A quick Google search for “Binary Options Robot” reveals we have a problem. There are two robots out there that look alike on the surface. Which one should I choose? Any investor who decides to use a binary robot to trade options will faced this inevitable battle of the bots.
If good and evil were always painted white and black (or green and black in our case), making the right decision would be simple. In truth, the right and wrong answers in life come at us in similar shades of grey. That leads to choosing the wrong path by mistaking the good for the bad. In order to decipher the right course of action, one must then become an expert on the varying nuances of grey (And, no. This is not leading to a Fifty Shades of Grey pun).
In this corner…
The two websites to which I am referring look almost identical, and they typical appear in the number one and number two slots of the organic search results when you Google “binary options robot.” Here are the two links in question:
Do you see the difference? Look closely. That’s right.
They are virtually identical, except for the dashes. Can you see how confusing this can be, especially to newbies?
Answering the question of which is better is tricky. Each site has its pros and cons. Should we consider Google ranking? Over time, however, this is a cat and mouse game. Don’t be surprised to see these two close competitors frequently switching positions in this tight race.
Ultimately, only one question matters: Which site will make me money? Only trial and error tracked over a period of time can answer that question. Eventually, we may test them both. For now, we will choose only one on the basis of other criteria that distinguishes them.
The next question many people may entertain in making a decision between the options is: Which came first? This is a close kin to the, “Which came first, the chicken or the egg” debate. Binary-option-robot.com (with the dashes) claims to be the first. According to their own FAQ:
Our software Binary Option Robot has been first released on October 2013 under the TradeMark Binary Option Robot with website binary-option-robot.com
Unfortunately a company decided, during April 2014 to copy our website and open a website with the same software name and a very similar URL
A lot of our users are sending complaints to us because they have a lot of problems with the fake Binary Option Robot (thinking that we are the provider of this copy).
While it appears that Binary-option-robot.com was first, does that automatically mean that they are the best? Sometimes a copycat makes improvements, yet other times that generic package of oatmeal just doesn’t taste as good. We need a better comparison to make a better informed decision.
With that, I must remember the original purpose for this site. We are pursuing live research on whether or not using a Robot will eliminate part of the emotional component that tends to devastate binary traders and results in irrational decisions. By using a Robot, man is replaced with machine. The results should be predictable and consistent. In theory, the performance should prove to be predictable and consistent as well. And any predictable consistency in an otherwise erratic market can be a means of making money.
So which of these two sites will truly give us the instrument we crave? The answer Binary-option-robot.com, with the dashes. Unfortunately, while binaryoptionrobot.com presents itself as Robot software, it is really just a signal service disguised as a robot. It reminds me of that episode of I Love Lucy, when Lucy rips out the guts of a television set and climbs inside to pretend that she’s on TV. She looks like she’s on TV…she looks like a machine…but really its fake. Pay no attention to the woman behind the curtain.
The screenshot below demonstrates that they are a signal service. Their platform does not allow you to choose market events or indicators, such as the RSI or MACD. Instead, traders depend on the so-called algorithms of the site itself and are forced to trust the recommendations of their signals. Premium uses can also choose to copy the signals of named individuals. That means that signals are generated by a human being and not a robot. By choosing their service, one is essentially trading one’s own emotional inclinations in exchange for a stranger’s. Albeit, this stranger may be a more experienced trader. However, this does not fit the criteria of this project.
The above screen shot of their platform does reveal some positive aspects which may be worth our time for a more thorough experiment in the future. Instead of limiting trades to only currency trading, this signal service offers trading on other assets, such as gold and oil, and even indices such as the Dow and S&P futures. Since this is a signal service, and not a downloadable robot software, trading can take place without having to keep your computer or monitoring its progress. This may be appealing for some, or it may be frightening to those who long for closer control and oversight of the trading.
For now we will be setting aside binaryoptionrobot.com with no dashes, as it does not offer us the authentic Robot experience.
And the Winner Is…
It looks like we are on “Team Dashes.” We are waving the checkered flag for Binary-option-robot.com.
It is a true Robot solution, as it is a downloadable program that depends on the input criteria we select. It is not a signal service dependent on subscription based decision-making process (algorithm, human, or otherwise). It is the real deal.
This screenshot demonstrates that their controls include popular market indicators trusted by traders around the world, such as MACD, RSI, STOCH, WILLIAMS, and CCI.
The two dueling Robots have had a face off. And the real robot has stood up.
The robot that we are choosing for our current research will be Binary-option-robot.com, dashes and all.