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Signals Reviews

Binary Options Trading Signals Now Available at Trading247.com

Jun 07 2013
By

Just a couple of days ago, we talked about an enhanced trading signals service provided by Forex trading community FX Market Leaders. Obviously, good things must come in pairs, since binary options broker Trading247.com has just announced the launch of a brand new signals service of its own – AlgoAlerts.com. 

 

Just as the name suggests, AlgoAlerts.com utilizes algorithms to provide traders with signals that are specifically suited to binary options trading. As most people who have tried trading binary options can tell you, trying to do market analysis as fast as possible before your option expires is no easy task. There are simply too many factors that play a part in the direction a pair is going to take, such as economic conditions, inflation reports, something the head of a central bank said during a press conference... As if this wasn't enough, there is always technical analysis to consider before trading. Taking all this into account fast enough can be too much work, or sometimes downright impossible.

 

Luckily, Trading247.com has the solution to that problem, or so they tell us. The AlgoAlerts.com website features a special widget showing the level of probability that a certain asset will move, both in color code and a scale from 1 to 10. For example, if you look at the image below, you would see there is a strong possibility the USDCAD pair will move higher:

 

 

While the widget is certainly an interesting touch, I must admit I was not at all impressed with the rest of the AlgoAlerts.com website. I do realize the page has just been launched, but I expected to see at least the basic features of what Trading247.com advertises. Judging by what is written on the AlgoAlertx.com page, it is supposed to offer signals for all types of options: stocks, currencies, commodities and indices. So far, I have only been able to locate currency pair signals (since they are right there on the home page). There are links which should point to said signals, but guess what – they either lead back to the currency widget, or a page that is still under construction. Ditto mobile and e-mail alerts. Trading247.com tells us both of these are available, but trying to register for either service leads nowhere. The e-mail signals page just explains what they are, while the SMS signals one is “Coming soon”. So, if I want to use trading signals, I have to be run back to my computer every hour to check out the latest signals. Thanks a lot!

 

Ever the optimist, I am willing to assume these are just temporary, albeit significant, setbacks, which will be worked out in due time. However, there is one thing about this service that puzzles me. The signals widget is updated within the first 13 minutes of every hour. This might work out very well for longer-term binary options, but what happens if you prefer the 60 Seconds kind? For all you know, the signal you are looking at right now could be completely outdated!

 

Of course, trading signals are not completely accurate in any case, and should be used only as a guide or complement to fundamental and technical analysis. Nonetheless, I think I'd rather wait until AlgoAlerts.com is more functional before I have a second look at its colorful widget. 

 

TAGS: trading247.com  algoalerts.com  binary options  binary options trading  trading signals  binary options signals 
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Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
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