Top binary options brokerage Banc De Binary has recently announced that their account executives’ trading signals for the last Non-Farm Payroll trading day touched the 90% mark in terms of in-the-money trades.
The monthly NFP report is one of the most tradable indicators on the economic calendar and causes a great deal of movement on the markets. The report is released on the first Friday of every month and tracks the changes in the number of US citizens currently in employment, excluding the farming industry. NFP is regarded as the most important employment statistic from the US, and provides key insights into the strength of its economy. Binary traders follow the data because this high-impact release generates sufficient market volatility so that they can capitalise on both the resultant up and downtrends.
Mike Roberts, senior analyst at Banc De Binary, attributes the success of his company’s trading signals partly to the market savvy of the senior account executives, and partly to the inherent simplicity of binary options. “While accurately predicting the magnitude of price action can be a tricky business, the importance of directionality to binary traders has given Banc De Binary a significant advantage over other brokers of other trading instruments.” In this way they are consistently able to generate the correct signals for their clients whatever the content of the economic report being anticipated.
With NFP day being such a profitable trading day for both the company’s account executives and its clients, Banc De Binary have honed their Non-Farm Payroll strategy to a science. NFP prep-work begins early on the first Monday of the month. During this week they perform technical and fundamental analysis so as to ascertain the likely figures to be released on Friday and the price movements these figures will inspire. They also get their clients ready for the report by sharing their analysis with them so that when the big day comes they will be ready to lock in the most profitable trades, whatever the results of the report may be.
Roberts highlights the importance of being ready to enter the correct trade when the time comes, “In binary trading timing is almost everything, so we can’t stress enough how vital it is for traders to be logged in and ready to go when the data hits.”
June’s NFP report saw the success of Banc De Binary’s live trading signals go through the roof, with of 90% of these expiring in-the-money. The company expects it to be much the same this coming July 6 when the report is released again.
Banc De Binary’s Head account executive, Niko Galis, explained, “NFP day is big business for us, and not only on the trading floor. We get an overwhelming number of our new clients signing up before NFP announcements. With so much activity both on the platform, and in our accounts departments, it is a day we eagerly look forward to, and all signs point to it continuing to grow month on month.”
