Best IQ Option Bot?

I've been using IQ Options for a while now, and I just got into testing their user-created bots. It seems like a genius idea from such a reputable platform. There's a problem with them though (or maybe with me): I can't seem to find any that produce more than 50% profitable deals in the long run. And I have tested dozens of them coming from the "most profitable" list.

Sure, there are ways of increasing profits with management strategies (all use martingale), but they're just not that good in the long run and with less money in the account. Those $1k draws scare the crap out of me. What's more, I'll create a bot with one of the strategies I successfully employ on my own as a robot, and I can't get the profitable trades above 50% using the "historical data" tests.

I have one bot that I set up on a practice account, and has successfully earned me $10k (fake money) using only $1 bets in a week, but I added up the wins, losses and ties, and it's only making about 49% + martingale. Why not just flip a coin?

Has anyone seen a bot that can get better than a 50% success rate and/or profits without using martingale?

Comments

  • OkaneOkane Posts: 1,048 admin
    costmo said:

    I've been using IQ Options for a while now, and I just got into testing their user-created bots. It seems like a genius idea from such a reputable platform. There's a problem with them though (or maybe with me): I can't seem to find any that produce more than 50% profitable deals in the long run. And I have tested dozens of them coming from the "most profitable" list.

    Sure, there are ways of increasing profits with management strategies (all use martingale), but they're just not that good in the long run and with less money in the account. Those $1k draws scare the crap out of me. What's more, I'll create a bot with one of the strategies I successfully employ on my own as a robot, and I can't get the profitable trades above 50% using the "historical data" tests.

    I have one bot that I set up on a practice account, and has successfully earned me $10k (fake money) using only $1 bets in a week, but I added up the wins, losses and ties, and it's only making about 49% + martingale. Why not just flip a coin?

    Has anyone seen a bot that can get better than a 50% success rate and/or profits without using martingale?

    Robots can't get good results period. If anyone ever had one they could sell it to a bank make billions and don't waste time
    in forums trying to convince noobs how great their robot is. lol
  • costmocostmo Posts: 2
    edited October 2016
    I wouldn't normally touch a bot, but these are user-generated (and weren't sold to me), and I can create one based on my own strategy (that I already know works). Seemed great, but even my own strategy plugged into a bot can't get better than a 50% win rate vs historical data. I'm just not sure what the difference is. I guess, the human touch, idk.
  • markbaxtermarkbaxter Posts: 45
    Stay away from bots and start reading tutorials...
  • It's always better to trade as you , no robot will ever do your job, remember that
  • reaperreaper Posts: 60
    Just a beginner here, but I really do not understand how you can rely on bots or any other machines. I mean, come on, if that was so simple, everyone would have been rich by now, don't they?
  • ClosingbellClosingbell Posts: 71
    reaper said:

    Just a beginner here, but I really do not understand how you can rely on bots or any other machines. I mean, come on, if that was so simple, everyone would have been rich by now, don't they?

    Agree

    costmo said:

    I've been using IQ Options for a while now, and I just got into testing their user-created bots. It seems like a genius idea from such a reputable platform. There's a problem with them though (or maybe with me): I can't seem to find any that produce more than 50% profitable deals in the long run. And I have tested dozens of them coming from the "most profitable" list.

    Sure, there are ways of increasing profits with management strategies (all use martingale), but they're just not that good in the long run and with less money in the account. Those $1k draws scare the crap out of me. What's more, I'll create a bot with one of the strategies I successfully employ on my own as a robot, and I can't get the profitable trades above 50% using the "historical data" tests.

    I have one bot that I set up on a practice account, and has successfully earned me $10k (fake money) using only $1 bets in a week, but I added up the wins, losses and ties, and it's only making about 49% + martingale. Why not just flip a coin?

    Has anyone seen a bot that can get better than a 50% success rate and/or profits without using martingale?

    Try building your own robot on the IQ platform, but I just had a conversation with my dedicated VIP account manager this week about their shitty robot platform. I have a Private Investment Company, we trade with FX and Equity options and as we are really into Binary options for a while now we wanted to automate some of our strategies that we know, work. As their robot platform is drag and drop, its sucks. I would prefer to code a strategy myself. I even tried to recreate a strategy we use for a long time which has a 70% ITM ratio, the IQ Bot platform showed significant losses, while I have real data to back up very very decent profits.
  • OkaneOkane Posts: 1,048 admin
    You are right Reaper and Closingbell - autotraders won't work.

