Published on January 3rd, 2018 | by John Kane4
Tool Review: MT2IQ
Summary: Looking for a way to automate your binary trading strategy? This may be the answer.
In my attempt to find new ways to approach the binary options platform, I’ve recently come across a tool that’s built to connect meta-trader 4 to IQ Option, MT2IQ. With the exact same design, it’s clear to say that this tool comes from the same developers that brought us the MT2Binary system I reviewed just over a month ago.
I still have no further information about who the creators of this tool are, but they can be contacted via email at firstname.lastname@example.org. They also have a Facebook page with a couple of posts, but there isn’t very much information listed here.
The purpose of the MT2IQ software is very simple. The creators want to provide traders with a tool that will allow them to automate the trading process by connecting MT4 with the IQ Option, binary options brokerage. The system is built to support MT4 indicators and expert advisors, so that when you receive signals, they can be automatically placed with the binary options brokerage. The tool is built to work with all currency pairs and expirations, while continuing to provide fast execution of trades.
The main sales page comes with an instructional video that is 6 minutes long, and shows the process from beginning to end.
In order for the process to be automated, traders can use the supplied “BinaryProfit indicator or any other arrow indicator,” that they already own. The software will then read when an arrow is placed on the chart, and it will automatically send this trade to the IQOption brokerage.
The MT2Binary software, which was this developer’s original project, was going for $150, so there’s been a significant increase. One thing I do appreciate about this tool, is the fact that you can download the software for free to utilize on a demo account. This is a great way of making sure that the software suits your needs, before you purchase the full version.
The software is built to work on windows 7, 8, 10 or Server 2008/2012.
How It Works
After setting up MetaTrader 4 to automate binary options, traders will have to put the MT2IQ connector software on their charts, along with the indicator that provides signals. Then, in the connector tool, traders are required to set their expiration time, trade amount and set auto trading to on.
The video goes on to tell us that we need to set buffer numbers, but I’m not sure what they mean by this. This is likely something that is discussed in their guide, as it’s not shown in the video. Traders also have the choice of whether or not they want to enable the martingale feature, which will automatically attempt to recover funds after losses. I am not martingale subscriber, so I do not recommend setting this aspect of the system to true.
I imagine you have to put your login details somewhere in the software as well, this isn’t covered in the video either.
I’m certainly intrigued by this new approach to binary options trading. I’m always looking for new ways to automate my strategies, so it’s likely I’ll spend some time with both MT2Binary, and MT2IQ in the near future deceive these trading approaches work with Binary Strategy, and Binary Today 5, the two MT4 based signal providers that I’m using most frequently in 2018.
If you’ve tested this software, or you just want to leave your thoughts, please write a comment now.
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