BinBot PRO entered the market in 2016 as a third-party software that empowers traders to customize and utilize trading robots to execute and route trades to affiliated brokers.
According to online sources, since its launch, the trading software has gained popularity because of the high accuracy rate of its trade analyses. Per user reviews on BinBot PRO and Reddit threads, the software facilitates trading fiat currencies and cryptocurrencies.
For fiat currencies, BinBot PRO enables trading major currency pairs like Euro and USD. Alternatively, users can utilize the dedicated cryptocurrency trading robot offered by BinBot PRO to automate Bitcoin and Litecoin trades.
However, there are some negative reviews on Trustpilot where users complained about persistent losses. While some studies claim the software works excellently, others dismiss it as a scam to make traders lose more money than they earn.
Core Features of BinBot PRO
BinBot PRO has powerful features like customizable robots, fiat-crypto trading capabilities, etc.
Customizable trading robots
One of the standout features of BinBot PRO is the availability of customizable trading robots. Users can use the pre-made robots to start trading instantly or create a custom robot if they have some experience configuring trading bots. The customization lets users tweak parameters and program the bots per their trading preferences and commands.
Fiat and cryptocurrency trading capabilities
BinBot PRO facilitates automated trading for both fiat currencies and cryptocurrencies. For fiat currencies, it supports significant pairs like USD, EUR, etc. BinBot PRO offers a dedicated trading robot for cryptos to automate Bitcoin and Litecoin trades.
Supported fiat currencies and cryptocurrencies
Some of the top fiat currencies supported by BinBot PRO are USD and EUR. The significant cryptocurrencies backed include Bitcoin (BTC) and Litecoin (LTC).
User Feedback and Reviews
User opinions on BinBot PRO seem divided between positives and negatives.
Positive feedback from users and Reddit threads
Many Reddit threads and user reviews praise the accuracy and ease of use offered by BinBot PRO for automated trading. Users mention how the software helps them effectively trade fiat currencies and cryptocurrencies.
Negative reviews and concerns on Trustpilot
However, BinBot PRO has several negative reviews on Trustpilot, where users complain about persistent losses and dismiss the software as a scam. But it’s worth noting that trading carries risk, so losses do not necessarily mean the software is a scam.
Pros & Cons of Using BinBot Pro
Let’s look at some of the significant advantages and limitations of using BinBot PRO:
Advantages of the platform
- Supports significant fiat currencies like EUR, USD
- 90% claimed win rate
- Automates crypto trading, including Bitcoin, Litecoin
- Access to multiple trading assets
- Offers various pre-built robots with different strategies
- Discussed positively on many Reddit threads
Limitations and concerns
- The demo account only lasts 60 seconds
- There is no data on the past performance of robots
- Negative reviews on Trustpilot
- Not many testimonials are available
Trading Assets and Options
BinBot PRO focuses primarily on binary options trading and provides crypto trading access.
Focus on the binary options market.
A significant focus of BinBot PRO is binary options trading, an area where many traders face challenges. Most of its trading robots are designed to address those challenges.
Cryptocurrency trading robots and their functionalities
While the primary focus is binary options, BinBot PRO offers a few cryptocurrency trading robots. One example is the Crypto ADX 2.0 robot that automatically detects RSI and STOCH levels to analyze the volatility of supported cryptos.
BinBot PRO’s trading software and robots automate binary options/fiat currencies and cryptocurrencies like Bitcoin and Litecoin.
Leverage and Trading Options
Here’s what you need to know about leverage trading with BinBot PRO:
Understanding leverage with BinBot PRO
BinBot PRO itself does not directly offer leveraged trading. However, users can access leverage through BinBot PRO’s partner brokers and exchanges. With them, traders can enjoy up to 1:100 influence over 100 trading assets.
Risks associated with leveraged trading
While leverage can amplify gains, it also magnifies losses if trades go wrong. So caution is advised when using force, especially for beginners. Learning about the risks and utilizing any risk management tools offered by partner brokers is best.
In summary, leverage can be risky but is accessible through BinBot PRO’s partner brokers if used judiciously.
Fees, Limits, and Payment Options
BinBot PRO is free to use, but brokers charge fees. Here are the details:
Cost of using BinBot PRO
There is no direct BinBot PRO pricing – the software is free to use after signing up for an account and making the $250 minimum deposit.
Users can choose between account types like Bronze, Silver, and Gold – some with up to 100% signup bonuses when signing up with partner brokers.
