South African traders who are looking to boost their chances of making a profit in trading binary options are most likely looking at various signal services available.
The concept of binary signal services is making trades based on someone else’s advice and decision which can be used to benefit the trades and, accordingly, the potential profits.
One of the first questions traders ask is how much to signal services cost?
The answer to that question is not a fixed price since there are plenty of signal providers on the market.
Generally speaking, binary signal services, a form of investment strategy, can vary a greatly deal in cost.
Cost of Binary Trading Signals
There are two general formats to purchase signal services. The first is by subscription and the second is fees based on performance. Both formats have their advantages and disadvantages.
Subscription services are particularly popular in Forex and the Futures market. Fees are charged at various times and can be monthly, quarterly or annually. Generally, the services are provided after traders subscribe to the service.
The second is performance based fees. These are fees that are charged as a percentage of the profits earned. Hence, no profit – no fee.
However, it would also be indicative that if a large profit is made, the performance fee would rise. That is why if South Africans choose to pursue the performance-based fee signals option, it would be important to read carefully and understand what percentage would be charged on the profits made.
Is it a standard percentage fee on whatever profit is made or does the percentage charged increase with the amount of profit?
Also, is there a cap to the amount of percentage that can be charged?
The cost of binary options signals service can range from $90.00 per month to several hundred dollars. Many companies may offer a trial period for you to evaluate their services which can be a good starting point for South African traders looking to use signal services. This trial may last from a few days to a week.
The signals services cost may also depend upon how much traders trade. If traders do not trade often, it may cost prohibitive. However, we do advise all interested South Africans should conduct their own research.
By researching the company offering the signals service, finding out how accurate their information is and how much do signal services cost, traders will have a much clearer picture.
Additionally, there are some signal services that allow traders to observe the trader making live trades. This could be a great educational opportunity so that there is an underlying understanding of when trades are made, what decisions are being based upon and what the trader considers as important.
When choosing to participate in signals service for binary options, it is important to continue researching personal trades and find a service that compliments the overall trading philosophy that an individual trader has.
On the other hand, nowadays South African traders as well as those around the world have another option which makes the question of how much do signal services cost obsolete. That is because more and more binary signal services are offered free of charge.
At a first glance this might seem too good to be true, but with free binary option signals traders get the whole package – signal services cost free in combination with an automated binary robot which will carry out the trade on behalf of the traders.
One of the most popular free automated signal provider on the market is Binary Options Robot, proclaimed the best binary robot of 2016.
The guiding principle of Binary Options Robot and similar binary signal providers, is that they function based on sophisticated algorithms which scan, scrutinise and gather information about the current market conditions.
Based on the gathered information, they generate the binary signals carrying information which trade stands the best chance of being successful given the available information.
Considering the advanced technology available today, more and more traders are willing to put their trust into complex algorithms which gather and analyse the information on which signal generating is based. While there is no such thing as no risk, auto trading or semi automatic binary trading is logic based and the “human error” issue is decreased.
However, even when it comes to sophisticated binary robots which provide signal services cost free, South African traders still have to do research as there are other important elements involved. Thankfully, plenty of broker and binary robot such as tradingbinaryoptions.co.za exist which provide helpful information.
What we suggest interested South African traders do when they start their search for a signal provider and how much do signal services cost is to opt for a free one.
The logic behind it is simple but sound. Since binary options industry is moving more toward auto trading and semi automatic trading which provide signal services free of cost there is no point in paying extra. Instead, traders simply pay the deposit without the additional costs. The minimum deposits are usually set around $250.
Further, no matter which signal provider or binary robot traders select, it is wise to stay away from those which promise 100% returns. That is neither realistic nor attainable as there are always risks involved.
Another important factor is binary brokers supported by a specific signal provider or binary robot. Aiming to use binary robots and signal providers which are connected with well-established binary options brokers are the best way to proceed.
Part of the reason why Binary Options Robot comes so highly recommend is the fact that traders have to be online and that they have to accept or decline the generated signal before the trading software carries the trade on their behalf. Both these segments provide traders with the ultimate control as nothing can happen without their knowledge.
This also provides them with the opportunity to manage their portfolio with more efficiency which may eventually lead to high profits.
Another important segment is the quality of customer support service which plays a huge role no matter how much do signal services cost. Selecting a signal provider or binary robot with a support service which is available, friendly and helpful can mean a great deal.
Lastly, no matter what signal service South African traders select, being aware of the risks involved and doing the proper research are essential.