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Binary Options Signals – Is it a Scam or Will I be a Millionaire?
Introduction to Binary Options Trading Signals, and is it a Scam?
Binary Option trading have gained a lot of popularity since its introduction to the finance industry. Each passing day has seen many traders who are eager to involve themselves in this profitable method of investment. Traditional Forex trading has become less attractive, primarily due to its complexity and the many bureaucratic procedures that are involved. In case you haven’t heard about Binary Options before, I strongly recommend visiting our articles section for more information. In fact, before even reading this article about Binary Options signals.
Smart traders are now engaging themselves in Binary Options trading due to the many benefits they can derive from it. The huge interest in Binary Option is mainly due to the high return rates that Binary Option trading offers coupled with the fact that it requires only a small level of investment. The increase in trading has, in turn, caused diversification of the market supply and rapid expansion of the Binary Options trading industry. The expansion of Binary Option trading has brought forth many online brokers to assist any trader involved in Binary Options. Although the number of participants in Binary Option trading has increased, it has yet to achieve its maximum potential. As the Binary Options trading industry grows, the competition between brokers for new trading clients will increase and this will ultimately benefit the traders. Here comes the binary options signal providers.
What are Binary Options Signals?
In Binary Options, trading signals refer to suggestions made by Binary Options experts or automated robots specializing in Binary Options trading. Therefore, trading signals are trade recommendations made by analysts after their assessment of the market and the identification of certain opportunities. Trading signals are more likely to expire in the money as traders who suggest them have years of experience in the Binary Options trading field. Therefore, with trading signals you can achieve an increase in the overall return on investment. While using trading signals you must take into consideration certain factors in order to make the signal work.
One of these factors is time. A Binary Option trade needs to be placed at the right time; immediately after receiving the signal from your signal provider. After all, a good signal has no value if it is executed later because market conditions can change very rapidly and that might invalidate a signal. This is quite important in the Binary Options trading field as a Binary Option usually expires within a very short period. Therefore, traders have to be very fast in buying the right options.
Trading signals are relatively easy to use in Binary Options compared to Forex trading. This is mainly due to the simplified nature of the Binary Option market. Analysis of the market is easier and Binary Options only have to follow the traders’ signals to maximize their chances of making profits.
Example of a Typical Binary Options Signal
Asset: EUR/USD = 1.300
The trade: Binary Call Option
Expiry time: End of the day
When: on a daily close above 1.300
Complete list of Binary Options Signals Providers
Are Binary Options Trading Signals a Scam?
Overall, good signals could in fact provide great opportunities for new and advanced traders. The problem is; it can be an opportunity, but it is also a risk. There are indeed good signal providers, but many crooks are offering fake trading signals. Very much like the Binary Options brokers in earlier days, the business of signals remains a risk for traders today. I truly hope we’ll see more legitimate signal providers in the near future. Just as the Binary Options brokers are moving forward toward regulation, the signal provider industry will become better and more reliable. If I was a newbie, I wouldn’t pay more than 60 to 80 dollars a month for such signals. Also, I wouldn’t rely solely on these signals. I would first practice strategies, learn my game, use good judgment and turn to forums and professional sources for advice.
Why Binary Options Signals Don’t Suck in 50 (or more) Words
There are some reasons why Binary Options signals and service providers don’t suck. Mainly because they are a valuable resource for Binary Options traders. We at BOTS.com feel strongly on the subject of trader education and that each and every one of you should learn to trade for yourself. This does not necessarily mean that a signal service provider (SSP) is not a good thing. It really depends on which kind of service you choose. Simply choosing a robot or other form of automated service to place trades for you is not enough. You cannot blindly follow what some algorithm tells you and hope to be profitable in the long term. If, however, you choose an SSP that follows a strategy, provides signals that you have to act on yourself, and teaches you to trade, we are talking about a horse of a different color. The right SSP’s can be very valuable tools for new and intermediate traders. They are a way to get into the market and gain some experience.
My Last Thoughts On Binary Options Signals And Signal Service Providers
Signals and signal service providers fall into two categories; those that suck and those that don’t suck. And just because the type of SSP you choose may fall into the general category of not sucking doesn’t mean that it doesn’t suck. You have to be careful with signals and understand them for what they are. Some are tips, actionable advice that you can follow through on if you so desire. These tips are a great way to find possible trading opportunities that you might otherwise miss. Other types of SSP’s are automated services aimed at taking the risk out of trading. They claim that by automatically following their trades you can make profits. These types of signals are not so great. You should never blindly follow any tip, signal or service. If you need someone to trade for you then you don’t need to be trading binary or any kind option.
Binary Options Trading Signals Providers
There are several Binary options trading signals available in the market. Most perform this service online therefore you can access their services from the comfort of your home. Some will provide you trading signals in exchange of a monthly subscription fee for this service. After choosing the most suitable Binary Options Broker for you, only then you can start looking for your right signals provider.
Monthly subscription fees often range around 30 to 200 dollars (in accordance with the number and the quality of signals given by the suppliers). This is indeed a small price to pay to increase your returns on your investments. However, the trading signals are not completely foolproof; they don’t always guarantee returns on Binary Option trading. According to analysis by various experts, it came out that the trading signals could increase your level of returns by up to 60%.
To be on the safe side, check on their past trading signals achievements to determine how accurate the providers are at predicting Binary Option market trends. Professional Trading signals providers strive to provide only accurate signals in order to maintain their customer loyalty. Some Binary Options signal providers have become more prominent and reliable than others and choosing the right one is of paramount importance. The best Binary Options trading signals providers are specialized in offering only the best of free and extra signals. The signals they offer are great at giving amateur traders a chance at profiting immediately from Binary Options trading. Since the field of Binary Options signals is quite fresh, one must be aware of Binary Options signals scams. Binary Options that Suck will continue to monitor and recommend only the trusted Binary Options signal providers available.
Good Binary Options signals providers have an excellent profit rate and this is a demonstration of how accurate their trading signals are. Several binary trading signal services are offered on the market. Few of them are given free of charge and the remaining percentage is delivered to traders who have subscribed to their service. Subscribing to their service is the best way to guarantee that you will receive the best trading signals they have to offer.
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