No matter what type of investment or speculation you are engaging in the importance of good charting software cannot be overstated. Unfortunately, no such charting capability exists at the binary options brokers themselves. No matter which broker you use. It is not really the fault of the brokers either it is just a function of the relatively small size of the binary options market compared to the more mainstream forex and regular stock markets. The resources available in these other sectors are much greater and as a result they can afford to offer much more technologically advanced (and expensive to develop) charting software and analysis tools. you should definitely be using one or more of these for your binary options charts. Not your broker’s charts. Given the importance of good charting we thought it would be helpful to put together a short list of the best choices for charting when trading binary options.
Binary Options Charts
ThinkOrSwim (TOS) – Charts by TD Ameritrade
This is the binary options chart which we use most often and most profitably so it takes pride of place in our first position. What makes it even better is that it is available for free! All you need to do is register for a free account with ThinkOrSwim and you will have unlimited access to their outstanding charting software. The technical analysis tools and indicators available on the TOS charts are both numerous and customizable. That’s right, you can edit the indicators or even start from scratch building your own! It is a great feature. We highly recommend you give this charting a try for your binary options trading.
MetaTrader4 (MT4) – Charting Software For Currency Pairs
When it comes to trading in currency pairs, MT4 charting is pretty much the undisputed king of charting software. There are so many features and customizable functions in this software that you can use it for years and never know the half of it. But don’t let that potential for complexity scare you away! While the ability to get fancy is definitely there with this software you don’t need to use it and even as a beginner you should get the hang of the basics fairly quickly. MT4 is another must have in your lineup of binary options charts. We recommend pairing this software with the TOS charting. Using MT4 for your forex binary options trading and the TOS charts for trading in all your other asset classes. This is a killer combo.
Other Charting Resources For Binary Options Trading
In addition to the downloadable software provided above (which we highly recommend you use) there are also several decent free online charting tools which can be beneficially used in your binary trading. The best of which of which you can access without ever leaving this site, thanks to the folks over at Free Stock Charts.
- Our Free Online Customizable Chart With Live-Streaming Quotes
- TradingView.com Charts & Trading Community
- StockCharts.com Free Charting Tools
- BigCharts From MarketWatch
- IncredibleCharts.com – Get 30-Days Of Free Premium Data Stream Service
Those are the best free online resources that we are aware of and we have researched this topic fairly thoroughly. Now if you want to pay for charting software and premium data packages then there are many more options than the ones provided here. But because of the expense of those resources we are not able to try out each and every one of them to review them here, unfortunately. However any of the premium paid services should be more than adequate for most of your binary trading (with the one exception being 60-second options – which should probably be traded directly from your broker’s platform).