Ever since it was launched, IQoption has been a target for most binary option traders, because of its all-around superb offer. The broker features an incredibly small minimum on first deposits, and traders can invest as little as $1 on individual trades. The return rates are great too, as is the trading platform. It’s safe to say that IQption has nailed the winning formula from the very beginning. Learn more about how to create your own robot at IQOption and become part of that winning formula.
Quite possibly, the only area where the operation fell short, was the auto-trading arena. No third-party auto traders worked with IQoption and the broker wasn’t about to open up in this respect, given the scammy nature of this particular industry section. Solutions were sought and some partial ones were found, but then IQoption went ahead and blew everything out of the water with the launch of their Robots.IQoption.com platform.
What exactly is the Robots.IQoption platform though? We have seen reviews out there claiming it’s essentially a robot. Nothing could be further from the truth though. The IQoption Robots platform is a powerful online environment, dedicated to the creation of trading robots. It is nothing short of a potential game-changer, something that may forever alter the face of binary option trading industry. What’s more, IQoption’s Robots might change the way traders relate to the entire binary option equation in the future, too.
IQoption’s Robots platform is completely free. Everyone can just jump in and make use of the multitude of features it offers, without any strings attached. Also, it is available in English and in Russian, and it may see support added for more languages in the future.
Far from being aimed at experts alone, the Robots platform features a handy wizard, which essentially allows less knowledgeable traders to use a number of ready-made modules in the creation of their trading robots. The wizard also offers step-by-step guidance, making the process a walk in the park for everyone.
For those looking to create something from scratch though, there are two robot–constructors available: a simple one and one designed for the creation of more complex robots. While the latter of these does require sound technical analysis skills, no coding knowledge is necessary for either.
Another superb feature offered by the Robots platform is the historical back-testing one, which lets traders put their newly created robots to the test. This way, one can actually see if his/her robot does what it’s supposed to do and if it’s any good at all. It goes without saying that all robots should be put to the test this way, before they’re released into the real-money trading arena.
The IQRobots platform covers much more than trading signal generation though. Traders can set various conditions and strategies defining a series of parameters, based on which their robot will actually apply its trading signals. What’s more still is that capital-management can be handled by these robots too. Stop-losses can be set and management systems – such as the martingale – can be applied.
The best feature of the outfit though – one with perhaps the biggest impact on how trading will be done in the future – is the Robot Catalog, which allows the unbridled and unlimited sharing of the trading robots. That’s correct: if you know nothing about trading and robot-creation, you can still just grab one of the most popular or successful robots from the General List of Robots and put in your service. This feature has already revolutionized copy-trading at IQoption and it may achieve the same elsewhere too in the future.
Robots.IQoption.com offers you three paths towards the successful completion of our own trading robot.
This is perhaps the most versatile, useful and easy-to-use tool in the Robots.IQoption arsenal. It is the section where all the robots created by various users are automatically displayed. The Robot Catalog is therefore the starting point for every trader looking for easy, yet effective copy-trading. While every trading robot created on the platform shows up here, and while every trader can modify certain settings on these robots, only their creators can tinker with the actual algorithms used by the individual auto traders.
In the Catalog, robots are categorized according to profitability and popularity. Obviously, to a certain degree, the most profitable robots are the most popular as well. The maximum drawdown is yet another bit of information displayed in the robot listings, along with the name of the creator and the number of people who copied the system.
For those looking for robots with very specific capabilities, there’s a filter-system in place, which allows traders to select robots based on their real money trading performance over a specific period of time (last day, last week, last month). The traded asset is yet another selection criteria, as is the option-type through which the robots perform best. It has to be noted here that IQoption only feature two types of options: Turbo options – which expire at the 5-minute mark, and regular options, which feature longer expiry times.
Once one locates a proper robot and selects it, it will be automatically saved in the My Robots section, for later use. This section is where the management of one’s auto-traders happens. Here, detailed statics can be viewed on each selected robot, and robots can be removed from the lineup.
Robots should always be back-tested before they’re thrown into real money trading, whether or not one tinkers with their settings.
One step above the copy-trader is the guy looking to create his own trading robot. The wizard is the first stop for such traders. They way it all works is surprisingly simple and user-friendly. There are a number of ready-made strategies ripe for building into robots the way they are. Everything is based on technical analysis, so it isn’t exactly surprising that most of these strategy-blocks are chart pattern- and candlestick pattern based. We have modules like the Three Black Crowns and the Pinbar. Of course, one is not limited to these ready-made elements. The platform features an impressive number of technical indicators, all of which are fully capable of generating their own trading signals. Through the wizard, “AND” and “OR” operators can be used to combine these indicators. This way, rather complex trading bots can be built.
In addition to the actual signal-generating mechanism, filters can be built the same way, and applied on top of the “main engine”.
No trading robot would be complete without a capital-management module. In this respect, the platform offers several preset options. We have the martingale system already implemented, together with the fixed amount, the percentage balance and the reinvestment of profits method.
Robots created through the wizard should always be put through some back-testing as well.
The constructor takes the robot-building process to a deeper level. Here, the robot-building begins with the acquiring of tick and candlestick values. This raw data is then combined with indicators and filters in the above described manner.
The Robots platform offers video tutorials for the general use of the constructor as well as for the creation of very specific robots, based on indicators like the RSI, the MA and the Doji candle. At this stage, the building process becomes a lot more difficult, so these videos are indeed more than welcome.
Creating a profitable trading bot is obviously an accomplishment which is pretty much its own reward. Possessing such a trader is great, and knowing how to properly use it, is even better. What’s much better than all that though is the fact that IQoption’s robot creators can actually pit their robots against the creations of their peers, in a fair, real-money test of valor. The cherry on top of the cake is that the winners of these robot trading tournaments take home real-money prizes.
In order to gain eligibility for the trading tournaments, one has to have his/her robot make at least 20 real money trades within the period specified in the tournament terms. There will be two competitive categories: one in which the winners are decided based on their raw profit amounts, and another, in which efficiency is the deciding factor.
In the last such contest, the winners of both categories received $2,000 prizes, while the second place finishers were rewarded with $1,000. Third place was worth $500.
Some people will inevitably wonder whether IQoption’s new Robots are scams or not. If you’ve read all the above though, you know that question doesn’t make any sense. Winner or loser, the IQoption robot is a perfect reflection of its creator’s skills as well as a testimony to the power of the Robots.IQoption.com platform.