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Top Binary Signals is binary signals provider established in 2010. They claim to have issued over 100,000 signals to half a million clients over the past five years with consistent +80% success rate. This provider offers live signals via Skype, email and SMS as well as professional advice from a personal broker. Complicated Process of Signing... Read more
Top Binary Signals is binary signals provider established in 2010. They claim to have issued over 100,000 signals to half a million clients over the past five years with consistent +80% success rate. This provider offers live signals via Skype, email and SMS as well as professional advice from a personal broker.
Complicated Process of Signing Up
One would think that signing up with a signal provider is nice and easy as it is only the beginning of the trading process, but TBS proved us wrong. There is no visible Login or Register button on the page, so we tried to register through links in account section but failed. The link redirected us on Brokers page where it is stated that we must first deposit with the broker, and then contact or manager after which he will check our account and start providing us signals. The problem is, we couldn’t reach the manager as we couldn’t open our account. Top Binary Signals, unfortunately, has a limited number of brokers - only two. Traders can choose between: EclipseFinance
MilleniumOptions As Fair Binary Options didn't review any of them, we really, can't recommend their services. When we decided to try a free trial, we clicked the button under "TBS skype signals" and it redirected us to a page where is no mentioning of a free trial. If you choose a free trial under the section for managed accounts, there is a minimum deposit of $1000 with Elite Options required. We can't consider this a free trial in any way. It would be great if Top Binary Signals published their generated signals or simply provide free demo account for testing those signals. This way, it's impossible to verify anything.
Top Binary Signals Regular Accounts Subscription Costs
Skype Signals
start from $149 biweekly for Starter Package. One session package is $249 a month and Four sessions package will set you off $777 per month.
e-mail Signals
Starter package is the cheapest pack the signal provider offers, at $49/ month. It is followed by the Advanced package for $99 per month and Expert trader pack for $199 per month.
SMS Signals
follow packages offered for e-mail signals, however, they are costlier - $79 / $149 / $249 per month.
VIP Members Deposit Requirements Off the Charts
Top Binary Signals is offering five different VIP plans. Bronze one requires deposit between 500 and 1,499 USD/EUR but includes only Skype signals and choice of one free session for a month.
The Silver plan requires deposit between 1,500 and 3,499 EUR/USD and offers 1 daily email with signals, along with a choice of 2 sessions free for a month.
The gold plan starts from 3,500 to 6,499 EUR/USD and provides a choice of 4 free sessions for a month. Trader receives 3 emails, one SMS and 3% monthly cashback.
For 6,500 to 14,999 deposit trader gets Platinum service with 4 free sessions during the membership, 8 emails a day, 5 SMS a day and some additional services,
Diamond account holder must deposit 15,000-99,999 USD. This account provides them everything Platinum does, with the addition of managed account.
Good thing is that there apparently is a free trial upon request, and
the bad thing is that unless you carefully check the homepage you have no idea how many Skype signals you receive (the answer is up to 15). This broker provides managed accounts as well, with promised ROI of 100%. These amounts of money required for deposit are quite high, so we suggest using a free service like Binary Options Robot instead. Amount of Signals Depends Heavily on Your Deposit
Just a quick glance at the website shows that this broker promises three different ways of receiving signals, but our review showed it’s not really true. The way you’ll receive signals is highly determined by the type of service you pay for. As it can be noticed, cheaper accounts provide significantly fewer signals compared to the most expensive account.
Doubtful Signal Accuracy
We must say that we know that it’s impossible to achieve 100% accuracy as financial markets are in constant change and no trader has the information to beat the market in the long run. Top Binary Signals promises up to 88% success rate, with an average rate of 83%. Looking at the website, one notices 2015 data where month after month, signal accuracy (win rate) is consistently above 78%. Top Binary Signals generates about 160 - over 200 per month. While we do not have resources to track win rates for such products in long-term, we must notice the fact that there is really low standard deviation when looking at the monthly data.
Low standard deviation of win rates causes doubt The efficient market hypothesis tells us that the best way to ensure returns is passive investing into a broad index such as the S&P500 and that passive investing beats active portfolio management (stock picking) over the long run. So the question is, how can win rate on trades that are much riskier behave in a way that is less volatile than the general index. This narrow dispersion around the mean looks suspicious not only because theory but also because there is ample empirical evidence that this holds as shown by, among others, Vanguard.
