Pro Binary Signals Service

pro binary signals serviceThere certainly seems to have been a number of new binary signal services which have been launched on the market in recent months. While I have been keen to take a look at them other commitments have got in the way until now. So I thought it was time to take a look at what is currently on offer.

The first service I am going to review is the Pro Binary Signals service (not to be confused with the Binary Options Pro Signals service I have reviewed previously).

This service offers a typical ‘signals style’ website which claims to send signals direct from hedge fund traders. The usual benefits of trading signals are listed, together with the claims of earning high profits. All in all the site is pretty much as expected in this market sector, although particularly annoying was the pop up urging me to open a new account with a broker. I really object to pops when visiting a site (maybe this is just me). I also don’t see why a signal service is so desperate to make commissions from broker sign ups. Surely a good signal service should be more concerned with selling you decent signals?

How Pro Binary Signals Works

Anyhow let’s move onto the service itself.  The key thing by which any product or service needs to be measured is performance. In you want to earn a binary options trading income, then you need a good strategy which can provide consistent performance. With this in mind the ‘strike rate’ is quoted as 85% which is of course impressive. This is backed up by an accompanying ‘latest performance report’ on the website.

However the results shown are somewhat confusing. The earliest expiry date shown is for  February 2011 and the latest for June 2012.  When measured against the number of trades taken this equates to forty trades being placed over this time period. This is somewhat at odds with the claim that you will be sent ‘multiple signals per day’. I sure hope their signals turn out to be better than their maths.

Other than this the service offered looks typical of many other providers. Pricing is fairly typical with a $9.99 7 day trial offered and a repeat billing of $99.99 per month.

Something that I do like is that the signals are sent by both email and SMS. The ability to receive signals by SMS is a great benefit. It helps to ensure quick delivery once an opportunity is seen and should provide a better chance of placing the signal in your account. Most major international destinations are supported by this feature.

One thing to note is that there is no real clear indication of the markets that are traded or the contract types are that used from the website. The results that are listed point to the service being heavily geared towards the use of Forex options (EUR/USD, USD/CHF,GBP/USD etc). However this is at odds with the text on the site which states that signals are offered on a range of assets. Indeed, the first couple of signals received have been for longer term Call or Put trade contracts on the EUR/USD, Gold and Oil.

Initial Thoughts

While I may seem a little negative on the service at first glance, the proof of course is in the results achieved. The key benefits are the longer term contracts used (7 days on signals received so far). This gives more opportunity for getting in on the signal. And of course you can try out the service for just $10 to see if it fits in with your trading style.

As with previous tests I have run, results will be posted below. Updates will be added as the Pro Binary Signals review progresses.

