Binary trading signals, essential for binary options trading, offer actionable insights from seasoned traders, expert analysts, or automated bots. These recommendations, derived from meticulous market analysis, prompt timely trade executions to capitalize on fleeting opportunities.
Success hinges on factors like success rate, analysis depth, cost, and additional benefits. Amidst legitimate providers, scam signals pose a risk, necessitating thorough research. However, reputable signals can significantly boost profitability and success rates, aiding novice traders and seasoned professionals alike.
Top 7 Best Binary Options Signal Providers:
In this article, we will let you know all the necessary information about each provider.
List of the 7 Best Binary Trading Signal Providers
1. Pocket Option Signals
Launched in 2017, Pocket Option is now available on YouTube. A collaboration of existing traders and fintech funds, Pocket Option remains a non-regulated binary options brokerage that offers trading across 150 assets.
Pocket Option is a very user-friendly web-based platform available in 14+ languages. It gives traders access to forex currency pairs, stocks, commodities, indices, and crypto.
It’s proving a hit with traders because the technicals (UX and signals) and customer service are good.
Although non-regulated, the brokerage offers attractive bonus programs, and an analysis of its trading signals shows that it generally provides quality tips without fuzzy edges.
A very enabling platform that provides both the signals and software for binary traders to succeed, Pocket Option also allows for copy/social trading.
- User-friendly
- Quality indicators & signals
- Substantial asset options
- MT5 trading
- Good customer service
- Minimum deposit $10
- Minimum withdrawal $10
- Some benefits only with subscription
Read our full article about Pocket Option Signals here.
(Risk warning: Your capital can be at risk)
2. Deriv Signals
Deriv is an international brokerage with 2 million+ clients that has been in operation for over 20 years. In addition to several platforms for trading various instruments, they offer a special bot function that allows you to create your personalized trading strategy for options.
Good copy trading results are available based on extensive reviews from a loyal user base. However, newbies might find themselves stuck in copy trading forever. Materials are neither substantial nor well structured.
With only a bot chat available for online support, traders who wish to benefit from their platform and signals will have to do their own homework elsewhere and only trade on Deriv with the understanding that support is limited.
- Seasoned user-friendliness
- Quality signals
- MT4/cTrader+
- Multiple deposit and withdrawal avenues
- Substantial asset options
- Minimum deposit $0-$10
- Regulated brokerage
- Limited library for newbies
- Bottleneck to customer support (chat bot only)
- Unavailable in some countries
Read our full article about Deriv Signals here.
(Risk warning: Your capital can be at risk)
3. Quotex Signals
Quotex is a fairly new binary options broker only a few years behind. That said, online reviews are good to great, and you can trade on the platform on a desktop or via dedicated Quotex apps for Android and iOS.
Quotex is currently a non-regulated binary options brokerage, but it employs secure legacy payment options and is making a strong pitch for legitimacy among traders.
Although Quotex appears to have a relatively limited trader menu compared to longer-established online brokers, this is growing. Existing clients include many successful traders, and their trust rating is high.
- User-friendly with attractive bonuses
- Quality signals, indicators, and copy trading
- Minimum deposit $10
- Relatively fast and completely free withdrawals
- Comparatively limited asset options
- No leveraged trading
Read our full article about Quotex Signals here.
(Risk warning: Your capital can be at risk)
4. IQCent Signals
Founded in 2017 and online since 2020, IQcent offers traders smart, in-built technical analysis tools. The broker also offers individual, standalone trading, and copy trading.
IQCent also has a mobile app; over 100 trading instruments are available for trade. The brokerage’s library will aid newbies and support existing traders, and bonus offers are frequently updated.
IQCent’s fundamental and technical analysis tools are on par and tie into the quality of the signals they provide. Copy trading is available to traders if desired and ready-made binary trading bots from BinBotPro for passive trading.
- User-friendly
- Free deposit and crytpo withdrawals
- Quality signals, indicators, and copy trading
- Minimum deposit $20
- Web trading & mobile app
- No MT platform
(Risk warning: Your capital can be at risk)
5. VideForex Signals
Founded in 2016, VideForex offers traders a fair range of instruments and a modest library of educational resources. However, it’s not the platform for newbies to learn and earn.
The platform is pitching for legitimacy (although registered offshore) by strictly sticking to standard market practices and wholesale transparency when handling deposits and withdrawals.
VideForex is also one of the brokers where traders can find ready-made BinBotPro bots designed for binary options trading.
