Compare Binary Options Signals – Comparison & Guide
A comparison table of trusted binary options signal providers that use professional traders or software to recommend winning trades. Prices and results vary depending on the provider but they all have one thing in common – they let you trade the markets with a much higher degree of certainty. Read our Definite guide to binary option signals for more information.
Binary Options Trading Signals
|Live sessions. Watch and communicate with a pro trader. Observe and copy his live trades. Multiple signals per day. Good for those who want to learn to trade. Highest winning ratio.|
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|Live sessions. Half-hour live trading sessions dedicated to trading binary options in the US. Sessions run Mon-Thur between 9am-9:30am EST.|
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Auto Binary Signals Software
|Web based. Uses software developed by en ex JP Morgan trader Roger Pierce. All major currency pairs and indices are covered. Single payment and no recurring fees.|
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Binary Options Pro Signals
|Email and SMS. Signal service that claims accuracy of about 78%. The signals are sent via email or by SMS message.|
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* Wins claimed by provider
Binary Options Signals – The Definite Guide
As traders strive to achieve better profitability in the markets and in as little time as possible, the demand for binary options signals services has increased in the last three years.
From virtually no signals services in 2008 when the binary options retail market kicked off, we now have a plethora of signals service providers operating in this arena.
Binary options signals services provide professional trading alerts that help the trader decide when, what, and how to trade. The signals can be delivered via email, phone, live broadcast, or a website app.
If you’re reading this guide then you’re probably way ahead of those who don’t want to seek professional help. Too many beginner traders have lost their investments due to having too much pride or to big of an ego. When there are opportunities to get help from traders who have been trading the markets for a living for many years, it’s a lot easier to become a winning trader.
Seeking professional help is the most logical step you can take in your trading venture and towards your future as a professional trader. The other step is to learn as much as you can to replicate the success of the winning traders.
2. Types of binary option signals and their delivery
3. Binary signals sent via email and/or text message
4. Binary signals via online live streaming of trader activity
5. Binary signals delivered via a web-based platform
6. Automated signals – Fully automatic trading
7. Choosing the right binary options signal service
8. Few final words and suggestions
9. The best binary options signal provider of 2015/2016
10. References and recommended reading
Advantages of using professional binary options signals
If you are just venturing into the world of binary options trading you should know that there are many benefits to using professional binary options trading signals. We will discuss them in greater detail when we look at each type of signal service but in a nutshell here is what you gain.
- A huge short cut to better trading
- Guidance and advise of more experienced binary trader/s
- A lot of free time by not having to learn and analyze the markets yourself
- A working and successful trading strategy
- A less stressful and more fullfulling trading experience
- More winning and less losing trades
Most signal providers understand the need for their services and they do their best to provide high quality signals that help people win. They design their services mainly to help beginner traders but more advanced traders also like the convenience of receiving trading signals.
Before we can choose the right binary option signals service, it is important to fully understand the nature of the signals service being chosen. This involves knowing all the types of signal services out there.
Types of binary options signals and their delivery
Access to binary brokers online is fairly easy and provided you’re over 18 and you have at least $100 to your name you can trade binary options online.
Signal services are meant to simplify the entire trading process even further. Their fundamental function is to alert subscribers of good trading opportunities in the markets.
Professional traders who run binary option signals are in most cases very experienced technical and fundamental traders who have full confidence in their trading strategy. The trading strategy needs to work successfully in order for the subscribers to keep using the signalling service.
Binary options signals can be classified into two types:
- Manual – may be delivered by email, text message, streamed live, via website
- Automated – linked directly to your trading account
Some may add a third class, which is a mix of manual and automated signals, but most signal providers prefer to stick to one and specialize in it. However, a growing number of providers that have started their signal service via manual means, for example streaming their live trading sessions online, now also offer premium fully automated trading in which their buy/sell signals are synchronized to your live trading account and trades are placed automatically on each signal.
Binary signals sent via email or text message
Manual binary options signals are by far the most popular among providers and users. These services rely on programmed automated algorithms, an individual trader or a team of traders who are highly skilled in analyzing the markets to pull profitable setups from the charts.
This information is then relayed to their subscribers via an instant email or a text message. These binary options signals will tell subscribers exactly what and when to buy or sell, as well as the expiry times for each trade.
A typical signal sent out will look like this:
Call EURUSD 11:28:48 @ 1.2134: Expires by 12:30
This signal means that the trader is being asked to take a CALL trade on the EUR/USD at a price of 1.2134, with the trade being valid as from 11:28am and expiring in 1 hour. This is not always the format that SMS signals assume, but usually the signals’ provider will give some additional information on how their signals are sent, the format they will assume and how they can be traded.
One of the biggest advantage of using these type of signals is that you don;t have to sit in front of your computer to receive them. You can be travelling and receive a signals to your phone and trade them using a mobile app from your preferred broker. A good example of manual signals delivered via email and text message are from Binary Option Pro Signals.
