If you want to trade Binary Options successfully then, you will not only require a sound trading strategy but also good trading indicators and trading signals. As we know that trading Binary Options ends up in either asset or nothing, trading the options are considered to be less risky than trading Forex/CFDs or cryptocurrencies. But this does not mean that the market of Binary Options is not highly volatile. With an increased number of people joining the Binary Options trading market, the competition between the Binary Options brokers for acquiring new clients have also increased. This is where you require Binary Options trading signals and you will be able to focus solely on profit-making.
Breaking Down ‘Binary Options Trading Signals’
There are numerous financial trading companies that work behind the scenes and constantly monitor the trends of the market. Their aim is to create trading opportunities for their clients. These companies are called Signal Service Providers (SSPs) as their task is to send signals to the Binary Options traders that will help them to decide when to place a Call/Put option. The SSPs share the information with their registered clients such that their profits increase. The materials sent by the SSPs to their clients may have a direct impact on the underlying assets as they carefully analyze all the fundamental and technical data. Many good signal providers also support their client by providing trading tips and market analysis. The information regarding the assets is always up-to-date and directs the traders towards the ongoing trend and the corresponding expiry time.
The SSPs provide the following data regarding Binary Options trading:
- The names of the underlying assets or options.
- The preferable entry price of the underlying asset.
- When to place a Call or Put option.
- The expiry time of the underlying asset.
An extensive range of Binary Options trading signals exist in the market and as a trader, you will be able to choose either of them. Some of the signal service providers also offer additional services to their registered clients, like binary options indicators for 60 seconds trading or indicators for 5 minutes. The trading signals also save a considerable amount of time as it becomes unnecessary to follow each movement of the market individually. Sometimes a Binary Options signal service provider offers the potential clients a trial period, like BinaryOrders does. They offer you the possibility to join, for a limited period of time, their live binary options trading webinars and use the mobile app signals. You can test the trading signals and check out its features before subscribing to that particular SSP. It becomes difficult to choose the SSPs as it is often difficult to understand which trading signal provider would suit you best. Therefore, this article will guide you to choose a good SSP such that the chances of winning a trade increase. It is not possible to absolutely predict the trade but trading signals go a long way to improve your trading strategy.
How to Choose Binary Options Signals Provider
Before deciding on a Binary Options trading signal provider you must consider the following points:
- The features
The Binary Options signal provider should have a structured configuration. The properties of the trading signal should be laid out such that the trader can study them and decide whether it will suit his purpose. Some of them may simply provide basic information like when to invest and sell the underlying asset. Some of the trading signals provide ‘predictions’ regarding the direction in which the price will move based on a detailed analysis of the past and the current market trends.
- Success rate
Success rate is one thing by which you can decide whether to opt for the Binary Options trading signal. It is also important to read the reviews of the signal service provider as the shortcomings and advantages often come out from the comments of their clients. Generally, the success rate of the trading signals and its provider are displayed openly to attract new clients. They need to be very transparent and post results/review on social networks just like they do on this Facebook page.
- Frequency of the signal
The Binary Options SSPs offer their registered clients a certain number of signals per day. You can choose the number of signals delivered per day by the SSP. In case you are a full-time Binary Options trader, you should choose a SSP that provides multiple signals in any given day. If you are trading Binary Options in your pastime then one signal per day will likely suffice your purpose. The timing of the signals is also vital. At BinaryOrders.com, the user is able to trade tens of signals per day (Monday to Friday), because of the Pink Freud 60 seconds indicator, Invinctus 5 minutes indicator, mobile app signals, live trading webinars and more.
- Cost and balancing quality
It is important to check the cost of the Binary Options trading signals while you are considering a signals service provider. The cost of the trading signals depends upon the signals frequency. The high-quality trading signals, as expected are costlier than the low-quality trading signals. The comprehensive signals are more costly than the other Binary Options trading signals. But, it is necessary to make a judicious choice as all costly signals may not be good.
- Trial duration
It is essential to choose a Binary Options signal service provider by checking out their services first. Most of these providers offer their potential clients a trial run for a specific time at a comparatively low cost or sometimes even for free. If you have an idea about Binary Options trading then, it will be easier for you to study the features of the trading signal and accordingly choose the provider. The traders will thus be able to determine the quality of services before the subscription.
- Type of notifications
Most of the Binary Options trading signal service providers have different notification methods. These are immediately sent to their clients such that there is no wastage of time when trading the underlying assets or commodities. The signal providers generally transmit the signals via websites, mobile app, live webinars, indicators and so on
- Integrating platforms
When you are selecting a Binary Options broker then, make sure they provide a sophisticated trading platform. This will help the traders to analyze and use the trading signals more effectively. The combination of an integrated trading platform and efficient trading signals will help you to increase your profits largely.
Ayrex is the best choice when it comes to trading binary options signals.
How to Avoid Signal Service Providers Scams
With a boost in the volume of Binary Options trading, the number of scam brokers has increased. Seeing it as a lucrative business opportunity, a large number of scam trading signal providers has also arisen. It has thus become essential to distinguish an authentic signal provider from that of a scam trading signal provider. Here are some tips to avoid such signal service providers:
- Knowing your Binary Options trading signal service provider
The Binary Options trading signal service providers operate in different ways. They take the help of newsletters, forums or blogs to improve their trading signals. Some of these SSPs may offer automated trading options that will make it easy for you to trade the underlying assets or commodities. Although it is better to choose a signal service provider that requires you to remain up-to-date. You should never blindly follow the signals and have some knowledge about the Binary Options market to analyze the trading signals accurately. If you have signed up for a newsletter then the service provider is unlikely to put the trades for their clients. You should always be alert if you have selected a manual signal service such that you can revise your strategy as soon as the signal is received. An automatic signal service requires constant monitoring. Thus, it is essential to know the type of the trading signal service provider before subscribing to them.
- Paid services and free services
If you have chosen a free signal service provider then you have the liberty to leave at any time. It is better if you do not continue with the free signal services for a longer period as they may later prove to mislead you. In this way, there are high chances of losing the trade. So, you should pick up a paid signal service provider and make sure that it is a trusted, registered source. In order to distinguish it from scam websites, you need to find the objective of that website, the customer experience and whether they have free trial duration. If you do not want to continue their services then, you must cancel the subscription and remove your CC or else they will charge the full fee after completion of the trial period.
- Avoiding robots when trading the options
Avoid the signal service providers that offer auto trading features and which promise you that you will get rich fast. This is because you will have to download software on your device that will take up control of your Binary Options account. It will automatically enter and exit trades based on the signals provided by the signal service provider. You should never give up control of your Binary Options trading account and it should always be your decision to Put/Call.
You should therefore judiciously choose a Binary Options signal service provider such that you receive instantaneous signals that are totally based on the market data analysis and is updated.
Visit our recommended binary options signals provider and join them for free!