Trader’s Buddy is a completely new binary options product that aims to connect the binary traders with various brokers and to put a fresh, new spin on binary options trading. It was launched in 2017 and it is one of the newest binary options product available.
In this review, we will go over some of the most important characteristics of Trader’s Buddy and explain their uses and functions. It is certainly very important to be informed about a product you are planning to use, regardless of the industry it is found in. This is even more important in a financial industry as there can be serious repercussions if you are not educated enough about a specific product of your choice.
What is perhaps the most interesting thing about Trader’s Buddy is the fact that it features several modes of trading, which is a very refreshing innovation in binary options trading. We will be taking a closer look into those modes in the next sections of this review.
There are certainly a lot of variables when it comes to deciding what kind of a binary product someone will choose for themselves, so much so that it can be extremely difficult to try to unify those elements into a single product. However, it seems that Trader’s Buddy has come very close to that construct as the company has realized that binary options traders value versatility the most.
According to the website, Trader’s Buddy enables traders to use different modes of trading, depending on their personal choices and the design of their investment plan; semi-automatic trading or social trading.
The first mode, the semi-automatic, is the result of the recognition of the need for traders to be actively involved in making and executing decisions regarding their investment options. This mode offers the ability to receive binary signals which prompt to the found trading opportunity.
After the signal is received, you can manually approve or decline the trade directly on your trading dashboard. This means that Trader’s Buddy will not be placing any trades without your knowledge which leaves the control solely in your own hands. This option is very suited for traders who appreciate their autonomy and individual decision making in the process.
Social Trading, as they suggest, focuses on reaping the expertise and knowledge of the existing trading community which can be of enormous help. Trader’s Buddy takes into account current social trends that deal with binary options and sends you the collected and analyzed information. You are then in the position to make an informed decision.
When opening an account with Trader’s Buddy you will realize how efficient and quick it is. There are no frills or complications involved. You simply need to fill out the registration form with a few basic details and submit it.
Even though registering with Trader’s Buddy is not challenging, there is always a possibility that the process is not going smoothly. In this case, make sure you contact the customer support via the provided means and they will help you get back on the right track.
Seeing that Trader’s Buddy is a completely web-based product, traders are happy when they realize that they won’t have to download any programs, plugins or add-ons. You are free to use it on any device that can be connected to the internet and support a common browser. Just access the platform through the browser, log in and you are all set.
Trader’s Buddy – A Single Versatile Account
What makes Trader’s Buddy Account so versatile you might ask? Well, you only need one account to trade with as many brokers as you wish. To further illustrate this point, it important to remind the traders that most other products do not offer this options, even when it is so clear that a huge number of traders wish to use different strategies with different brokers. According to the website, now it is all accessible from a single Trader’s Buddy account.
This also means that there is no switching from one trading interface to another, but that you can do all your binary options trading from one trading dashboard on one window. This is excellent news for those traders who do not feel comfortable opening and managing various accounts but want a centralized platform.
All the available brokers are neatly organized on the very top of the platform, which is very convenient and goes hand in hand with the rest of the organizational structure of this binary options product.
This trading software has more innovations in store, not just the ones we already mentioned. According to the website itself, it is equipped with three trading algorithms that generate binary signals. Choosing which one to use is a personal decision based on your own preferences and investment plans.
Rush Options Algorithm – focuses on short term options that can be traded for up to 120 seconds. This is a fast paced algorithm and best suited for very adventurous traders.
Basers Algorithm – designed to focus on medium length options, specifically those that have 4 hours expiry rates. This is also a medium risk trading strategy, according to the website.
Investo Algorithm – this is a great choice for more traditional traders that likes to trade for the long run. Signals that are generated from this algorithm go up to three days.
Automatic Stop Loss
Automatic Stop Loss is a feature that allows traders to remain in complete control over their investment portfolio. You are able to control your limits and daily risks. This goes hand in hand with the more traditional approach to binary options trading, but it also indicates a focused and detail oriented trader that likes to be autonomous in their decision making.
Trader’s Buddy offers a great range of helpful content in their Education Center that is available even before the registration. One of the pillars of binary options trading is the need for constant education and knowledge acquiring. Education Center is filled with great tutorials and content that will definitely be of huge help on your trading journey, regardless of your level of expertise.
Another thing that Trader’s Buddy has prepared for their traders, and cannot be found anywhere else is the Pending Orders feature.
The website claims that this feature enables traders to place trades that are not tradable with your broker at the moment you want to place them. What this means, is that you can now take advantage of market fluctuations with this innovative feature.
It is important to highlight that this type of a feature cannot be found on any other binary product, which indicates a high level of proficiency and innovation while developing such a product. That is something binary options traders are always drawn to.
Trader’s Buddy support teams are available for questions 24/7. This means that they have gone to great lengths to provide you with a service that is available to you whenever you might need it. From platform navigation to account opening, their knowledgeable team will be able to help you swiftly and professionally.
Customer Support can be contacted via Contact Form that can be found on the website, Live Chat placed on the bottom left part of the website and an Email.