Here is a full review of Franco’s Binary options trading signals (BOTS). Find out if they’re really worth the subscription fee. Franco’s signals receive very good reviews from users. The main reason for this top rating is the live connection to professional charts, strong and direct signals (not sent via email or text message) and trading support and live commentary from Franco, a professional trader who has been trading binary options for many years. When you join his trading room, you will be able to observe, learn, and apply his trading strategy. Actually the signals have been around for so long that other traders in the room developed their own strategies that work with Franco’s signals and they share them for free with new subscribers. You will be able to communicate with other international traders in the room via a live chat window. However, this service may not be suitable for everyone who is trading binary options. Continue reading the full review to find out more or visit Franco’s official website first.
See trading charts and analysis in progress
Franco’s aim is very clear right from the start and it is is to win the week. 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 to 11:30 AM Eastern Standard Time from Monday to Friday. His website says:
Your only job is to look at the signals and listen to Franco when he suggests which trades to take. His approach changed slightly and instead of placing trades himself he now focuses entirely on assisting others, mostly newcomers, and pointing out good trade opportunities.
A few words about Franco’s charts
All of Franco’s charts are set up on ThinkorSwim professional software from TD Ameritrade. At first glance his chart set up seems a bit complicated and confusing but it actually has a very logical structure. The technical indicators that can be quickly recognized are Bollinger bands, few moving averages and volumes. But there are also other, custom indicators in the form of arrows which really make his trading screen unique. These custom indicators include Buy and Sell triggers, as well as, the very important a US dollar momentum indicator which is used as a warning to stay away from trading at certain times when the dollar momentum reaches 100 per cent red. It can also be used as a good entry point when the momentum indicator turns green and suggests a strong trend. It takes a few hours to get used to his charts and to understand the relations between them. Franco constantly improves his system and his charts now include windows with 1min, 5min, and 15min charts.
Very strong signals for 1, 2 and 5 minute trades, but not only..
Franco trades the most popular currency pairs: EUR/USD, GBP/USD, USD/JPY. He used to trade more currencies in the past but now he believes his system works best with these three pairs. As mentioned earlier his team constantly try to improve the system. The Binary Options Trading Signals (BOTS) buy and sell triggers are best for 60 second, 2 and 5 minute trades. However, because he now also includes 5 min and 15min charts in his system, it now works for longer time frames and can be also used successfully in Spot Forex trading. 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.
New addition to the system, Forex trading signals
As mentioned earlier Franco’s trading signals can now also be used in Forex trading. This is a very interesting and a useful addition because as most traders agree Forex is where the real money is. With a big trend and a considerable price movements you can make a lot more than 75% of your trade amount, at times you can make as much as 300% and more! In addition to huge earning potential in Forex you have the ability to place stop losses on your trades. In binary options if you lose you trade, you lose 100% of your trade amount, in most cases, unless your broker offers 5% return on losses (you still lose 95%). In Forex, where you can place stop losses, you can set them to 20% of your traded amount and when the price action moves against your trade you will only lose 20% of your traded amount. You don’t have to be a genius in Maths to understand how setting stop-losses can improve your overall chances of earning money with trading.
The use of Martingale strategy
To minimize losses Franco also recommends a Martingale strategy for more experienced users. He warns that this strategy must be used with caution. 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 very risky if used recklessly and we don’t recommend it for novice traders.
Quality of Franco’s binary signals
There is a slight learning curve in the beginning but after three trading sessions or so even a complete beginner should be able to follow Franco’s signals and be successful in trading binary options or Forex. On request Franco can also help you set up the professional charting 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 Franco and his team years to test and develop. Running the same software on your computer (additional monitor should be used) can really help with your entry timing, especially if you’re experiencing any lags in your Internet connection.
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. To be fair, the trading room and Franco’s screencast is shared in HD resolution via MeetingBurner, a dedicated professional online software for screencasts and meetings.
Franco’s welcome message to new subscribers
All new traders are asked to study the materials provided and be patient for the first three days. Then, after this period if they still don’t understand how the system works they should ask questions which will be answered by him or other traders in the room who have been trading longer and understand how the system work. Franco is quite confident, and many traders in the room agree, that it takes on average 3 days to come to grips with Franco’s charts and his signals and the trading system. But after an intense week of training you will be on a verge of becoming a pro trader.
Receive Franco’s trading guide with full instructions
Every member receives a free study guide that pretty much explains the entire trading system. It’s written in a simple to follow language that any novice can understand. The guide contains clear explanations with supporting images and videos and shows a number of trade strategies that can be used with Binary Options Trading Signals (BOTS). It will teach you everything that you need to know about Franco’s own trading system and the trading systems/strategies of some of the more experienced users in the room. Although it’s written around the actual signals, it’s generally quite an interesting read and contains a few interesting strategies that are easy to learn and follow on the screen. If anything remains unclear you can always ask Franco directly or consult other registered members.
Communicate with Franco and other traders in real time
The best part of Franco’s binary options trading signals is that everything is done live and you can communicate with Franco and other traders who are trading with you at the same time. They are scattered all over the world, most of them trading from home in the USA, Canada, UK, Australia, France, Italy, Japan, and other countries. You can communicate with any member directly via an open chat window. Some of these traders have been using Franco’s system for quite some time and are making a very comfortable living trading with him for only 2 hours a day for 5 days a week.
