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Binary Options Review; Best Binary Options Brokers
We have compared the best regulated binary options brokers and platforms in May 2020 and created this top list. Every binary options company here has been personally reviewed by us to help you find the best binary options platform for both beginners and experts. The broker comparison list below shows which binary trading sites came out on top based on different criteria.
You can put different trading signals into consideration such as using payout (maximum returns), minimum deposit, bonus offers, or if the operator is regulated or not. You can also read full reviews of each broker, helping you make the best choice. This review is to ensure traders don't lose money in their trading account.
How to Compare Brokers and Platforms
In order to trade binary options, you need to engage the services of a binary options broker that accepts clients from your country e.g. check US trade requirements if you are in the United States. Here at bitcoinbinaryoptionsreview.com, we have provided all the best comparison factors that will help you select which trading broker to open an account with. We have also looked at our most popular or frequently asked questions, and have noted that these are important factors when traders are comparing different brokers:
Regulation and licensing is a key factor when judging the best broker. Unregulated brokers are not always scams, or untrustworthy, but it does mean a trader must do more ‘due diligence’ before trading with them. A regulated broker is the safest option.
Regulators - Leading regulatory bodies include:
Regulation is there to protect traders, to ensure their money is correctly held and to give them a path to take in the event of a dispute. It should therefore be an important consideration when choosing a trading partner.
Bonuses - Both sign up bonuses and demo accounts are used to attract new clients. Bonuses are often a deposit match, a one-off payment, or risk-free trade. Whatever the form of a bonus, there are terms and conditions that need to be read.
It is worth taking the time to understand those terms before signing up or clicking accept on a bonus offer. If the terms are not to your liking then the bonus loses any attraction and that broker may not be the best choice. Some bonus terms tie in your initial deposit too. It is worth reading T&Cs before agreeing to any bonus, and worth noting that many brokers will give you the option to ‘opt-out’ of taking a bonus.
Using a bonus effectively is harder than it sounds. If considering taking up one of these offers, think about whether, and how, it might affect your trading. One common issue is that turnover requirements within the terms, often cause traders to ‘over-trade’. If the bonus does not suit you, turn it down.
How to Find the Right Broker
But how do you find a good broker? Well, that’s where BitcoinBinaryOptionsReview.com comes in. We assess and evaluate binary options brokers so that traders know exactly what to expect when signing up with them. Our financial experts have more than 20 years of experience in the financial business and have reviewed dozens of brokers.
Being former traders ourselves, we know precisely what you need. That’s why we’ll do our best to provide our readers with the most accurate information. We are one of the leading websites in this area of expertise, with very detailed and thorough analyses of every broker we encounter. You will notice that each aspect of any broker’s offer has a separate article about it, which just goes to show you how seriously we approach each company. This website is your best source of information about binary options brokers and one of your best tools in determining which one of them you want as your link to the binary options market.
Why Use a Binary Options Trading Review?
So, why is all this relevant? As you may already know, it is difficult to fully control things that take place online. There are people who only pose as binary options brokers in order to scam you and disappear with your money. True, most of the brokers we encounter turn out to be legit, but why take unnecessary risks?
Just let us do our job and then check out the results before making any major decisions. All our investigations regarding brokers’ reliability can be seen if you click on our Scam Tab, so give it a go and see how we operate. More detailed scam reports than these are simply impossible to find. However, the most important part of this website can be found if you go to our Brokers Tab.
There you can find extensive analyses of numerous binary options brokers irrespective of your trading strategy. Each company is represented with an all-encompassing review and several other articles dealing with various aspects of their offer. A list containing the very best choices will appear on your screen as you enter our website whose intuitive design will allow you to access all the most important information in real-time.
We will explain minimum deposits, money withdrawals, bonuses, trading platforms, and many more topics down to the smallest detail. Rest assured, this amount of high-quality content dedicated exclusively to trading cannot be found anywhere else. Therefore, visiting us before making any important decisions regarding this type of trading is the best thing to do.
CONCLUSION: Stay ahead of the market, and recover from all kinds of binary options trading loss, including market losses in bitcoin, cryptocurrency, and forex markets too. Send your request via email to - [email protected]
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Founded by HDR Global Trading Limited (which in turn was founded by former bankers Arthur Hayes, Samuel Reed and Ben Delo) in 2014, BitMEX is a trading platform operating around the world and registered in the Seychelles.
