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Binary options robot trading software is often sold by binary options brokers, claiming to help you make easy money through binary options trading. However, binary options robot software is also one of the most common ways that fraudulent options brokers defraud their clients.
If you want to get into binary options trading, it is important to know how to avoid being deceived by binary robot scams and what to do if you are unfortunate enough to become a victim of such a scam.
What is a Binary Options Robot?
A binary options trading robot is a piece of software that purportedly uses a pre-programmed algorithm to study the binary options market and provide you with trading recommendations. Broker platforms claim that their robots will provide you with advice on how to make low-risk, high-reward trades, but keep in mind that many of these robots are just binary options scams.
How do binary robots work?
Binary options trading robots can be purchased through certain binary options brokerage platforms, which are usually unlicensed and unregulated. In order to download and use the trading software, you usually have to pay a fixed fee and/or a monthly subscription fee.
Also known as automated trading software, these robot platforms help you perform daily binary options trades using algorithmic predictions of trading signals and market patterns. In other words, the software monitors and analyzes the binary options market and provides you with profitable trades. You can make these trades manually or have the robot automatically make the trades for you.
