Let me ask you a question –
What would you do if someone …or something …gave you advice on what assets to trade and when …and …they proved to be a credible source of information?
Would you just ignore it …or …would you get off your butt and make the trade?
You’d make the trade, right? Right.
(Everyone else – just leave. There’s something clearly wrong with you.)
Well, good news – this tool exits. It’s called a signal provider.
A signal provider is merely a prediction on what trades are profitable to make sent directly by email, SMS or voicemail. You’ll be told what asset to trade, the type of trade to make, the expiry date, time and price.
From there it’ll be up to you to make the trade.
Why Use Signals?
Well, they don’t guarantee a profit, I’ll tell you that much. If you’re expecting these to make you a millionaire, I would just pass – go ahead and close the browser, too.
But, for more realistic traders, there are reasons to try signals providers. Some do lead to making more money.
For example, what if you wanted to find and strike a trend while it’s hot?
Well, you’d sit around and analyze patterns and markets all day. And you might be lucky to find 5 to 10 options. Maybe.
But signals do the lifting for you. They give you the chance to get off and away from your computer, so you can spend your time doing something more profitable …or enjoyable.
On a similar note signals will help you spot opportunities which have small windows to take advantage of. All you have to do is make the trade as soon as you get the message.
What’s more is you can have the info sent directly to your phone. This allows you to make profitable trades from anywhere you get internet access. No longer do you have to be anchored to your computer …or …even your office or house.
Sounds good, right?
Again these are a magic, money making program. You won’t sign up to the program today and become Scrooge McDuck tomorrow.
But signals can help spot opportunities you might otherwise miss, and they’ll give you some extra freedom to boot.
Signal Providers, Perks & Warnings
Let’s start with the signal providers. Here are some links to reviews of the most reputable companies we know of.
Bear in mind many brokers will provide signals, too, often for free or as a perk of one of their upgraded accounts.
However, signal programs are only as good as the provider. Meaning, you wouldn’t want to sign up to receive alerts from someone like me, a newbie trader. I’d end up owing you money.
But someone with 20 years trading experience? Yeah, advice from them would be more profitable.
So, you’ll want to do your homework, read our reviews and maybe even try a few programs for free before you cough up $100 for the subscription.
(Yes, you read that right. Most of these are monthly subscriptions.)
These are some of the perks you can expect when you sign up:
- Free alerts
- Notifications by email, text message, voicemail or SMS
- So many signals per day
- Watch live streams of charting systems in HD and full audio
- Mobile compatible
- Can get free access (for a limited time) through a broker
- Free trials
- Signals in real time
- Setup automatic trades with a budget
Another thing to keep in mind – each provider is not the same. Meaning:
- They won’t all send the same number of signals.
- They all have different win-rates.
- They don’t all cover the same number of assets or follow the same number of markets.
- They don’t all send notifications for the same types of trades – long term, short term, etc.
- They’re not all compatible with the same brokers.
Again, one way or another doesn’t necessarily speak of the quality of the provider. It’s just another reason why it pays to do your homework.
Summary – Are Binary Options Trading Signals Worthwhile?
So, what do you do?
Here are my thoughts:
If you’re a beginner – just pass. Chances are you won’t benefit from the advice or have the experience to know which trades to make and which ones to avoid. Remember – they’re not all right just because they have a 70 or 80 whatever percent win-rate.
Another thing – this is expensive. Most programs hover around the $100 per month mark. That needs to be factored into earnings. If you’re barely turning a profit now, this might not be the best investment.
These tools are better for intermediate and advanced traders who might want to scale or maybe automate things some.