Here is a review of Franco’s signal service which in our opinion is the best signal service for binary options. The best part about this particular service is that after signing up you get to watch and communicate with a pro trader who has been in the trading game for over 11 years and knows the binary industry inside out. You get to observe, learn and more importantly copy his trading strategy and replicate his success with your own binary options broker.
Copy Pro Trader Live – See Trading in Progress
The aim is very clear from the get go and it is is to win the week, which Franco always succeeds. Unlike most binary option signals, here you get to actually see live trading in progress. Franco is based in Canada and trading session starts at 9:30 AM through 11:30 AM Eastern Standard Time from Monday to Friday.
All of Franco’s charts are set up on Thinkorswim professional software from TD Ameritrade. At first look at the charts you can see that the technical analysis is rather limited to Bollinger bands, few moving averages and volumes, but there are also a few custom indicators which really make his trading screen unique. These custom indicators include buy/sell triggers and US dollar momentum indicator which comes in very handy as a warning to stay away from trading at certain times when the dollar momentum reaches 100%.
Strong Signals For 60 Second, 2 Minute and 5 Minute Trades
Franco trades the most popular currency pairs such as the EUR/USD, GBP/USD, USD/JPY and a few others and his buy and sell triggers are best for 60 second, 2 and 5 minute trades. Because there might be a slight delay in transmission depending on where you live and the speed of your internet connection we would recommend taking 2 minute trades as opposed to 60 seconds, however this needs first to be tested on a demo.
To minimize losses Franco also recommends a Martingale strategy, however this must be used with caution and we wouldn’t recommend this for absolute beginners. Martingale strategy is basically taking another trade soon after the first one with double the trading amount. The idea is that your winnings will outset the losses of your first trade. Needless to say a Martingale strategy can be a risky business if used recklessly.
Communicate With Other Traders In Real Time
The best part of these binary options trading signals is that everything is live and that you get to not only communicate with Franco, but also other traders who are trading with you at that time. You can do this directly by open chat window. Some of these traders have been using Franco’s system for quite some time and are making a good living trading only 2 hours a day for 5 days a week.
More Information About The System and Its Signals
There is a slight learning curve in the beginning but after three trading sessions even a beginner should be able to follow Franco’s simple signals and be successful in trading binary options. On request Franco can also help you set up the professional trading software on your computer and with the same technical indicators that he uses on his screen except his ‘top secret’ buy/sell entry indicators which supposedly took him years to test and develop. Running the same software on your computer – additional monitor should be used – can really help with your timing. Many traders who have signed up for his system go only by what they see on his monitor claiming that it is enough for them to trade on and that they don’t actually require to install any additional software on their computer.
Franco’s entire system is based on reversal trading. This basically means that unlike most traders he takes his trades against the trend or to put it more mildly, when the price action reverses. There is a good logic behind this when you focus on very short-term trades such as the 60 sec, 2min or 5min and use his custom indicators which tell you exactly when to enter the trade. Franco himself takes on average 2-3 trades per session and they are usually winners. I would say his winning ratio is above 93% but due to the fact that he is talking and explaining a lot of stuff to other trading room members, he misses many good trading opportunities. Having said that, his single trade amount is $250 so even 2 winning trades at 70% gain makes him $350 per day.
Binary Options Broker Used By Franco
Finally a few words about the binary broker platform that is used by Franco. Although you should be able to use any binary broker with this system and replicate Franco’s success rate of 85% we feel it is better to use the same broker as he does. He first started with 24options but now he uses OptionFair exclusively. Both of these brokers offer a very similar trading platform which we found to be excellent in terms of usability and its precision. However it should be mentioned that 24options licences its trading platform directly from OptionFair which is a leading platform in binary option trading and has excellent support, outstanding customer feedback and offers a free demo account for 4 days without having to make any deposits.
Potential Disadvantages of Franco’s Signals
Although there are many advantages to using Franco’s live signals, there may be some potential disadvantages for some users. The biggest one is the learning curve and the fact that you need to be present and trade only at specific times using a good computer with a very good internet connection. This puts you in a very active role where you need to learn to trade on Franco’s signals. This for some people may be a bit discouraging. After all what use is subscribing to a signal service if you still need to participate in the analysis. Although Franco narrows it down to only 2 hours per day and teaches you the tricks of the trade and his system, you’re still very much in control of your trading habits and depend on yourself for the duration of the sessions. This service will be attractive to those who are eager to learn how to trade, want to a winning trading system and want to understand what it takes to succeed in the markets. It is not unusual that after a few months of trading with Franco his subscribers leave the service to continue successfully on their own, even without his custom signals, mainly because in all that time they learn to develop an important skill and feel for the markets. However, if you’re looking for an immediate out-of-the box solution to binary options, you may want to subscribe to a different signal service that eliminates this learning curve entirely. If that’s the case than please read my other reviews of binary options signals that are send to you via sms text or email.
Costs of Signing Up To Franco’s Binary Options Signals
Unfortunately nothing that makes you money is for free. In order to participate in the trading room from Monday to Friday you must subscribe by paying $97 every two weeks. Although it is not the cheapest system for binary trading signals it is not by any means the most expensive one, and when you consider how much money can be made following Franco’s system the subscription fee pays for itself very quickly. When you add to this the invaluable hands-on experience that you get by being in the trading room and learning directly from a world class trader, the fee is really a drop in the bucket.
If you would like to sign up to Franco’s binary options signals today you can use the link below.