Why a Deriv robot is probably a scam for your money

Automated trading is a type of financial trading in which you use a trading robot to make and execute trading decisions. Algorithmic trading includes automated trading systems (ATS) that generate and execute trade orders. Your trade orders are determined by technical analysis using computer software and the established parameters.

› Sign up for free with Deriv now!

(RIsk warning: Your capital can be at risk)

What is the mechanism behind trading robots?

How a binary options trading robot works
How a binary options trading robot works

A trading robot communicates through an application program interface (API) with an internet trading platform. This API operates as a middleman, taking your requests, directing them to the trading robot, and returning the results to you.

When you enable the binary options trading robot, it will enter, track automatically, and exit transactions according to the rules you have defined. You don’t need to know how to code to use some trading robots. Deriv’s DBot is an excellent example.

The DBot trade platform includes a configurable drag-and-drop robot builder. Simply match the binary options trading indicators and blocks to your trading strategy. You can utilize simple formulas to get started, but you can even design complex algorithms. The trading robot you create handles all of the trading for you. Thus you don’t have to sit at your computer all day.

› Sign up for free with Deriv now!

(RIsk warning: Your capital can be at risk)

Why are trading robots used?

Automated binary options trading robot

#1 Your bot, your rules

The trading bots remove the need to monitor the market constantly. It will monitor the markets for you throughout the day, allowing you to take advantage of any trade opportunity. It implies you won’t be physically bound to your trading terminal. You specify the rules, and the trading robot implements them, allowing you to manage the trades more efficiently.

#2 Emotionless trading

The trading involves both money and emotions. Fear and greed impact many traders’ trading decisions. Fear of losing money might cause traders to hesitate before taking a deal, resulting in missed chances. Similarly, excessive eagerness for higher gains may push a trader to maintain a position for far too long or make risky judgments, resulting in financial losses.

Trading without emotion is possible with a trading robot. It will make decisions without hesitation because it is based on your predefined commands.

#3 24-hour trading

Trading robots do not sleep, allowing you to trade at any time from any location. It doesn’t necessitate constant surveillance, so you can keep track of market changes even when you’re not home. It’s simply entering your desired parameters and allowing the trading robot to handle the rest.

Binary options trading robot generating profits

#4 Trading discipline

Great traders are defined by their discipline and patience. They are continually improving their techniques and making judgments depending on their information.

You can review your trading history using a trading robot and use what you’ve learned for future deals. Most trading robots, such as DBot, allow you to practice in a demo environment so you may learn the ropes and establish a trading strategy that works for you. The more you trade, the more disciplined you’ll gain. You can use the DBot with your Deriv demo account.

#5 Trade types on Dbot

Depending on the asset, DBot offers a variety of options, trading agreements, and multipliers. It’s vital to remember that none of the contracts require you to acquire an underlying asset on Deriv; all you have to do is anticipate how the asset’s price will change. 

› Sign up for free with Deriv now!

(RIsk warning: Your capital can be at risk)

How Dbot operates

The Deriv DBot

Once you’ve chosen an asset, a market, and a trade type, your trading bot is ready to go, as all other settings have already been configured. Your stake quantity and trade duration are two examples. Check these before you start your bot. If the default values are satisfactory, simply press the green ‘Run’ button on the upper right corner of your screen. 

Once your basic approach is complete, you may further explore additional options and customize your trading bot. The more intricate your plan develops with DBot, the more blocks you will need to employ. All extra blocks arranged under 2 tabs located on the left side of the screen are the ‘Utility’ tab, which gives you access to additional parameter blocks. The ‘Analysis’ tab gives you blocks to enable the technical performance analysis on DBot.

Dbot has some useful features

The Reset button on the Deriv DBot

1. On the right side of the screen, you may see the specifics of your trade next to the ‘Transaction’ and ‘Journal’ tabs. Press the ‘Reset’ button to erase all previous transactions and notifications if you need a fresh start.

2. Click the ‘Chart’ option in the lower-left corner of the screen to display a window containing real-time price changes of an asset you’ve chosen.

3. The menu panel provides quick access to ready-made trading methods in the top left corner of the screen. It also allows you to import, reset, or save your working strategy and undo the last action.

› Sign up for free with Deriv now!

(RIsk warning: Your capital can be at risk)

Why a Deriv bot is probably a scam for your money

Losses on the Deriv DBot

Technical analysis, which entails reading previous market figures and price charts to forecast future events, is a skill that Forex robots excel at. When it relates to fundamental analysis, however, they are less useful.

Fundamental analysis determines the asset value by considering external factors such as economic and political events and industry trends. While a person can keep up with what’s going on in the world and how it affects the markets, a rapid market reversal due to a sudden dramatic occurrence could significantly limit a robot’s ability to trade profitably.

Due to the rapid growth of online trading, it is advantageous to create bogus websites that appear to be actual brokerage businesses. If you wish to trade on Deriv and use the platform, you should be aware of a few investment scams that are more widespread than others.

Binary Options scam warning

Many people work online, while others work by phone. The trader starts an internet search that returns many results in many circumstances. There could be up to ten fraudulent websites pretending to be legitimate for every genuine firm. Most of them are sites that have been built to resemble brokers, complete with terminology, images, client reviews, and social network profiles. The con artists will convince you to join a trading platform and then make a minimum deposit of $250, but they will simply take your money and leave.

Scam robots exist, but they don’t work. To establish whether a service is real or not, look for any red flags. These issues include a lack of support contact information, low evaluations, short lead times, and limited asset access. The software analyzes market data using advanced mathematical algorithms.

Conclusion – Using a robot can bring benefits but be careful

The official logo of Deriv

Some unsuspecting investors may not always be able to spot frauds on the internet, and when they do, they may lose a lot of money. They may have already accomplished a great deal before noticing that something was wrong. There are several safeguards to avoid this, although we recommend some tips and methods to ensure that you sign up for reliable binary options robot software. Using a robot can bring benefits but we recommend not risking all your money and focusing on your own analysis instead.

About the author

Percival Knight
Percival Knight is an experienced Binary Options trader for more than ten years. Mainly, he trades 60-second trades at a very high hit rate. My favorite strategies is by using candlesticks and fake-breakouts

Write a comment