Different types of Binary options signals Service
If you are reading this post you probably already know that binary options signals are one of the best way of making money online. But trading signals is a general term and there are different types of such binary indications. As the time goes by, and due to changing in traders preferences and institutes regulations, new products are invented all the time. In the following post I’d like to cover the 3 main ones to help you get over the confusion. Each one of the following binary options signals services hold it’s own cons and pros. I’m not here to tell you which one you should choose. But to provide you with the knowledge of telling the difference between them and find the best investing instrument for you.
1. Fully automated trading software – this type of binary options signals became very popular among people who wish to invest money in the binary currency market. It’s a perfect solution for many. The high quality systems has the potential of generating hundred of dollars a day. In addition, there is no need for any prior knowledge. Anyone can use it from wherever and with a push of a bottom letting the auto trader make the decisions on his behalf. Its especially attractive for newbies or clients who wish to participate in a highly rewarding market but lack the time to deal with it. The are also downsides for binary options signals which are automated.
First of all we can’t ignore the worrying phenomenon of scam auto traders. Many new so called software are actually money making scheme which take advantage of the good reputation and success of legit robots. They claim to offer all kind of winning systems while in practice their purpose is to take people’s money. You should be careful from these scams. Find objective binary options signals reviews such as the ones we have on whizzoptions and choose wisely after being informed. Another disadvantage is the fact the some auto trader software don’t adjust themselves properly to changes in the financial environment. Even though some of them claim they know how to read economic events and react to market volatility, it’s not completely precise.
To maximize result you should have at least a basic understanding of fundamental analysis. Having said that, I must mention that the leading automated signal software can generate great results over time. You just need to pick the right one. Two of the recent most popular you want to check are the Lexington Code Auto Trader and the SnapCash Binary.
2. Semi Automated binary options signals – The second type of trading service I want to talk about is the semi automated signals. There is no much difference as of the trading platform in compare to auto trading software. However the one change is quite significant and may extremely affect the results. The algorithm detect potential trades after analyzing the market. Then, in oppose to fully automatic programs, it doesn’t execute them right away in your platform. What it does, is letting you choose whether you want to follow the suggested trading signal skip it.
Most traders prefer this kind of binary options signals as it give them sense of control. When you use half automatic software you have the opportunity to verify the quality of trade yourself. You can compare it with your own analysis or with other services. You can also monitor the economic calendar and decide if it’s the right time for binary trading. Once you decide to go for it and apply the suggestion you can simply confirm the indication and open the order right away. That, without the need to login to your broker account and enter the transaction details.
One of the better services which offer semi auto binary trading is Binabot. In their new version they give you live high quality signals on your dashboard. You can then choose if you want to use them or not. Most of the time they are extremely accurate and people record outstanding result with this system. However it’s still leaves room for flexibility and adjustments when you trade in their platform.
3. Standard Trading Signals – The third type is the regular binary options signals. It does not trade automatically and it doesn’t allow you one touch trades. What it does is providing you with general ideas and indications for trading opportunities. It is not necessarily connected to a specific broker which you are assigned to in order to receive the service. So unlike auto traders and semi automatic systems you are free to work with whichever broker you prefer. Then you can use the binary options signals service on your favorite platform and even get signal indications from different sources.
Such services are free and you can easily find many of them on the web. Test them and see which one you’d like to work with. Usually experienced traders use standard signals in order to get additional idea, and confirmations for their own methods. When a new trading signal is provided you open your chosen platform and enter in the order details including the currency pair, price, amount and expiration. Therefore it’s less recommended fro new inexperienced traders but for more savvy ones.
Binary Options Signals – Bottom Line
Today there are plenty of new investing tools and binary options signals are very popular for traders of all levels. As mentioned above in this post there 3 main ones and each one of them has its own advantages as well as downsides. If you are a new trader you should use one of the first two ones. Probably the semi-automated can get you the ultimate results once you learn how to use properly the economic calendar and some other basic elements.
The standard binary trading signals can also serve you if you are a newbie who’s experiencing the market on practice account before committing a real account and investment. It’s also good for more advanced traders who’d like to receive another perspective before making decisions, and combine it with their own analysis and strategies. Whatever you choose, strive to stay on the safe side. Try different signal services and see which one match best your needs. Please feel free to use our site to contact or comment with any questions and matter. We’ll always do our best to help you succeed and this is our ultimate goal.