- User-friendly with trading bots
- Fair asset range
- Swift deposit & withdrawals
- Web & mobile
- Great signals & copy
- Dearth of educational resources
- Support only with registration
- Unregulated (although managed by a private legal concern)
- Minimum deposit $250
(Risk warning: Your capital can be at risk)
6. BinBotPro Signals
The real home of ready-made binary options trading bots, BinBotPro robots must be accessed via one of their partner brokers－Binarycent, Videforex, IQCent, or RaceOption－as BinBotPro are developers, not brokers. This enables algorithmic trading, but traders can also trade standalone or socially using the bots.
Not a great choice for beginners, BinBotPro’s market approach is bedeviled by negative reviews (withdrawals can be variably frustrating between brokerages).
It really an option for technically minded traders who enjoy fiddling with a robotic approach to the markets; signals are better sought elsewhere by newcomers to trading.
When accessing BinBotPro, traders can select from ready-made robots through the “Robot Demo” mode and evaluate the performances of the top 10 robots. The bots’ profitability varies in real-time, and they are constantly being updated.
- User-friendly trading bots
- Minimal personal verification
- Wide range of algorithmic trading bots
- Free to use bot choice
- Non-regulated broker/developer
- Minimum deposit $250
- Dearth of educational resources
(Risk warning: Your capital can be at risk)
7. RaceOption Signals
Raceoption is a forex and binary options broker with mixed trading facilities. One of the BinBotPro outlets offers conventional standalone or copy trading.
Traders can copy the trades of pro brokers, and the brokerage runs a referral bonus and other bonus programs, as well as hosting weekly trading competitions that can earn traders some income.
Founded in 2017, RaceOption traders can trade 24/7, and support is good, featuring live video chat.
- User-friendly with trading bots
- Web and mobile, with trader competitions
- Easy account opening with good customer support
- Algorithmic & copy trading
- Quality signals & analytical tools
- No demo accounts without a deposit
- 5% commission on VISA money transfers
(Risk warning: Your capital can be at risk)
What Are Binary Trading Signals in Detail?
Although binary option strategies are comparatively simple when looking at trading and investing overall, signals become all-important when entering a trade.
Trading signals are really suggestions from pro traders and other expert analysts or automated bots about viable upcoming trades. Regardless of whether signals are man-made or automated, they are essentially imminent trading recommendations issued after market analysis of potential opportunities.
Signals from traders with years of experience in the world’s marketplaces typically expire ‘in the money’ more often than not.
That said, a binary options trade has to be executed almost immediately upon receiving a signal, as even slightly dated signals can mean that market conditions have changed and they are now worthless.
How To Find the Best Binary Options Signals
- Look at a signal provider’s success rate (normally given as a percentage), as this is a strong indicator of value (how many of their signals bring home the money?)
- The number of signals issued and their frequency is also a strong factor when trying to determine which signal provider is best
- Look for details of the analysis that led to the signal (how much supporting evidence is there that this is a viable and legitimate trading opportunity?)
- Cost/price considerations (signals vary from completely free to quite expensive, but their cost meshes with a host of other variables, the most important being their success rate)
- Signal providers offering free trials are usually trustworthy, as this will allow you to determine their value for yourself without financial commitment
- Signal providers that compel you to open accounts at particular brokerages should be avoided
- Many signal providers come with additional benefits like educational resources, which increase their value to traders.
What are the Pros and Cons of Binary Trading Signals?
Using trading signals has pros and cons, although most retail traders find that the advantages outweigh the potential downsides.
| Pros | Cons |
| Binary signals, by and large, add to a trader’s understanding of the market and enable better-informed decisions | Signals are not guaranteed to be accurate, and it’s disheartening to lose after diligently following signals |
| Profitability increases for traders who take signals, as well as their overall success rate | Binary signals, by and large, add to a trader’s understanding of the market and enable better-informed decisions |
| Binary signals also aid newcomers to the markets, allowing for guidance while learning the ropes | Signals become addictive, and many new traders are no more proficient years down the line as they’ve not learned to trade in any real sense |
Be Aware of Scam Binary Signals
Options that are traded OTC are traded between private parties, and there is often no regulation involved and certainly no clearinghouse. This unavoidably heightens risk (much like buying a watch on a street corner instead of from a jewelry store).
You also need to be aware that with online presentations, appearances can be grand while the reality is completely fake. The binary options trading arena, specifically the signals provision sector, has been very attractive to scam artists who try to milk newcomers (and a few seasoned traders) out of their money before popping up elsewhere rebranded. Be aware!
