When the binary option industry started back in 2011, the only signals traders used where Forex or Stock Market related signals. Now there are many vendors selling signals specifically for the binary options. There are signal providers who will send SMS or email alerts to their subscribers, and there are auto trading signal providers. Auto trading signal providers basically are an algorithm attached to your binary option brokerage account and the signal system places trades on your behalf. This can be extremely risky and dangerous.
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Binary Option Brokers Offering Signals
The most popular broker for signal traders is GOptions. They created an auto trading signal generator called Signal Index, see here. They are unique in that the trader can choose which trader to follow. There are many systems to choose from and traders can see the historical trading performance of the various traders. The system is free once you register at GOptions. Read a more details review here.
OptionBit is a broker that created a signal software called AlgoBit. Watch the Algobit Video Here. Algobit is a signal generation tool that is integrated with OptionBit’s platform for you to create your own signal generator. OptionBit uses the Tradologic trading platform.
Stand Alone Signal Providers
Binary Option Pro Signals – This signal provider has a very nice looking website, much different from the others, see here. They are a signal provider that charges $14 for the first 2 weeks and then $97 a month, read more.
Are Binary Option Trading Signals Legit?
That is very difficult to determine. One signal providers writes this disclaimer on their site; “SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING”. What they are saying is that their results are completely bogus and made up! You have other providers who advertise their trading results by only selecting the winning trades and not showing the losing trades. Then there are brokers who send ten or twenty alerts a day and it is up to the trader to pick which signal they should trade upon. This leaves the traders again picking his trades, just with influence from a signal service. Professional traders have used squawk boxes for many years, but a squawk box is basically a traders news service, not a signal provider. There are many traders who post their trade alerts on StockTwits.
Read more about trading signals you received in your email here.