There is an old saying “you get what you pay for”. This is very much the case when looking at binary options signals. I am not trying to say that a more expensive signal is always better than a cheaper one. This is far from always the case. What is true however is that you can not expect to get free binary option signals with the same quality as the signals paid signal providers offer. If you are going to trade with binary options and risk real money than I recommend that you find and pay for the best signal you can find. A free signal can come with a very high price if you lose money while trading with the signals they provide.
I am not saying that all free binary options signals are bad. That is not the case at all. There are however many free signals out there that I wouldn’t use myself because the signal quality is too low. One reason for this is that a free signal don’t have the same motivation to provide good signals as a paid provider. A company that is dependent on their monthly income from subscribers will work harder to provide good signals than a provider that gives them away for free and have very little to lose if a client stops subscribing to their signal.
Evaluate a free signal provider through paper trading
If you want to try a free signal provider then I recommend that you always use them exclusively for paper trades for the first month or two. To use them for paper trade means that you do not really invest any money. Instead you take careful notes of all the transactions as if you had completed them and check what outcome you would have seen if you had traded with real money. After a month (or any other period) you sum up the result of all your paper transactions to see if you would have made money if you made the trades for real or not. If the provider would have made you money than the quality of their signal is good and you can start trading on it. If you would have lost money you know not to use them without having actually lost any real money.
It can feel hard to see that you would have made X amount if you had made the trades for real but you didn’t. This is however the wrong way to look at it. You should instead be really happy that you found a free signal service that can help you make money. Most wont and you will often save money by doing paper trades to test a free binary options signal provider out before you trade using real money.
It is best to allow for at least two months of paper trading before you star trading with real money. If you are very eager to start trading you can do so if the signal provider shows a stable and positive result after one month. If you chose to do this then you should be aware that one month can be too short a time to see the true value of the signal.
Free trial periods allow you to try signals for free
A good alternative to free binary options signals are paid signal that offer a free (or very cheap) trial period. This allows you to try a paid product for a certain amount of time without having to pay for it. Usually 7 or 14 days.
During this time you can use the signal to make real or paper trades. If you end up making money you can then chose to continue paying for the signal. A signal is more than worth paying for if you make money when you trade on the signals the service provide you with.
It is a bargain to pay USD99 a month for a signal service if you earn USD1000 (500 or even 300) trading on the signal you receive. You should never be afraid to spend money if you spend it on things that earn you more money than they cost.
It is worth taking advantage of the free trial period of different signal providers even if you already have a signal provider that you are happy with. If the new signal provider offer you different signals that also make you money than it is worth subscribing to more than one binary options signal. If you trade on more high quality signals each month then you will be able to make more money. To not be afraid to do a large number of trades each day if you are able to keep a high success rate. If you have a high success rate then you will earn more money the more trades you do.
Money back if your not happy
An alternative to free binary option signals and free trails periods is to sign up to services that have a 30 or 60 day money back guarantee if you are not happy with the service. You will need to pay for these services to be able to get access to the signals. How much you have to pay depends on the price of the service and will usually be between USD100 – 250 a month. Your total cost if you want to use a 60 day money back guarantee will therefor be USD 200 – 500 if you to take full advantage of the guarantee. If you decide that you are unhappy with their service within the money back period then you will get this money back.
If you trade according to the signals you receive and earn more money than the cost of the signal then it is stupid to ask for your money back. Doing this will get you a couple of hundred back but this is nothing compared to the money you can earn if you keep using the signal.
If you trade according to the signals you receive and lose money then you should cancel the service and get your money back. The same is true if you earned less than the signals cost. In this case the signal offer you no value and it is a bad idea to continue paying for it. The best thing to do in this situation is to get your money back and star looking for a better signal.
The price of a signal is completely irrelevant when you are looking at different signal providers. It does not matter if you are looking at a free binary options signal or a signal that cost USD250 a month. In both cases you should completely ignore the price. You should instead look at the value that the signal provides you with. The value it provides is the only thing that decides whether or not a signal is worth the price the provider charges on not.
The value of a signal is how much money it can make for you. A signal that cost 250 a month but allows you to earn 750 dollar a month is worth more than a free signal that earns you 200 dollars a month. The expensive signal is worth USD 500 (750 – price 250) while the free signal is only worth 200 (200 – price 0). If your choice is between these two signals than you should always choose the one that cost USD250. It does not matter that it is more expensive. It earns you more money and will improve your finances more than the free signal.
I would therefore like to ask everyone to ignore the part of them that would like to find a free signal and instead start looking for the signal that offers you the highest value. You wallet will thank you before you know it.