Smart traders will look for reviews on any signal provider and other hallmarks of legitimate service before making a purchase.
Are All Binary Options Signals a Scam?
- Not at all. OTC options are driven, at least in part, by the fact that exchange-traded options often fail to meet advanced traders’ hedging requirements.
- Flexible terms (strike price, expiration date) also encourage OTC binary trade, and the phenomenon wouldn’t exist if it was merely a giant con without benefits for traders.
- When employing a signals provider, the onus rests with the trader to do enough homework to establish the provider’s legitimacy and carefully analyze the signals’ value in their own trading.
How to Use Free Binary Options Signals
The consensus is that Pocket Option’s signals are mostly solid and worthwhile. Pocket Option sends out free daily forex signals for EUR/USD, GBP/JPY, EUR/JPY, USD/JPY, GBP/USD, AUD/USD, GOLD, NIKKEI, DOW indices, and OIL.
New trading signals from Pocket Options are constantly generated in real-time throughout the day and across various markets as signals arise.
Each signal from Pocket Option gives a trader a recommendation for a specific asset rather than being bundled across assets.
Signals vs. Copy Trading
Both signal-taking and copy trading give traders access to others’ expertise, allow them to expand and diversify their trading portfolio and understanding of the markets, and also save time.
That said, there are some important differences to consider between signal trading and copy trading:
| Signal trading | Copy trading | |
| Personal discretion as to whether enter a trade | yes | no |
| Platform preferences | yes | yes |
| Details of analysis | sometimes | no |
| Personal discretion on money management | yes | no |
| Reporting | sometimes | yes |
5 Points on Why Should You Use Binary Trading Signals
- Better information around decisions to enter a trade (accuracy and profitability)
- Time saved, as signals normally come with the set-up, as well as eliminating the need for detailed research (not to be confused with doing no research!)－efficiency
- Signals help new traders feel their way into a legitimate understanding of the markets and also correct established traders whose strategies are getting out of whack
- Signals take the edge off the new arenas traders will eventually want to wade into, lessening the learning curve (diversification)
- Signals help pull profitability out of a seemingly fragmented trading history over the medium to long term. For most retail traders, there is a direct correlation between using signals and annual profitability.
Conclusion: Binary Trading Signals Can Be Helpful
Depending on a trader’s strategies, binary trading signals can be extremely useful, even essential. If buying signals results in profitability, there’s no reason to rock that boat.
Even seasoned traders can learn from trading signals over time, as they help identify maverick personal patterns (successful or not) and keep traders within consensus reality (where the profit is most likely to be).
Very few traders wouldn’t benefit from a signal subscription, and signals are generally a positive contributor to the trading sector. Every trader must thoroughly research a tipping service before parting with money, and online reviews can be very helpful here.
Most Asked Questions:
Who is the best signals provider?
That’s a question like “how long is a piece of string”, as traders are very diverse, and there’s a lot of them. Your personal enjoyment and success rate with any particular provider makes that a good signal service. Shortlist the options, then pick one. You can always sample others slowly as you progress.
How do signals tie into binary option trading strategy?
Binary option strategy is quick. That’s it in a nutshell. Because binary options are a simplified CFD, and because binary trades are typically very quick in-and-out movements, for most traders strategy comes in deciding which instruments to trade and how to interpret analysis. Signals then become the strategy for many, as they do the homework, anticipate the signal, and take it as corroboration when it appears.
Why are binary options so easy, but with so many bitter reviews?
Binary bites both ways. Binary options are simplified and thus easy to understand, and they’re quick, so you should be able to make $1000 over lunch, right? You could, but you could also lose $1000 over lunch. The very limited time frame and very limited options (you’re either right or completely wrong) also mean that binary can be a short route to having no money for reckless traders. Binary demands no less research, discipline, and understanding than any other trading sector, whether using bots or not.
How do I start trading binary options using signals?
Small. That’s the way to start. Preferably with a demo account at a reputable brokerage. You and everyone else will lose some trades, perhaps many, to begin with, signals or not. That’s just binary. Indeed, that’s just speculative trading, period. Remember, if binary was as easy as 1-2-3, no one would bother getting a job, and everyone would be a millionaire! Start small, be disciplined, take good signals, and allow yourself a year or two to really get to know markets and trading, and eventually you might just become that millionaire.
