Honest Binary Options Signals Reviews – Where Should I Look?
Looking for shortcuts is probably what most traders do after they find out trading is difficult. One of these shortcuts is relying on signal services. There are thousands of signal providers today, advertising various types of signals to traders. To stick out, each of them advertise high win rates and fast signals but how do you know which one you can trust? Do you just Google search for reviews and take the first one that pops up? How do you know the website promoting the signal service you are interested in doing an honest review? Is it just another wolf in sheep’s clothing? These are difficult questions to answer for a rookie and experienced traders and some might not even be aware of the danger in blindly trusting a random review.
Who is Behind that Review?
Doing a quick search for binary options signal services will results in thousands of websites that offer signals, and just as many that offer their own reviews of those signals. We already know that many signal services are scams, but what about all these third party reviews? They all pretend they know who the best signal provider, high success rates are displayed and always come with screen-shots of accounts for confirmation to be sure you believe them.
Let me ask you, are you sure they are showing you the true honest results? After all, it’s their own website and they can show you whatever the results they like and we all know you can trust anything you see on the internet, right? I even bet you there a few good comments posted too? You know the ones, the people that say how great the services are because of all the wins they’ve had. How can you be sure that the comments are from real traders with no connection to the signal provider or the website that reviews them? What if those are PAID comments, from the review website or even the scam signal services themselves?
There is a hidden agenda behind signal reviews, they want you to make a deposit or buy a service so they can make money. They aren’t a business selling a service, in many cases review sites are nothing more than marketing materials put on the web by people who don’t even trade. The more traders they can get to sign up, the more money they make which makes for a tidy little conflict of interest. . . your safety or their profits. Of course, not all reviews are scams, there are plenty of legitimate review websites on the market, but you really have to be careful which ones you trust. Reviews of free signals are the worst. Free signals are the most notorious for being scams because there is a catch, you need to deposit with a broker first! There is nothing wrong with depositing with a trusted broker in order to get a free service but, unfortunately, that’s not where most scam reviews lead you to.
Signals and Education Together – Know Your Source!
Now to our question, how do you make sure you are in good hands? As a trader, my first advice is that you learn as much about the reviewer as you can before even considering their recommendations. I know that the whole idea behind reading a review that someone made is so that you can skip doing your own research and jump ahead to making millions with no effort but trust me, that’s just dumb, pure and simple. You don’t blindly trust the brokers and services because there is risk of scams and there is just as much risk in trusting a random review website. Being lazy is not going to get you anywhere.
Remember that you were searching for reviews for a reason. To find out whether the signal provider is trustworthy or not. Therefore, it is as important to research the reviewer too, the more verification the better. In my opinion, a true reviewer also wants to educate you and has no conflict of interest, meaning they don’t send you to scam brokers or signal services.
The very first thing you should, and this may sound familiar, is to find out who is running the website. You don’t trust a broker with no information about the business or location of operation and you shouldn’t trust a review that operates that way either. After that you should look for additional verification’s such as other reviewer sites and forum postings. In my opinion nothing can beat true reviews by actual users, that’s the best “third party verification”. That’s why it’s important to be a part of a community where you can talk to and learn from other traders,copy others or share your trading plan, a community like CommuniTraders. See you there!