Meaning Bitcoin Mercantile Exchange, BitMEX is one of the largest Bitcoin trading platforms currently operating, with a daily trading volume of over 35,000 BTC and over 540,000 accesses monthly and a trading history of over $34 billion worth of Bitcoin since its inception.
Unlike many other trading exchanges, BitMEX only accepts deposits through Bitcoin, which can then be used to purchase a variety of other cryptocurrencies. BitMEX specialises in sophisticated financial operations such as margin trading, which is trading with leverage. Like many of the exchanges that operate through cryptocurrencies, BitMEX is currently unregulated in any jurisdiction.
How to Sign Up to BitMEXIn order to create an account on BitMEX, users first have to register with the website. Registration only requires an email address, the email address must be a genuine address as users will receive an email to confirm registration in order to verify the account. Once users are registered, there are no trading limits. Traders must be at least 18 years of age to sign up.
However, it should be noted that BitMEX does not accept any US-based traders and will use IP checks to verify that users are not in the US. While some US users have bypassed this with the use of a VPN, it is not recommended that US individuals sign up to the BitMEX service, especially given the fact that alternative exchanges are available to service US customers that function within the US legal framework.
How to Use BitMEX
BitMEX allows users to trade cryptocurrencies against a number of fiat currencies, namely the US Dollar, the Japanese Yen and the Chinese Yuan. BitMEX allows users to trade a number of different cryptocurrencies, namely Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Monero, Ripple, Tezos and Zcash.
The trading platform on BitMEX is very intuitive and easy to use for those familiar with similar markets. However, it is not for the beginner. The interface does look a little dated when compared to newer exchanges like Binance and Kucoin’s.
Once users have signed up to the platform, they should click on Trade, and all the trading instruments will be displayed beneath.
Clicking on the particular instrument opens the orderbook, recent trades, and the order slip on the left. The order book shows three columns – the bid value for the underlying asset, the quantity of the order, and the total USD value of all orders, both short and long.
The widgets on the trading platform can be changed according to the user’s viewing preferences, allowing users to have full control on what is displayed. It also has a built in feature that provides for TradingView charting. This offers a wide range of charting tool and is considered to be an improvement on many of the offering available from many of its competitors.
Once trades are made, all orders can be easily viewed in the trading platform interface. There are tabs where users can select their Active Orders, see the Stops that are in place, check the Orders Filled (total or partially) and the trade history. On the Active Orders and Stops tabs, traders can cancel any order, by clicking the “Cancel” button. Users also see all currently open positions, with an analysis if it is in the black or red.
BitMEX uses a method called auto-deleveraging which BitMEX uses to ensure that liquidated positions are able to be closed even in a volatile market. Auto-deleveraging means that if a position bankrupts without available liquidity, the positive side of the position deleverages, in order of profitability and leverage, the highest leveraged position first in queue. Traders are always shown where they sit in the auto-deleveraging queue, if such is needed.
Although the BitMEX platform is optimized for mobile, it only has an Android app (which is not official). There is no iOS app available at present. However, it is recommended that users use it on the desktop if possible.
BitMEX offers a variety of order types for users:
Futures and SwapsA futures contract is an agreement to buy or sell a given asset in the future at a predetermined price. On BitMEX, users can leverage up to 100x on certain contracts.
Perpetual swaps are similar to futures, except that there is no expiry date for them and no settlement. Additionally, they trade close to the underlying reference Index Price, unlike futures, which may diverge substantially from the Index Price.
BitMEX also offers Binary series contracts, which are prediction-based contracts which can only settle at either 0 or 100. In essence, the Binary series contracts are a more complicated way of making a bet on a given event.
The only Binary series betting instrument currently available is related to the next 1mb block on the Bitcoin blockchain. Binary series contracts are traded with no leverage, a 0% maker fee, a 0.25% taker fee and 0.25% settlement fee.
Bitmex LeverageBitMEX allows its traders to leverage their position on the platform. Leverage is the ability to place orders that are bigger than the users’ existing balance. This could lead to a higher profit in comparison when placing an order with only the wallet balance. Trading in such conditions is called “Margin Trading.”
There are two types of Margin Trading: Isolated and Cross-Margin. The former allows the user to select the amount of money in their wallet that should be used to hold their position after an order is placed. However, the latter provides that all of the money in the users’ wallet can be used to hold their position, and therefore should be treated with extreme caution.