Payment methods and associated fees
Users can deposit and withdraw using various payment methods through BinBot PRO’s partner brokers. Each broker has its own payment options, fees, and limits.
While BinBot PRO has no direct fees, brokers typically charge around 5% of the withdrawal fees. Some brokers may also impose card deposit fees of around 5%.
Payment methods vary but commonly include bank transfers, credit/debit cards, Bitcoin, Litecoin, Tether USD, and more.
Platform Usability and Accessibility
Here are some details about how BinBot PRO works and how to access it:
How BinBot PRO works
The first step is to sign up for an account on the BinBot PRO platform. Then, users must deposit funds into a partner broker account to access the trading robots.
Users can either utilize the pre-built robots or create customized ones using the parameters and strategies they define. The platform offers a 60-second demo account to try the software risk-free.
Next, traders select the appropriate robot for the assets they want to trade. The robots can be found on the left of the screen, ranked by popularity.
The platform aims to make automated trading easy. Once trades are automated, users can monitor or let the robots work automatically.
Device compatibility and broker partnerships
BinBot PRO works directly through its web platform – no dedicated mobile app exists. The website can be accessed through most modern web browsers.
For mobile access, traders can check if partner brokers offer mobile trading apps. Currently, BinBot PRO is partnered with brokers like BinaryCent, VideForex, RaceOption, and iQcent.
Security, Regulation, and Verification
Here’s what traders need to know regarding the security, regulation status, and identity verification with BinBot PRO:
Legitimacy concerns and user safety
While BinBot PRO appears legitimate, it is not regulated, raising some concerns. However, it uses SSL encryption to secure user data and has been operational for years.
Traders should exercise due diligence in assessing its legitimacy and performance for themselves before use.
Regulatory status and account verification
BinBot PRO is not regulated by any financial authority. No KYC identity verification is needed directly on the BinBot PRO platform.
However, its partner brokers may require identity verification to comply with KYC regulations. Users should verify the requirements before depositing through a partner broker.
BinBot PRO aims to secure user data but operates in an unregulated domain. Partner brokers may require identity verification.
Additional Features and Information
Here are some additional things to know about BinBot PRO:
Educational resources and tools
At present, BinBot PRO does not offer much in terms of educational resources or trading tools directly on its platform. Users may need to utilize third-party resources when designing custom trading robots.
Partner brokers may provide some essential trading guides. For useful trading tools and blockchain education, traders can check out Blockgeeks.
Customer support and getting started with BinBot PRO
Customer support is available via email and live chat. The process of getting started is straightforward:
- Register for a free account
- Deposit $250+ into a partner broker account
- Choose a pre-built robot or customize your own
- Automated trading can now begin!
Alternatives to BinBot PRO
For traders looking at other automated crypto trading platforms, some alternatives to consider are:
- Bitcoin Prime
- Bitcoin Evolution
These have similar offerings regarding automated crypto trading bots, platform useability, mobile accessibility, etc. Comparing various alternatives can help identify the right platform based on security, fees, and asset support. Our packed reviews provide further details about each venue.
Final Verdict: Scam or Not?
So, the big question is – Is BinBot PRO a scam?
Based on available information, BinBot PRO is not a scam. Here are some points that support its legitimacy:
- Has been operating since 2016 without major red flags
- Provides easy-to-use automated trading bots
- Backed by some partner brokers
- Claims 90% win rate on trades
- Positive feedback on Reddit threads
However, there are also some concerns given the lack of regulation. Users should exercise caution and do thorough due diligence before depositing funds or providing personal information.
Investigate all aspects thoroughly and proceed only if BinBot PRO satisfies critical criteria for your trading needs.
In summary, BinBot PRO is an established trading software that offers traders automated robots for simplified crypto and options trading.
The platform is free to use but works with partner brokers that charge fees and require identity verification.
User opinions are somewhat divided, with both positives from supporters and concerns raised by some critics. Automated trading carries risks,, so all aspects should be carefully evaluated before use.
Overall, BinBot PRO can potentially help traders automate trades profitably thanks to customizable bots, a straightforward platform, and integration with major cryptocurrencies and fiat pairs. But proceed with proper due diligence given the lack of regulation.
BinBot PRO’s automated tools can augment traders’ results if used responsibly as part of a diversified trading portfolio. However, relying solely on automation also has inherent risks. Thorough research is advised before utilizing BinBot PRO or similar trading software.