Binary Brain Wave Review

Binary Brain wave is a binary options trading indicator/signal provider that sends trading signals to traders via the MT4 chart, MT4 Experts Tab and Email.

As such, it is pretty much a custom indicator tailor-made for binary option trading. Nonetheless, this does not mean that it cannot be used for trading other markets available on the MT4 platform, such as Forex trading.

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Binary Brain Wave was developed by a team of traders that came together to share their trading ideas and strategies thereby enabling them to establish one of the most powerful binary options software.

This software provides binary options trading signals for six currency pairs, which means that traders can also use the signals for forex trading on the MT4 platform.

How Binary Brain Wave Works

Traders looking to use binary brain wave must first download the software from the provider’s website and save it in the hard drive.

After this they then follow the general procedure of installing a custom indicator in MT4. The Binary Brain Wave software will be listed among custom indicators in MT4, and traders activate it by simply dragging and dropping the indicator in the trading platform.

Traders are also able to adjust the filters used in determining trading opportunities. The fewer the filters the more the signals a trader is likely to receive.

Binary Brain Wave developers advise traders to use the software on the 5 minute charts in a bid to analyzing binary option trading opportunities, which start at 40 minutes expiry periods.

The developers of this software also provide free installation to users who purchase it, which means the part of installing the custom indicator should not be a problem in case you are not familiar with MT4 custom indicator installation process.

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Now, this software provides trading signals for six currency pairs namely, EUR/USD, AUD/USD, USD/JPY, GBP/USD, EUR/JPY, and NZD/USD. As such, the most popular currency pairs are well covered, which means traders can expect to receive several signals per day.

Normally, the signals received tell the trader to CALL/PUT something like 10 minutes before the hour, thereby providing enough time for the trader to deliberate and decide whether or not to act on the signal.

As such, a trader will need to set an expiry time at the next 30 minutes. Example: receive signal at 1:50pm (PUT) – place PUT trade immediately with the expiry time of 2:30pm.

Binary Brain Wave signals are received directly on the MT4 chart, the Expert Advisor tab, or via Email. This means that even those on mobile devices are able to know which signals are being sent by the system.

Binary Brain Wave costs a lifetime fee of $119.99, and all updates are done at no extra costs. With this one time purchase, traders have access to lifetime support as well, but this provider does not have a money-back guarantee (refund policy).

Binary Brain Wave has shown increased efficiency over the years, with success-rate growing each year. For instance, in 2011, Binary Brain Wave managed an average success-rate of 71%, and as of mid-2015, that rate had already grown to 83%.

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Generally, traders can expect to receive up to 25 tradable opportunities per day, which again is quite significant considering the fact that this is a 40 minute expiry time strategy being applied on just six currency pairs.

Advantages of Binary Brain Wave

One of the most important aspects of trading is specialization. When you come across an individual who claims to provide signals for several currency pairs, then that is most likely a scam. Now, binary brain wave was developed by a team of expert traders, and the software focuses on just six currency pairs. This means that the developers were able to concentrate on these pairs thereby gaining genuine expertise which gave them an advantage when developing the strategy being used to trade the pairs.

Traders pay a one-time fee which also gives them a license to access lifetime support and updates for free. Therefore, there are no monthly payments.

Traders can adjust the filters depending on their risk appetites, but generally, the default setting are able to send up to 25 signals per day depending on trading activity in a given day.

Binary Brain wave developers do provide free installation and customer support for subscribers. This is very important because installing the software can be a little tricky for Mac users.

Disadvantages of Binary Brain Wave

Binary brain wave promises a success-rate of up to 83% going by the latest figures, but since there is no real proof of result, it is impossible to tell whether or not the 71%-83% success-rate suggested is actually genuine.

Binary Brain Wave does not have a refund policy, and there are no trial periods. This is quite tricky for traders given the fact that there have been a few cases where some users have suggested that the software did not deliver as promised. However, those cases cannot be verified as to whether the people reporting actually bought the software or is just another case of rival attack.

Binary Brain wave can only be used on 6 currency pairs, which could be limiting for some traders who look for more than just six.

Conclusion

The bottom line is that while Binary Brain Wave offers a unique way of providing binary option trading signals, this does not mean that the system is immune from other flaws common to signal providers.

Among them is the fact that traders should not expect to receive what is being advertised by the provider as success-rate for using the custom indicator.

This is because; results of the past may not imply what you will get when you start using the software tomorrow.

Additionally, traders should also be ware of various cases of scam indicators, which means you should do further research before finally opting to buy the software.

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