The BitMEX platform allows users to set their leverage level by using the leverage slider. A maximum leverage of 1:100 is available (on Bitcoin and Bitcoin Cash). This is quite a high level of leverage for cryptocurrencies, with the average offered by other exchanges rarely exceeding 1:20.
BitMEX FeesFor traditional futures trading, BitMEX has a straightforward fee schedule. As noted, in terms of leverage offered, BitMEX offers up to 100% leverage, with the amount off leverage varying from product to product.
However, it should be noted that trading at the highest leverages is sophisticated and is intended for professional investors that are familiar with speculative trading. The fees and leverage are as follows:
However, there are additional fees for hidden / iceberg orders. A hidden order pays the taker fee until the entire hidden quantity is completely executed. Then, the order will become normal, and the user will receive the maker rebate for the non-hidden amount.
Deposits and WithdrawalsBitMEX does not charge fees on deposits or withdrawals. However, when withdrawing Bitcoin, the minimum Network fee is based on blockchain load. The only costs therefore are those of the banks or the cryptocurrency networks.
As noted previously, BitMEX only accepts deposits in Bitcoin and therefore Bitcoin serves as collateral on trading contracts, regardless of whether or not the trade involves Bitcoin.
The minimum deposit is 0.001 BTC. There are no limits on withdrawals, but withdrawals can also be in Bitcoin only. To make a withdrawal, all that users need to do is insert the amount to withdraw and the wallet address to complete the transfer.
Deposits can be made 24/7 but withdrawals are processed by hand at a recurring time once per day. The hand processed withdrawals are intended to increase the security levels of users’ funds by providing extra time (and email notice) to cancel any fraudulent withdrawal requests, as well as bypassing the use of automated systems & hot wallets which may be more prone to compromise.
Supported CurrenciesBitMEX operates as a crypto to crypto exchange and makes use of a Bitcoin-in/Bitcoin-out structure. Therefore, platform users are currently unable to use fiat currencies for any payments or transfers, however, a plus side of this is that there are no limits for trading and the exchange incorporates trading pairs linked to the US Dollar (XBT), Japanese Yen (XBJ), and Chinese Yuan (XBC).
BitMEX supports the following cryptocurrencies:
Trading Technologies International PartnershipHDR Global Trading, the company which owns BitMEX, has recently announced a partnership with Trading Technologies International, Inc. (TT), a leading international high-performance trading software provider.
The TT platform is designed specifically for professional traders, brokers, and market-access providers, and incorporates a wide variety of trading tools and analytical indicators that allow even the most advanced traders to customize the software to suit their unique trading styles. The TT platform also provides traders with global market access and trade execution through its privately managed infrastructure and the partnership will see BitMEX users gaining access to the trading tools on all BitMEX products, including the popular XBT/USD Perpetual Swap pairing.
The BitMEX Insurance FundThe ability to trade on leverage is one of the exchange’s main selling points and offering leverage and providing the opportunity for traders to trade against each other may result in a situation where the winners do not receive all of their expected profits. As a result of the amounts of leverage involved, it’s possible that the losers may not have enough margin in their positions to pay the winners.
Traditional exchanges like the Chicago Mercantile Exchange (CME) offset this problem by utilizing multiple layers of protection and cryptocurrency trading platforms offering leverage cannot currently match the levels of protection provided to winning traders.
In addition, cryptocurrency exchanges offering leveraged trades propose a capped downside and unlimited upside on a highly volatile asset with the caveat being that on occasion, there may not be enough funds in the system to pay out the winners.
To help solve this problem, BitMEX has developed an insurance fund system, and when a trader has an open leveraged position, their position is forcefully closed or liquidated when their maintenance margin is too low.
Here, a trader’s profit and loss does not reflect the actual price their position was closed on the market, and with BitMEX when a trader is liquidated, their equity associated with the position drops down to zero.
In the following example, the trader has taken a 100x long position. In the event that the mark price of Bitcoin falls to $3,980 (by 0.5%), then the position gets liquidated with the 100 Bitcoin position needing to be sold on the market.
This means that it does not matter what price this trade executes at, namely if it’s $3,995 or $3,000, as from the view of the liquidated trader, regardless of the price, they lose all the equity they had in their position, and lose the entire one Bitcoin.
