Trading signals can be a good way to start trading Binary Options as the technical data gathering is all done for you, all you have to do after receiving a signal is decide whether you are going to take the trade or not, meaning you have control over your account, unlike trading with a robot.
Some signal providers will charge a yearly fee with a free trial period, others will supply signals for free after you have deposited into an account of their nominated broker/s and a few will supply free signals no strings attached, the choice is yours, but which ever you decide please review and trade the signals on a demo account first.
Signals can be received either by text, email or directly onto your trading platform or a combination of all three, making it easy to trade from no matter where you are as long as you have an internet connection.
There are some very good signal providers in this industry with success rates of 75% – 85% In The Money ( ITM ), and there are a lot of signal providers who claim to have success rates better than this but I tend to stay away from anyone claiming above 90% ITM as they are usually proven to be scammers. I still currently subscribe to “ Binary Scam Alerts ” to see what new scams are being released and it seems that there is a new scam every week, so check things out thoroughly before purchasing or depositing.
In the past I have used ” The Binary Profit Method ” and ” Neo 2 ” signal providers and found them to be very good, 75% – 82% ITM over the time I used them, and still use them occasionally if for some reason my strategies are not working.
” Neo 2 ” also has an auto trading function ( Robot ) but I only traded this manually.
Trading Robots as they are known, are a software that someone has developed with an algorithm that will pick up on possible trades and enter that trade for you. It will do so without emotion, and will trade to the parameters you set. As mentioned above in the Trading Signals, there are a few good robots on the market but there are a lot of scams as well so ensure you review them first before depositing.
To purchase a robot is a long the same lines as the trading signals, purchase outright, free use with deposit into brokers account etc.
Once your Robot ( Auto Trader ) is installed onto your trading platform and it has been activated by you it will trade indiscriminately according to its algorithm and will continue to do so until you turn it off, so keep an eye on it.
As mentioned earlier I lost an entire account $250 to a scam robot within 24 hours so I am weary of them and have not traded with one since. This was my very first Binary options trading account, although the robot was rubbish I deposited more money with the broker and learnt to trade on my own with the help of a signal provider, as they were and still are a good broker.