The binary options market is already experiencing growth not only in a number of brokers, but also in numbers of special auto trading software and social trading platforms. No wonder that traders find it hard to make a decision how to trade and where to deposit the money. This article will provide deeper insight in comparison of Binary Options Robot and eToro.
It is always crucial to remember that there is not a universal solution, as every trader has a different approach. However, it is important to know that reputable services are always better than suspicious ones that promise extreme returns in short time.
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Binary Options Robot Auto Trading vs. eToro Social Trading
Binary Options Robot is unique auto trading software that allows traders to trade automatically without previous knowledge on binary options. It allows traders to skip the part that includes learning complicated terms and strategies. Binary Options Robot allows traders to place their trades when and how they want to, based on the features they select. All trading signals are generated by an advanced mathematical algorithm that BOSR is based on. Read full Binary Options Robot review.
eToro is a social trading platform that operates differently. It is based on the knowledge of the crowd, and users can easily find successful traders and copy their trades. Every user can easily copy a trade with just one click. All trades are accompanied by extensive statistics on the performance, so traders are still obligated to put some effort into education in case they want to trade successfully and understand the principles of social trading. Read full eToro Review.
Binary Options Robot vs. eToro – Features
Binary Options Robot allows great profile customization. This means that trades are not placed by default, but by respecting trader’s wishes. For example, if a trader doesn’t want to trade specific currency pair, it is possible to turn that pair off. There are also many useful tools for money and portfolio management.
- Maximum Daily Trades – enables traders to set a limit on a number of trades that are to be executed on a certain day.
- Daily Stop Loss – lets users manage their money, as they can type the amount willing to invest in 24h.
All Binary Options Robot signals, upon which the trades are executed, are highly precise as the sophisticated algorithm takes all market factors into concern. Thanks to this approach, the possibility of human error is reduced to the minimum.
Binary Options Robot trading software
On the other hand, eToro is completely based on the human prediction. As a social trading platform, it simply signals the possible direction based on the popularity among traders. The statistics are calculated based on several different factors like:
- Number of copiers
- Trading history
- Additional info
There are also some handy features like people discovery, top traders’ insights, economic calendar etc.
Even though it allows traders to follow whoever and wherever they want, for successful trading it is still required for the user to has some knowledge about the binary industry. Only then it is possible to make notable profit and trade with success.
After this analysis, it seems that Binary Options Robot is the perfect solution for complete beginners, but also for advanced traders who simply don’t have time to execute analysis as they are too busy with their lives.
eToro Trading interface
Binary Options Robot vs. eToro – Accounts
Binary Options Robot offers two different account types. First is the basic account that is free for all traders and that has customization features listed above. But, there is also a VIP account that is available for all traders who make several deposits or after the first deposit. It is free, just like the basic account, but has some additional features traders might find interesting.
- Strategy – traders can select up to 4 strategies that are based on different algorithms.
- Risk Level – traders can select one of four risk level available
- Expiry times – users can decide whether they prefer short term or medium term trades and select accordingly
Binary Options Robot VIP features
This additional account type on is great as it awards traders’ loyalty and increases chances of making, even more, profit when trading with Binary Options Robot.
eToro has only one account type that is pretty basic and same for everyone. There is no difference in service provided for new and old traders, and every trader is the creator of his own luck. If they prove to be skillful, traders can become top traders. Depending on the status, every trader can get special benefits. This is just another prove that traders really need to understand binary options when trading with eToro.
Small profit can be gained by following others, but more opportunities open when some effort is put into it and one has more followers.
eToro social trading network
Binary Options Robot vs. eToro – Price
Price is always a hard subject, but money is inevitable. We all need money to live, and binary options trading can help traders to gain more profit thanks to interesting platforms and software.
Binary Options Robot is special software, not only because it is technically advanced, but also because it free. Basic and VIP account require no payments. The deposit is made only when the trader is ready to select a broker from the list, but prices of brokers vary. There are more and less expensive ones, but all of them are respectable and user-friendly. Also, different brokers have different asset portfolios, so trader isn’t limited in any way. Find reliable brokers on the Top list!
eToro requires a deposit of $50. This amount is not much, but it isn’t free either. Considering that some signal providers cost hundreds and hundreds of dollars, this is a reasonable price, but it is up to the trader to make most of it. eToro also has some maximum deposit limitations that may prevent serious traders from depositing.
Binary Options Robot vs. eToro – Conclusion
As already noted before, there is no instant and universal solution for binary options traders. Both Binary Options Robot and eToro are respected in binary options industry and this comparison has helped many traders make up their mind.
While eToro will be a good choice for developing traders who are good at strategy and analysis as they will profit the most, Binary Options Robot is the ideal solution for beginners. It provides everything needed for successful trading from the very start. Also, more experienced and professional traders can easily trade with more broker and manage their portfolio via Binary Options Robot settings.