Assuming there is a fully liquid market, the bid/ask spread should be tighter than the maintenance margin. Here, liquidations manifest as contributions to the insurance fund (e.g. if the maintenance margin is 50bps, but the market is 1bp wide), and the insurance fund should rise by close to the same amount as the maintenance margin when a position is liquidated. In this scenario, as long as healthy liquid markets persist, the insurance fund should continue its steady growth.
The following graphs further illustrate the example, and in the first chart, market conditions are healthy with a narrow bid/ask spread (just $2) at the time of liquidation. Here, the closing trade occurs at a higher price than the bankruptcy price (the price where the margin balance is zero) and the insurance fund benefits.
Illustrative example of an insurance contribution – Long 100x with 1 BTC collateral
(Note: The above illustration is based on opening a 100x long position at $4,000 per BTC and 1 Bitcoin of collateral. The illustration is an oversimplification and ignores factors such as fees and other adjustments.
The bid and offer prices represent the state of the order book at the time of liquidation. The closing trade price is $3,978, representing $1 of slippage compared to the $3,979 bid price at the time of liquidation.)
The second chart shows a wide bid/ask spread at the time of liquidation, here, the closing trade takes place at a lower price than the bankruptcy price, and the insurance fund is used to make sure that winning traders receive their expected profits.
This works to stabilize the potential for returns as there is no guarantee that healthy market conditions can continue, especially during periods of heightened price volatility. During these periods, it’s actually possible that the insurance fund can be used up than it is built up.
Illustrative example of an insurance depletion – Long 100x with 1 BTC collateral
(Notes: The above illustration is based on opening a 100x long position at $4,000 per BTC and 1 Bitcoin of collateral. The illustration is an oversimplification and ignores factors such as fees and other adjustments.
The bid and offer prices represent the state of the order book at the time of liquidation. The closing trade price is $3,800, representing $20 of slippage compared to the $3,820 bid price at the time of liquidation.)
The exchange declared in February 2019, that the BitMEX insurance fund retained close to 21,000 Bitcoin (around $70 million based on Bitcoin spot prices at the time).
This figure represents just 0.007% of BitMEX’s notional annual trading volume, which has been quoted as being approximately $1 trillion. This is higher than the insurance funds as a proportion of trading volume of the CME, and therefore, winning traders on BitMEX are exposed to much larger risks than CME traders as:
This system may appear controversial as first, though some may argue that there is a degree of uniformity to it. It’s also worth noting that the exchange also makes use of Auto Deleveraging which means that on occasion, leveraged positions in profit can still be reduced during certain time periods if a liquidated order cannot be executed in the market.
More adventurous traders should note that while the insurance fund holds 21,000 Bitcoin, worth approximately 0.1% of the total Bitcoin supply, BitMEX still doesn’t offer the same level of guarantees to winning traders that are provided by more traditional leveraged trading platforms.
Given the inherent volatility of the cryptocurrency market, there remains some possibility that the fund gets drained down to zero despite its current size. This may result in more successful traders lacking confidence in the platform and choosing to limit their exposure in the event of BitMEX being unable to compensate winning traders.
How suitable is BitMEX for Beginners?BitMEX generates high Bitcoin trading levels, and also attracts good levels of volume across other crypto-to-crypto transfers. This helps to maintain a buzz around the exchange, and BitMEX also employs relatively low trading fees, and is available round the world (except to US inhabitants).
This helps to attract the attention of people new to the process of trading on leverage and when getting started on the platform there are 5 main navigation Tabs to get used to:
In addition, BitMEX provides a variety of educational resources including an FAQ section, Futures guides, Perpetual Contracts guides, and further resources in the “References” account tab.
For users looking for more in depth analysis, the BitMEX blog produces high level descriptions of a number of subjects and has garnered a good reputation among the cryptocurrency community.
Most importantly, the exchange also maintains a testnet platform, built on top of testnet Bitcoin, which allows anyone to try out programs and strategies before moving on to the live exchange.
This is crucial as despite the wealth of resources available, BitMEX is not really suitable for beginners, and margin trading, futures contracts and swaps are best left to experienced, professional or institutional traders.
Margin trading and choosing to engage in leveraged activity are risky processes and even more advanced traders can describe the process as a high risk and high reward “game”. New entrants to the sector should spend a considerable amount of time learning about margin trading and testing out strategies before considering whether to open a live account.
