An automated trading tool is perhaps one of the most sought-after tools in trading. It can just be the difference between a consecutive win or loss. Many rookie traders prefer a reliable automated trading tool to enhance their trading game. The most commonly available tool for automated trading is nothing but a trading robot like the Expert Option robot.
You must have heard about its benefits and features if you have been trading for a while. A trading robot is a software assistant that guides and supports your trades. You can gain a significant advantage and trading speed with a reliable trading bot.
However, the automated feature comes with its perks and cons. As a result, not many brokers offer their robots. But, you can find various trading robots available on the internet even under such a broker’s name.
Therefore, you must be wary of downloading a trading robot and verify whether it’s official or not.
If you are an Expert Option trader looking for a trading robot, we will clear all the doubts here.
(Risk warning: Your capital can be at risk)
Does Expert Option offer a trading robot?
Expert Option is a broker that offers premium services to its clients. You can avail of its services through its website or its trading app. The trading app comes in the list of top-3 most downloaded financial apps on the Android app store. So we can emulate how popular the Expert Option must be in the trading fraternity.
You can find many lucrative features through its platform. It even offers a highly rewarding affiliate program. However, it does not offer an official trading robot among its various features.
Expert Option promotes trading by the traders themselves. So, it refrains from offering an automated trading robot.
However, that does not imply that finding any trading robot under its name is impossible. Due to this broker’s increased popularity, various independent developers have created ExpertBot. It is available over the internet for free of charge use, and anyone can download it.
Expert Option bot review
The ExpertBot claims to be a useful trading robot. It claims to provide automated trading to Expert Option traders exclusively.
It uses a pre-built algorithm to provide you with a computerized trading experience. The development of its algorithm is so that it analyses the market and produces a bid accuracy of 73%. The ExpertBot already has more than 1200 active users, and you can download it for free. It is available on Google Chrome without any complicated steps to follow. You can download this trading robot and use it right away.
The ExpertBot claims to have a very low setup time. You can set it up within 5-6 minutes. Moreover, it claims to offer you an in-depth analysis of more than 20 technical indicators.
You can choose from various strategies and use them in your trading. Also, it provides active customer support and detailed instructions for better usage.
The adaptability of this robot is presumably attractive as it claims to run on most devices. It is also available for both Google Chrome and Opera Browsers. We can expect it to be compatible with an Expert Option account and can help significantly in reducing immature trading moves.
However, a new trader must be careful that it is not an official trading robot. It is a creation by a team of developers independently. So we can say that it does not affiliate with Expert Option.
(Risk warning: Your capital can be at risk)
Why is the ExpertBot probably a scam?
Expert Option does not promote automated trading. As a result, it does not offer a trading robot officially.
If you want to confirm this, you can easily visit their website and begin a chat with the chatbot there. An official Expert Option support member shall confirm the same. With Expert Option, you have to trade on your own ideally. Moreover, automated algorithmic software cannot always replace the trader’s instinct.
Since there is no official trading robot from the broker’s side, any trading robot claiming under its name is not genuine. It can be fraudulent software with malicious coding. If you use such an unverified trading robot with your account, you can get scammed and lose all your funds. It could also be spyware that leaks out your trading information. So that makes an unofficial robot like the ExpertBot a risky bait.
This trading robot is a creation by certain unknown developers. That makes its legal validity vague as well. Any fraud or malpractice through such a trading tool will not make Expert Option liable under the law.
So, if you download it, you are acting on your own. Also, any unofficial software that claims to be part of a reputed trading brand is no less than a scam.
(Risk warning: Your capital can be at risk)
What is the significance of an official trading robot?
Trading robots have drawn significant attention in recent years. The main reason is their ability to increase the accuracy of the traders quickly. If you have an official trading robot, you do not have to worry about any fraud as its secured by the broker itself.
A trading robot operates on a structured algorithm to enhance market prediction. It can purposefully serve to decide where the price of an asset shall be in the next moment. It is usually synched with the broker’s platform and supports the trading moves continuously.
It can significantly generate reliable signals that can help traders predict accurately. However, the most significant aspect of a trading robot is eliminating emotional trading.
Psychological and emotional distress are two of the most common reasons traders fail to judge the market correctly. So, if you are suffering in your trades due to your psychological interference, it can be immensely helpful.
Most of the trading robots we can find are built with the MetaTrader platform. They also utilize MQL as their scripting language. As a combined result of both these features, they enable a trader to generate trading signals. With the help of those signals, managing and placing orders become simplified.
(Risk warning: Your capital can be at risk)
Conclusion: Expert Option robot
Expert Option is a broker that does not offer its client an official trading robot. However, we can find trading robots under their name over the internet. They are available free of cost and require you just to download them. Their features may be compatible with the Expert Option account, and you may benefit from their use.
However, using an unverified and unofficial trading robot could lead you to a scam. Therefore, it is always wise to develop your skills and trade independently.
(Risk warning: Your capital can be at risk)