Small question regarding the quick stats calculation
Another thing concerning their quick stats. We may be wrong, but if they had 203 trades, for each trade of $100, it means the customer invested $20,300 in winning trades and $26,000 total. If the profit was $7680, this means that average option returned ca. 35%, which is just too low. We usually see returns from 65% to 92% depending on the broker. We also want to notice that we do not like when these kinds of stats are shown as due to various settings and features, the profit can vary, and in absence of a disclaimer this looks like a promise, which is false advertising we already covered as being unethical and under For now, we have verified only Binary Options Robot results, while not promising impossible, these are realistic and in line with laws of economics.
EyeCandy Results with Profit Calculator
Same goes for the profit calculator, that, without stating the time period or anything else, showed us we could get $255K (see image on the right) with $1000 deposit in the standard scenario. This is a result that again looks like a promise. This type of advertising can mislead traders and can be extremely dangerous since the dispersion of results can mean that some traders would have gotten way less than the mean and some even more. Also, risks are not mentioned, however, this is the way company stands behind supplied information (from their Terms & Conditions):
For the avoidance of doubt, Top Binary Signals™ hereby clarifies that it is not and shall not be responsible in any way for the accuracy of any information on this website regardless of whether it is published by the Company or by others. All published or referenced information shall therefore be regarded as unfounded information which is intended to help you manage your activities and risks. The Company strongly recommends that before you execute any action on this website, you must check and confirm all the information you get from this website through independent sources to ensure that these are satisfactory.
- so great for you that you ran into an independent source like our site.
Conclusion
Another disadvantage is a cluttered website that is almost impossible to use. Special offers, videos, various unnecessary information – they all make the website hard to navigate, as already mentioned in the section about signing up. We feel like we are on mobile plan provider's website, where everything is intentionally made complicated in order to avoid providing direct and clear information. In addition to almost perfect results month after month, the issue of false awards this provider does not really breed confidence. We tried to find the place where these esteemed services, real or not, have mentioned Top Binary Signals as a winner. This is another play on traders' lack of information, using symbols to strengthen unjustified confidence. In the world where many brokers provide free signals, Top Binary Signals charge too much for a service where results promised seem exaggerated. We always recommend using a free signal provider, like Binary Options Robot, that not only offers free signals and auto trading but also has the best brokers available in its portfolio.
2.5
Top Binary Signals is binary signals provider established in 2010. They claim to have issued over 100,000 signals to half a million clients over the past five years with consistent +80% success rate. This provider offers live signals via Skype, email and SMS as well as professional advice from a personal broker.
Complicated Process of Signing Up
One would think that signing up with a signal provider is nice and easy as it is only the beginning of the trading process, but TBS proved us wrong. There is no visible Login or Register button on the page, so we tried to register through links in account section but failed. The link redirected us on Brokers page where it is stated that we must first deposit with the broker, and then contact or manager after which he will check our account and start providing us signals. The problem is, we couldn’t reach the manager as we couldn’t open our account.
Top Binary Signals, unfortunately, has a limited number of brokers – only two. Traders can choose between:
EclipseFinance
MilleniumOptions
As Fair Binary Options didn’t review any of them, we really, can’t recommend their services.
When we decided to try a free trial, we clicked the button under “TBS skype signals” and it redirected us to a page where is no mentioning of a free trial. If you choose a free trial under the section for managed accounts, there is a minimum deposit of $1000 with Elite Options required. We can’t consider this a free trial in any way. It would be great if Top Binary Signals published their generated signals or simply provide free demo account for testing those signals. This way, it’s impossible to verify anything.
Top Binary Signals Regular Accounts Subscription Costs
Skype Signals
start from $149 biweekly for Starter Package. One session package is $249 a month and Four sessions package will set you off $777 per month.
e-mail Signals
Starter package is the cheapest pack the signal provider offers, at $49/ month. It is followed by the Advanced package for $99 per month and Expert trader pack for $199 per month.
SMS Signals
follow packages offered for e-mail signals, however, they are costlier – $79 / $149 / $249 per month.
VIP Members Deposit Requirements Off the Charts
Top Binary Signals is offering five different VIP plans.
Bronze one requires deposit between 500 and 1,499 USD/EUR but includes only Skype signals and choice of one free session for a month.
The Silver plan requires deposit between 1,500 and 3,499 EUR/USD and offers 1 daily email with signals, along with a choice of 2 sessions free for a month.