Is BitMEX Safe?BitMEX is widely considered to have strong levels of security. The platform uses multi-signature deposits and withdrawal schemes which can only be used by BitMEX partners. BitMEX also utilises Amazon Web Services to protect the servers with text messages and two-factor authentication, as well as hardware tokens.
BitMEX also has a system for risk checks, which requires that the sum of all account holdings on the website must be zero. If it’s not, all trading is immediately halted. As noted previously, withdrawals are all individually hand-checked by employees, and private keys are never stored in the cloud. Deposit addresses are externally verified to make sure that they contain matching keys. If they do not, there is an immediate system shutdown.
In addition, the BitMEX trading platform is written in kdb+, a database and toolset popular amongst major banks in high frequency trading applications. The BitMEX engine appears to be faster and more reliable than some of its competitors, such as Poloniex and Bittrex.
They have email notifications, and PGP encryption is used for all communication.
The exchange hasn’t been hacked in the past.
How Secure is the platform?As previously mentioned, BitMEX is considered to be a safe exchange and incorporates a number of security protocols that are becoming standard among the sector’s leading exchanges. In addition to making use of Amazon Web Services’ cloud security, all the exchange’s systems can only be accessed after passing through multiple forms of authentication, and individual systems are only able to communicate with each other across approved and monitored channels.
Communication is also further secured as the exchange provides optional PGP encryption for all automated emails, and users can insert their PGP public key into the form inside their accounts.
Once set up, BitMEX will encrypt and sign all the automated emails sent by you or to your account by the [[email protected]](mailto:[email protected]) email address. Users can also initiate secure conversations with the support team by using the email address and public key on the Technical Contact, and the team have made their automated system’s PGP key available for verification in their Security Section.
The platform’s trading engine is written in kdb+, a database and toolset used by leading financial institutions in high-frequency trading applications, and the speed and reliability of the engine is also used to perform a full risk check after every order placement, trade, settlement, deposit, and withdrawal.
All accounts in the system must consistently sum to zero, and if this does not happen then trading on the platform is immediately halted for all users.
With regards to wallet security, BitMEX makes use of a multisignature deposit and withdrawal scheme, and all exchange addresses are multisignature by default with all storage being kept offline. Private keys are not stored on any cloud servers and deep cold storage is used for the majority of funds.
Furthermore, all deposit addresses sent by the BitMEX system are verified by an external service that works to ensure that they contain the keys controlled by the founders, and in the event that the public keys differ, the system is immediately shut down and trading halted. The exchange’s security practices also see that every withdrawal is audited by hand by a minimum of two employees before being sent out.
BitMEX Customer SupportThe trading platform has a 24/7 support on multiple channels, including email, ticket systems and social media. The typical response time from the customer support team is about one hour, and feedback on the customer support generally suggest that the customer service responses are helpful and are not restricted to automated responses.
The BitMEX also offers a knowledge base and FAQs which, although they are not necessarily always helpful, may assist and direct users towards the necessary channels to obtain assistance.
BitMEX also offers trading guides which can be accessed here
ConclusionThere would appear to be few complaints online about BitMEX, with most issues relating to technical matters or about the complexities of using the website. Older complaints also appeared to include issues relating to low liquidity, but this no longer appears to be an issue.
BitMEX is clearly not a platform that is not intended for the amateur investor. The interface is complex and therefore it can be very difficult for users to get used to the platform and to even navigate the website.
However, the platform does provide a wide range of tools and once users have experience of the platform they will appreciate the wide range of information that the platform provides.
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Most beginners who open trading accounts on cryptocurrency exchanges and start independent trading, see only one goal — to earn as quickly as possible.
This is a big mistake. The fact is that trading on the stock exchange will only become truly profitable when it becomes a priority for the person who came to trading. As a rule, to combine trade with any other occupation and at the same time everywhere to succeed will not work.
Trading for a novice trader should be if not the main, then a very important and priority occupation. No need to wait for quick results.
Trading on the stock exchange — the same profession as a doctor, Builder or engineer. The only difference is that she can’t go to University. Just as one learns to be a Builder for five years, so it takes years to learn all the wisdom and secrets of the trade. Trading on the stock exchange is not a Stayer distance, it is a marathon. And the winner is the one who will find the courage to reach the end.