Scroll Down For Live Test Results And Conclusion

Results

Live Trading Record
Date Asset Direction Level Expiry Able to place? My Result
25/07/12 NASDAQ PUT 2536 17:10 GMT 31/07/12 Yes Loss
25/07/12 AUD/USD CALL 1.0283 17:10 GMT 31/07/12 Yes Loss
25/07/12 GOLD CALL 1598 17:10 GMT 31/07/12 Yes Win
25/07/12 Oil PUT 88.29 17:10 GMT 31/07/12 Yes Win
26/07/12 EUR/USD CALL 1.216 17:10 GMT 31/07/20 Yes Win
26/07/12 AUD/USD CALL 1.0397 17:10 GMT 31/07/12 Yes Win
27/07/12 AUD/USD CALL 1.04417 17:10 GMT 31/07/12 Yes Win
27/07/12 GOLD PUT 1627.5 17:10 GMT 31/07/12 Yes Win
30/07/12 GOLD PUT 1618.6 17:10 GMT 31/07/12 Yes Win
30/07/12 EUR/USD PUT 1.2266 17:10 GMT 31/07/12 Yes Loss
30/07/12 AUD/USD PUT 1.049 17:10 GMT 31/07/12 Yes Loss
31/07/12 AUD/USD CALL N/A 17:10 GMT 31/07/12
31/07/12 USD/USD CALL 1.0094 21:00 GMT 31/07/12 Yes Win
01/08/12 EUR/USD CALL 1.2326 08:00 GMT 01/08/12 No
01/08/12 EUR/USD PUT 1.2296 17:10 GMT 31/08/12 Yes Loss
01/08/12 Gold PUT 1602.44 17:10 GMT 31/08/12 Yes Loss
02/08/12 EUR/USD PUT 1.2259 23:30 GMT 31/08/12 Yes Loss
02/08/12 EUR/USD PUT 1.2261 17:10 GMT 02/08/12 Yes Loss
02/08/12 AUD/USD CALL 1.0478 17:10 GMT 31/08/12 Yes Loss
03/08/12 GBP/USD CALL 1.5520 17:10 GMT 03/08/12 Yes Win
03/08/12 Gold CALL 1590.56 17:10 GMT 31/08/12 Yes Win
03/08/12 EUR/USD CALL 1.2265 17:10 GMT 03/08/12 Yes Win
06/08/12 AUD/USD CALL 1.0569 17:10 GMT 31/08/12 Yes Loss
06/08/12 EUR/USD CALL 1.2415 17:10 GMT 31/08/12 Yes Win
06/08/12 Gold CALL 1614.95 17:10 GMT 31/08/12 Yes Win
07/08/12 EUR/USD CALL 1.2415 23:00 GMT 01/08/12 Yes Loss
07/08/12 GBP/USD CALL 1.5623 19:00 GMT 07/08/12 Yes Win
07/08/12 Silver CALL 2808 21:10 GMT 07/08/12 Yes Loss
08/08/12 AUD/USD PUT 1.0562 23:00 GMT 08/08/12 Yes Loss
08/08/12 EUR/USD PUT 1.2382 23:00 GMT 08/08/12 Yes Win
08/08/12 EUR/USD CALL  – 17:10 GMT 31/08/12
09/08/12 EUR/USD PUT 1.2375 23:00 GMT 09/08/12 Yes Win
09/08/12 EUR/USD PUT  – 23:00 GMT 01/08/12 Yes
10/08/12 EUR/USD CALL 1.2268 20:50 GMT 01/08/12 Yes Win
10/08/12 EUR/USD PUT 1.2270 17:10 GMT 10/08/12 Yes Loss
10/08/12 GBP/USD CALL 1.5574 19:30 GMT 10/08/12 Yes Win
13/08/12 EUR/USD CALL  – 23:00 GMT 13/08/12 Yes Win
13/08/12 GBP/USD CALL 1.5696 19:00 GMT 13/08/12 Yes Win
13/08/12 AUD/USD CALL 1.0594 17:10 GMT 17/08/12 Yes Loss
14/08/12 EUR/USD PUT 1.2359 23:00 GMT 14/08/12 Yes Win
14/08/12 GBP/USD PUT 1.5690 19:00 GMT 14/08/12 Yes Win
14/08/12 AUD/USD PUT 1.0485 23:00 GMT 14/08/12 Yes Loss
15/08/12 EUR/USD PUT 1.2287 23:00 GMT 15/08/12 Yes Win
15/08/12 GBP/USD PUT 1.5683 23:00 GMT 15/08/12 Yes Win
15/08/12 AUD/USD PUT 1.0506 19:10 GMT 31/08/12 Yes Win
16/08/12 EUR/USD CALL 1.2268 17:10 GMT 17/08/12 Yes Loss
16/08/12 GBP/USD CALL 1.5700 19:00 GMT 16/08/12 Yes Win
16/08/12 AUD/USD CALL 1.0506 17:10 GMT 17/08/12 Yes Loss
17/08/12 EUR/USD CALL 1.2377 17:10 GMT 17/08/12 Yes Loss
17/08/12 AUD/USD PUT 1.0458 20:00 GMT 17/08/12 Yes Win
20/08/12 EUR/USD CALL 1.2360 17:10 GMT 24/08/12 Yes Win
20/08/12 EUR/USD PUT 1.2338 20:00 GMT 20/08/12 Yes Win
20/08/12 GOLD CALL 1623 17:10 GMT 24/08/12 Yes Win
21/08/12 EUR/USD CALL 1.2401 23:00 GMT 21/08/12 Yes Win
21/08/12 AUD/USD CALL 1.0513 23:00 GMT 21/08/12 Yes Loss
21/08/12 GBP/USD CALL 1.5775 17:10 GMT 24/08/12 Yes Win
22/08/12 EUR/USD CALL 1.2463 23:00 GMT 22/08/12 Yes Win
22/08/12 GBP/USD CALL 1.5799 19:00 GMT 22/08/12 Yes Win
23/08/12 EUR/USD PUT 1.2556 17:10 GMT 24/08/12 Yes Loss
23/08/12 AUD/USD PUT 23:00 GMT 23/08/12
23/08/12 AUD/USD PUT 23:00 GMT 23/08/12
24/08/12 AUD/USD PUT 1.03984 17:10 GMT 24/08/12 Yes Loss
24/08/12 EUR/USD PUT 1.2516 17:10 GMT 24/08/12 Yes Win
24/08/12 NASDAQ CALL 3061 20:00 GMT 24/08/12 Yes Win
27/08/12 EUR/USD CALL 23:00 GMT 27/08/12
27/08/12 AUD/USD CALL 17:10 GMT 31/08/12
27/08/12 NASDAQ CALL 20:00 GMT 27/08/12
28/08/12 EUR/USD CALL 1.2530 17:10 GMT 28/08/12 Yes Win
28/08/12 AUD/USD CALL 1.0379 17:10 GMT 28/08/12 Yes Win
28/08/12 GOLD CALL 1668 17:10 GMT 31/08/12 Yes Win
29/08/12 EUR/USD PUT 1.2542 17:10 GMT 31/08/12 Yes Win
29/08/12 AUD/USD CALL 1.0389 17:10 GMT 29/08/12 Yes Win
29/08/12 AUD/USD PUT 1.0340 17:10 GMT 31/08/12 Yes Loss
30/08/12 EUR/USD CALL 1.2546 23:00 GMT 30/08/12 Yes Win
30/08/12 AUD/USD CALL 1.0307 17:10 GMT 31/08/12 Yes Win
30/08/12 GOLD CALL 1664 17:10 GMT 31/08/12 Yes Win
31/08/12 EUR/USD CALL 1.2561 17:10 GMT 31/08/12 Yes Win
31/08/12 AUD/USD PUT 1.0319 17:10 GMT 31/08/12 Yes Loss

