Best Binary Options Signals Provider List (Free & Paid) - Binoption
Binary Options signals are a major requirement for traders to take trading decisions. The signal industry is large and booming one.
There are countless signal providers out there, so it becomes really difficult as a trader to make a choice. For newbie traders, this task can be quite intimidating, but these trading signals are beneficial for them.
Trader’s dependency on binary signals is also high. It is because these trading signals can transform an average trader to a great one.
For those looking to make money without the arduous task of mastering, trading can avail these signal services. You have to keep in mind that every binary trading signal is unique in its way.
The signals that you use must correspond with your trading strategy. If you have started getting worried and confused regarding what the best binary options signals are and which ones are profitable, we can assure you.
Our signals section will provide you with the most reliable and best binary options signal providers. Here, we will have free binary signals as well as paid ones. You will know the pros and cons of each product in our reviews.
We will also cover the basics of trading signals. Moreover, you will learn why binary trading signals are required and how to use them.
Without further ado, let’s begin with the definition of trading signals.
Binary Options Signals List & Comparison
What Are Trading Signals?- Binary Signals
To explain in simple terms, signals are trading order/recommendation/suggestion that provides certain trading information. They can either be provided by a trading analyst or it can be generated automatically.
These signal providers perform all the required technical, fundamental, economic analysis, and find the most suitable asset to trade at a certain time. At the same time, they do all the necessary hard work to execute a profitable trade.
Their team consists of trading analysts and experts who have years of trading experience under their belt.
Along with the signals, some of the better signals provides also trading tips and in-depth analysis as to why a certain trade is to be performed. All of this saves a lot of time and effort of traders, who can trade confidently and quickly using these signals.
The information that is contained in a signal includes:
- When to enter a trade and when to exit.
- Trade duration
- What asset to trade and in what price point.
- Stop loss and take profit values
- Other risk management indicators.
At a time, you may receive multiple signals depending on the market conditions.
So, the question is that is there any differences between binary options signals and trading signals?
Yes, there is a little difference between these two terms. Trading signals only indicates all signals of different trading types. Binary signals are nothing but signals which are generated for binary options trading.
You can trade binary options on a wide range of trading instruments including Forex, Crypto, CFDs, Indices, Stocks, etc.
In binary trading, you have to guess whether the price of an asset will go up or down, within the expiry time. The price point, where you place your trade is known as the strike price.
On the other hand, the trade duration in binary options lasts anywhere from a minute to one month. As you can see, with this variety in trading assets and limited time-frames, it becomes difficult to make a choice.
So your first challenge is to choose a trading asset. Most trading platforms offer hundreds of trading assets nowadays. Hence, it becomes quite difficult to select your preferred asset.
Next, you have to open your position by either buying a put option or selling a call option. You cannot simply guess binary options trading. Winning a trade involves careful planning and analysis.
You have to perform all sorts of analysis, which is time-consuming. Binary Options signal providers aim to ease out this process by eliminating all these tasks for you.
All you have to do is follow the signal and execute your trade according to it.
Whether you win a trade or not, it depends on the success rate of that signal provider. However, you are not obliged to follow the signal.
If you believe that a particular signal may not be profitable for you or if you feel you can come up with a better strategy, then you can feel to do so.
Let’s look at the different types of binary signal providers.
Types Of Binary Options Signals
You can classify signal providers based on automation and cost.
Based on automation, there are two types of signal providers:
- Manual Binary Options Signals
- Automated Binary Options Signals
Manual Binary Options Signals:
Manual signals are provided by humans. They are usually trading experts who constantly monitor the market and look out for openings.
Mainly, experts carry out technical and fundamental analysis and follow the market closely for spotting entry and exit points. Then they backtest the signal before sending it to their clients.
Remember, when you use manual signals, you are depending on the trading skills and experience of your signal provider.
Automated Binary Options Signals:
Automated signals are generated from mathematical algorithms and formulas which are based upon the market behaviour. These trading signals come in the form of automated software.
