Binary options for a long time occupied a special place in trading at financial markets. In our reviews, we often mention Robots that trade instead of traders.
In this review, we will talk about SimpleAutoTrading, software that enables broker implementation and generating standalone signals. What’s interesting about SimpleAutoTrading is the individual registration process for each trader and ability to create your own trading style with different features and tools.
SimpleAutoTrading claims to be uncomplicated, free and fun for trading and that’s all that the traders are looking for.
To use SimpleAutoTrading software, the first thing to do is register. Registration is completely free and traders can do it at any time. In order for the registration process to be correct, traders must complete the registration form in the following way: simply enter your first and last name, email, password and mobile phone. After you accept Terms & Conditions, click on Sign Up button and account are created.
SimpleAutoTrading will also suggest you a list of brokers that are available in your country so it is easier for you to decide with what broker to make a deposit and start trading.
The most common difficulties faced by traders are to choose a broker who meets their requirements and who will most easily make the communication and use of all the benefits and tools. However, with SimpleAutoTrading this process is minimized to the extent that you just have to click on the offered broker.
The minimum deposit is $ 250 to use this software, however, SimpleAutoTrading proposes a larger deposit to better meet the prerequisites for quality and successful trading.
SimpleAutoTrading software is divided into three main trading systems:
- Classic System – This system is most commonly used by beginners, and the system will never do a deviation with the amount you set. In any situation, traders are able to raise or lower trading volume. Also, this system is presented on the site as the safest and the first choice of most traders.
- Martingale System – The ability to set up this system enables traders to have a faster trading method. Though many traders use it, we must point out that it also carries more risks.
- Fibonacci System – This system is how SimpleAutotrading says, accurate and relies on the precision of numbers that enable better quality trades. It is also said to work best with currency pairs.
Every trader has to research these trading styles and find one that suits them most.
Each of the above-mentioned trading systems is based on algorithm-related indicators that give us different information and enable trade.
In this part of the review we will explain the impressive list of indicators used on SimpleAutoTrading software which traders can implement in trading system;
TREND Indicator – The Trend Indicator finds the average price of a particular asset. If the current price of a certain asset exceeds the average, it means the asset is in an uptrend. However, if the price is lower than the average, it means the asset is in down trend. Many traders use this indicator as a connection to another indicator to create a link and match assets.
MACD Indicator – Moving Average Convergence Divergence indicator is supposed to reveal changes in strength, direction, momentum, and duration of a trend. It is a sophisticated indicator that uses two moving averages. Most traders use it in conjunction with another indicator.
RSI Indicator – RSI stands for Relative Strength Index. According to the SimpleAutoTrading, this is the most popular indicator among binary option professional traders. RSI oscillates between zero and 100. This indicator measures the speed and change of the prices at the market. Usually, everything above 70 is overbought and everything below 30 is oversold.
CCI Indicator – The Commodity Channel Index is as the name says, the indicator for commodity trading. It is also tested on other assets too and therefore, SimpleAutoTrading decided to implement it as well. This indicator compares prices with the moving average on the market.
Williams Indicator – The Williams Indicator measures overbought and oversold prices. It is similar to the next, Stoch Indicator but uses different calculation methods.
Sotch Indicator – or Stochastic Indicator is developed in late 50’s and it is recognized as a measure of asset momentum. The main difference between Williams Indicator and Stoch Indicator is that Williams Indicator uses momentum on highs while Stoch Indicator uses a scale for lows. Traders are using them to eliminate poor signals.
Although this software came into the market in 2017, we can not find any objections or something that does not keep it in line with other binary options trading software.
SimpleAutoTrading software also has a demo account. This will help all traders to test all the features, tools, and capabilities that the software provides for a certain period of time. Traders who choose to try out the demo account will get $ 1,000 of virtual money to test how the software works. Demo accounts are always welcome to all traders because in this way, without any risk, they can experience trading on the platform.
Once the traders register and log in to their account, they will get access to a dashboard and be able to see an overview and entire trading process.
On the main screen, it is possible to see different categories such as Brokers, Settings, and Support. In the middle of the trading platform is the auto trading button that activates the trading process. Also, you can find all details about your account and settings panel where you can change some info.
On the right side of the screen, traders are able to see current and recent trades. That gives relaxation and insight on what have you done in the past and which trades are currently in the process.
Traders are usually advised to watch their progress because this way they can fix their mistakes and achieve desirable winning ratio.
Unfortunately, SimpleAutoTrading has no customer support in terms of live chat. However, at any time you can contact their agents who will respond as soon as possible. The customer support email is email@example.com.
Also, on SimpleAutoTrading website traders can find a note in which it was said that because of the increased number of emails, read the FAQ first, where most of the questions are easily and comprehensively explained.
We hope that in the future, this platform will also implement live chat to facilitate communication with its users.