Binary signals via online live streaming of trader activity
Another mode of delivery manual binary signals is streaming them live online by a trader who shares his trading charts via a password protected website. These live sessions are very popular among users as they usually produce very good results and are completely transparent.
The subscribers get to view the actual trading charts and methods used by a professional trader who trades the market ‘in front’ of them. As a user you will need to observe and copy the trades being taken by the master trader.
In addition to the live streaming there is usually a chat window available where users can communicate with each other and also ask questions to the master trader who is explaining and calling the trades. (see Binary Options Trading Signals)
There are some advantages and disadvantages to this system. One major advantage is that as a signal user of this type you will learn a great deal about binary options trading by listening and watching a professional trader do his magic in front of you. This is also a very cost effective method to educate yourself about trading and the markets. Professional courses of this type would cost thousands!
The subscribers get to view the actual trading charts and methods used by a professional trader who trades the market ‘in front’ of them by streaming hist online trading activity and market commentary.
One of the biggest disadvantages of these type of live signals is that the master trader usually trades at specific times of day, usually when the market is most volatile. As a subscriber you need to commit yourself to these trading times, which some may find inconvenient. On the upside, they only trade live up to two hours a day which will also define your working day.
Copying live signals is usually for binary traders who prefer trading short expiry times such as 1,2,5,15 minutes. A live trading room can be a very exciting experience. More on trading binary options live with a professional trader
Binary signals delivered via a web based platform
These signals differ from the previous two because the professional alerts are automated by trading software which is linked to a web based platform. The trading software may be managed by traders in real time or pre-programmed using indicators and chart analysis. The subscribers need to log in to the web based application which is just like logging into any password protected website to access its content.
When users are logged in they can follow the signals for various assets that are analysed in real-time. The way to read the alerts may differ depending on the provide’s website and its programming and design but the alerts are usually very easy to follow and shown in percentages of trend expectancy. These password protected websites are usually accessible across all devices and embellished with graphical elements and clear layouts.
You get a 24/7 access to binary options signals through a unique web based platform powered by analytical software and/or human traders that analyze the markets and confirm signals.
The signals provided via web based platforms are good for super short term trades such as the 5-30 minutes or longer term trades such as 1-4 hours. Binary signals delivered via a web-based platform are perfect for traders who want a more proactive approach to their trading and enjoy the guidance and easy access to professional alerts.
The biggest advantage of using these type of signal providers is that they usually don’t charge any monthly fees. A very good example is Auto Binary Signals Software which charges a one time fee and has some excellent reviews. As we have seen with most signal companies, they like to charge bi-weekly or monthly fees for their services. This type of service is an exception.
Automated signals – Fully automatic trading
The journey to automated binary options signals services started in 2012 when the first attempts were made to use web-based software extensions which could be added to web browsers to execute trades automatically on binary options platforms.
This technology was able to break the barrier which had hitherto existed in this market, which was on how to create robots for web-based platforms since binary options did not make use of downloadable platforms.
Today, more and more companies are coming up with automated binary options signals services which involve the use of robots which can be attached to the trading accounts of traders on their web-based platforms, see Binary Robot 365 as an example.
Robot trading is nothing new. Traders have been using robots for years now. Binary option robots simply trade for you. Your trading is entirely automated and you don’t have to do anything apart from the initial configuration.
There are also some innovations which have robots attached to conventional Forex platforms, and then signals are transmitted to the web-based binary options platforms by the use of software bridges.
There are some obvious disadvantages of allowing Robots to trade binary options. They only work within set parameters and you need to link your broker account to sync all trades.
Choosing the right binary options signal service
Every trader will try using a signals service in one form or another. Effective and professional signals will always cost money but should be looked at as an investment into your financial success, as well as education. When you set about choosing the best binary options signals service you must consider the following:
Profitability of the signals – Is it worth looking at the numbers?
Obviously profitability is the main reason why most people will subscribe to a professional signals service. But how can you be sure that the numbers of wins being advertised will remain the same when you join a particular service.
The truth is, you can never be 100% sure. Past results do not indicate, nor do they guarantee any future results. Test all signals on a demo first.
If a signal service has historically performed very well (looking at annual history of the service) it is very likely that it will continue to do so in the near future.
However, it might be surprising to find out that some signal providers make fake claims of profitability performances and testimonials from “satisfied” customers. The best thing to do is to test the profitability of the signals yourself on a demo account.
In addition to looking at the profitability of the signals you should also look at other aspects of the service. Find out who the signals are from, where is the company based and how long have they been in the business. This will be one of the best indicator of how good their signals really are. You’d be also wise to look at any trial period and money-back guarantees being offered.
Trial period for signal subscribers
When it comes to binary options signals, one of the most important and unfortunately often unused offers is the trial period.
There are only a handful of providers that offer a trial period. It’s not the industry standard, so don’t be very surprised if it’s not offered. In our experience best signal providers don’t offer any trials but if they do they’re only for 7-14 days.
