IQ Robots is the unique automation trading system developed by one of the most popular brokers in the world – IQ Option. Starting from August 2016 all new and old clients of IQ Option have an option to use IQ Robots completely free of charge to automate their trading or create signals that will be used in order to open and close the trades. To create your own trading robot you no longer need any programming skills or third-party software because IQ Robots is open to everyone who has basic knowledge in financial trading or binary options. Below we have pointed out the main benefits of IQ Robots and reviewed their design whilst going through the process of creating our own trading robot.
Some other benefits of such unique product in the industry of binary options includes the opportunity for traders to completely copy their profitable strategy into IQ Robots to automate the trading process. Robot completely erases the influence of psychological factors in trading (gambling, impulsivity, nervousness, etc.), because everything is automated based on the mathematic calculations and data. In addition, every robot could be tested using historical quotes without any risk or you can even run it on the demo-account, which is FREE of charge for all IQ Option clients. Furthermore, all robots are publicly listed on the platform allowing everyone to copy each other strategies/signals. Let’s review IQ Robots platform, where all magic happens.
In order to start working with robots you need to log in to your existing IQ Option account or create a new one. You may expect some delays in the platform loading time due to very high popularity even though IQ Robots is currently in Beta testing mode (as of August 2016). Once logged in you can either choose the binary options trading robot from the catalogue or create your own. When choosing from the catalogue you can filter the search results with the following criteria: turbo or classical options, assets, profit percentage and period (when robot was made).
If you want to create your own binary options robot, then you have two options as well: use a wizard (perfect for beginners) or pick the more complicated constructor. We will look into details on creating a binary options robot at IQ Robots platform using their wizard. Wizard consists of 4 steps: selecting the strategy, trading preferences, testing and finally publishing your robot in the IQ Robots catalogue.
In your first step you give your robot a name, then pick the ready-made strategy or create your own. When constructing your robot all his decision will be based on the signals you choose to take into account, so it could be RSI indicator or for example Bollinger. Signals then could be filtered by moving averages value or by already opened positions (for example, not to open any new ones when there is an active position). Which is great about IQ Robots, that it helps you to stick to money management method, thus you can pick the size of the stake to be a % of your account balance which is the best option in theory. If you are a gambler, then you can select Martingale of course, but we wouldn’t suggest that 🙂
Moving on to the second step where you set your trading preferences by picking assets for this particular robot, as well as transaction amount. Note! There is also availability of limiting your profits and losses which is very important. Always use that, otherwise you will end up with 0 on your account balance due to some mistake in your settings.
Third step involves testing your strategy over the historical data, which is available to every client of IQ Option. You can skip it if you are copying your own strategy into IQ Robots system, but we suggest you to still do it as no real money is involved and running a test can help you evaluate the trading robot profitability. Different test period could be selected: 24 hours, 7 days, 30 days or you can manually pick the testing period from the calendar. By the end of the test you will know the trading volume, profit, net profit, efficiency, average loss, max loss and many other characteristics which have very good explanations next to them (great for beginners). In the final, fourth step, trading robot is published in the catalogue and all settings could be reviewed at this stage before you click “Launch”.
This is a screenshot of our very simple robot running on a demo-account (limited to 1 transaction per day):
After “playing around” we can say that binary options trading robot platform from IQ Robots is very simple to use and interface is very user-friendly with loads of pop-up comments/additional information about different parts. Everyone can create his own trading robot using a well-developed platform in under 5 minutes. If you feel like you don’t want to understand the whole concept of creating your own robot there is an option of copying or using the robot of someone else (more than 1000 robots in the catalogue). Easy, simple and free – what else do you need? Tournaments to compete with other traders’ robots! IQ Option made them as well with the total prize pool of $7000. At the time of writing this there were 3 traders from the UK in the TOP5 list of the tournament. Good luck to everyone competing in binary options robots’ tournament!
If you have any questions regarding IQ Robots, feel free to ask them in the comments below. Other than that there is nothing else to say about this innovative and first in this industry FREE binary options trading robot creator platform – go and try it yourself!
Binary Options is a simple financial instrument to earn money, where the first deposit is as low as £10. The best UK brokers are brought to you by MrBinary - expert in Binary Options industry with 3 years of experience.
Binary Options makes you rich not only by earning money, but also by buying shares of Apple, Google and other big companies stocks. To be a PRO at Binary Options you don't need to be a financial geek.