BinaBot aka Binadroid 2.0 is a brand new binary options auto trading software that has recently been made available to the public. Those of you who have been following our blog closely probably heard whispers about the release of this new and improved version of the previously successful BinaDroid App. The first version was launched about half a year ago and has received mostly positive feedback from the binary options community, as well as other binary options authority blogs. In today’s review, we will be investigating this system further in order to determine if it is indeed a more profitable software, or if BinaBot is a scam. We encourage readers to complete this review before making any decisions to sign up.
Official Site: BinaBot.net
What is BinaBot and how does it work?
In essence, the software is a fully automated binary options trading robot, unlike the previous version which was semi-auto. This basically means the software is able to trade the financial markets for its users on 100% autopilot. The updated version retains most of the positive attributes the original had while including several more desirable features. It incorporates newer more sophisticated trading algorithms which specialize in short term trading. As the name suggests, the system takes advantage of Android technology to connect with hundreds of thousands of mobile phones worldwide, in order to extract 2 types of data:
- Market sentiment: This is collected via social media tools within smartphones. To put simply, market sentiment is the “attitude” or “psychology” of the financial markets. The direction in which the markets move can be heavily influenced by simple things such as rumors from influential people, which spread like wildfire. In this day and age, an increasing number of people get their news from social media sites such as Twitter and Facebook. This is due to its speed of delivery and real-time news reporting. A single tweet from influencers/politicians such as Donald Trump or Bill Gates is enough to change the market sentiment for a period of time. It isn’t too difficult to understand how analyzing market sentiment via social media can give BinaBot an edge in terms of making accurate and profitable short-term predictions.
- Trading Signals: By analyzing past performance, risk factors, as well as current market sentiment, the built-in ranking system filters out weak trading signals and recommends the strongest possible signals at any given time. In combination with predicting market sentiment, this seems to make BinaBot a pretty well-rounded auto trading system with a new and innovative twist to binary options trading.
Who is Troy Everett? Is he the owner of BinaBot?
Troy Everett is the man responsible for the development of the improved BinaBot software as well as the previous version. For those who are not aware, Troy has extensive knowledge in developing automated trading systems for banks and also has 15 years of experience in trading capital markets. He is the true owner of BinaBot. However, Troy Everett did not appear in front of the camera for the launch of the original version of BinaDroid. This stirred up quite a bit of controversy and left some binary options traders with doubts of its legitimacy while others immediately labeled them a scam. Fortunately, Troy Everett was very upfront in his video presentation and clarifies why he did not make an appearance previously.
He explains most programmers/developers do not necessarily have the right skill set or confidence required to promote/market their own product, so they outsource that aspect to professionals. This resulted in him receiving a ton of e-mails from the dissatisfied customers who were questioning if BinaBot was a scam due to the fact he did not reveal his true identity. For this specific reason, he decided to bite the bullet and make an appearance for BinaBot, further improving its credibility. It is painfully obvious how bad Troy is in front of a camera. Anyone with some experience can tell he required multiple takes to get the video completed. We do not necessarily see his poor presentation as a negative. Instead, we give him points for it as it appears authentic/genuine and shows he cares about his customer’s feedback as well as his product.
Why BinaBot? Wasn’t the original good enough?
The previously successful version was only released 6 months ago, why upgrade so soon? This may seem like a relatively short time period to most but 6 months is actually a long enough period of time when it comes to technological advancements as well as trading algorithms and market conditions. Most legitimate auto-traders stop performing well within a year due to their outdated trading algorithms that no longer suit the current economic conditions.
This unfortunate phenomenon can cause even the best trading robots to be categorized as scams several months after their launch. This only occurs because new traders still sign up when the systems become redundant as their algorithms are outdated. For example, BinaDroid 1 had a 75-80% winning trade accuracy when it first launched. That number is slowly decreasing to 70-75%. While not a significant drop, small changes like these could translate to thousands of dollars in lost profits over several months. It is important that you invest in a new and current auto-trader if you wish to get the most out of it. For this reason, we commend Troy for taking the initiative to update his software.
Why we think the system is worthy of an investment:
- Fully automated system unlike the previous semi-auto
- Comes with manual signals which are proven to be strong (suitable for experienced traders)
- 92% trading accuracy (we are at 87% after a day of testing)
- Real owner
- New economic calendar feature
- REVERSE trade feature which works as a fail safe
- No ridiculous guarantees or spammy popups
- No fake countdowns, timers, or “50 spots left”
- Poor presentation
- Minimum trade size increased from $5 to $25
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Is BinaBot a Scam? Review conclusion:
As is evident with our review, BinaBot 2 is not a scam! We only found 2 negatives in the form of higher trade sizes as well as a presentation that wasn’t very professional (technically a plus for us). For those reasons, we will be adding this software to our list of recommended services. We have personally made an initial investment of $250 to test it out for ourselves as we are confident in its ability to perform. Those who would like to join us can follow the steps below:
- Clear browser cookies, CTRL+SHIFT+DELETE (optional step)
- Visit the registration link: BinaBot.Net
- Enter real name and email address
- Fill in form on following page with correct country code and phone number
- Fund your trading account with the recommended broker from you region
- Turn on auto-trader and start making profits!
Questions? Contact us at email@example.com or leave us a message on Facebook for a quicker response. We respond to all inquiries within 24 hours. Thank you for taking the time to read our BinaBot review. Please leave us a comment below with questions/feedback. Trade safe!