Mike`s Auto Trader Review

Mike’s Auto Trader is a web-based Binary Options semi-automated trading platform which uses algorithms to generate trading signals every day. The platform is compatible with number of brokers and at present, boasts of an average ITM [In the Money] trading rate of up to 80% per month. As with all trading platforms, investors should remember that the performance of this auto trader varies with each trade and day. Some traders who experience losing streaks may regard auto trader sites as scam platforms when lose on a few trades. Losing on a few trades is all part of the trading experience as no service is perfect, every good investor knows this. In the review below, we’re going to delve deeper into Mike’s Auto Trader, providing both its strong and weak points.

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Introduction

Mike’s Auto Trader is a creation of Michael Freeman. Mike, as he is commonly known, is one of the leading mentors in the binary trading options market. His trading platform, which is powered by proprietary software, is also a strong player in the binary options robot industry. This firm has earned quite the following, and traders who follow his advice has reported good results. But there are also some who has reported that they have lost their money quickly with this software. The software in use here isn’t new but it has recently been revamped in order to detect and place even more winning trades.

mikes auto trader review

Michael Freeman is pretty well-known figure in binary options world, but is his auto trader software trustworthy?

Mike was among the very first people who offered mentoring lessons to binary options traders having been an integral part of this industry for years. Mike has over the years provided a lot of trading knowledge to the binary options community, through offering hundreds of free strategies on his web portal, plus on his YouTube channel which hosts hundreds of videos relating to the world of trading on binary options. The YouTube channel is followed by over 15,000 subscribers, making it one of the widest binary options channel in the market.

When the auto trader was launched, all the members of Mike’s signal group on Facebook were approved automatically to use the trading platform without making any new deposits with affiliate brokers. This was a way to reward the loyal subscribers. Mike also changed upped the stakes when it comes to raising money for charity; when the auto trader was first released, investors who wanted to access the software needed to donate a minimum of $50 to a charity organization of their choice then email receipts. This was in order for all the donations to be tallied towards raising money to create awareness for Syrian orphans.

This method of registration has managed to raise over $100,000 for charity so far. Though you are no longer required to donate money in order to access the auto trader, you may still be asked to make a donation towards this initiative but it’s completely on a voluntary basis.

michael freeman binary options

Mikes auto trader have its own very popular Facebook group

Should You Use Mike’s Auto Trader?

This platform is more than trading software. It is also a community of traders that affords you a chance to interact with other traders while developing your trading edge. The software is free and you will also get the extensive knowledge of Michael Freeman, the firm’s founder. The platform uses semi-automatic binary options trading software to make life easy for its traders. This is through simplifying as well as automating the technical analysis modules plus the process of applying trading signals to brokers’ accounts.

Here’s how: signals are generated 24 hours every day for 5 days a week according to the auto trading scripts, and then users are free to choose the signals they wish to go with. Upon choosing a signal, the user will then select a trade amount that will allow him/her to control the risk he/she is willing to take on that signal. The minimum trade amount has been set at a low of $25.

To sign up with Mike’s Auto Trader is free. The only requirement is a broker registration and a minimum deposit of $250. However, the recommended deposit is at least $500 considering the best practice in money management is trading about 5% of your total balance. In the past, there was a requirement for every new member to make a donation to a charitable cause when signing up. Today, it’s not really a requirement though it’s highly encouraged.

After registration, the software itself has the option of automatically choosing the broker. Unlike other binary options platforms, this one allows you to sign up with a number of several different brokers that includes; One-Two Trade, Interactive Option, Lbinary, Titantrade, OptionRally, GTOptions, BigOption and AnyOption. The fact that Mike’s Auto Trader is a direct affiliate with many brokerage houses makes it easier for many traders to sign up.

You have to be a confident trader with a passion in trading and the willingness to dance with the markets. Should you choose to rely on your own strategies, it may take you a long time plus much effort to master the trading techniques. However, should you want to learn swiftly while still trading, you might want to check out the trading strategies presented on Mike’s blog. The blog offers a slew of interesting technical strategies for those traders who are looking to learn the art of trading binary options manually.

