sell” to “Active Buy”. The functionality in the mobile application is the same as on the website, and it is more convenient to track signals through it.
Many paid binary options robots actually simply import investing.com signals and pass them off as their own. So be sure to take into account the recommendations of this service in your work.
conclusions
QUIK is a leader among a large number of trading platforms in terms of the range of options, analytics options and the ability to install filters. The large list of functions leads to problems using the terminal because special knowledge is required.
TRANSAQ is chosen as a compromise option. The platform's capabilities are sufficient to perform low-level trading tasks. In this case, you won’t need to spend a lot of effort on mastering a good terminal. If the complexity of the transaction increases, then the trading application options may be limited.
MetaTrader has the simplest functionality and ease of use, but this site lacks many tools that allow you to carry out transactions on the stock market. The exchange platform that the broker creates independently for clients will be inferior to other terminals in terms of the availability of options.
A novice trader needs to study the pros and cons of each platform in order to choose a convenient trading program.
Autochartist and Trading Central apps
Autochartist and Trading Central are two different information and analytical services. The first specializes in graphical analysis and markup automation, the second - in assessing markets in general.
Both services release programs for binary options only in the form of plugins for MetaTrader. Through Forex brokers such as Alpari, you can get free access to them. All you need to do is open any type of account with Alpari, download the plugin and connect it to the terminal; you don’t need to deposit money into the account.
Relatively recently, Trading Central released a new product – Featured Ideas .
Featured Ideas is similar to what investing.com offers, but each signal is given a theoretical basis and a chart with markings. This program for binary options is not only free, but also much more informative.
The only difficulty is the selection of expiration, yet trading central focuses on ordinary traders, and not on the BO market, so the target level is simply indicated based on the signals. Expiration is selected empirically.
The autochartist is no less useful. It focuses on graphical analysis, there is no detailed textual description here. Instead of a plugin, you can track signals on autochartist.com. The problem with expiration remains, since the program is not specifically focused on binary options.
Binaryopt
This software is similar to Algobit, but its work is based not only on the analysis of moving averages, but also on the Stochastic technical instrument. If you plan to use an automatic algorithm for the purpose of trading BO, you can use it on any charts.
Trading is available in different types of BO: borders, corridor, range, constructor. We do not recommend using the bot on higher charts H1 or H4. Expiration time should not exceed 30 minutes.
Currency Strength Meter Program
In this binary options program
The principle of the MT4 indicator of the same name is implemented as a separate application. The strength of each currency is calculated on a scale from 1 to 10, and correlation is taken into account in the calculations.
Like signals from investing.com, Currency Strength Meter readings are not considered a basis for immediate entry into the market. It is more of a signal filter for the main trading strategy. The data is displayed both in table and graph form.
The operating principle is similar to oscillators. If a currency, for example, has weakened abnormally on all timeframes, we believe that a reversal may soon take place (analogous to a state of severe oversold). If a reversal signal is formed according to all the rules of the strategy, you can buy a Call option.
The main disadvantage is that the program is paid with a short period of demo access. It’s easier to use the free indicator of the same name for MetaTrader4.
How much can you earn?
How much can you really earn here? Everything depends solely on the desires of the user himself. Profitability is affected by the time spent, the chosen program and company, and the quality of the content. Of course, if you have personal experience in this area and can talk about it in an interesting way, the chances of achieving the best result among all partners are high.
If you have the opportunity to invest in this business, then the profit will increase, since advertising will work in your favor.
Initially, you can count on an amount of $100; many partners say that over time, it turns out that the amount of payments can be increased to $1 thousand or more.
Trade Horn Program
This binary options software comes as a separate application. This is a standard semi-automatic robot, it gives the direction of the signal and recommends the expiration date, but does not conclude the deal itself.
The developer explains the rules for generating signals:
- work is carried out according to the trend , its direction is determined by moving averages;
- Pivot levels are taken from the website investing.com . The Pivot position is recalculated every day (classic Pivot Points are used);
- the signal occurs when the chart reacts to the pivot level . This is considered to correspond to the completion of the correction. The program gives a signal, the trader goes to the broker's terminal and concludes a deal.
The only drawback of the program is that there is no demo version and it has never become publicly available.
The author provided evidence of work in the video and on the social network VKontakte, but it is impossible to independently verify the effectiveness of Trade Horn before purchasing. The idea itself is not strikingly new, but it seems reasonable.
Should I buy paid advisors?
Currently, there are many offers on the Internet for purchasing one or another advisor designed for trading binary options. Moreover, such advertising banners or videos contain a lot of words of praise. Class! Super! Megaprofit! Million in 2 days! And so on.
We cannot recommend that you pay money for such advisors. Most often, such advertising is designed to siphon money from gullible novice investors. Judge for yourself why anyone would sell an advisor that brings such huge profits.
In addition, there are cases where advisors are sold by binary options brokers themselves. Such programs a priori cannot be profitable. After all, a brokerage company makes money only when a trader loses his deposit. Examples include the Binary Option Robot program from Optitrade24, as well as Algobit from the broker Optionbit.
