It is common knowledge that free signals are always good to have, and every chance to receive them is good thing. First good thing about free binary options signals is that you can use them for testing and learning how the process works. You can also observe, if it is allowed, what those signals search for, in order to avoid buying signals in the future. This will mean a lot of work before trading , but it will also mean more money spent trading rather than buying signals.
Signals are good for trading in general fashion, they take part of the work away. All you are left with is the decision about following through with the signal or not. It is smart to have a bit knowledge which would support your decision.
Signals come in many colors, and they all reflect trade types. Most common signals are from simple up or down trades and short to middle time frame of the trade.
If you want to earn through this kind of trading you will have to invest a lot of time in acquiring necessary knowledge. If you want to avoid this you may use signals to shorten the time needed to place a trade. But remember, some knowledge is always good, don’t trade with zero info about that particular trade and the asset.
Price of the signals is not fixed. There are signals that cost few dollars, and then there are some that go up to thousands. Do a research about the signal provider before buying more expensive signals from him. This price is connected to the quality of the information the signal is composed of. Cheaper signals are created from less information and more expensive signal has a lot of more information used in order to provide more accurate prediction.
And then there are free signals. They, in a way, bring a totally new perspective to signals and therefore they should be considered as a different type of signals all together.
They have both good and bad sides, but generally they are welcome because they are free.
Bad thing about free signals, if you compare them to paid signals is that they are not reliable. Paid signals take many things into the consideration, and they present everything that can affect the trade you are interested in. This is important because that is what you pay for. Free signals give you general information about the asset which may or may not be too important to the present state of the asset.
Good thing about free signals is that they are free. You get information without paying. You can get this information for free, even without using those free signals, but the difference is the time in which you get that information. If you did that yourself you would need time to gather and sort out everything you find. Free signal will, in short time, gather that data and forward it to you. So it is basically a shortcut you can take if you have few spare free signals.