7Star Signals is a binary options signals company which is made up of a team of expert traders who help others identify and profit from opportunities in the marketplace. They deliver professional signals to their subscribers via a web-based platform. The 7-Star signals are programmed to cover all of the asset classes: stocks, indices, currencies and commodities. Let’s take a closer look at their service to find out if they are worth the subscription fee.
Few words about their recommended brokers
7-Star Signals has identified a set of binary options brokers on whose platforms their signals can be implemented. This list of brokers is made known to subscribers once they sign up, but it includes Banc de Binary as the main recommendation and other brokers like BigOption, Bloombex, Option FM, and OptionRally. The truth is that you don’t actually need to sign up with any of these particular brokers to use the signals. Any good binary broker will do, so if you are already with a broker you like you can continue using that broker.
How the 7-star signalling system works
How does the trading signals service on 7Star Signals operate? 7Star Signals provides binary options signals on all four asset classes, with many of these assets distributed and found on global financial markets in the US, Europe and Asia. The expert team on 7 Star Signals processes financial market feeds of all assets in real-time with the aim of searching for and identifying profitable trading opportunities. This is mostly conducted using historical price data and charts to look for forming trends. Whenever profitable opportunities are identified, signals are delivered to the Signals Dashboard in the members’ area of the website.
To be able to provide this service, the 7 Star Signals team has developed a set of complex systems and data warehouses which are capable of conducting market analysis throughout the day. Powerful system algorithms are used to identify the best of the trading opportunities presented. Before the signals are sent out, these trading opportunities are analyzed by a team of professional traders with several years of financial markets trading experience. The best opportunities are filtered out of the pack and presented to 7 Star Signals members using the Signals Dashboard (see image below).
Cost of 7-Star binary options signals
7-Star Signals gives prospective clients a free trial membership to enable them test the waters and find out for themselves what it means to trade the signal services of 7-Star Signals for a period of 5 days. This comes at a token cost of only $4.95, a price that should be affordable to any trader.
Once this evaluation period is over, the traders are automatically charged $97 a month, which is pretty much a standard price for quality signals. Traders who are not interested in either migrating from free trial period to full membership, or who intend to cancel their full membership at any point in time after subscribing for it, must do so before the next billing cycle. The signals service from 7-Star Signals are paid for using the impartial ClickBank billing system. Clickbank will also monitor any disputes and issue any relevant refunds. Regulation by a third party is much safer for the costumers. Both payment plans, trial and full membership, provide the same features and levels of service which include:
- Access to the members area and Signals Dashboard
- Personal Coaching and Step-by-Step Instructions
- A large range of tradable assets to choose from
- Different types of trading strategies
- A list of recommended brokers
- A professional Helpdesk as well as 24/7 customer support services
- A full 60-day money back guarantee
Promo codes are also issued occasionally to enable traders sign up for the service at discounted prices. There is no specific timing for the provision of these codes.
Using the 7-Star Binary Signals Dashboard
On confirmation of payment, the trader is given access to the online members area with a link to recommended brokers, and more importantly, to the actual Signals Dashboard. The link to the signals dashboard itself is also sent to the trader by email using the details that are used in the short registration form. The whole process is very quick and can be concluded in a matter of seconds.
You can start to use the signals by logging in to the 7 Star Signals dashboard with your login details at any time. New signals that cover a range of currency pairs, commodities, stocks and stock indices are always updated and placed in the Signals Dashboard.
The choice of which signals to trade on your chosen platform is ultimately that of the trader. Once a trader has attained familiarity with the manner of the presentation of the trading signals, trades are placed manually by the trader with the preferred broker. It does not have to be one of the recommended brokers although you will find that expiration times proposed by 7 Star Signals more often matches expiration times of the recommended brokers.
The snapshot below clearly shows how traders see signals in their member dashboard.
Each signal consists of:
- Trading asset
- The trade signal itself (CALL or PUT)
- Confidence score (0-100%)
- Signal expiration time
- Trade alert pop-up with sound (see image above)
- View button for more information
The confidence score is derived from the trend expectancy. The Call/Put trade on which the 7Star Signals service is predicated is basically a direction-based trade contract. This is why trend following is very important with this system. The higher the trend expectancy score on a direction, the more likely it is that the signal will be given in that direction. Anything above 80% would be considered a strong trend.
