Algobit is an innovative binary options signals software that is available free of cost when you open an account with the Optionbit binary options broker. Algobit was awarded the best product of the year in the 2012 Financial Innovation Awards (FIA). It also won the award for Best Innovative Technology for 2012. Algobit is so easy to use that even beginners can use it and trade profitably. The platform is so intuitive, that I would have to say that it is almost fun to use.
Optionbit is the world’s second largest binary options broker and was established in 2010.They are EU regulated and as such do not accept US traders. Trading with a regulated broker is of course highly recommended. Optionbit does however accept traders from most other countries across the globe. The Algobit software was not developed by Optionbit and is in fact actually an extension of the Tradologic platform on which Optionbit is based. Optionbit is the only Tradologic broker who has dared to implement Algobit so far. Algobit can provide signals for both short term and long term trading. The interface is highly intuitive, allowing even beginners to trade successfully. It is totally web based so there is nothing to download. You can use it on any device you wish including smartphones and tablets. For an overview of the software and how it works you can watch the short video below:
Opening an Account with Optionbit
When you open an account with Optionbit you will be able to directly access the Algobit automatic signals platform. It is free to open an account with Optionbit but you will have to make at least the minimum deposit for trading which is $200, to activate the account. Optionbit offers up to 150% sign up bonus. This means that if you deposit $200, you will be able to trade with $500. However, if you accept the bonus then you will have to satisfy a trading volume of 15x the bonus before you can make a withdrawal. This is actually quite reasonable when you consider that many other brokers require 20x, 30x, 40x or more trading volume to clear the their bonuses. Once you have opened and funded the account you can request a binary options demo account so that you can practice trading with Algobit using virtual cash initially. This is the correct way to go, since you will only risk your real money once you have mastered using the signals.
You can place trades directly in the Algobit platform or in the Optionbit platform. You don’t have to have both platforms open. Algobit monitors forming trends and produces signals on a wide variety of assets. It assigns a numeric value to each individual signal which serves as an indicator of the likelihood of the signal ending up “In The Money”. Algobit provides you with the recommended asset and direction (Put or Call) but you need to decide on the amount to invest and the expiry timeframe to be used when placing the option.
Algobit can be adjusted to search for short or longterm trends and analyses wide variety of assets. The “sensitivity” can be adjusted for specific assets, causing more signals for the selected assets to be generated. Algobit will uncover trends in not just popularly traded assets such as currency pairs EUR/GBP,EUR/USD and USD/JPY but will provide signals in other asset types such as stocks and indices that are usually not focused on that much by less experienced traders. You may choose to further analyse the trends you identify with Algobit to reinforce your trading decisions by using charting solutions which can you can get for free such as Freestockcharts and Metadtrader4 or by opening a free demo account with eToro.
Whether you are a new or professional trader you will find Algobit an indispensable trading tool that will help you to uncover profitable opportunities that you may never have found on your own.