Brokers without limits suitable for bots?

babibabubabibabu Posts: 6
Hi,

It seems like most brokers do either not allow bots (e.g. HighLow, IQ Option) or limit the possible daily profit drastically (binary.com). Does anybody know a "serious" broker which allows bots, does not have (or relatively high) limits (profit nor turnover) and still offers returns > 80%?

If not, I would also just be interested which brokers you can recommend for bots.

Comments

  • OkaneOkane Posts: 1,279 admin
    Hey.
    No, I don't think any broker would allow it.
    The whole business model of Binary Options is having people trade them.
    I am sure you can sneak in a robot on this or that broker but if they find out the result is most certainly a ban.
  • babibabubabibabu Posts: 6
    Some (as binary.com) do allow it, but the limits seem to restrictive to me.

    I have read of successful people who got banned from brokers with the explanation that they are not allowed to use bots even though they didn't use bots at all. So yes, the risk of being banned is definitely there and as long as they have my money, I do not really want to experience this.
  • babibabubabibabu Posts: 6
    I have just learned about Nadex. Since it is a binary option exchange, I would be very surprised if they had a problem with bots or if they had any limits.

    @Okane, while searching the forum, I have seen that you mentioned Nadex a couple of times. Is there a reason why you did not mention it here? Just curious if there is a reason.
  • OkaneOkane Posts: 1,279 admin
    babibabu said:

    I have just learned about Nadex. Since it is a binary option exchange, I would be very surprised if they had a problem with bots or if they had any limits.

    @Okane, while searching the forum, I have seen that you mentioned Nadex a couple of times. Is there a reason why you did not mention it here? Just curious if there is a reason.

    I don't trade Nadex, @The_Geek_MH does, you can ask him.
    Hey @The_Geek_MH do you think he can run BO robots on Nadex?
  • The_Geek_MHThe_Geek_MH Posts: 642 mod
    nope.
  • ConsultantConsultant Posts: 5
    It is possible without having to go through the API and having to pay $500 just to access the data and then another $500 that can be deducted depending on the number of contracts you trade. I have 2 bots that can auto-trade on Nadex one of them is a hard coded strategy and the second bot works off of MT4 EA's with small adjustments in the mql file so it works as a bridge. I paid a nice chunk of money for both. The question is do you have a strategy to automate that is profitable?
  • The_Geek_MHThe_Geek_MH Posts: 642 mod
    can't be done, sorry, nope.
  • MalvridMalvrid Posts: 106
    I cannot help you with this question but I have a question, why do you need bot in trading binary options? I think that you are better trader from one algorithm, and it is proven that they cannot make profits on a long run, so why bother?
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