If you choose to use a binary options signals service, there are some big perks headed your way. That is, as long as you choose a good one. Hopefully this brief guide can get you started in the right direction in this respect.
Pay Now, Profit Later
There are some free signals services out there, but most of these are not worth using. Why would something that’s free not be worthwhile, you might ask. Because even though there’s no cost, you are still paying because you are putting your money at risk. That means that you will have to pay for a quality service. That’s okay, though. The whole point of using a service is to make money, and as long as you can easily make up the cost of your service, then the upfront payment is worth it.
So, how do you know if a service is worth it? You need to research it. If you just blindly choose one, don’t expect to make any money. But, if you put some time in, see what the service claims they can do, and then follow that up with seeing what people are actually saying about it, then your odds of choosing well become much better.
Do keep in mind that anyone can write anything on the internet. Of course the official site is going to say awesome things about the signals service. That’s how they are getting people to spend money on their product. You should start here, but take everything with a grain of salt. It’s how real people actually profit or lose from the service that you want to know. Are these people using the service the way that it’s intended to be used? Are they getting better or worse gains than what’s being claimed? Take these big questions into consideration before making a decision.
Robot, or no Robot?
There are two main types of binary options signals services, robots and alert systems. The alert system is easy enough: you are given a message that you should make a certain trade at a certain time. The robot is a little more complex in the binary options world. Most services now want you to create a separate account that is linked to a binary options robot service. This is unlike Forex robots because not all binary options brokers use a compatible platform, so services in this area tend to want you to create a new account so that they can link you to their platform. This is normal; just make sure that the service is trustworthy. Again, do your research first. You are working with your money, so you don’t want to put it in a place where it will just get taken from you. Be smart and only use a service that others have used and had positive experiences with.
Both of these choices can be very profitable for you. What you choose is entirely up to you and what you think will help you the most. Using the robot is attractive because it allows you to fully automate your trading and then just forget about it until you check in on your settings every once in a while, but an alert system can also be helpful because it allows you to use your discretion on which trades to make and how much to risk per trade. Some people will even use both and trade with two different accounts. It’s completely up to you and your style. As long as you are making a lot of money, it isn’t that important which you choose, just that it’s working for you.