There is a new, formed in 2016 binary options and Forex signal service called Mr. Signals and this is a full review of their signals. In case you’ve come across their website and you’re thinking about trying them out to make some money but you’re not sure if they are going to work, we hope that this full review will help you make the right decision.
Binary options and Forex signals sent by an experienced trader
Mr. Signals is run by a risk hedging specialist who worked as a trader in a big international brokerage firm for over 20 years. Working for a trading firm helped him to gain a deep understanding of the markets and develop trading techniques which control risk and exposure.
In 2016 he decided it was time to turn his knowledge and success into a signalling service to help beginner traders make money.
We have unofficially been informed that Mr. Signals signalling service might be closed after a certain number of active subscribers is reached and it will then become a proper fund management. However, it’s still not the case and at present anyone can sign up to their signals.
Manual signals sent during London/New York trading session
Many binary option signalling services rely on trading robots or fully automated indicators and EAs that analyze the charts and send signals to subscribers automatically.
Mr. Signals, however is a fully manual service. What that means is that the master trader actually sits and analyzes the trading charts and economic releases, performing technical and fundamental analysis needed to issue high quality trading signals.
The signals are sent between 12:00 and 17:00 GMT during the London/New York trading sessions when the markets are most liquid.
When an opportunity presents itself after careful analysis is performed and the signal is confirmed, it is then issued by Mr. Signal to subscribers who can then enter the trade according to the sent instructions.
Receive up to 5 high quality trades per day
The aim of Mr. Signal is to send 5 high quality trades per day. However, the markets sometimes don’t provide the right opportunities for a trader to take good positions. In that case a subscriber may receive less signals, perhaps 2 or 3 or even 1, but the main aim is not to lose money.
It is much better to receive fewer high quality signals than 20 signals that carry a much greater amount of risk. Every trader will agree with this.
Since Mr. Signal is a risk hedging specialist the signals that are issued by him are well analyzed in terms of exposure and risk. This is especially important for binary option traders who can lose their entire trade amount in case the trade goes bad.
Most binary brokers, with the exception of Anyoption, don’t provide any returns on losing trades. In other words, if you trade $100 and lose then you’ll lose the whole amount. Forex traders, however can place stop losses and protect their traded capital.
When you use trading signals issued by Mr. Signal you should know that his main priority is to stay 100% safe. It’s impossible to win 100% of the time due to the unpredictable nature of the markets but it is possible to analyse the risk and try to stay safe.
This is what Mr. Signals is all about, finding trading opportunities with the least risk.
Signals for short term and swing trades
The binary option and Forex signals sent by Mr. Signals are for short term day trading and scalping and most of them will expire within minutes or an hour. Some signals are also sent for longer swing trades that will expire after a few days. It is recommended to enter the trades as soon as the signal is received. No stop losses or take profit are given allowing the user to exit the market as he/she chooses.
The signals are very straightforward and easy to understand and to follow. They look like this: [ASSET] [DIRECTION] [PRICE] [EXPIRY], for example: EUR/USD CALL NOW AT 1.3150 EXPIRES TODAY AT 15:00 GMT.
Here is an example of a trading signal delivered via email:
After having received this type of message you can follow the instructions and place your trade with any Binary or Forex broker you like. This is another clear advantage of using Mr. Signals service, you’re not tied in to any specific broker.
Final verdict and conclusion
If you don’t want to be confused by too many text messages with signals you don;t understand and you want to receive fewer but more accurate signals, which should be the case for all traders, then you can’t go wrong with Mr. Signals. The accuracy of their binary option signals is very high, between 75% and 85%. However, please keep in mind that this is a new service and it still needs to be time tested but we feel quite confident about their future. You can now test the signals yourself for only $1. Follow the link below: