A Comprehensive Review of Binbot PRO – Is It Legit?

Introduction

BinBot PRO is one of the most controversial automated trading robots. It is also one of the few automated trading systems that is specially designed for binary options. Binary options can be very profitable and the BinBot PRO software finds the best options to trade. The BinBot PRO software also features many other trading robots designed to automate other types of trades, including cryptocurrencies. In this review, we evaluate the BinBot PRO and its relevance in the financial options market. 

What is BinBot PRO?

BinBot PRO is third-party software that allows traders or its users to customize and use the available trading robots to execute and route trades to affiliated brokers.

Launched in 2016, the trading software has gained traction because of the accuracy rate of its trade analyses. According to the BinBot PRO reviews from users, the software can help you trade both fiat currencies and cryptocurrencies.

In terms of fiat currency support, you can trade on different pairs, including Euros and USD. Alternatively, you can use the dedicated cryptocurrency trading robot offered by the BinBot PRO software to automate your Bitcoin and Litecoin trades.

However, there are several negative reviews on Trustpilot. Most of the users talked about the persistent losses they had. While some claim the software works great, others dismiss it as a scam and a venture aimed at making the traders lose more money than they make.

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Pros & cons of using BinBot PRO

Pros

  • Supports major fiat currency pairs
  • Returns as much as 90% per broker
  • Automates cryptocurrency trades
  • The trading robots have a profit rate of up to 313%
  • Offer various trading robots with several trading strategies 

Cons

  • The demo trading account only lasts for 60 seconds
  • Information about the robots’ past performance is not available.
  • The software has negative reviews on Trustpilot.

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BinBot PRO markets, assets, and options

What assets and products can you trade using BinBot PRO?

BinBot PRO prioritizes the binary options market, because it is what traders have challenges with. Most of the trading robots under BinBot PRO are designated to address those challenges.

However, there are a few trading robots that can help you with cryptocurrency trade automation. Notable among these is the Crypto ADX 2.0 trading robot that makes automatic detection of the STOCH and RSI levels. This way, the robot analyzes the volatility of each of the supported cryptocurrencies.

The BinBot PRO trading software and the individual trading robots automate both binary options/fiat currencies, as well as cryptocurrencies. Some of the top assets are the USD, Litecoin (LTC), Euros (EUR), and Bitcoin (BTC).

What leverage trading options are there?

BinBot PRO doesn’t offer leverage trading directly. Instead, you can get this trading option when you use any of the brokers and exchanges that are partnered with the software. In this case, you can enjoy a leverage of 1:100 on over 100 trading assets at the brokers.

Leveraged trading is risky and can  be the reason why you will lose your trades, even if they are automated. Proceed with caution and take up risk prevention measures offered by the broker(s) before deciding on using the leverage trading option as a beginner. 

What are the Spreads?

VideForex is the only broker that allows BinBot PRO’s users to enjoy competitive spreads. There is more information on the broker’s site if you are interested.

Fees, limits, and payment options on BinBot PRO

How much does BinBot PRO cost?

BinBot PRO is free. You only need to sign up for a free account, make the minimum deposit of $250, and start automating your binary options and cryptocurrency trades.

There are no specific account types on the BinBot PRO website. You can only find this feature when you sign up for an account with its affiliate brokers. When you do this, choose from the three most popular account types, including Bronze, Silver, and Gold. You could get as much as a 100% bonus when you make your first deposit on any of those accounts.

What are the payment methods accepted by BinBot PRO?

Several payment options are offered by BinBot PRO’s partnered brokers. All you have to do is click on the “Account Funding” button. You will be redirected to the payment page of the broker you selected when registering.

BinBot PRO doesn’t charge fees. There is however a charge to withdraw your earnings from partnered brokers. The charges can be as low as 5% of the total amount you want to withdraw. You may also be charged a similar percentage when funding your account on the brokers’ site via credit cards.

Some of the accepted payment methods are:

  • Litecoin
  • Bitcoin
  • MasterCard
  • VISA
  • Tether USD (USDT)

Does BinBot PRO also charge fees and commissions?

BinBot PRO doesn’t charge any fees, nor does it have access to the funds in your account.

BinBot PRO trade sizes and limits

According to the information on the BinBot PRO’s website, the minimum amount to deposit is $250. No information was available on the maximum deposit amount. 

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BinBot PRO’s platform

How does BinBot PRO work?

First, the BinBot PRO allows you to automate your trades. You can do this in several ways. You can use any of the premade trading robots to start automating your trades immediately. However,  if you have a bit of experience setting up trading robots, consider creating a custom robot. This way, you can customize the parameters and program the bot to listen to your trade commands.

To help you get a grasp of the functionality, BinBot PRO offers a demo account. It is more of a short trial version that helps you to get a general overview of the software without funding your account. The trial lasts for a minute. You can then add money to your account on the selected broker to get access to more demo trading functionalities before the actual trades are automated.

