Binary Options Signals are messages or alerts which provides information about specific trades. The details depend on the type of service and signal that has been selected. These services whereby binary signals are provided will either be charged as a once off system purchase, or charged as an on-going subscription over a set period.
At binaryoptions.net.za we strongly suggest learning more about signals. By making use of a third party for investment decisions, you may have less control regarding risk management. Regardless of that, we know many traders will still make use of it and for that reason we review some of the better providers below.
Types of Binary Signal
A broad range of services is available, and it is worthwhile considering them all to better understand which one to use.
Free signal services does provide a cheap solution, however the provider will have to recover their costs from somewhere. Although it would not be immediately obvious how this is accomplished, some would require your to only sign up with a specific broker. Often these brokers may not be the right choice, and can place the trader at financial risk. Misleading “get rich quick” marketing and these free signal services are often synonymous.
The next tier is a paid service where information comes from a single source, which is usually a single system or an individual advisor.
Third tier is signals collated from multiple sources. Only when a certain number of the sources highlight the same trade, or where a human trader can confirm a signal highlighted by an automated algorithm, will the signal be advised.
How to Find the Best Binary Options Signal Service
First look at what is offered, in order to compare binary option signal providers. A good service would offer entry, exit and stop loss figures, either exactly or as guidelines with some supporting information. This could either be graphs, technical analysis or other data. Some services provide performance history which demonstrates the effectiveness of a strategy. Consider as well the way in which a service is sold – do not fall for any promise of instant fortune.
Consider the following when trying to identify the best binary signal service:
- Success rate. How often is this signal service correct, with other words how many trades won? Usually shown as a percentage.
- Number of signals and frequency. Very closely linked to cost, and in relation to fee paid, how many alerts are given?
- Supporting evidence. What additional information is provided, to help filter our unsuitable trades? With no detail, it is difficult to judge a signal.
- Price. How much does the service cost, an obvious consideration as it can vary from free to very expensive. However, weigh the costs up against all the other factors provided, as the expensive services are usually so for good reason.
- Free Trial. Obviously they trust the information that is provided, hence a free trial can be offered. If there is no free trial, it could be that the results does not reflect the promises made.
- Additional Services. Some providers do offer more than just signal services, such as broker integration and/or education.
- No forced sign up. If you are only allowed to sign up with a particular broker, rather be careful and do not make use of the service.
Different types of signals may be offered, including:
- Forex signals
- One touch binary options signals
- End of day signals.
Because of this variety, it is difficult to generalise about services. Should a trader be focused on a specific type of trade such as ‘end of day’, choose a service provider that specialises in that type of signal. A trader should consider their own preferences, when comparing signal services.
Binary Option Signals Providers
A huge selection of signal providers are available, with some only providing signals, while others have related services too such as alert services. A trial service is provided by some, which is an excellent way to see what is provided and how the service operates.
The Best Binary Options Signals Service?
Below is a summary of some of the best signal services we have identified. These are the services of professional signal providers we would recommend as we have been approached by many providers and we have researched testimonies and comments of existing clients in order to give this review.
Binary Signal Reviews:
Blue Sky Binary signals
Signals offered via the Signal Hive service
Free 7 day trial
Includes Education and the Binary dashboard which is a bespoke tool for traders, with the ‘tripwire’ price alert feature, as additional services
Combination of experienced human traders and algorithms
Transparent service – View the latest performance graphics here
Access to the Trader Community
Visit Blue Sky Binary here
Traders looking for some assistance in their trading, can use Blue Sky Binary as it is currently the best option. They offer a free introductory consultation for both parties to establish what they require. Their range of services meets most requirements, including education, signal alerts via the hive service and AutoTrader – an automated trading system. The AutoTrader is sold with realistic price warnings regarding potential swings, which is a good indication of the transparency of the operation.
Signals365
Voted “Best Signal Service 2014” by Investoo.com
Proof of results regularly available. 65% to 70% finish in the money (winning trades)
Easy to use, broad range of expiry times used
Average of 120 signals provided each day
$99 per month – The service can be accessed for free, visit their site for full details.
Visit Signals365.com here
JohnAnthony Signals
Free binary signals are currently being offered.
Alerts are less likely to be missed with their Mobile App
Daily publishing of proof of results
Average of 17 signals a day, with 72% finishing in the money (winning trades)
Currently a free service, however a Forex signal service has recently been added which requires a monthly subscription.
No long term commitment, the service can be cancelled at any time
Excellent multi-channel support, plus education tools
Visit JohnAnthonySignals.com here