No matter what type of speculation you are engaging in the importance of good binary options charts cannot be overstated. Unfortunately, often times the brokers own charting resources are not up to the task. And using those charts will not give you the best results.
This is not really the fault of the binary options brokers either. It is because of the relatively small size of the binary options market compared to the forex and stock markets. The resources available in these other sectors are much greater. As a result they can afford to offer much more technologically advanced charting software and analysis tools. You should definitely be using one or more of these for your binary options charting. 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.
Best Binary Options Charts
ThinkOrSwim (TOS) – Charts by TD Ameritrade
This is the binary options chart which we use most often and most profitably ourselves. It is a great charting resource. What makes it even better is that it is available for free! All you need to do is register a free account with ThinkOrSwim. From there you will then be able to get 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 that you can use it for years without knowing all 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 Binary Options Charts & Charting Resources
There are also several decent free online charting tools which you can beneficially use for your binary options trading. We do highly recommend you use one of those provided above though.
- 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. However, if you know of a resource that you think should be included please let us know in the comments. Now if you want to pay for charting software and premium data packages then there are many more options. But because of the expense of those resources we’re not able to try out every one of them here. However, any of the premium paid services should be more than adequate for use as binary options charts. The one exception being 60-second binary options – which should be traded directly from your broker’s platform.