Trading with the same binary broker used by Franco
As mentioned earlier Franco does not place trades in front of his audience any more. His time is now devoted to answering questions and looking for trade opportunities. You will be able to use any binary broker with this system and replicate his success rate of 85%. Having said that, Franco first started with 24option and was trading with them successfully for quite a while. In fact, in the welcome video on his homepage we can see the 24option platform. Then, he switched to OptionFair. Both of these brokers offer a very similar trading platform, powered by the same engine (programming) which is excellent in terms of usability and its precision. Both brokers have excellent support, outstanding customer feedback and offer free demo accounts without having to make any deposits. Unfortunately neither broker accepts clients from the USA. This may be acceptable to Franco because he is trading from Canada but if you are trading as a US citizen we would recommend using CToptions with Franco’s signals. They offer a free demo account and a number of outstanding risk management tools not currently offered by 24option and OptionFair.
What you must consider before using Franco’s signals
Although there are many advantages to using Franco’s live signals (see a list of advantages below), 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 good internet connection. This puts you in a very active role where you need to learn to trade on Franco’s signals. (If you would like to have a more passive role in which you don’t need to follow a live trader to get the signals you might be better off trying web-based binary signals by Roger Pierce.)
Although Franco narrows it down to only 2 hours per day and teaches you the tricks of the trade and his trading system, you’re still required to place the trades yourself at the right time. This service will be especially attractive to those who are eager to learn how to trade and 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 without his custom signals.
Good potential for short and long term profit
Franco himself takes on average 2-3 trades per session and they are usually winners. When we tested Franco’s signals we got 87% (on his website it says 85%) but due to the fact that he is talking and explaining a lot of stuff to other trading room members, he misses some good trading opportunities. Having said that, his single trade amount is $250 so even 2 winning trades a day at 70% gain make him $350 per day in profit. Some of the more active participants in the trading room make a lot more than Franco, some of them claim to make as much as $1000 a day, although that can not be confirmed with a 100% certainty. At the end of each trading session Franco asks his subscribers for their trading score, eg. 5:1 means that the user has won 5 trades and lost 1. There are some traders in the room who have been trading with this system for many months, and their score can be quite high, reaching 9:0 and 8:0 on some days is not uncommon.
We tested the signals for a month and got the following results *
- Signals we followed (with Franco): 70 signals
- Signals Won: 61
- Signals Lost: 6
- Neutral: 3
- Performance rate: 87.14%
* Please note that past results do not guarantee or indicate future results
Here is what we liked about Franco’s service
- No software to download and install. You join the LIVE trading session simply by going to a password protected website.
- Quality HD streaming of Franco’s charts. See professional charts, indicators, and analysis in HD quality.
- Trades are called out as they happen. All you have to do is enter the trade using a binary broker of your choice.
- Takes only two hours a day from Mon-Fri. All it takes is a commitment of 10 hours per week, each day from 9:30 to 11:30 EST.
- Live session with market commentary and analysis. Franco explains his system during the trading sessions. He also answers selected questions posted by members via an open chat window.
- Can also be used on Forex. With the addition of 5 and 15 minute charts, Binary Options Trading Signals can now also be used in spot Forex trading.
- Very high winning ratio of 85%. Testing out his signals for a month we recorded 87% winning ratio!
- Completely transparent service. When you become a member everything is provided exactly as advertised.
- Mobile phone compatible. You can now follow the action on your mobile phone provided you have Flash installed or use Photon Flash browser.
- Ideal solution for those who want to learn trading. Franco’s signals service is especially good for less experienced traders who want to learn to trade binary options professionally.
- 60-DAY Money back guarantee. The payment processor offers money back guarantee within 60 days.
Costs of signing up to Binary Options Trading Signals
In order to participate in the trading room from Monday to Friday you have to subscribe for $97. This fee is all inclusive and charged 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 subscription fee is actually very reasonable. It comes to only $10 per trading session.
How to subscribe and start trading with Franco
To be fair, the subscription process could be easier. Some users complain that they don’t know how to subscribe or think that the trading room is now closed. Although there has been a rumour that Franco is considering closing the room to new traders that hasn’t happened yet and his trading room remains open for new subscribers.
These are the steps to register and join his live trading room.
STEP 1. Visit his website, scroll down to the bottom and click the SUBSCRIBE button
STEP 2. Fill in the subscription form on aMember Pro – this will create a new user in Franco’s system
Once you fill in the form click on the NEXT button
STEP 3. Proceed to Clickbank payment page to make relevant payment for your initial two week subscription that can be paid with a credit/debit card or Paypal
STEP 4. Check your email for payment confirmation from Clickbank and your trading room membership details with links to trading strategies and the trading room.
That is it. Your membership will be set up and you will have two weeks to trade with Franco and hopefully make a good profit. You will be able to log in to the trading room during the operating hours between 9:30 to 11:30 EST from Monday to Friday and watch Franco’s charts in real time. We hope this review was helpful and we wish you all the best in your trading!