Many people earn extra cash through binary options trading. However, without the right tools, inexperienced traders can stand to lose far more than they anticipated. For anyone interested in making the most of binary trading, signals provide an authoritative resource for quality advice.
Traders of all experience levels can better understand the course of the market by paying attention to signals and using signals services.
Though many higher-level binary options broker accounts come with the benefit of an account manager, signal providers may have a more calculated and readily available approach, using software and algorithms to provide actionable insights for brokers.
Signal services do the hard work that would require a person to stare at a computer screen for days. Signal services can detect—and advise on—even the smallest changes in market trends and accurately direct traders toward new assets.
Table of Contents
- 1 The Best Binary Options Signals of 2020
- 2 Types of Binary Options Signals
- 3 Factors to Consider When Choosing A Binary Options Signal Provider
The Best Binary Options Signals of 2020
Binary Options Pro Signals
Binary Options Pro Signals (BOPS) is a subscription service that offers automated trading alerts sent to you in real-time via email or SMS. BOPS uses sophisticated trading algorithms and advanced indicators to accurately predict short-term market direction. With this provider, you'll receive up to 18 trading signals per day, which is more than most signal services.
When you subscribe to Binary Options Pro Signals, you'll instantly start receiving trade alerts based on 14 different assets that BOPS monitors. These assets include stocks, indices, and currencies. The signals will include ASSET, entry price, market direction (call or put), and the expiry time. After receiving the trade alert, all you have to do is login to your preferred broker account and place the trade.
The win rate for these signals is an impressive 71.20%, which is above average for the industry. If you want to test-drive this service, you can take advantage of their free 7-day trial. After the trial period, subscriptions cost $97 per month. If you're looking for a reliable signal provider and an impressive win rate, you can't go wrong with Binary Options Pro Signals.
Binary Options Trading Signals (BOTS)
With over 15 years of proven trading experience, Binary Options Trading Signals (BOTS) is one of the top-ranked signals services in binary trading. Specializing in Forex and Nadex options, BOTS is an excellent source of automated trading signals.
Offering a free morning trial, BOTS prides itself on providing a unique strategy based on easy-to-read proprietary charts. The service delivers a quality trading education on the different types of trading markets. It also guides users through the most important ins and outs of binary trading.
Like other signals services, BOTS provides real-time signals to traders looking to place profitable trades. However, unlike less-detailed signals services, BOTS explains the "why" component of their signals. BOTS prioritizes traders' understanding, answering user questions on risk management, and the importance of discipline in binary options trading. BOTS has built a trading community based on knowledge-sharing and educational resources.
Auto Binary Signals
Auto Binary Signals is a binary signals provider that has been around since 2013. Rather than sending trade alerts to your smartphone or by email, the signals are available through their web-based membership area.
This means you have to actually login to your members area in order to see the trading signals, which could be a disadvantage for those looking for real-time alerts.
Auto Binary Signals works by automatically filtering through thousands of potential market opportunities in real time. A signal is only generated when there is an 80% chance or higher of winning a trade. The trade alerts are generated using a sophisticated strategy that uses 5 different indicators. A signal is only generated when all 5 indicators are aligned at the same time.
Rather than having a monthly recurring charge like other signals providers, Auto Binary Signals provides access to their signal software for a one-time payment. This software tracks all major currency pairs, commodities, and a few stocks. Auto Binary Signals provides two different types of option ranges: short-term (1-5 minutes) and long-term (15 minutes to 1 hour).
Overall, this signal provider has its pros and cons. It's win rate appears to be very high, but the fact that it doesn't send you alerts to your smartphone or email in real-time can lead to missed trading opportunities.
Signals365 is a signals provider that provides over 100 daily signals across 8 major currency pairs including EUR/USD, GBP/USD, USD/JPY, USD/CHF, EUR/GBP, AUD/USD, NZD/USD, and EUR/JPY. These trading alerts are accessible 24/7 through their web-based platform. Each signal includes data such as Asset, Expiry Time, Entry Time, Strikeprice, and Market Direcition.
