IQOption Robot is now closed.
*IQ Robots project has been closed. Integrity and respect for our users remain the key values for IQ Option.
General risk warning
The financial services provided by this website carry a high level of risk and can result in the loss of all of your funds. You should never invest money that you cannot afford to lose.
IQOption Robot Before it Closed
Ever since it was launched, IQ Option has been a target for most binary options traders, because of its all-around superb offer. This broker features an incredibly small minimum on first deposits, and traders can invest as little as $1 on individual trades. The return rates of IQ Option are high too, same as IQ Robots platform once offered.
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 IQ Option went ahead and blew everything out of the water with the launch of their IQ Robots.
Building Your Own Auto Trader at IQ Option?
We have seen reviews out there claiming it’s essentially a robot. Nothing could be further from the truth though. The IQoption Robots platform was a powerful online environment, dedicated to the creation of trading robots. It was nothing short of a potential game-changer, something that may forever alter the face of binary option trading industry. What’s more, IQoption Robots was able to change the way traders relate to the entire binary option equation in the future, too.
What Has IQoption Robots Platform delivered Features-wise?
IQ Option’s Robots platform was completely free. Everyone could just jump in and make use of the multitude of features it offers, without any strings attached. Also, it was available in English and in Russian, as well as several other languages.
Far from being aimed at experts alone, the Robots platform featured a handy wizard, which essentially allowed inexperienced traders to use a number of ready-made modules in the creation of their trading robots. The wizard also offered step-by-step guidance.e.
For those looking to create something from scratch though, there were 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 was the historical back-testing one, which allowed traders to put their newly created robots to the test. This way, one was able to actually see what this robot does, what it was supposed to do and if it was 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 IQ Robots platform covered much more than a trading signal generation. Traders could adjust various conditions and trading styles defining a series of parameters, based on which their robot will actually apply its trading signals. What’s more still is that capital-management could be handled by these robots too. Stop-losses could be set and management systems – such as the martingale patterns*, that was also a part of IQ Robot platform.
The best feature of IQ Robot and one with perhaps the biggest impact on how trading was scheduled to be done in the future – a Robot Catalog, which allowed the unbridled and unlimited sharing of the trading robots. That’s correct: if you know nothing about trading and robot creation, you could 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 IQ Option and it may achieve the same elsewhere too in the future.
*“Amount to be credited to account for a successful trade.”
How Was it Able to Create Your Own Robot at IQ Option?
IQ Robots offered traders around the world three paths towards the successful completion of our own trading robot.
- You were able to use the Robot Catalog to grab someone else’s auto trader and to apply your own settings to it.
- Use the Robots wizard to put together your robot from a number of ready-made building blocks.
- Use the Robots constructor to build your trade from scratch.
The Robot Catalog
This was perhaps the most versatile, useful tool in the Robots; IQoption arsenal. It was the section where all the robots created by various users were automatically displayed.
The Robot Catalog was, therefore, the starting point for every trader looking for smooth, yet effective copy-trading. While every trading robot created on the platform shows up here, and while every trader was able to modify certain settings on these robots, only their creators could tinker with the actual algorithms used by the individual auto traders.
In the Catalog, robots were categorized according to its potential earnings and popularity. Obviously, to a certain degree, the most lucrative robots were very popular. The maximum drawdown was 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 was a filter-system in place, which allowed 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 was yet another selection criteria, as is the option-type through which the robots perform best. It has to be noted here that IQ Option only featured two types of options: Turbo options – which expire at the 5-minute mark, and regular options, which feature longer expiry times.
Once a trader has located and selected a proper robot, it will be automatically saved in the My Robots section, for later use. This section was where the management of one’s auto-traders happens. Here, detailed statics could 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.
The Robot Wizard
One step above the copy-trader was the person looking to create his own trading robot. The wizard was the first stop for such traders. They way it all works is surprisingly simple and user-friendly. There were a number of ready-made patterns ready for building into robots the way they are.
Everything was based on technical analysis, so it wasn’t exactly surprising that most of these trading style-blocks were chart pattern* – and candlestick pattern based, such as 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 were fully capable of generating their own trading signals.
Through the wizard, “AND” and “OR” operators could be used to combine these indicators. This way, rather complex trading bots could be built. In addition to the actual signal-generating mechanism, filters could be built the same way, and applied on top of the “main engine”.
No trading robot could be completed without a capital-management module. In this respect, the platform offered several preset options, such as martingale system which has already been implemented, together with the fixed amount and percentage balance.
*“Amount to be credited to account for a successful trade.”
The Robot Constructor
The constructor took the robot-building process to a deeper level. Here, the robot-building began with the acquiring of tick and candlestick values. This raw data is then combined with indicators and filters in an above-described manner.
The Robots platform offered 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 became a lot more difficult, so these videos are indeed more than welcome.
The Robot Wars
Creating an innovative trading bot was obviously an accomplishment which is pretty much its own reward. What’s much better than all that though is the fact that IQ Option’s robot creators could actually pit their robots against the creations of their peers, in a fair, real-money test of valor. Some people wondered whether IQ Option’s new Robots were scams or not. If traders have red all the above though, you know that question doesn’t make any sense.
Risk Disclaimer: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.