Binary option signals are the alerts which are utilized to execute trade of contracts of binary options that have been derived after proper analysis of the underlying asset. In comparison with forex counterparts, signals of binary option still exist in infancy stage. But, with the increase in traders of binary options, newer software tools and application are developed. Several broker platforms of binary option are rudimentary. Most of them do not have sufficient technical analysis. It is the work of the signal provider of binary options to have a look at the asset, get a suitable way of making analysis for future price fluctuations either by technical or fundamental analysis, ascertain the behavior of the asset according to the kind of trade to execute and then transmit the signals to those traders who will utilize them.
Because of the reality that the market of binary option is not fast-paced as with the market of forex, subscribers to signals normally have sufficient time to start the signals under the condition that phone or internet connectivity issues do not crop up for the prevention of the transmission of the information to the subscribers.
There are many methods of relaying binary option signals. They are mentioned as follows:
Through SMS: Here, the signals of trade are transmitted to subscribers by means of SMS after being created by the signal provider. The benefit of this system is that it is quick and very easy for implementation as most of the brokers have initiated utilizing and deploying this mobile-based platform. In earlier days, it was not so. Trader was able to get a trade alert when he went out to purchase groceries and waited up to the time he got back to his computer kept at home for implementation of the signals. But, now we have with us smartphones and there should be no such issue.
Through email: Before the year of 2006, this depended on a computer with internet connection. But, later Steve Jobs and his accomplices provided us Smartphones, Android and iPhone and now we are in such an age where traders are able to log in to the email boxes and trading platforms, derive the signals and then transmit them on the platform.
Account-Linked API Programs: Here, the accounts of subscriber can be linked to the services of signal provider of binary option trading so that when a signal is produced, it is transmitted instantly to the account of trader without the necessity of doing it manually.