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Binary options trading has been a part of my life for years. I’ve seen the good, the bad, and the ugly. I know how hard it can be to find tools that actually help you succeed. One of the tools I’ve come across is OBSignals. It’s a Google Chrome extension that provides free binary options signals. On paper, it looks promising. But as we all know, what’s promised and what’s delivered aren’t always the same. In this OBSignals review, I’ll break down everything you need to know about the tool so you can decide whether it’s for you or not.
• OBSignals is a free Google Chrome extension that provides real-time binary options signals, including during OTC market hours.
• The tool is easy to use, offering straightforward alerts for assets, direction (call/put), and timeframes (1 or 5 minutes).
• Its claimed accuracy exceeds 90%, but user reviews are mixed, with some reporting consistent profits and others experiencing losses.
• To make OBSignals more effective, it’s important to combine signals with personal analysis, use a demo account for testing, and practice solid risk management.
• While OBSignals can be a helpful tool for beginners, experienced traders should view it as a supplement rather than a replacement for their strategies.
What Is OBSignals?
OBSignals has been around for a few years now. It’s primarily known for its simplicity, as almost any binary options trader can figure out how it works. Unlike some overly complicated binary options signal services, it sticks to the basics. This is why many traders, especially beginners, give it a try.
OBSignals is a free Google Chrome extension that generates real-time, free binary options trading signals. The idea is simple: when the market hits a certain condition, the tool notifies you. It tells you what asset to trade, whether to go for a call or a put, and the recommended expiry time.
The tool provides signals 24/7, including during OTC market hours. The developers claim to be accurate and reliable. Yet, like any other trading tool, it has its limits, and results can vary depending on how you use it.
It’s not a new player in the game, but it’s also not as established as some of the big-name signal providers. Still, the OBSignals Google Chrome extension is free. So, it might be worth a try for some.
How to Use OBSignals?
Using OBSignals is pretty straightforward. You don’t actually need to be a rocket scientist to figure it out. It’s a Chrome extension, so everything runs directly from your browser. Let me walk you through the steps I followed to get started.
First, you need to download the OBSignals extension. Open Google Chrome and go to the Chrome Web Store. Search for “OBSignals,” and you’ll see it pop up. Click on it, then hit the “Add to Chrome” button. Once it’s installed, you’ll notice the OBSignals icon appear on your browser toolbar.
After installation, click on the icon to set it up. You might need to log in or create an account, depending on the version. It’s a quick process and doesn’t take more than a minute or two. Once you’re logged in, the extension will start sending you binary options signals.
Using the signals is easy. Whenever the tool detects a trading opportunity, you’ll get an alert directly in your browser. Each alert includes the asset (like EUR/USD or GBP/JPY), whether you should place a call or put, and the recommended expiry timeframe (1 or 5 minutes). There’s also a bar indicator that suggests the potential accuracy of the signal.
What Are The Signals Based On?
OBSignals doesn’t explain exactly how its signals are generated. Though, based on my experience, they likely use a mix of technical analysis and algorithms. Most signal providers rely on these methods to find opportunities in the market.
The signals could be based on technical indicators like Moving Averages, RSI, and even Bollinger Bands. These tools are quite popular for identifying trends and potential reversals and can be among the best indicators for binary options trading.
There’s also a chance that they use algorithms based on price patterns, like support and resistance levels and candlestick formations.
For OTC markets, the system might use custom algorithms. OTC trading can be unpredictable, so they probably rely on specific data for those sessions.
How Accurate Is OBSignals?
OBSignals claims a daily accuracy rate exceeding 90%. However, OBSignals reviews by real traders vary. Some report consistent profits and praise the tool’s reliability. For instance, a user mentioned, “I’ve been trading with OBSignals for over five months, and I can confidently say they are the best in the business. 
On the other hand, other OBSignals reviews point to low binary options signal accuracy. They’ve noted that they have lost trades despite following the provided signals. One user stated, “OBSignals accuracy is very low (10-20%). Every trade I take is a loss.” 
So, considering these mixed OBSignals reviews, you should definitely approach it with caution and implement some other steps to improve your chances.
If you want to try out a more sophisticated binary options signal service, check out this vfxAlert review to see whether it suits you better.
Tips on How to Make OBSignals Work
Here are a few tips I’ve learned to make any binary options signal service, including OBSignals, work more effectively, and I think you should also consider:
- Start with a Demo Account: Always test the signals on a binary options demo account first. This helps you get a feel for their accuracy and how they align with your trading strategy without risking real money.
- Be Quick: Binary options signals are time-sensitive. Make sure your trading platform is open and ready to go when you’re using the tool.
- Combine Signals with Analysis: Don’t rely solely on the signals. Use your own binary options trading strategy and analysis to confirm the opportunities they suggest.
- Practice Risk Management: No signal provider is 100% accurate. Stick to a solid risk management plan and limit your risk per trade to a small percentage of your account balance. I personally risk only 1%.
- Focus on One or Two Assets: Don’t trade every signal. Concentrate on a couple of assets you’re familiar with so you can verify the signals more easily.
- Update Your Extension: Make sure your Chrome browser and the OBSignals extension are up to date.
Conclusion
OBSignals is a binary options trading signals tool. It’s a simple Chrome extension, and most importantly, it’s free to use. However, its accuracy can be hit or miss, according to OBSignals reviews by real users.
So, should you use OBSignals? Well, it depends. If you’re new to binary options trading, it’s worth testing. But just stick to a demo account at first. If you’re experienced, it might serve as an extra tool but not a replacement for your own binary options strategies. Use it wisely, and don’t forget that no binary options signal service guarantees success.