Those who want to get profit with the help of automated binary robots can use these signals. The software makes its decision whether it is a good time to enter into the trading market or not. Based on that decision, traders buy or sell trading assets.
Automated trading signals are far quicker than human analysis. Human emotions are also eliminated when it comes to these signal providers.
Whether you prefer a real human using his trading expertise to provide you signals or an automated system, your main goal is to earn profits from the investment.
On the basis of cost, there are two types of trading signals available:
- Free Signals
- Paid Signals
After hearing the term “FREE SIGNALS”, you can at least understand that this signal will cost no money.
One common misconception about free binary options signals is that as they are free, they are not as accurate as paid signals. It may be true in some cases, but generally, this idea is wrong.
Binary Options free signal providers also work hard to analyze the market and provide you with accurate signals.
Paid signals are more common than free binary options trading signals software. Here, the signal provider will send you trading signals in exchange for a fee. They whether have a monthly or yearly subscription fee for these signals.
The paid signals can be provided by an individual trader, a signal system, or through signal software. The frequency of the signals depends from provider to provider.
How Do Trading Signals Get Formed?
Signals can be made by using two types of analysis tools- Fundamental and Technical Analysis.
Algorithm trading uses some binary options trading indicator and Binary options trading strategy as computers understand those easily. There are some popular technical Indicator used by both traders and algorithmic trading, such as:
- Stochastic Oscillator
- RSI- Relative Strength Index
- MACD- Moving Average Convergence Divergence
Traders can use those by themselves, after achieving mastery in binary options trading market analysis.
However, Signals can help traders as well as, who they are know how to trade well in binary options trading, even expanding their list by increasing the whole number of trades trader can place. Traders can only analyse some opportunities by himself and signals can do the rest of the task for him.
Example Of A Binary Options Signals
In this section, we will show you a sample trading signal order. Keep in mind that not all trading signals are the same. Some contain certain information that other signals don’t.
Here’s an example.
Suppose you are going to open a binary trade for EUR/USD. This is how a sample signal would look like:
Price: Market-Next 5 min
Expiry: 17:00 GMT
Signal Time: 2019-06-07 16:15:14
Let’s explain this signal.
You are given a signal order to call at a certain price. Moreover, you need to consider the expiry time. In Binary Options, the expiry time is essential for traders. Within the given time duration, you have to perform the trade.
Like previously mentioned, not all signals are designed this way.
Some signals come along with trading advice and the reason. The reason will show you, why you should buy or sell that particular asset.
Moreover, there might be supporting graphs and explanations of the trade and more.
How Effective Are Free Binary Options Signals?
Earlier we discussed free signals under the types of signals. There is an ongoing debate on the effectiveness of free trading signals.
Some believe that free signals are just a waste of time and not worth following. No expert trader would give out signals that are profitable for free. While others believe, free trading signals are just as effective as the paid ones.
So who’s right? What is the reality behind them?
The answer is both the above beliefs are accurate. Free trading signals can be both profitable and ineffective as well. Sometimes, signal providers provide free binary options signals on a test/trial basis. This can be provided in the form of free binary options signals software or just simply as signals.
After a few sample signals, you have to subscribe to their service for premium signals. There are also signal providers who only provide free signals daily.
We would recommend beginners to use a paid signal provider instead of binary options free signals. Expert traders can analyze, compare, and evaluate between these free signals and combine to get the best use out of it.
But for newbie traders, it would be better for them to stick to a reliable subscription-based signal provider. From our signal comparison list, you will find reliable signal providers.
Let’s consider the case of binary trading signals that are available free of cost. There are no trials. They are always free no matter the duration. In the case of these signals, you have to realize that quality comes at a price and premium.
So generally, paid signals tend to perform better than free counterparts. Even though there is no anecdotal evidence to prove so.
In the case of free signals, you can test signals with the help of a demo account.