In my personal opinion this is very time consuming process overall. I would rather use fully automated trading software like binary option robot or binary hedge fund

Mike’s Manual Signals Facebook Group

Joining Mike’s group ensures that you receive trading signals [between 20-30 signals every day] from professional traders. In addition, the group is a learning community where you stand a chance to gain access to educational webinars while being able to ask any questions concerning binary options trading. Here, trading signals are sent to members through Facebook.

There’s also an option to configure your Facebook account so it sends you signals via email or SMS. Of greater importance is the fact that, with the huge number of professional signal providers within the group, you are able to receive trading signals constantly at any time of the day every five days in the week. This means your time zone is really irrelevant no matter where you are from.

mikes auto trader facebook

Mikes auto trader facbook group is somehow useful, but if you are using topnotch software like binary option robot or copyop, it is basically useless for you.

The Important Features

  • It’s compatible with a number of broker sites. Mike’s Auto Trader is absolutely compatible with among the most trustworthy brokers’ sites such as “AnyOption” and “GTOptions”. These two brokers boast of hundreds of thousands of clients plus years of experience meaning you won’t be worried about getting scammed.
  • Mike’s Auto Trader is  free. Users were formerly required to make a donation to charity but that is not mandatory any more. Once you have registered with the software, you are allowed access to an exclusive Facebook group.
  • Traders from all parts of the world are highly welcome. Mike’s Auto Trader does not discriminate regardless of whether you are from the US, Europe, Asia or Africa, all users are highly welcome to use this auto-trading platform. This is an extremely important facet nowadays considering there are many brokers who have set trivial restrictions as regards clients from certain countries.
  • This platform is 100% web-based. Users don’t have to download anything to their computers meaning the software will not eat into your valuable processing power and time. The software has been tested for compatibility most operating systems there are and whether if you use the Windows or Mac operating systems, this binary platform will work like a charm.
  • It is particularly easy to setup. Novice traders can start using this software immediately; it’s one of the best options for beginner investors because they are offered really extensive educational materials as well as incisive tips from Michael Freeman himself so they can develop their investing skills easily and quickly.

All these features sounds good, but there is nothing really that would make it stand out from better software like binary option robot.

Other Important Facts about the Software

  1. The software is actually not a binary robot but rather, it is a signal provider. Unlike the Binary Robot or Binary Hedge Fund, this platform is a signal provider and not a fully automated trading portal. The way it is set, you cannot sit while the auto trader makes you money. You must set all the investments yourself; the final responsibility rests upon your shoulders. You have to do all the hard work
  1. There are limited amounts of trades placed per day. It is a conservative software since you won’t receive huge amounts of signals everyday. You only receive the best ones -those that are more than likely to turn out a winning profit. But if you are the kind of trader who prefers high volumes trader, it’s recommendable to also use other auto traders beside this one on order to ensure you get enough trades.
  1. You have constant access to the winning signals provided. Currently, the average monthly ITM [In The Money] rate is between 70% and 80%. For instance, you can get a return rate of up to 70% from 15 out of 20 signals, which is quite higher than the return rate some auto traders are able to provide. This trading platform is especially great at predicting the movement of the currency pairs. If you prefer Forex trading, then this platform is what you need if you want to boost your profits.

Who This Software Is Suited For

For any person who is looking to earn some extra income online. You don’t have to be an experienced trader in order to get started. This auto trader is also well suited for Forex traders who are looking to participate and make profitable trades in the binary options market. For shares and stocks traders who are encouraged to take advantage since this platform is an easy way to start trading in binary options while expanding your investment portfolio.

