To be successful in binary options trading, you need to accurately and consistently predict the way the price of an underlying asset will move by a specified time. The traditional way of doing this is to practice fundamental or technical analysis, or a combination of both, on the asset you wish to trade. However, this can take a lot of time, which many traders do not have, so an alternative is often sought.
Obtaining Binary Options Trading Alerts
One alternative that is growing in popularity and availability is the use of binary options signals. Organizations that provide them will undertake all the necessary research on certain underlying assets and will then provide alerts to member traders, advising them on the way the price of the asset is expected to move. The trader can then act on that advice and, by trading in the indicated direction, should have a greater chance of finishing in the money.
Although binary options trading has been around for a number of years, it is still a relatively new method of trading when compared to other forms such as foreign exchange and futures trading. Consequently, the availability of information is not yet as great as in some forms of trading and binary options signals are made available to fill a perceived gap.
A requirement of successful binary options trading is that the trader reacts quickly to the information provided by analysis in order to not miss the indicated movement. It follows, therefore, that binary options trading signals have to be made promptly after the analysis has been carried out so that the trader does not miss the opportunity. The situation has been helped by technology since the availability of smart phones and similar mobile devices means that traders can generally be contacted at any time and can take the necessary action.
Many organizations offering binary options signals now provide alerts by either email or SMS, both of which can be received on a mobile device. Moreover, those same devices can be used to actually make the trade, meaning there is no need for the trader to separately use a PC to access their trading account.
Some organizations even use software that provides a direct link to the trader’s account so that the trade can be made automatically in line with the recommendation given by the signal. This does, of course, require a certain amount of trust in the organization providing the binary options signal and most traders would not want to do this until the system is proved to be a success.
Binary Options Signals Providers
Binary options trading signals are still a relatively new development and consequently there are currently not a large number of providers. Some that offer the service are:
Pro Binary Options Signals works with several brokers on an affiliate basis and has various promotional offers with each one. Alerts are sent by email or SMS and accuracy is promised to be 80%. There’s an initial one week reduced rate offer and monthly subscriptions after that.
Binary Options Stock Signals operates through approved binary options brokers and provides seven daily stock alerts by email or that are accessible in the members’ area, with a three alert bonus for those taking up the offer immediately. There’s a seven day reduced rate trial followed by a monthly fee that is fixed for the duration of membership.
Binary Options Signals.com, which offers signals at a set monthly rate that can be reduced if you sign up for a three month contract. For this, around 8-10 signals a month are received by email. Payment is by Paypal although you may use a credit card linked to your Paypal account.
Binary Options Exposed provides the service under the brand name Assassin FXS and also accepts subscriptions payments by Paypal. Various levels of service are provided, with a VIP signals service categorized into platinum, gold, silver and bronze accounts.
Consider Alternative Providers
Using binary options trading signals can be a great way of improving your trading performance, particularly if you don’t have the time to undertake the necessary analysis. However, providers naturally don’t divulge their strategies and so there has to be a certain level of trust in the service they give. Some will also provide these signals in different ways, have varying levels of charges and may give additional support and advice. It’s important, therefore, that you examine the alternatives carefully and make your choice after a thorough assessment.
When providers offer a free trial, it’s worth taking that up so you can gain valuable experience of what is being offered. Even if you don’t trade on the binary options signals given initially, check how the trades would have gone in order to determine the reliability of the service.