Unfortunately, Signals365 does not send binary option signals via SMS or email. They can only be viewed in your members area once you login. According to their website, their signals are generated using proprietary technology that predicts trends and price reversals. Their automated trading strategies have gone through extensive backtesting and optimization over the years.
In order to maximize your win-rate and avoid poor market conditions, Signals365 pauses their signals during major economic events, public holidays, and low trading periods.
Signals365 does not charge for their signals. Instead, their service is free, as long as you sign up to one of their preferred brokers.
Types of Binary Options Signals
Basic signals are easy-to-follow notifications communicated to traders directly and in real-time by SMS or email. Basic signals are the most simplistic form of signals and don't necessarily provide the in-depth explanations or charts that other signal types may provide.
Basic signals will advise traders on the direction of trades and suggest whether a trader should “put” or “call” on a trade. Because they’re not as complex as some other signal types, basic signals enable traders to make quick decisions that can often return highly profitable results.
Many signals services will entice new users to their service by offering free binary options advice. While it’s a good way for inexperienced traders to test a service or understand how binary options signals operate, free signals are unlikely to provide profitable advice. Like demo accounts, free signals are a risk-free foray into how trading binary options work without trading real funds before you’re ready.
Working closely with an account manager through a broker provides extensive benefits traders may not find working on their own. However, signals software offers real-time notifications and keeps track of signs a human might accidentally miss.
Using MetaTrader4 (MT4), signals software gives real-time updates and algorithmic advice to traders of all skill and experience levels.
There's no shame in using signals software to stay on top of the best binary options trades of the day; many professionals utilize the software, as well.
Most software currently available can be downloaded directly to your smartphone, tablet, or PC and alerts you of the best trades by text message or email notification.
Factors to Consider When Choosing A Binary Options Signal Provider
Before choosing the best binary options signals service, it's important to investigate the success rate of the provider. Signals services such as Signals 365 and Auto Binary Trader prioritize transparency and publish their daily results to their website. By publishing the good and the bad results, these signal providers maintain trust in their traders.
It’s typical for signals providers to boast 70% or higher success rates, but there is no way to investigate these claims if the provider is not transparent about their results.
Number of Signals and Frequency
Binary options signals aren't worth much if traders don't have access to them. Before choosing a signals service, consider the frequency in which the provider will send signals to you, the hours they operate, and the number of signals they'll send at any given time.
The signals should be frequent and quick, enabling you to make the best trades before the trade window expires. Fully automated signals services will send frequent signals, but they may lack some of the accuracy of signals providers that combine software with human insight.
Binary options signals providers enable traders to make quick decisions that produce highly profitable results. The frequency and number of signals sent can affect profitability. Traders may want to look for services with higher update rates.
Traders also need to take the cost of binary options signals into account. Similar to brokers, signal providers may offer a variety of tiers to their traders. Before committing to a signals service, traders should compare and contrast what each service provides for the price.
Because all binary options trades come with a degree of risk, traders must also factor in the frequency of signals and the success rate of the signal provider and compare these factors with the cost. If the success rate is too low and the updates are not frequent enough, a higher priced service may not be worth as much to traders.
Before choosing your signal provider, it's worth looking into whether or not the service offers a trial before you subscribe. Signal service trials may not yield high profits for traders, but will provide insight into how the service operates, how quickly it alerts traders of changes in trends, and how beneficial the advice may be to the trader's bottom line.
Some signal service providers differ in how they alert traders of important signals. Some binary options signals only deliver signals while a trader is specifically logged on to their app or website. That means the trader could miss important alerts. Other services readily update traders of signals via SMS, email, skype, GroupMe messages, and app-notifications in real-time.
It's crucial to consider the delivery method of notifications when choosing a binary options signal provider. No matter how good the data is, it doesn't mean much if traders can't act quickly on the information.
Robert Wolfe is the founder and chief editor of Impact Investing Collaborative. Robert is an expert trader with over 10 years of experience trading binary options, Forex, and CFDs. He prides himself in providing accurate and in-depth reviews in order to help others find a trading platform that fits their needs. When Robert isn’t actively trading or managing Impact Investing Collaborative, he enjoys spending time with his 3 kids, playing golf, and spending time outdoors.