The Signals Dashboard also offers real time alerts of new trade opportunities that pop up with sound alerts in the right corner of the screen. The sound alert popup is useful as it brings your attention to newly forming strong trends that can be followed.
Expect to receive 20-30 signals per day
The trading signals are generated and provided throughout the day as long as the relevant markets are open. The exact frequency of the delivery of signals to the dashboard will depend on the market conditions. Usually, a minimum of 20-30 signals are posted on the signals dashboard per day. Whenever a signal to trade is generated, subscribers to the 7 Star Signals service will receive a notification of such a signal on the Dashboard in the manner that has been described above. Each signal will also have an expiration time. If a trader decides to follow the trend he/she should do so within the given expiration time.
Additional information on the Signals Dashboard
You can also click on the red View button to see additional information for a particular asset. Here is an example for Gold that had a strong trend at the time with a confidence score of 81%.
This also helps traders with some bit of experience who are looking to learn from the signals service, and gives them a bit of insight into how the signals service from 7Star Signals operates. Scrolling down you will also see live candlestick charts with the most commonly used indicators (RSI (14), Stochastic (5,3,3) and MACD (12,26,9), that can be used to analyse the trading opportunity even closer, if one has the skill to do that. However, the beauty of the 7Star Signals is that there is a team of experts who do the technical analysis for you behind the scenes.
See the web-based signals in action
Here is a short video which presents the signals dashboard in action with a pop-up and sound alert.
Profitability of 7-Star Signals
According to the 7Star Signals team, the profitability of their binary options signals service has a historical average accuracy of 78%. The team at 7-Star Signals also realizes that the historical performance is not indicative of present results, so a performance chart which is updated daily is usually pasted on the signals dashboard for everyone to see. The performance history which is updated every 24 hours shows the following parameters: Date, Asset, Direction, Price, Expiry, Result. Using these parameters, traders can gauge the performance of the signals on a day-to-day basis over a period of time.
We tested the signals for a week and got the following results *
- Signals received (above 80%) : 143 signals
- Signals Won: 113
- Signals Lost: 24
- Neutral: 6
- Performance rate: 79.02%
* We only considered signals with confidence score over 80%. Please note that past results do not guarantee or indicate future results
The special features of the 7-Star Signals service are as follows:
- 7-Star Signals offers the opportunity to be part of a elite binary options Trading Club, with an appreciably high rate of return for traders.
- Subscribers also get a 5-day low cost trial period that can be used to evaluate the service before full blown subscription is undertaken.
- There is 60-Day Money Back Guarantee
Main benefits to traders
This signals service provides the following benefits for their members:
- Traders will avoid spending long hours upon hours in analyzing the various asset classes.
- Traders will avoid spending unnecessary amounts of money on various trading strategies that may not work.
- Guesswork in selecting either Call or Put trades is eliminated.
- Traders can turn the whole process into a learning curve, with the opportunity to gain a new perspective on how to search the financial markets and spot trading opportunities.
- Traders get the opportunity to increase their chances of achieving consistency in trading profitability.
Customer Support of 7-Star Signals
The 7-Star Signals team can only be contacted using email. Their response usually takes about 12 hours but they reserve up to 24 hours. This is definitely one of the key areas where this service could be improved. It would be nice for the customer to be able to chat with online support or be able to call and speak with a representative, at least within normal hours of operation.
The signals service on 7-Star Signals is definitely worth considering given the profitability figures. However, there are some adjustments that need to be made by the 7-Star Signals team to attain broader reach. It would be a welcome addition to include other methods of instant messaging such as SMS or push notifications. Sound alerts and pop-ups are very good but still require at least a passive engagement of the user to be able to follow the signals. However, as a web-based binary options signals platform 7-Star Signals are actually a good value for the money and offer a solid profitability rate of 78%. Please follow the link bellow to visit the official website.
We hope you find this review helpful. If you decide to use 7-Star Signal service please come back and share your opinion. Good luck in your trading!