 

Pro Binary Signals Initial Update

I thought it was fairly timely, given that we are over halfway through testing this service to give an update on performance. And surprisingly the results have been encouraging.

I say surprisingly as you will note that when I initially started this Pro Binary signals review I was a little skeptical. This was down to the lack of clarity on how the signals would work and in particular the lack of a clear history of results.

Having now used the service, as you can see from the list above, plenty of signals are generated and in the main, these have so far proved successful. It is of course difficult at this point to draw any firm conclusions as to the performance. This is down to the service making use of a wide variety of expiry times, with daily, weekly and monthly contracts used. A definitive picture of performance won’t be able to be reached until the end of the month once all contracts have closed out.

A point to note so far is that with 13 positions currently open, you will need to manage your risk. It would be easy to end up with large portions of your trading capital tied up in open positions.

One slight criticism comes from the format of the signals themselves. They do not include an entry level at which the provider entered the market. This would make it easier to know whether it was worth acting upon a signal, particularly if you can’t place immediately.

However so far, so good, with 23 wins, 9 losses, 13 positions open and 3 that I was unable to place.

Update and Summary

Having now tested the service for a full calendar month it is now probably fair to make an assessment of how this service performed.

As I have mentioned previously, the only real metric by which you can decide if a service is worth using is down to the results it achieves. On this measure, Pro Binary Signals does deliver… well almost.

The final trade results over the testing period read as follows:

Won – 45 Lost – 24 Didn’t Place-9

So even considering the nine trades that weren’t placed (either I was not about, away from a computer etc) this equates to just over a 65% win rate which is not too shabby but could definitely be improved on. Whether or not the trades I didn’t place would have contributed to bettering (or worsening this rate) is of course open to debate.

For $99 a month this is, in my opinion, definitely a service worth checking out. It should work well for those people who need a a wider window for placing signals, than say, the B.O.P.S service provides.

Verdict

Pros
  • Easy to follow signals on a wide range of different assets
  • High frequency of signals and good long term performance
  • You can try it out for just $9.99 for 7 days
Cons
  • No ‘entry’ level provided on the alerts provided
  • Long term trades can tie up your account balance
NO LONGER AVAILABLE
Checkout More Binary Options Signals – Click Here