Can you Legally Trade Options Signals?
From a legal perspective, using signals to trade financial contracts is allowed. There are no laws at all in any country on the planet that state that copy trading is not legal. So, traders are perfectly safe if they decide to use copy trading services in order to trade financial contracts.
Isn’t signal trading like cheating?
In copy trading, traders will have to use software that will track the actions performed by top-ranked professionals (with their permission). Each time a professional performs an action, the software will automatically copy and execute that action in the trader’s account as well.
This way normal traders will have the possibility to generate substantial revenues by simply doing the same what professional and extremely successful traders are doing. This is perhaps the best way to make money in financial investing.
But isn’t this like cheating? – Aren’t traders supposed to generate their own money by making their own predictions? – Of course not! The notion that this might be cheating is nonsense. Investing in financial contracts isn’t some sort of game in where you can “cheat”.
Binary options are a legitimate form of financial trading, meaning that traders are allowed to do everything in their power to generate profits. Traders are allowed (in fact required) to follow the news, read educational material and similar in order to increase their winning chances.
And obviously traders are also allowed to ask help from experts. Binary options mirror trading is the same as asking experts’ their opinion about financial betting. There is no “cheating” involved in signal trading. Those experts have willingly accepted to help you by becoming signal providers.
Do brokers approve of it?
When brokers have created their brokerages, they took the risk of losing money in case a lot of traders would win. A legitimate financial trading broker never makes a problem about traders who generally are winning a lot.
We heard some stories about some brokers in the past that they have banned certain traders that constantly managed to make significant profits. Brokers that do this are 100% fraudulent.
However, this never happens at legal binary options brokers. So, if you choose to trade at a reputable and legit broker and use signal trading you will not get banned or similar once you will be generating a lot of money (and you will).
Sure, the broker might not “like” the fact that you are winning all the time but there is absolutely nothing it could do. It’s illegal to determine traders to lose when they should have won. A legal trader risks being shut down in case it does something like that.
How accurate are they?
There are many binary options signal providers these days however not all of them are accurate. Those that are not that accurate are not bad because their creators intentionally decided to make them bad but because their creators simply lacked experience.
The financial betting business is still in its infancy and there are still many startups that would like to capitalize from this. However, most startups lack the necessary experience to create advanced and well performing software.
However, fortunately there are still many established and older companies that have decided to develop signal trading software platforms. These are the ones you can trust 100% when it comes to binary options signal trading.
How independent are they?
Some people might be concerted that signal providers are collaborating with brokers with the goal of providing bad signals in order to determine traders to lose. This fear is unfounded in case traders only trade at legitimate binary options brokers and use the software of legitimate signal providers.
So far we didn’t hear anything about signal providers working together with brokers in order to defraud traders. However, this might be because we don’t really pay any attention to lesser known and not so reliable binary brokers.
All the brokers that we list on our website are run by major and established companies. In fact, we did not hear any reports about any abuses or scam when it came to brokers and signal providers, so if you stick to the listed brokers and signal providers then all should be fine.
Binary Options Signals Toplist
Now that we cleared up the legal situation of binary options signal trading and signal platform providers we would like to recommend you a few signal providers that we believe are 100% safe and reliable.
All the copy trading providers we listed here are in the business for multiple years now having attracted a large trader following. We trust these providers completely because occasionally we also use them when we trade binary options ourselves.
They also have multiple advanced features that will help traders to adjust different settings and parameters that will allow them to trade more efficiently. Check out these binary options signal providers now if you want to generate profits on a constant basis.
Also, you should read our additional article about copy trading in financial investing in order to learn more about this concept and find out how you can use it to your advantage.