Binary options are a high-risk form of investing that can be very lucrative for those who win and a disaster for those who risk more than they can afford and lose. While a bit more than three-quarters of binary options traders lose money, the other one quarter are often very successful. A successful binary options trader uses software to help them succeed at binary options trading. While one cannot rely entirely on software and succeed at trading with no skills, there is still a use for binary options trading software.
Binary options trading and investing, in general, depends on being able to understand market signals. Whenever market prices are either going to increase or decrease, the market will behave in a certain way that suggests price changes. If one can understand these signals and their likelihood of causing market price changes, one can often succeed at the zero-sum game of binary options trading.
One does not have to spend much or any money to acquire software that helps them succeed at investing. A variety of different free binary options signals software is available to help new and experienced traders understand market signals.
Many binary options trading programs claim that merely doing what their software tells you to is enough that you will win more than you lose. These claims are not likely to be true or at least is not likely to remain true for long. The binary options market is too competitive for a single software program to reliably produce profits for someone who simply does what the software tells them. While a trading program might sometimes truthfully claim that it can beat the market, this is not likely to remain true due to changes in the behavior of the market. This does not, however, mean that a trader cannot use free binary options signals software to make money. It only means that an uneducated trader that attempts to rely solely on software is at risk of losing a lot of money.
An intelligent trader will rely on a mix of practical knowledge and software to succeed at trading binary options. A skilled binary options trader will often use a few different trading programs. Many of these programs are free even though they are good enough for professional traders.
Some of the best examples of free binary options signals software
1) Signals 365
Signals 365 is one of the most popular free binary options signals software programs. It is the tried and true option that many amateur and professional traders use. Normally, signals about which way prices are likely to go are sent to users of the software 24 hours a day. A user can either open a program to view signals or choose to receive these signals by e-mail. Like at most other trading software, Signals 365 works on mobile devices. Signals 365 does not require a download.
Signals 365 do have its limitations. The software only works for trading common currency pairs. If one is interested in trading binary options on commodities, then they will have to use other software. Signals 365 are also not of any use if one wants to make longer-term binary options predictions. Many binary options traders make predictions about prices the next day; Signals 365 only allows traders to make predictions at 5, 10, and 30-minute intervals. Nonetheless, Signals 365 is easy to use, can be used as an educational tool for new traders, and does work well for the currency pairs that it predicts. Signals 365 runs on your browser and does not require any downloads to use.
2) Binary Robot 365
Like some other trading software, Binary Robot 365 gives users the option of fully automated trading. After setting up the software, a user can allow the software to make trades itself around the clock and hopefully make a profit. The user can choose whether to go with a low-risk strategy or a high-risk strategy. The program can use a high-risk strategy known as “Martingale,” where it risks more money after a win to attempt to win more. It can also go with “Fibonacci,” where losing causes the program to risk more to try to make the loss back. Probably, any claims that one can make a lot of money simply by running free program are too good to be true. However, many users do manage to make a lot of money running the fully automated form of this program. One does not have to let Binary Robot 365 trade on its own with no manual intervention. One can instead use Binary Robot 365 to gather information as part of a custom trading strategy.
3) CryptoRobot 365
While most free binary options signals software only works for traders of currency pairs, CryptoRobot 365 helps those who trade binary options on cryptocurrency. Many different types of cryptocurrency are dealt with, and it works on many different trading platforms. CryptoRobot 365 is only for binary options trades and not for other forms of cryptocurrency trading. There are not really any other free options that can help traders predict binary options in the cryptocurrency market. As an information-gathering tool, it is excellent, but it does not make any strong claims about its ability to make money trading automatically.
Another popular free option is Option Robot. Option robot allows a user to customize the automated trading program’s behavior. While one cannot customize the application to the extent of creating an entirely new strategy, one can nonetheless modify the program’s behavior. Possibly, this means that succeeding with Option Robot’s automated trading is more realistic than with other applications. An investor with a strong understanding of the market may be able to change the program’s settings to reflect current market conditions.
How effective are these programs?
It is essential to see these free programs neither as scams nor as safe and easy ways of making money. These programs can save a skilled trader a great deal of time by gathering and interpreting information for them. Many people even do make money off of purely automated trading in many cases. However, a skilled investor that uses trading programs merely as tools can outperform an unskilled investor that relies exclusively on an automated system.