Binary Options Trading Signals Providers 2016. – Legit or Scam?
We’ve conducted several hundred surveys of users of forex and binary options trading signals providers over the years. One thing has always stood out:
… nearly 8 in 10 traders feel more comfortable trusting their money with Forex or Binary Options signals providers as opposed to trading it themselves, i.e. making their own investment decisions.
The most common reasons are:
- Lack of proper trading experience,
- Emotional instability,
- The belief that “pro” systems always outperform retail traders. Therefore, it makes sense to pay for access to their systems instead of trading by one’s self.
..to name a few.
Are these “fears” justified?
What exactly makes traders believe Forex and Binary Options trading signals providers don’t have the same problems? They too are human beings after all no?
Well.. it’s all about the “branding”.
Most Forex and Binary Options trading signals providers out there are run by one or two individuals. They are not run by rigorously tested automated forex and binary options trading systems.
Why we say “branding” is because these services that are run by one or two traders. Usually with very little trading experience of their own – they engage more in mass marketing campaigns to make themselves appear to be “professional traders”.
To them, that’s where the money is (it’s not in their trading).
You’ll see video after video made by these types, cluttered with images of luxury yachts, beach resorts and screenshots of their “one trade that gave them financial freedom” and now they’re “giving back to the trading community”.
You’ll attend their webinars or live events and sit through long boring sermons that have everything to do with “personal development” and nothing to do with trading for most of the sermons’ duration.
That sound familiar too? ..bet it does! 🙂
When it comes time to deliver results, their trading from the past 6 months of you paying them subscription fees, doesn’t quite match their “trading record” prior to your signing up.
So if most forex and binary options signals providers are prone to making the same mistakes other traders are, what exactly is the solution?
Traders still want a solution in the form of a signal provider to copy trades off of, because on their own they’re prone to demo trade for extended periods of time for fear of real losses on the market if they trade live.
Solution – Choose a signal provider that is either:
- Serving a 100% automated, rigorously tested trading system via email signals or trade copier
- Or providing access to the very trading strategies that their automated systems are built upon.
Like we do (shameless plug) 🙂
This video demonstrates why it is crucial to have quality automated forex or binary options trading indicators:
“Going automated” solves these most common problems that were outlined above:
- The forex or binary options trading system is automated, and has only been provided for public use after rigorous testing and an established track record.
- It’s an automated system – so there’s no question of emotional instability (there’s no emotion involved <insert boring over-used cliche here>)
- It has a track record, and therefore it’s definitely a lot more trustworthy than snake oil salesmen peddling their “secret” trading systems that lead to yachts, beaches and other nonsense.
So next time you consider choosing different forex or binary options signals providers, make sure what you choose is automated, or provide indicators or signal generating expert advisors.
Furthermore, if your signals provider recommends a forex or binary options broker, make sure they have testimonials from real traders actively using the recommendations, e.g. these independently certified binary international reviews.