A trial period allows the potential subscriber to evaluate the signals service and check their overall performance.
If a trial period is available, and you’re interested in the signal service than you should use the trial to the full effect. Test everything that can be tested. This is the only way to get some idea of what you will be getting once you commit to the service and start paying for it.
When you sign up for a trial in most situations you will be asked for your credit card details and as soon as your trial period is finished you will be charged the first service fee. Often times you won’t be warned of your trial expiry and following payments will be taken automatically from your debit or credit card.
Method of signals delivery
The method by which signals are delivered is quite important as it dictates how and when you will be trading.
If the signals are sent via emails and mobile twenty four hours and seven days per week you can expect to receive signals at any time. All providers recommend to trade as soon as the signal is sent. Needless to say, with email and mobile delivery you might miss many signals and good trading opportunities due to not being able to follow them 24/7. However, thanks to today’s technology where you can trade using an average mobile phone with a 3G connection, signals sent to email and mobile are very popular.
Understanding signal delivery is quite important as it will dictate HOW and WHEN you will be trading.
Of course you don’t have to worry about not being able to trade on all signals when you subscribe to a fully automated robot. However, these signals providers usually work with selected brokers and offer their services only via their affiliated broker/s, which may be quite limiting. Remember that it is always best to trade with a regulated broker.
Then there are services that deliver the signals online via a live broadcast. This is most likely the most exciting type of signal delivery. You can really submerge yourself into the world of trading and experience financial technical analysis first hand. You get to see the charts and hear the trader explain his strategy and comment the markets. It can be quite an intense trading session but it will only last up to 2 hours and you’re done with signals and trading for the day. This type of signal delivery is very professional but it requires commitment at very specific times of day which some users may find inconvenient.
Signal service guarantees
Everyone likes offers that include guarantees. After all we all like to have assurances before we start using a service, any service, but especially a subscription based service.
Ccontrary to what some people may think, a guarantee offered by a signalling service does not offer any returns on your losses incurred during trading on the subscribed signals. It is only a guarantee on the signals, meaning that you can only claim your money back for the costs of the signal service, not your trading losses.
With signal guarantees you can only claim your money back for the costs of the signal service, not your trading losses.
Not many signal providers offer a full money-back guarantee but those who do are worth checking out on a demo first. That way even if you incur losses in your trading they won’t be real losses and, in addition, you will be able to claim your money back from the signals’ provider.
Few final words and suggestions
When you find a good signals service and you’re happy with their service and signal delivery, don’t just assume that all will be well and that you will live happily thereafter. The internet is replete with examples of binary options signal providers who started off well and eventually fell by the wayside.
The truth about this is very clear: past performance is not an indication of future results. So do not always assume that a signals provider will be all good through and through just because it achieved amazing results last month.
Continually evaluate the accuracy of the signals and monitor your trading account to ensure you are you’re getting the best service possible.
You should continually evaluate the accuracy of the signals as well as monitor your account to ensure you are in fact getting the best of services. Keeping in mind that even the best of signal providers can have a bad month, don’t be discouraged when your service performs 2% worse then expected. However, when there is a significant drop of 15-25% in the advertised accuracy than we suggest looking at another service. Some people like to try a number of different services to see which one performs best and then commit to it. Since some signal providers offer trial periods it’s really cheap (if not free) to get quick access and test the signals.
Remember that the safest way to trade binary options is to use a regulated broker and subscribe to a known binary option signals service that has produced good results in the whole year, not just a single month.
The best binary options signals provider of 2015/2016/2017
It’s very difficult to say which signal providers is the best because what works for some may not necessarily work for others. There are many variables that one needs to consider as mentioned above. Looking at the numbers and positive reviews of other users there are a few signal services that are quite reputable, you can compare binary signals here. However, the one service that stands out the most is still the BOTS service delivered via a trading session with a professional trader in a live broadcast. It’s hard to beat a service where you actually get to trade together with a binary options trader using his strategies. However, it must be mentioned that this particular service will require a two hour commitment at specific time of day.
Best learning & trading program
BOTS – Binary Options Trading Signals
This live service has been tested thoroughly by many users and it is one of the best signal services currently available for Binary Options. You can use the live trading sessions to learn and trade alongside a professional trader, with commentary and open chatroom. The signals’ accuracy is very high.
Tip! Test all signals on a demo account, trade only with a regulated broker, and learn as much as possible. Education is key to success.
References and recommended reading
- Evidence-based technical analysis: applying the scientific method and statistical inference to trading signals (Aronson, David – Vol. 274. John Wiley & Sons, 2011)
- Forex analysis and money management (K Maciejczyk, X Hu, adv. H. Hakim – Worcester Polytechnic Institute, 2012)
- Centralized electronic currency trading exchange (Myr, David – U.S. Patent Application 10/867,729, filed June 16, 2004)
- System and Method for Distributing Trade Signals (McLean, Marc – U.S. Patent Application 12/169,979, filed July 9, 2008)