In conclusion, we would like to say that you should be careful when choosing an advisor. Before trading with real money, test the functionality of the program on a demo account.
Calculators for binary options
This type of tool is typically not available as a standalone PC application. Most calculators work online; they are needed to calculate money management and assess deposit loading. One of the best martingale calculators is available on our website.
The calculator assumes that in case of a loss, the trader will use the martingale and will increase the lot after a losing trade. The worst-case scenario is automatically calculated for the sequence of transactions specified in the settings. Based on this, the recommended deposit is calculated.
The same calculations can be done manually, but the calculator performs them in a second; manually you will have to spend at least half an hour.
Programs for reporting and analyzing results
The simplest way to keep records is to manually enter all transactions into Excel. But this will be a simple diary, it is inconvenient to work with this information. You will spend a lot of time calculating basic statistical indicators, classifying transactions by underlying assets, time, level of aggression, volume. Without this analysis, it is impossible to optimize trading.
In Forex, the problem is solved simply - the account is connected to the myfxbook service. It is monitored automatically, all kinds of statistics are calculated and a deposit growth graph is constructed indicating the drawdown. But myfxbook does not support binary options.
Marketstat.ru combines the functions of a regular diary and an analytical service; there is no separate program for a PC, but you can use the online version. This program supports all types of trading, from the stock market to binary options, and the Russian language is supported. The analytical capabilities are pleasing:
- trading results are displayed in the form of a graph;
- basic trading information is displayed – how many days it lasted, what is the maximum drawdown in money, average profit, loss and other details;
- time analysis is carried out. Indicators are calculated by days of the week and hours of entry. Based on this information, you can, for example, enter a time filter and not trade from 14:00 to 15:00 since it is during this period, according to statistics, that the maximum loss is observed;
- a more in-depth analysis is performed, for example, dividing entry points by type and level of aggression.
The program supports all popular types of binary options (high/low, touch, range). There is no support for tick-only BOs, but these are exotic and hardly any traders are able to consistently make money on them.
Operating principles and profitability of services for trading on a machine
There are bots on the Internet that give the right advice and open profitable trades. But finding them is extremely difficult. In 95% of cases, a trader will come across a scammer who receives money as payment for access or as a commission from the broker. And he is not interested in the result of the client’s work.
To correctly select a profitable program, you need to understand the principles of its functioning. The following options exist:
- Trading based on the Martingale method with a constant increase in the investment amount;
- Market analysis based on technical indicators and graphical analysis figures;
- Copying trades of one or more successful traders.
The most reliable information is provided by automated utilities that analyze the market using technical means and allow you to select tools for work.
The main advantage of any automated service is strict adherence to the programmed algorithm. The robot does not give in to emotions and excitement, does not miss signals due to inattention and correctly identifies them in the market. He also works independently, freeing up the trader’s time for other matters.
But there is also a drawback. It also consists of persistently following the algorithm, despite changing fundamental indicators or other external factors. This is why it is impossible to achieve 100% success. In addition, before each launch of an automatic robot, you should make sure in the economic calendar that important indices that unpredictably change the rate of a currency or other underlying financial asset are not released on that day.
MT4 to Binary.com Bridge Program
The application solves the problem of automating binary options trading, although only in the case of the Binary.com broker. This is a “bridge” that is capable of redirecting requests for transactions in MetaTrader 4 or 5 to the Binary.com broker terminal.
The only limitation of the program is the lack of support for volatility indices in countries such as Singapore, Germany, Australia, France, Italy, Greece and Luxembourg. The type of advisor does not matter.
To trade, you will have to keep both MetaTrader and the terminal on the broker’s website open. You can organize everything through a VPS so that trading can be carried out 24x7.
This is not a free binary options program. It is suitable only for those who have already achieved stability; it is better for beginners to practice manual trading.
Abi
Today one of the most popular robots. It has a number of differences from standard software. It is well suited for use:
- experienced traders working daily;
- speculators who are limited in time;
- for newcomers who have recently entered the market.
You can trade in automatic mode or work manually. The software has the following advantages:
- 6 indicators, 3 systems, many assets;
- you can customize the program, recommendations are included;
- there is a list of licensed brokers you can trust;
- high percentage of profit - 70-83%.
BO has an excellent reputation and international awards in the financial field.
Trade Replicator program
An unusual program for binary options that allows you to create an analogue of PAMM trading on Forex. Trade Replicator allows you to link multiple trading accounts and duplicate provider trades on slave accounts. Accounts can be owned by different people.
If a trader consistently makes money on binary options, he can organize something like a PAMM account by connecting several others to his account. True, the issues of remuneration for the signal provider will have to be decided independently; the program does not have such an option. The balance on them may vary; the program can scale the transaction volume depending on the account size.
There is a short free period, but in the future you will have to pay $15 to continue using Trade Replicator.
