BinBot PRO Review
Most of the trading “experts” who put them together are only experts at one thing: selling their services.
But BinBot PRO is different; it is the proprietary trading robot developed by the company that runs Finpari and BinaryMate. As these are two of our trusted binary options brokers, we definitely wanted to check out their trading robot and see what kind of value it offers traders.
What is BinBot Pro?
If you are not familiar with trading robots, you may be a little confused about what BinBot PRO is.
As a trading robot, or “bot”, BinBot PRO is a software program which trades on your behalf.
BinBot PRO is programmed with algorithms which help it to spot trade opportunities.
All you have to do is select the settings you want, and BinBot PRO will automatically trade for you while you kick back and relax. BinBot PRO works even when you are away from your computer.
In short, BinBot PRO takes the hard work out of trading.
What Does BinBot Pro Cost?
The answer here could not be simpler: nothing. 100% free.
That’s right, according to the BinBot Pro homepage, there is “No fee, nothing to buy, no hoops to jump through!”
You will not pay a dime to access this service.
What’s the Catch?
Nothing is really free, right? Well, you are right —there is a catch. But it is a typical one, not a bad one.
In order to use BinBot Pro, you need to be a registered trader at either BinaryMate or Finpari. That means you need to make the minimum deposit at either broker and start trading.
This is quite common with free binary trading robots. Many of them either are proprietary or partner with certain brokers, offering their services only to the customers of those brokers.
What is great about BinBot Pro is that they are totally up-front about that on the homepage. A lot of other trading robots conceal this information until you are halfway through the registration process.
BinBot Pro is not going to waste your time; if you do not want to trade at Finpari or BinaryMate, there is no reason to register. But if you do want to trade with one of those brokers, you get free signals to help you trade.
How to Get Started On BinBot Pro
If you do want to move forward with BinBot Pro, you need to click on the green “Registration” button in the upper right-hand corner of the BinBot Pro homepage. You will also find a duplicate green “Registration” button right under the heading.
This will take you to a short form where you input your first and last name, phone number, account currency, email address, and password. Here you can also choose your broker. Here is a little more information on each:
Minimum deposit: $250
Minimum investment amount: $10 (it says $1 on the BinBot Pro website, but I think this is a typo; on Finpari’s website it says $10)
Maximum returns: 90%+
USA traders not accepted
Minimum deposit: $250
Minimum investment amount: $1
Maximum returns: 90%+
USA traders accepted
Live webcam trading with beautiful account managers
Both of these brokers offer extra features like a demo account, web courses, risk-free trades, high bonuses, and trading contests. Learn more about them in our reviews.
What if you are already a member of Finpari or BinaryMate? If that is the case, I would contact customer service and ask them about getting started with BinBot Pro. They can probably get you set up manually.
How BinBot Pro Works
Once you have registered with Finpari or BinaryMate, you need to make your initial deposit. You are then ready to start trading with BinBot Pro.
Using BinBot Pro could not be easier. There are three simple steps:
1. Once you are logged into BinBot Pro, you will see a section in the lower left-hand corner of your screen for “Top 20 Robots.” Here you can select a robot to use. Profit estimates are provided for each. The robots have names like Bolly Band Bounce, RSIMA Cross, HP cycles and Rising East v1.2, which seem to give some indication as to how they generate signals and what assets they are for.
2. Once you have selected a robot, a screen will open which allows you to start the robot. You can hit “Stop” at any time. Next to that is an “Add Balance” button if you wish to deposit more money directly through the robot interface.
3. Watch your profits stack up! (or losses go down) You can see your current balance in the upper left.
BinBot Pro Features
Multiple robots are available to use. Many auto-trading programs only offer one robot.
You can run any of the robots in demo mode before you try using it live.
You can create custom robots as well which will trade on your behalf according to your rules. There are only a few assets and indicators you can use for this, so it is a pretty restricted feature right now, but many trading robots do not even offer anything like this.
That is it as far as features go. BinBot Pro is pretty bare-bones; you will not find a lot of bells and whistles here. But the platform is intuitive and the available features are easy to use.
Does BinBot Pro Deliver? Is BinBotPro Legit?
This is where it is impossible to say anything definitive. Unfortunately BinBot Pro does not publish past results. This is actually quite a significant drawback, since you are basically just taking a shot in the dark with these robots.
Because Finpari/BinaryMate has a reputation to defend, we are assuming that BinBot Pro delivers, but you may want to fund your account with the minimum when you are testing these robots.
Robots can and will lose money if the setting you apply end up not being ideal. I know that in this industry we would be naive to believe that any automatic trading ‘robot’ is going to crank out profits for us just by clicking a few buttons once and then going to the beach.
If you work with Bin Bot Pro, I am confident that you can fine tune it to be a winning trader. It isn’t simple or easy to constantly pick winners though, even for our robot overlords.
BinBot Pro Customer Service
This is another area where BinBot Pro is less than impressive. On a weekday during standard market hours, the live chat desk was unstaffed. I waited ten minutes, and then the chat window converted into a “send us a message” form window. This makes me wonder if or when the chat desk is ever staffed.
BinBot Pro Pros
BinBot Pro is entirely free to use.
While you have to open an account at one of BinBot Pro’s brokers, they are transparent about this on the homepage, and the two brokers are both on our recommended list.
There are a number of robots you can use, and you can demo them all first.
You can create your own custom robots.
BinBot Pro is ridiculously easy to use. Registering is fast and easy, and the interface is simple and streamlined.
BinBot Pro Cons
There is no information about the past performance of the robots.
Customer service seems to be a bit absent.
Conclusion: BinBot Pro is a Useful Free Tool for Finpari and BinaryMate Traders
While I am not impressed by the lack of past performance data or the missing customer service, BinBot Pro does have a lot of cool features. Considering it is an entirely free tool for customers who sign up for two top-shelf brokers, I would definitely recommend giving it a try if you will be trading on Finpari or BinaryMate. Because there is no performance data right now, I do suggest that you trade with the minimum to start. That way you can see for yourself how the robots perform before you risk large amounts of money.
Visit BinBotPro.com to get your free trading robot today.