    People just need to pull their heads out of their behinds and realize there is nothing in it for a broker (any broker ever) to provide you with an automated and working autotrader. If they would, then they might as well say: here take all our money no need to trade at all and then would have to close shop. Besides, I can tell you with 99% certainty you are not gonna be able to code a working autotrader. Good luck wasting your times on autotraders! Backtesting and demo is far different from reality. In Forex, an autotrader might have (just slightly) better outcome due to lack of expiry selection but on Binaries, forget it. I have known so many people going down that road only to give up.
  • ClosingbellClosingbell Posts: 71
    Okane said:

    You are right Reaper and Closingbell - autotraders won't work.

    People just need to pull their heads out of their behinds and realize there is nothing in it for a broker (any broker ever) to provide you with an automated and working autotrader. If they would, then they might as well say: here take all our money no need to trade at all and then would have to close shop. Besides, I can tell you with 99% certainty you are not gonna be able to code a working autotrader. Good luck wasting your times on autotraders! Backtesting and demo is far different from reality. In Forex, an autotrader might have (just slightly) better outcome due to lack of expiry selection but on Binaries, forget it. I have known so many people going down that road only to give up.

    Hi Okane. Partially disagree. Its could be beneficial for brokers to provide autotrade functionality which guarantees constant trading volume on their platform. Brokers earn money based on trading volume. This is why some brokers and their affiliates build robots that just generating volume not profit.
  • OkaneOkane Posts: 1,048 admin

    Okane said:

    You are right Reaper and Closingbell - autotraders won't work.

    People just need to pull their heads out of their behinds and realize there is nothing in it for a broker (any broker ever) to provide you with an automated and working autotrader. If they would, then they might as well say: here take all our money no need to trade at all and then would have to close shop. Besides, I can tell you with 99% certainty you are not gonna be able to code a working autotrader. Good luck wasting your times on autotraders! Backtesting and demo is far different from reality. In Forex, an autotrader might have (just slightly) better outcome due to lack of expiry selection but on Binaries, forget it. I have known so many people going down that road only to give up.

    Hi Okane. Partially disagree. Its could be beneficial for brokers to provide autotrade functionality which guarantees constant trading volume on their platform. Brokers earn money based on trading volume. This is why some brokers and their affiliates build robots that just generating volume not profit.
    Nope...
    I didn't say it was bad for them to provide robots, I said it is bad for them to provide winning/working robots.
    That whole "we make money on volume" is not entirely true. The money is made through losses which means
    the more you trade the more you are likely to lose and FASTER if you are not a trader.
    But again, I didn't say it's bad to provide a robot, I said it's shooting yourself in the foot as a broker to provide
    a WORKING one = meaning something that makes people money.
  • ClosingbellClosingbell Posts: 71
    Okane said:

    Okane said:

    You are right Reaper and Closingbell - autotraders won't work.

    People just need to pull their heads out of their behinds and realize there is nothing in it for a broker (any broker ever) to provide you with an automated and working autotrader. If they would, then they might as well say: here take all our money no need to trade at all and then would have to close shop. Besides, I can tell you with 99% certainty you are not gonna be able to code a working autotrader. Good luck wasting your times on autotraders! Backtesting and demo is far different from reality. In Forex, an autotrader might have (just slightly) better outcome due to lack of expiry selection but on Binaries, forget it. I have known so many people going down that road only to give up.

    Hi Okane. Partially disagree. Its could be beneficial for brokers to provide autotrade functionality which guarantees constant trading volume on their platform. Brokers earn money based on trading volume. This is why some brokers and their affiliates build robots that just generating volume not profit.
    Nope...
    I didn't say it was bad for them to provide robots, I said it is bad for them to provide winning/working robots.
    That whole "we make money on volume" is not entirely true. The money is made through losses which means
    the more you trade the more you are likely to lose and FASTER if you are not a trader.
    But again, I didn't say it's bad to provide a robot, I said it's shooting yourself in the foot as a broker to provide
    a WORKING one = meaning something that makes people money.
    I hear you. I think your above statement is still not fully true for all brokers. Im not arguing with you on this, but only reckless brokers speculate on you to lose money fast so they can keep your deposit. Its simple business. Which user is better for a broker who 1) generates a monthly tunover of €20K-€40K (very doable and you dont need to deposit more than €1000-2000 to achieve this turnover) 2) or Mr Newbie who deposits once €250 and never puts any money in ever again after he lost everything on a 60sec option?