The next step is to choose the trading robot that aligns with the assets you want to trade. Note that these bots are located at the left-hand side of your BinBot PRO page, and are ranked based on their relevance in recent times. The Crypto ADX 2.0 is currently the most used. It is used for automating cryptocurrency trades by combining the STOCH and RSI indicators to confirm the volatility in the market.

You can always choose other trading robots from the list, depending on what you want to trade on.

What device can I use BinBot PRO on?

The BinBot PRO platform can be accessed via their website. This is because it does not have a mobile application. Most web browsers can be used to access the website.

If you are particular about mobile app trading, check to see if any of BinBot PRO’s broker-partners have one.

What exchanges and brokers does BinBot PRO partner with?

BinBot PRO is in partnership with 4 major brokers to offer automated binary options and cryptocurrency trading services to its users.

The brokers are BinaryCent, VideForex, RaceOption, and iqcent.

Can I use BinBot PRO in my country?

BinBot PRO didn’t publish the accepted countries on its website. However one thing is clear, trades from the United States are not accepted.

Find out more about the accepted countries by reaching out to the BinBot PRO customer support via email.

Is BinBot PRO available in my language?

BinBot PRO supports a wide selection of languages. The supported languages include English, French, Chinese and Dutch.

How easy is it to use BinBot PRO?

There is no difficulty in using the BinBot PRO trading software. Once you sign up, add money to your brokerage account and start trading. You can choose to sit behind your laptop and monitor it yourself or go about your business while the robot does the work for you.

You don’t need to have any knowledge of technical indicators if you are using the premade trading robots. You may want to take some time to study some of the indicators if you plan to make a custom trading robot.

Key features

BinBot PRO is built with some of the best features in the automated trading robot market. These features include multiple robots, support for multiple currencies, and a fast and reliable platform.

Multiple Robots

BinBot PRO primarily offers automated trading robots for binary options. You can also use the other trading robots to trade other assets, including cryptocurrencies.

Support for Multiple Currencies

BinBot PRO also supports multiple currencies and trading pairs. Examples of these are LTC/USDT, EUR/AUD, and AUD/USD.

A Fast and Reliable Platform

You can do everything on the go, thanks to the intuitiveness of the BinBot PRO platform.

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Security and regulation

Is BinBot PRO legit?

BinBot PRO doesn’t appear to be legitimate despite the number of years it has been in the market. Some disgruntled users took to review platforms like Trustpilot to express their displeasure over the malfunctioning of the software.

Is BinBot PRO safe?

Trading is risky and automated trading is riskier. However, BinBot PRO does its best to protect the users’ personal information and bank details by using the SSL security layer.

Is my money protected? Am I protected?

BinBot PRO primarily works to protect your bank and payment details via its SSL security layer. A bulk of the fund’s protection is left to the brokers affiliated with BinBot PRO. You have to find out if those brokers protect your funds and how they do so.

Is BinBot PRO regulated?

No, BinBot PRO is not regulated. The software is not regulated by any authorized bodies, and the information on that is not available on the site.

Do I have to verify my account with BinBot PRO?

You don’t have to verify your account on the BinBot PRO platform. But the brokers affiliated with the software might require some verifications.

Extra information

Educational resources

At the time of writing this BinBot PRO review, there are no educational resources on the site.

Tools and charting

BinBot PRO does not offer trading tools. These tools could readily come in handy when you want to create your trading robot. Since these are missing, consider using a third-party application to make your charts. The charts will help you determine trends, as well as get an idea of the profitability score of the BinBot PRO trading robots.

Customer support

The customer support department of BinBot PRO is not only readily available but is also dedicated to attending to your queries. The communication channels are email and live chat.

How to get started with BinBot PRO

Getting started with the wide selection of automated trading robots offered by BinBot PRO is as easy as taking the steps below:

  • Pass the Free Registration: Quickly sign up for an account and activate the same by clicking on the link sent to your email.
  • Add Money to Your Account: You will be redirected to the broker you selected at the point of registration. Add a minimum of $250 to your account to enjoy the full perks of the automated trading software.
  • Trade and Make Money: You can now pick from any of the existing robots or create one to start automating binary options and cryptocurrency trades for you.

Conclusion

BinBot PRO strives to make binary options trading easier and more lucrative. As a trader, consider choosing the best robot from the list or create a custom one with your rules. With the right rules and parameters in place, the robot makes more money than it loses for you.

Although the BinBot PRO software isn’t yet regulated, it doesn’t appear to be a scam. Aside from being in use for 4 years, the software publicized the name of its brokers and has consistently maintained a success rate of over 90%.

Investigate with due diligence to be sure that BinBot PRO ticks most of your boxes before using it for automated trades.