Binary options signals services have been on the rise as the popularity of binary options trading continues to grow.
However, considering the amount of information available, trying to make sense can be hard and complicated.
Especially for those South African traders, who have only ventured into trading binaries.
Because of that, we will provide traders with information on how accurate are signal services and how to select the best possible signal service provider.
Binary Options Signal Services
Before we tackle the question of how accurate are signal services, a simple definition of what are signal services is in order.
Binary options signal services are simply alerts that are used to track binary options contracts. They are generated a thorough analysis of the underlying assets that will be traded.
The primary function of the binary trading alerts is to properly and thoroughly study the underlying asset and determine in which direction the price might move – upwards or downwards.
Having analysed and studied this data, the signal services provider then relays this information to those requiring this type of data.
This information is usually transmitted via email, SMS or through the trading platform itself.
There is a wide variety of binary options brokers, and some of these brokers have platforms that also generate trading signals.
Another principle of generating binary options signals is to use experts in the fields of finance and trading. They also inspect the market and use fundamental and technical analysis as well as other tools to try and predict how the market will behave and, accordingly, what will happen with the price.
Lastly, more and more signal providers are actually all-in-one package where South African traders can actually get generated binary options signals via a complex algorithm which will then also carry out the trade for them based on the info contained in the signal.
This manner of trading binary options is becoming exceedingly popular both on the South African market as well as globally.
This way of trading binaries is known as automated trading or semi automatic trading.
In the first instance, the trading software will carry out the trades in traders’ behalf based on the settings traders selected.
With semi automatic trading software, the trade will be carried out only when the trade is approved by the trader.
Both these options save traders’ time since with standard signal services traders still have to carry out the trade manually upon receiving the binary options trading signal.
However, the question still lingers; how accurate are signal services?
How Accurate Are Signal Services?
The accuracy of these signal services has been questioned by many traders, both beginners and experienced ones.
One of the important segments in how accurate are signal services is the speed with which it delivers binary options signals. The timely delivery of binary options trading signals means that traders will be able to carry out the right trade at the appropriate time.
The timing of a trade is essential and it can mean the difference between profit or loss. And that tips the scales more in favour of binary options signals created by trading algorithms.
In the first place because these sophisticated software are incredibly fast. They can scan the market quickly, using numerous tools such as charts, indicators, candlestick formations and well as rules for risk management.
Another benefit of using binary signals generated by algorithms is the fact that the human element and, accordingly, the possibility of human error are reduced.
Yet, even the most accurate signal services cannot guarantee a 100% success rate.
All financial trading is exposed to risk and possibility of loss is always present. The South African traders have to be aware of it and make their decision based on those facts.
How to Select Signal Services?
When trying to select signal services and researching how accurate are signal services, South African traders can try to follow several simple pieces of advice.
Firstly, traders should always try and find signal services which are free. This is easily achieved by opting to use a signal provider or, as they are also known, binary robots which both analyse the market and generate signals as well as carry out the trades on traders’ behalf.
Additionally, opting to use binary robots which do not require download is also preferable. South African traders are advised to opt for binary signal provider which will not trade on their behalf if the
How accurate are signal services is also dependent on binary options brokers which either offer signal services or are connected with binary robots who generate them. Traders should always opt to use brokers which are well-established and respected.
South African traders should also develop a critical attitude and stay away from signal services which promise unrealistic results such as 100% profits. This is not attainable as every trade holds a risk.
Further, it is also advisable to frequent websites such as this one where traders can get valuable information concerning binary options signal services and check their reputation.
Lastly, selecting a signal service which has quality customer support service. This is important as traders need to have the opportunity to communicate and ask any questions regarding the whole process.
Additionally, should any problems arise, they also need to be able to contact customer support to ask for help and assistance.
We advise South African traders to look into these signal providers as they have the best reputation on the market – Binary Options Robot, Daweda Exchange ATS and Fintech Limited.
All these signal providers or binary robots generate binary signals using sophisticated algorithms which scan the market. Accordingly, they also have a fantastic range of trading tools and features which increase the chance of a profitable binary options trading journey.