In addition, trade is very much changing a person, showing his qualities, which in everyday life he does not know. Over time, if a trader really wants to succeed in trading, he must completely rethink his life, change the system of values and look at many things, change himself.
Fear as a Component of TradingThe strongest emotion known to man is, of course, fear. What gives rise to the exchange’s fears? We can not predict the behavior of the market, and therefore fully control their money invested in its instruments. In addition to the unknown, when there is no understanding of how to safely get out of a predicament, we are afraid in advance of what traumatized us earlier. Because fear is so emotional, you need to surround yourself with the right facts to drive it away. We need to know for sure that our trading system should not generate more than three consecutive losing trades. Winners plan what to do if their trades fail.
So only a systematic approach will protect us from ourselves. That is why the investment rules written in the trading templates exist not only to communicate the best market opportunities but, more importantly, to protect us from our own internal “demons”.
Emotions in TradingSeekers of strong emotions, adrenaline forget everything in pursuit of excitement. It follows that a novice investor, overtaken by the “adrenaline curse”, will trade at the slightest opportunity. Yet Dostoevsky, one of the most famous and avid players, said that for him the most acute feeling in life — to win money. The second most acute feeling is to lose them.
Paradoxically, few things give more pleasure than getting rid of the pain and torment of being in a losing trade. This creates a mental internal conflict. Awareness of losses brings “excitement” or a sense of exaltation, and our emotionality does not care what we pay for these experiences losses in the brokerage account. “Adrenaline curse” will drive us into the trade for thrills and extract them from there, regardless of the price.
Intuition on the ExchangeThe mind of an intuitive investor tries to construct mental constructions of events. I will try to explain what mental construction is by the example of a chess player’s thinking. The grandmaster understands and remembers the position of each figure in terms of its mental constructions and relationships inherent in the arrangement of figures. The random arrangement of the figures does not fit into any of his mental constructs, and he cannot structure what he sees.
Market patterns on cryptocurrency charts compared to chess compositions include an excessive element of chaos so that they can be interpreted intuitively. Investors with intuition are able to achieve success with the help of” flair”, but this flair often leaves them. The intellect of the rational trader, on the contrary, is manifested in his ability to logically comprehend what is happening to him and to the reality around him and to make on this basis the simplest and most correct decision. Intuition is the ability of a person to penetrate into the essence of things not by reasoning or logical thinking, but by instantaneous, unconscious insight. This is the ability of a trader to “ see the market not with his mind but with his heart.” But, even with a highly developed intuition, you can not act on the market, using only it.This is the trap of intuitive trading — it is impossible to learn.
Fear of Taking ResponsibilityWhat distinguishes successful traders from losers who lose money? First of all look at life. Most people are very passive.
If you ask people if they are happy with their lives, the answer is likely to be negative. On the question of who is to blame, I would say that the fault of the parents who have not given a good education, why now not get a good job; blame the employer who delays wages; blame the dollar, which is rising, then falling; to blame the President and the government who do not pay pensions, etc., In their troubles and problems most of the people blame anyone but themselves.
The same thing happens in the market because the exchange is a mirror of our life. Talk to the trader losing money, ask why he can’t make money in the market. He replied that the fault of the insiders, manipulators, blame the binary options broker too much Commission, to blame the neighbor who suggested the deal, which turned into a heavy loss. In other words, he himself would have been a millionaire long ago, but for a number of reasons, certainly beyond his control, until that happened.
If a person wants to achieve something-not just to lead a life, which are millions of ordinary people (every day to go to work, save five years for a car, twenty years for an apartment, etc.), and to live a full life, so that the financial issue went into the background, to work for fun, not for money, he needs to take responsibility for everything that happens in his life. A person needs to realize that the cause of everything that happens to him is himself.It is this view that allows you to succeed in life and in any business. And trade is no exception.
This is the way successful traders look at life. Once you realize that the cause of all your losses is yourself, and not some mythical manipulators, then the case will move forward.
In the age of digital technologies, when artificial intelligence develops, computer technologies improve, mankind creates various tools to facilitate their own life and everyday life.
If we pay attention to trading, then this direction is actively developing, getting new and unique tools. Since any trader (beginner or experienced specialist) is subject to emotions and various psychological factors, there are tools such as trading bots.
