We must pay tribute to OptionBit – they first entered the robot into binary option trade. May be it was not entirely automated, but a working one, which is important. Algobit looks pretty impressive – in fact it is a full-featured trading platform with two modes: standard binary option trade and trade on signals.
As for the ordinary course of trade, the functional changes did not happen – in essence the platform Algobit replaces the original platform Optionbit. In the system this mode is called Manual. The advantages of the separation of regimes are on the fore – a trader can change the way of trade without leaving the system. For scalpers and fans of short-term transactions such functionality saves time, and thus provides more opportunities for good deals.
Trade on signals is much more interesting in Algobit. According to the algorithm, the robot generates the signals of the asset volatility increase and the formation of a new trend. The calculation formulas are certainly patented and are not disclosed, but it does not matter – the main thing is that they work. This will be discussed in the next section, but for now let us return to the review.
The signals are generated by two types of transactions – short-term and long-term. Short-term transaction is a purchase of a binary option with expiration 1-3-5 minutes. Long-term transaction is a purchase with expiration 15-30 minutes or more. Whatever you told on various advertising sites, here, as in the usual binary options trading, there is one immutable rule. No need to be a genius of trading to understand – the more long-term transaction, the more reliable signals Algobit system sends.
The process of trade on Algobit signals is not automatic. That is the decision to trade is made by the trader. In principle, this issue also has not much difference from the standard platform. Signal characteristics (asset and the term of the transaction) are carried out by the system, the amount is exposed by the trader and the decision on the transaction (pressing the button) is also accepted by the trader. The signals are not required – that is, if the trader does not agree with the system or wants to trade against the trend, he can easily change the initial performance without going to manual mode.
After confirmation of the transaction the trader is to wait for the expiration period of an option. Back-office of the Algobit signal system is equipped with the same tools as the original platform Optionbit. In the central panel happens online tracking of purchased options. At any time, the trader can visually determine the status of the option: green – money (win), red – out of the money (loss). Special attention should be paid to a built-in online chat with analysts of the company. Cash payment through which a trader can update their account or withdraw money without leaving the system is also present.
There is another interesting instrument in Algobit system – signal sensitivity. Its working principle is not divulged by the developers, but the gist of it is intuitively clear. The higher the sensitivity of the system the more signals it generates, and vice versa. With a high sensitivity the system detects even weak trading signals, which is not definitely good.
In conclusion of the review it can be said that Optionbit managed to create a really good tool that will soon completely replace the original platform of the broker.
That’s all for now. Got any questions? Just ask the expert!