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There is a broad range of binary signal services on offer and it is worth understanding them if considering their use.
Firstly there are free signal services. While these services provide a very cheap option, the provider will need to meet their costs from somewhere. How they do this may not be immediately obvious, but some will require users to sign up with a particular broker. These brokers are generally not the best choice for the trader.
This method of user sign up puts the trader at considerable financial risk. Free signals are often offered alongside “get rick quick” marketing which is grossly misleading.
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The next level of signals will be the paid variety, where the information comes from a single source. That might be an individual advisor or a single system.
There are then signals that are collated from multiple sources. These are normally only advised once a certain number of these sources highlight the same trade, or where a human trader confirms a trading signal highlighted by an automated algorithm.
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