For traders who find it difficult to predict what will happen next in the market, robots and signal providers are the simple solution that solves all their problems: by paying a small monthly fee, you can get a professional system to tell you what to invest in, thereby activating the auto pilot to trading success. But how do you choose? Learn all in our article How to evaluate Robots & Signal Providers here.
There are so many competitors 0n the market that especially new traders find it difficult to distinguish a good service from a bad one. To some, picking the right signal provider seems as difficult as picking a good investment opportunity with binary options.
To help you make a good decision and make your start with signals and robots a bit easier, we have created a guide, How to evaluate Robots & Signal Providers, that will help you to pick the perfect signal provider for your needs.
Signal providers and robots share a common purpose, but there is one major difference between the two types of services: Both types of services analyze the market to find profitable trading opportunities with binary options, but while signal providers send you an alert about these opportunities via SMS text message and email, robots also execute the signal and invest for you. Find out how to evaluate robots & signal providers now.
With signals, the final decision is always up to you. With robots, however, you can automate your entire trading process. Which type of service is right for you depends on how comfortable you feel with outsourcing the entire investment process to someone else.
For newcomers to the binary option scene, finding a robot or signal provider that they feel comfortable with and that can generate good signals can be overwhelming. To provide you with an easy way to making a good decision, we have create a list with the best signal providers and robots. If you want to shorten your search, you can safely pick any provider from the list below. If you want to perform your own evaluation, consider the points we have listed below the list.
The first and most important step in choosing the right signal provider is making sure that you know what you get. Some signal providers and robots shroud their service in a cloud of mystery, trying to tell you as little as possible about the strategy they use and the assets they provide signals for.
This is unacceptable. While it is understandable that no signal provider and not robot can publish every detail of their service because competitors would steal immediately, as a customer who pays around $100 a month for signals or many hundreds of dollars for a robot, you should have at least a rough idea of what you are getting.
The worst thing you could do is to invest a lot of money into the dark. Of course, you might get lucky, but there is a good chance that you put your money into the hands of a questionable service – a risk that you can’t afford to take.
When you pick a signal provider or a robot, make sure that you know what you get, that you understand the system, and that you feel comfortable with handing your financial future over to this service.
When you choose a signal provider, you choose how to execute the signals and how much money to invest. This leaves your money management in your hands – you choose how much to invest and you make sure that you do not invest so much that a loss in the next trade could ruin you.
With robots, however, you hand your entire trading process over to the robot. That means that the robot will also choose how much to invest on every single trade. To avoid that the robot will ruin you, you need to make sure that the robot employs a trustworthy money management system.
There are a few different ways to do this. In the simplest way, you can choose a robot that lets you decide how much to invest. With such a robot, you would have to check your account balance once a day and adjust your investment per trade accordingly.
Some robots also can take the money management into their own hands. These robots understand how much money you have and whether they have won or lost their last trades and can adjust their investment accordingly.
Make sure to pick a robot that uses a money management system that you are comfortable with.
Scalability defines a system’s ability to work well with small and large bankrolls. Some robots, however, employ a money management system that only suits small or large bank rolls. When choosing a robot make sure that the robot can work equally well with small and large bankrolls, or you will run into problems sooner or later.
Every signal provider and robot only works with a limited number of assets. Make sure that these assets match the selection that your broker offers. If your signal provider or robot uses assets that your broker fails to provider, you might waste half of your signals, thereby greatly reducing your potential profit. In this case, it would be better to choose a different service that matches your broker better.