There are no risks involved when it comes to trading on a demo account. So, if the free signals provide you with the results you desire, you can continue using them.
However, it would be our recommendation to switch to a reliable signal provider. From our comparison table, you can choose any one that fits your requirements.
How To Choose The Best Binary Options Signals Providers?
So far we have seen what binary trading signals are, what their types are, and what a signal might look like.
Now, we’ll see what factors you should consider to choose the best signal providers.
Legitimacy is the most important factor when it comes to considering a signal provider. Due to their profitable and attractive nature, they are quite high in demand.
And as a result, there are hundreds or thousands of signal providers available. Not all of these providers are legit. The ones claiming absurd results are usually the most suspecting.
In our extensive testing, only a few signal providers have come out successfully. In our best binary options signal providers list, you will find the best performing signal providers that are beginner-friendly and profitable.
A good binary signal provider will display its past performance history to its traders. It is crucial because history is a direct indicator of performance.
You can see what assets have been traded, the trade positions, and the results. Proof of claim is the best way to convince traders that your service is reliable.
You can calculate the success rate which brings us to our next point.
Many consider the win rate to be the most important factor when it comes to choosing a signal provider. You have to keep in mind that even the most successful binary options traders have a win-rate of only 50-60%.
That means they win every other trade. Some automated trading systems have a better win rate than this The win rate remains more than 70%.
We would recommend you to solely not focus on this one factor but consider it. A higher win rate will attract traders, and they will follow it confidently.
Only choose those signal providers, that been providing service consistently for many years. The scam signal providers don’t last very long in the market.
You will find unbiased reviews on the signals in our site. It is better to spend some time to research on signal provider rather than choosing a faulty one. Because you will have to regret it later.
In this age of the internet, it is really simple to check the performance and track record of a signal provider.
A good binary options signal provider will provide you with a trial period where you can test their product. The trial period can last from 7 days to a month. In that trial period, you can extensively test its performance and see if it performs up to your standard.
Make sure the trial product and the real product are the same. If the signal provider has a software, ask for a demo version before purchasing the real one.
Signal Providing Source:
This is not as important as other factors but it still matters when choosing a signal provider.
Normally they provide signals through emails, SMS, or through any other medium. There are live binary options signals as well. In this case, you will be trading along with your signal provider.
You should get signals in your preferred method along with some kind of notification. So that you don’t miss out on the chance.
The task of a signal provider isn’t just limited to providing accurate time signals. They must also provide support for the service that they provide.
New traders may not understand certain aspects of trading and may require additional assistance. The support team must be responsive in solving any issue of their subscribers.
Quality VS Quantity:
A common mistake committed by traders is falling for those signal providers that promise hundreds of signals per day.
Have you taken the time to find out how many of those signals end up being profitable?
It is better to rely on a signal service that provides only tested, working signals, even if they are few per day. Always choose quality over quantity. Don’t focus on the quantity of the signals.
Can You Make Money With Binary Trading Signals?
After all these discussions, what matters at the end of the day if it will be profitable to the average trader who uses them?
The short answer is yes. You can make money with binary signal providers. However, it depends on the signal provider as well as you.
The first hurdle is to choose your signal provider. But your journey doesn’t end there. Remember that the choice to follow the signal is yours.
Unless you are a complete beginner with no knowledge about trading, you should spend some time analyzing the trade that you are about to perform.
Don’t blindly copy a trade. Try to understand the reasoning behind every action. There are alternatives to signal providers such as copy trading and social trading.
Lastly, the aim of all these trading systems is the same. To make trading easier and accessible to everyone. So at the end of the day, it doesn’t matter what trading system you choose.
However, if binary signal trading is your preference, then follow this guide as well as read all our signal reviews. Once you are comfortable trading on your own, you can try our reputed brokers like IQ Option, Olymp Trade, Binomo etc.
For any issues regarding the trading signals, feel free to contact us. We will try to assist all your needs.