How Mike’s Auto Trader Works

Just like with every other binary options robots, this software platform is based on the use of algorithms that are pre-defined. The algorithms here have been developed by Michael Freeman and naturally, they are secret. Because this platform is not completely automated, investors are therefore required to be knowledgeable about binary options trading. It is a platform for experienced investors with a grasp of fundamental analysis. Since the signals generated do not take into account fundamental factors but only the technical ones. Being a semi-automatic signal service means your success rate solely depends on the depth of your trading knowledge, and more specifically, on your awareness surrounding the fundamental factors which will influence the asset(s) you choose to focus on.

If you are an experienced trader, it’s possible for you to reach a success rate of 80% or more, but if you are a novice investor with no trading knowledge, you will more than likely not reach a success rate of more than 50% ITM trades. The best path therefore, and according to the founder Michael Freeman, is for you to first sign up with this auto trader’s manual signals group on Facebook and once ready to trade on your own, start using Mike’s Auto Trader platform. Since members of the auto trader are also allowed free access to the Facebook manual signals group, you may opt to register with the platform and put using the software on hold so you can take time to learn how to trade. You definitely have to be willing to work hard, if you wanna earn money with this software.

mikes auto trader youtube

Can You Earn Money With The Software?

This must be the major which has been on your mind the whole time you were reading this article. There’s no straight answer here because the amount you make depends on a lot of factors such as;

  • Your level of knowledge.
  • The amount of money you start with.
  • How big a risk you are willing to take.

Some traders may earn something with this software, while others may lose small sums of money in the beginning before they start to rake in winning profits. However, let’s take an example:

Say you invest a minimum of $100 with a low-deposit broker. This means you can risk a maximum of $10 for per trade made. Let’s say you take five quality signals every day as there are at least 20-30 signals are available all the time. With the top traders averaging up to an 80% ITM [In the Money] success rate, it means your daily results would be comprised of four winning signals plus one OTM [Out of the Money] signals on average. Subsequently, your daily profits are $22, which is $110 per week or $462 per month. Which is not bad considering that the time required to place a trade is usually 1 to 2 hours per day.

What if you had deposited $500? It allows you to risk up to $50 per trade which will result in a profit of $3,150per month. However, should you want to deposit more than $500, you will be better off if you open multiple broker accounts [3 to 5 accounts] and then deposit between $100 and $1000 per account. Together with allowing you to experience the special features each broker offers, an added advantage is that a trade which ended OTM with one broker could expire as an ITM with the other brokers due to the slight differences between the brokers.

If you choose to use this strategy I strongly recommend that you use binary option robot instead of Mike’s Auto Trader, since you got much better average return rate with it.

One other reason why you ought to register with more than one broker is; because binary options trading platforms come with limits that are imposed on the trade amount, you will be unable to use the amount of money you desire with a single broker when trading using large amounts, and you would be forced to spread it across several brokers.

As such, this auto trader is recommended as a long time tool. Don’t dwell on how much you will make instantly. Remember that you’re seeking to become as good an investor as possible, and this aid gives unfettered access free of charge so you can speed up the learning process.

The Trading Platform

Mike’s Auto Trader sends you signals on certain stocks commodities, currencies and indices. The software is designed in a way which allows you control over what trades you wish to place, and you also get to choose if you want to trade on a given signal or not. There is human interaction that is clear and the fact that you have control elements means you are able to trade as you wish.

More factors that make this platform a worthy model are;

Pros

  • The auto trader has a marked consistency and a track record with binary options as to afford you access to place trades that will give you up to 80% ITM [In the money] in profit returns per day. (I did not get that high ITM in my test, so I am little suspicious toward this promise)
  • This software will allow you to pick and choose the signals you want to trade on.
  • The software will give you access to an average of 30 on a daily basis.
  • This is not just an auto trader as there’s room to get an all-inclusive training experience in binary options trading.
  • The website is not cluttered with bland phrases or random blubber.
  • Mike operates binary options channel.com, his official website where he posts articles based on tips and strategies regarding binary options trading. The site is ranked as one of the Top 3 blogs in the binary options market.
  • The Auto Trader platform is completely free to access.
  • The Auto Trader works on any mobile device: Smartphone, laptop or tablet.
  • The Auto Trader accepts traders who are based in the US.