    A brokers who make money on turnover like IQoption for example makes 7.5% on turnover. If your account turnover is €10K a month, they make €750 on you every month. Also a broker that only speculates on you just to lose your deposit, they take a huge risk, as they dont hedge or reduce their exposure by seeking liquidity from market makers. This is the main reason some no name brokers go out of business.

    This is the model that all brokers should follow (if they wanna stay in business long term) :


  • OkaneOkane Posts: 1,048 admin
    Yes of course but that's another discussion as you say.
    I wasn't arguing whether the model was not good or bad so you are correct that
    brokers who need to stay in business long term need to focus on the long term volume and to keep
    the customers happy and pay out without hassle instead of trying to make you lose your first deposit. Like 24Option for example and that's
    why I like them.
    But again, the brokers make money on your losses and people should always remember that and therefore, never listen to account managers, don't use broker signals, don't use autotraders and do their own studies - good or bad broker. The "we make money on your volume" is just a better business model but in the end, their money comes from our pockets = from losses and that's just a way to sugarcoat it.
  • Can I use a robot? Is it legal?
  • The_Geek_MHThe_Geek_MH Posts: 488 mod
    legal for you to use but fast becoming illegal for unlicensed brokers and anyone else to offer.
  • markbaxtermarkbaxter Posts: 45
    edited December 2017

    Can I use a robot? Is it legal?

    Yes it is legal to use robots, but be careful because this robots are usually designed by unlicensed brokers! And do not forget that the robots does not work at all..
  • TraderBO999TraderBO999 Posts: 2
    edited December 2017
    Look on MT2IQ bot. It can place trades directly on your IQ Option account from MetaTrader. Very easy to use. I am using it with my arrow indicator automatically.
  • maqa6757maqa6757 Posts: 1

    Look on MT2IQ bot. It can place trades directly on your IQ Option account from MetaTrader. Very easy to use. I am using it with my arrow indicator automatically.

    bro you can send me mt2iq bot?
  • OkaneOkane Posts: 1,048 admin
    maqa6757 said:

    Look on MT2IQ bot. It can place trades directly on your IQ Option account from MetaTrader. Very easy to use. I am using it with my arrow indicator automatically.

    bro you can send me mt2iq bot?
    Just Google it and use their official website to download. It's always safer than having random people online you don't know sending you files. It can hide viruses even without them knowing. So use the official website instead.
  • YolandiWatsonYolandiWatson Posts: 12
    IQ Robots project has been closed down due to the technical imbalance. Integrity and respect for the users remain the key values for IQ Option.
  • RittoRitto Posts: 2
    maqa6757 said:

    Look on MT2IQ bot. It can place trades directly on your IQ Option account from MetaTrader. Very easy to use. I am using it with my arrow indicator automatically.

    bro you can send me mt2iq bot?
    MT2IQ bot it is very nice. I am using it yesterday. You can renting the full version of MT2IQ for 1 month at 90$ and 270$ with full version.You just use the discount code : RITT10 In the comments box . This site https://www.mt2iq.com/
  • suman3015suman3015 Posts: 4
    hello everyone.i am a beginner.could anybody tell me about mt2iq software?is it safe to use it for real accounts?please i really need help.
    thank you
  • I think IQ option is one of the best trading brokers in the industry right now, truthfully they offer overall best value in every aspect when I compared them to other companies. I think that IQ has shut down their robots though, i believe.
  • RittoRitto Posts: 2
    suman3015 said:

    hello everyone.i am a beginner.could anybody tell me about mt2iq software?is it safe to use it for real accounts?please i really need help.
    thank you

    I tested it in a real account yesterday in 5 minutes .But 1 minute I do not recommend.Use martingals 3 steps, martingals coefficient 2.5 .
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  • suman3015suman3015 Posts: 4
    RITTO you must be using a different indicator in mt2iq software.could you please tell me which indicator are you using?
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