For many people the idea of being able to use an app on their phone or software on their computer in order to make a profit in the binary options or Forex trading area is quite attractive. For this reason, there has been a huge growth in the number of binary options platforms available. Many platforms are aimed at those individuals who have little or no experience and unfortunately there are some platforms that are scams.
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XL Signals is one of the newer platforms to enter the market. It only became live in January of 2016. The age of XL Signals makes it a bit more difficult to review as it is difficult to gather data about the program and whether or not it actually works. However, there is information about XL Signals available and it will be up to traders to decide whether or not the platform is right for them.
Joining XL Signals is quite simple as a person can simply visit the website and click on the join now button. Once you have clicked join now you will enter your information and choose whether you want the free version or the gold version. Once you have chosen you can begin using the platform for your trading needs.
XL Signals is a new trading platform that allows people to place trades on several binary options as well as Forex movements. The market data is displayed in real time. XL Signals analyzes the information from several sources in order to come up with different binary options signals, forecasts, and predictions.
A trading predictor is provided and it is designed to help traders determine price movements of particular assets. Traders are able to choose their win rate and can place more trades using a lower rate or fewer trades at a higher rate when using the platform.
Additionally, there is the option to test the accuracy of signals in volatile conditions. For example, the conditions during the last economic crisis of 2008. This type of testing can help traders make decisions as they show how signals react in any type of condition that is provided.
Some of the other benefits of using XL Signals include:
As a relatively new binary options platform XL Signals has a lot to prove. Unlike some of the other platforms XL seems to focus on a small amount of assets. While many platforms have larger asset pools, the idea behind XL signals seems to be a focus on providing quality signals for a small group. Currently there are only 15 assets that XL Signals provides signals for.
Another unique feature of XL Signals is that a free plan is available. This free plan should be available to use with any broker that you may choose. However, there are some traders who have found that the XL Signals does not work with all current brokers.
XL Signals works by setting a win rate that is desired. Once you have provided the platform with this information signals that have that rate or higher will be produced. XL Signals relies on past market trends in order to predict the future market trends.
Since the system is relatively new there are very few results to provide. In addition, there is an affiliate program available, which could lead to false positives about the platform as people are looking for a way to make a commission.
XL Signals is available for free. When signing up you will simply choose the free plan and you can be using the platform through a binary options broker. In addition to the free plan that is available there is also a gold plan available.
The price for the gold plan is $399 per year. The difference between the gold plan and the free plan are a bit unclear, but one would think that there are some added benefits and features available for those who choose to purchase the gold plan.
XL Signals offers some interesting features that are not available with some of the other signal providers such as signals testing. Signals testing can be interesting to perform before placing any type of trade.
With that being said, no platform is perfect and there are a few potential drawbacks with XL Signals. One of the biggest problems that many have with this provider is that there is such a limited number of assets that signals are produced for. While this can be a good thing for less experienced traders, many advanced traders prefer a provider that offers more signals options.
Another drawback of XL Signals is that there is no official license for the site and there is a lack of information provided in order to verify the claims that are made.
Overall, the website for XL Signals is quite professional and has everything that one would expect from a legitimate trading platform. However, the platform is not licensed. While not having a license does not mean that this is a scam, it is difficult to recommend a trading platform that is not licensed.
There are many legitimate platforms out there that operate with and without licenses. However, when it comes to choosing a platform for your trading business, choosing one that is licensed is often the best way to ensure that a company is safe.
Since XL Signals is a relatively new platform chances are that it will become licensed in the future. If this is the case, it seems like as a free signals platform XL Signals could be quite a useful tool in the future as it offers many promising features that both beginning traders and more experienced traders will find useful.