Trading Bots/RobotsA trading robot (bot) is a program that has a certain algorithm. It buys or sells cryptocurrency assets, focusing on the situation in the market. The first trading robots appeared in 2012, and since then they have become more and more perfect. Currently, according to some estimates, 90% of short-term transactions are made either by bots or with their participation.
Bots are usually developed for specific trading platforms. Most cryptocurrency exchanges have an API, and they are generally positive about free auto trading within their platform.
In contrast to the positive attitude to exchange robots, exchanges often have a negative attitude to arbitration robots. On the rules of trade can be found in the official documentation of the exchange, and if there is no such information, the question can be asked directly to technical support.Some people wonder: is it possible to write your bot trader? This is not an easy option, which is suitable only for experienced programmers. After writing, bots are tested for a long time in the market, corrected numerous errors, corrected strategy.
A programmer can also write a bot based on someone else’s code. Some bots are open source, and anyone can find it on GitHub and modify it to fit their needs.
Buy a bot for trading cryptocurrency: there are inexpensive programs for trading (about $ 10), and the cost of more high-quality and complex exceeds more than $ 200 and even $ 1000. There is no maximum price limit for bots, top bots are written to order $ 1500 and more.
Users are usually offered a choice of several tariff plans for crypto bots, from economy to luxury. The inexpensive option includes the most basic trading algorithms, and the expensive one brings maximum profit and works on more complex algorithms. Arbitration bots are a more expensive exchange. Known cases when downloading the bot, people got on your computer virus-miner or virus-cipher, which encrypt all your personal files and demanded a ransom in bitcoin, usually in bitcoin. Naturally, after transferring the ransom to the specified wallet, no decryption of the files occurred.
Trading strategy of stock and arbitrage bots can be very simple, for example:- When the price of cryptocurrency decreases, you need to buy it.- If the price rises, it should be sold.- Or much more complicated. The algorithm can take into account historical data for the last time, indicators, navigate by signals. Quality bots analyze more than a hundred parameters when placing orders.
Some programs do not change the algorithm, and there are bots that can connect or configure additional parameters. This option is well suited for experienced traders who have their own preferences in the style of trading.
A standard bot can perform such actions:- To assess the market situation, to monitor the rate at a given period of time, to make a forecast. In manual trading, it can show signals to the trader.- Create buy or sell orders.- To report on the profit or loss received.
On the example of our IMBA-Exchange, we came to the conclusion that we also need to provide an opportunity for each trader to use bots so that they can be in a comfortable trading environment.
Our exchange specialists are developing their own bot for cryptocurrency trading, which will be an excellent and convenient addition to every trader who wants to eliminate the psychological factor and seeks to get stable earnings without losing personal time.
IMBA-Exchange Metronix bot makes life easier for every investor.
For example, Ing. Michael Eder the CEO of IMBA-Exchange, who has 10 years of experience in trading and the last 3 years in cryptocurrency trading, has firmly decided for himself that in the current realities trading on the exchange simply needs bots:
Throughout the time that I have been trading, I can confidently say that today trading bots are necessary for all traders as the main tool. No matter how long you are in exchange trading, but the nature of the person is designed so that under the influence of psychological factors, market conditions, etc. You still make mistakes and, as a result, this leads to financial losses.Our Metronix Trading Bot will help to solve these problems and eliminate negative consequences. A bot is a tool; it has no feelings. He performs a specific task for a given program and performs it almost unmistakably. The task of the trader is to monitor the situation on the market and correctly, as well as at the right time to configure your bot.Stay with us, in front of you will find many interesting and new.
Material developed by experts IMBA-Exchange
New core improvements, expanding the narrative, and some of the new features. This update is a stepping stone for a larger update that will arrive in Q4 of 2018:
3.0 Patch Notes:
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Pocket Option Review 2020 - Best Binary Options Broker Worldwide 1% Volumen Cashback: http://bit.ly/Pocketcashback (Pocket Option Accepts Traders from the US... List of the 8 best Binary Options Brokers 2019 - Trading Review Read more about it: https://www.binary-options-review.com/best-binary-options-brokers/ In t... At this time, traders at binary options brokers can trade in ninety+ different types of underlying property. They consist of a selection of currency pairs, current market indices, stocks and ... Suddenly, a whole list of brokers using Spotoption, the main platform provider for 90% of the brokers out there - stopped accepting US clients. Watch the video and click the link for more details ...