Here is a full review of Franco’s binary trading signals. 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, copy his trading strategy and hopefully replicate his success. You will also 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 trading binary options. Continue reading the full review to find out more or visit Franco’s official website first.
See trading in progress and copy a professional trader
Franco’s aim is very clear 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 through 11:30 AM Eastern Standard Time from Monday to Friday. Your only job is to look at the signals and copy Franco when he takes a trade.
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 the chart set up seems quite simple and 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 and Sell triggers as well as 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.
Very strong signals for 1, 2 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.
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 business if used recklessly.
Quality of Franco’s binary 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 he 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 entry 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.
Here is a short video recorded during one of his trading sessions.
Receive Franco’s trading guide with full instructions
On sign up every new 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 is about 15 pages long with clear explanations and supporting images. It will teach you everything that you need to know about Franco’s binary system. Although it’s written around the actual signals, it’s generally quite an interesting read and contains a strategy that is easy to learn and to follow. If anything remains unclear you can always ask Franco directly or consult other registered members.
Communicate with 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.
Binary options broker used by Franco
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 his success rate of 85% we feel it is better to use the same broker as he does. He first started with 24option and was trading with them successfully for quite a while but now he uses OptionFair. Both of these brokers offer a very similar trading platform which we found to be excellent in terms of usability and its precision. Both 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 ok for 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.
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 good internet connection. This puts you in a very active role where you need to learn to trade on Franco’s signals. This may be a bit discouraging for some people. 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 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 many good trading opportunities. Having said that, his single trade amount is $250 so even 2 winning trades at 70% gain make him $350 per day. Some of the more active participants in the trading room make a lot more than Franco, some of them make as much as $1000 a day.
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.
- Trades are called out as they happen. All you have to do is enter the trade using a binary broker of your choice.
- Live session with live commentary. Franco explains his system during the trading sessions. He also answers selected questions posted by members via an open chat window.
- Very high winning ratio of 85%. Testing out his signals for a month we recorded 87% winning ratio!
- Transparency of service. When you become a member everything is provided exactly as advertised.
- Ideal solution for novice binary options traders.Binary Options Trading Signals are especially good for less experienced traders who want to learn to trade binary options professionally.
Costs of signing up Binary Options Trading Signals
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 subscription fee is actually very reasonable.
We hope this review was helpful and we wish you all the best in your trading!