The gold plan starts from 3,500 to 6,499 EUR/USD and provides a choice of 4 free sessions for a month. Trader receives 3 emails, one SMS and 3% monthly cashback.
For 6,500 to 14,999 deposit trader gets Platinum service with 4 free sessions during the membership, 8 emails a day, 5 SMS a day and some additional services,
Diamond account holder must deposit 15,000-99,999 USD. This account provides them everything Platinum does, with the addition of managed account.
Good thing is that there apparently is a free trial upon request, and
the bad thing is that unless you carefully check the homepage you have no idea how many Skype signals you receive (the answer is up to 15). This broker provides managed accounts as well, with promised ROI of 100%.
These amounts of money required for deposit are quite high, so we suggest using a free service like Binary Options Robot instead.
Amount of Signals Depends Heavily on Your Deposit
Just a quick glance at the website shows that this broker promises three different ways of receiving signals, but our review showed it’s not really true. The way you’ll receive signals is highly determined by the type of service you pay for. As it can be noticed, cheaper accounts provide significantly fewer signals compared to the most expensive account.
Doubtful Signal Accuracy
We must say that we know that it’s impossible to achieve 100% accuracy as financial markets are in constant change and no trader has the information to beat the market in the long run. Top Binary Signals promises up to 88% success rate, with an average rate of 83%.
Looking at the website, one notices 2015 data where month after month, signal accuracy (win rate) is consistently above 78%. Top Binary Signals generates about 160 – over 200 per month. While we do not have resources to track win rates for such products in long-term, we must notice the fact that there is really low standard deviation when looking at the monthly data.
Low standard deviation of win rates causes doubt
The efficient market hypothesis tells us that the best way to ensure returns is passive investing into a broad index such as the S&P500 and that passive investing beats active portfolio management (stock picking) over the long run.
So the question is, how can win rate on trades that are much riskier behave in a way that is less volatile than the general index. This narrow dispersion around the mean looks suspicious not only because theory but also because there is ample empirical evidence that this holds as shown by, among others, Vanguard.
Small question regarding the quick stats calculation
Another thing concerning their quick stats. We may be wrong, but if they had 203 trades, for each trade of $100, it means the customer invested $20,300 in winning trades and $26,000 total. If the profit was $7680, this means that average option returned ca. 35%, which is just too low. We usually see returns from 65% to 92% depending on the broker.
We also want to notice that we do not like when these kinds of stats are shown as due to various settings and features, the profit can vary, and in absence of a disclaimer this looks like a promise, which is false advertising we already covered as being unethical and under
For now, we have verified only Binary Options Robot results, while not promising impossible, these are realistic and in line with laws of economics.
EyeCandy Results with Profit Calculator
Same goes for the profit calculator, that, without stating the time period or anything else, showed us we could get $255K (see image on the right) with $1000 deposit in the standard scenario. This is a result that again looks like a promise.
This type of advertising can mislead traders and can be extremely dangerous since the dispersion of results can mean that some traders would have gotten way less than the mean and some even more. Also, risks are not mentioned, however, this is the way company stands behind supplied information (from their Terms & Conditions):
For the avoidance of doubt, Top Binary Signals™ hereby clarifies that it is not and shall not be responsible in any way for the accuracy of any information on this website regardless of whether it is published by the Company or by others. All published or referenced information shall therefore be regarded as unfounded information which is intended to help you manage your activities and risks. The Company strongly recommends that before you execute any action on this website, you must check and confirm all the information you get from this website through independent sources to ensure that these are satisfactory.
– so great for you that you ran into an independent source like our site.
Conclusion
Another disadvantage is a cluttered website that is almost impossible to use. Special offers, videos, various unnecessary information – they all make the website hard to navigate, as already mentioned in the section about signing up. We feel like we are on mobile plan provider’s website, where everything is intentionally made complicated in order to avoid providing direct and clear information.
In addition to almost perfect results month after month, the issue of false awards this provider does not really breed confidence. We tried to find the place where these esteemed services, real or not, have mentioned Top Binary Signals as a winner. This is another play on traders’ lack of information, using symbols to strengthen unjustified confidence.
In the world where many brokers provide free signals, Top Binary Signals charge too much for a service where results promised seem exaggerated. We always recommend using a free signal provider, like Binary Options Robot, that not only offers free signals and auto trading but also has the best brokers available in its portfolio.
