Binary Copier is a signals service that hopes to simplify your trading life. There are a lot of products out on the market when it comes to helping you be a better binary options trader. Some of them are worth using, and others will only prove to be a loss of money. Whenever we come […]
If you are new to trading binary options or Forex, the seemingly endless amount of choices that you need to make can be overwhelming. Which broker is best? Should I use a signals service? Which one? What about automated trading, is it worth doing? These questions all go through the new trader’s mind, and frankly, it can be hard to even get started when there are so many questions that you are pondering.
So what do you do?
To help sift through all of the questions that you have, we’ve put together a large number of product reviews for you. Some Forex brokers are great for traders in Europe, while others are better for those in South Africa. Some things binary options traders based out of the United States cannot use, while other products can be used. If you’re just starting out as a binary options trader, or even if you have questions regarding a product that you’re considering transferring over to, this is the place for you.
We have a large number of broker reviews here, along with several other products that you might be wondering about. If you’re unsure of whether something can help you as a trader or not, this is a great place to begin your journey.
If you want to trade binary options or Forex, your first stop should be a strong broker. There are a lot of different factors that need to be considered when choosing the right broker, and you need to keep in mind that what’s a great broker for some traders might not be a great one for others. Here, we go over the things that you should expect out of a broker, and the things that separate a great broker from a good one. We can’t pinpoint the perfect broker for you—that’s something that only you and your own knowledge of yourself, your experience, and your needs can determine. But what we can do is give you all of the information in one spot so that you can make an informed decision with more ease.
Some of the things you should be on the lookout for include:
- Which geographic areas the broker allows
- Rates of return
- Reliability and legality
- Customer service
- Which underlying assets are carried
- Types of trades offered
If you find a broker that meets all of your criteria, you know that you’ve found a good one.
Also, remember that even though there’s a lot of overlap between binary options traders and Forex traders, these two types of trading are very different things. Forex trading is a far more established field than binary options currently are, and brokers will inevitably reflect this. However, if you want to be profitable, choosing a strong and helpful broker is the first step, regardless of the type of trading that you will be doing.
A signals service tends to be a third party that either points you toward good trades, or makes trades for you on an automated basis. In the field of binary options, there are a lot of products that have emerged in this category, and many have already disappeared thanks to the fact that this is such a new part of binary options trading. Much like a broker, we can’t tell you if one service is better than another, unless it appears to be a scam. But we can tell you what each service that we’ve reviewed does, and give you all of the information that you’ll need to make a smart choice.
Here are a few of the factors to consider when choosing a signals service:
- How are signals delivered?
- Is the service compatible with MetaTrader (if Forex-based)
- Are trades made automatically?
- Is the service reputable?
- Is the service profitable?
- What is the cost of using the service?
- What type of underlying asset does the service specialize in?
- How long has the service been active?
Of course, these are just a few of the bigger questions that should be considered. Signals services can be quite complex, and each one will likely evoke a question or two that you wouldn’t ask or even think of asking for another service. They need to be considered on a case by case basis, so reading over reviews is a good way to know what to expect from the service before you bump it forward to the next level of consideration.
Hopefully, this brief guide will help you find exactly what you’re looking for, or at least give you the tools to make a smart decision.