There are other factors however, that might make trading on this platform not quite such a great experience. These include;

Cons

  • You may be required to make a donation to charity. Even though it’s not mandatory, you are strongly encouraged to donate to a charity of your choice and some traders may find this awkward.
  • The software in use on this auto trader can only be synced with certain brokers. Additionally, you must register directly from the software.
  • The auto trader software is not compatible with Internet Explorer and you are forced to use Google Chrome for it to work which can be a tad limiting and irritating.
  • The auto trader is not available in a number of countries, some of which include Maldives and India, plus a number of countries without full regulation of binary options trading.
mikes auto trader trading

Trading platform is very simple, actually too simple. You really can not make any adjustment which are necessary to earn as much as possible.

Conclusion

Mike’s Auto Trader is quite the most fascinating binary robot. There are a few similarities and big differences too when Mike’s Auto Trader is compared with other binary options robots. There are certain types of investors who will greatly benefit by using this software platform and others who will not. Because this auto trader is fairly new in the market and it’s not fully automated, it’s hard to be certain how trustworthy it is. Traders should instead use the Binary Option Robot for a really seamless trading experience which is powered by more trustworthy software.

The Binary Option Robot is software which you can program to automatically in order to place certain types of trades for you. Unlike Mike’s Auto Trader that is semi-automated, this robot software is conveniently menu driven as well as quite easy to use. The software usually comes in two editions; the basic version which is offered as free for use, and the VIP version which is packed with many additional features that you won’t find on the basic version. Evidently, the automated Binary Options Robot beats the semi-automated Mike’s Auto Trader hands down.

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References and Further Reading

  1. Patent: Automated trading system in an electronic trading exchange: John M. Marynowski, Catalin D. Voinescu,Stefan Puscasu, Thomas M. O’Donnell
  2. The impact of institutional trading on stock pricesJosef Lakonishok Andrei Shleifer and Robert W. Vishny

  3. Martingales and stochastic integrals in the theory of continuous trading: J.Michael Harrison Stanley R. Pliska

  4. Stealth trading and volatility: Which trades move prices?:Michael J. BarclayJerold B. Warner
  5. A Unified Theory of Underreaction, Momentum Trading and Overreaction in Asset Markets: Harrison Hong, Jeremy C. Stein
  6. Optimization of Automated Trading System’s Interaction with Market Environment: Petr Tucnik

  7. Technical analysis and the effectiveness of central bank intervention: Peter Saacke

  8. Exchange rate volatility and noise traders: Currency Transaction Tax as an eviction device: Olivier Damette

  9. Insider Threat Study: Illicit Cyber Activity in the Banking and Finance Sector:  Randazzo, Marisa R. ; Keeney, Michelle ; Kowalski, Eileen ; Cappelli, Dawn ; Moore, Andrew
  10. For Whom the Bell Tolls: The Demise of Exchange Trading Floors and the Growth of ECNs: (JW Markham, DJ Harty
  11. Informational integration and FX trading: Martin D.D. EvansRichard K. Lyons

  12. The Informational Role of Upstairs and Downstairs Trading: Sanford J. Grossman

  13. A foreign exchange market trading system by combining GHSOM and SVR: de Brito, R.F.B. , Oliveira, A.L.I.
  14. Efficient mechanisms for bilateral trading: Roger B Myerson, Mark A Satterthwaite

  15. The rise of the trading state : commerce and conquest in the modern world: Rosecrance, R.
  16. Trading Is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors
  17. An econometric analysis of nonsynchronous trading: Andrew W. Lo A. Craig MacKinlay

  18. Special Information and Insider Trading: Jeffrey F. Jaffe

  19. Trading Volume and Serial Correlation in Stock Returns:John Y. Campbell, Sanford J.Grossman, Jiang Wang

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