Binaryoptions-live-signal.com (Bls.com from here foreward) is yet another binary options signal service claiming to have the highest returns. This SSP uses a Skype interface to provide real time signals from a group of professional traders. They have a variety of packages available and Lovelyhollows.Wiki all for free, kind of. There is no fee for the service, and you can choose to use whichever broker you wish, but to get the full package you must use their chosen broker, Safe24Options.com. Once you’ve signed up trading is as simple as choosing a trading session and awaiting the signals.
There are quite a few different sessions available, corresponding to the different international markets. Signals are generated for forex binary options and 60 second trading. The forex sessions are all equal to the daily session for the Japanese market, Australian market, U.S. market and so forth. The 60 Second trading sessions are all 30 minutes long and are tailored to suit each market. Bls.com trades on only 6 currency pairs. This is a little limited but if you’re letting someone else make trade decisions for you why does it matter. Signals are issued in a format telling you to buy a call or a put and at what price to target.
The Good, The Bad and The Ugly.
There are some good points to this SSP that I would like to point out. The Skype interface is pretty cool. This is a great use of the service and provides a valid source of real time signals, provided there are no connection issues. They claim to have a 75-85% win rate and based on the information provided that looks to be accurate. You can test this out by signing up for the free 3-day trial. This however is when the good points begin to fade away and I have to call BS on the whole thing. Once you use the free trial the only way to keep your « free » SSP is to sign up with their « trusted » broker. You know what that means? A big fat affiliate marketing scheme.
As for bad, I do not think very highly of 60 second trading. The time frame is just to short to be truly predictable. The reason binary options brokers like to promote this form of trading is because they make a lot of money off of it. Adding to that is the lag time involved with accepting someone else signals. Sure Skype is fast but it is not instant. Once a signal is taken by the trader it most be typed and sent, then received and acted upon by you, the trader. How much time does that take? The option is only good for a minute, how much time can you waste getting into a position like that?