What is a Binary Options Signal provider?
One of the most exciting concepts developed in the trading industry is the Binary Options Signal trading. Using the binary options signals, traders have the prospect of making use of certain technology and software to make correct predictions.
The main concept of binary options signal trading takes root from forex. Traders in forex had the access to this method for quite a long time before the providers came in to picture. This method is also referred to as mirror trading in the forex world. It is where traders will have one of the following-
- The possibility to copy or mirror the actions being performed by others.
- Use a software to help them get an analysis of charts.
Using the signals
These signals are developed by companies that are called as binary options signal providers. Different providers build their own applications to make certain analysis of fluctuations in the assets.
We take a look at the top Binary Options Signal Providers which area as the following-
One of the most popular services amongst traders is the Binary Options Trading Signals service or BOTS as it is referred to. The thing that separates this service from the others is that while many services receive short instructions through email or SMS, the signals on BOTS come through the web browser during the course of a live web session. The service is very mobile and can be accessed through a desktop and/or a cellular device. The daily sessions enable all the traders in a virtual trading room through the eyes of a real professional trader and they can mirror his actions while placing bets.
The UpDown Signals is a service provider that provides algorithms-based signals to the subscribers which can be sued in the market. It is quick and reliable and is a must have for those traders who do not want to sit and spend time analyzing market trends and charts before making a move. The UpDown Signals trade alert service has more than 70 assets in its library. The signals are sent to the user via SMS on their respective phones. It’s double whammy for smartphone users who can carry on the trade from their phones through the platform of UpDown signals.
Owned and operated by Platinum Trading Partners LLC, Binary Options Pro Signals enables subscribers to trade the Call/Put trade type on their platforms. Binary Options Pro Signals or BOPS makes use of trading algorithms to create the signals that need to be sent to the trades. These algorithms are based on the trade opportunities detected by the algorithms embedded in the platform. The signals can be used for 7 days by the traders.
BOPS covers a total of 14 assets ranging from currencies, stocks and stock indices. The USP of BOPS is that it enables traders to earn from various trading opportunities happening in London and New York. The assets covered by BOPS are-
- JP Morgan Chase
- Dow Jones
- S&P 500
Read More: 5 Best Binary Options Brokers to trade with
Binary Options Pro Signals is preferred and rated amongst the top Binary Options Signal provider owing to certain following facts
- They make a clause for a money back guarantee scheme for users who are not satisfied with the product.
- There is a provision to enable new users to learn how to use the signals service and put them into practice while trading.
- A members’ area is created that dishes out information for the trader.
- There is no change in the subscription fee .
- An associate service helps earning up to 50% of the cost of the service by promotion the trade alerts service of BOPS.
Cracking the Code
Cracking the Code is a binary options signal app that detects different trends and patterns through analysis of different assets fed in the platform. If the pattern is detected the software itself executes trades in the account of the broker.
Like various other signal services offering Binary Options Signals, Cracking the Code also makes use of algorithms that predicts asset movement through the pre-set trends and patterns. The trends and patterns enable the brokers to make their move. Cracking the Code alerts the broker if the trends are forming due to which the broker can make their move to earn money. It also does automatic trading on the behalf of a broker.
Apart from these there are various other signal providers. Before finalizing the signal provider the reviews should be carefully read. It is there where the actual idea is given out about the service and whether it is worth it or not.