Why Pharaoh don't trust Binary Options Brokers?
When I was introduced to this kind of new market trading, felt the same, seeing how many brokers work like Casinos and most look similar even in its names.
Suspicious to find that most don't offer demo trading until depositing. Don't invest before testing your skills on demo. Can deposit the minimum amount and trade demo until you feel good for live trading.
Doing more research for the best binary options brokers out there, from the many i tested, found only three that can somehow be trusted for your money.
Using the ScamAdviser website, topoption.com, cherrytrade.com, and gtoptions.com got High Trust Rating.
Scamadviser don't guarantee that clients will be able to withdraw money or any business trust will be built, but at least it is a good starting forward step to minimize the scam from the good binary options brokers.
Topoption being the most regulated by many European regulatory bodies.
I never judge anything for general, there are always good and bad companies, the latter may be more than the first esp. in a new business like the binary, but our job is to pick the good ones. There are hundreds or thousands of forex brokers out there, some are regulated and scam, some are not regulated and not scam. Out of lets say 1000 forex brokers on the forexpeacearmy scam radar, might find 500 scams, 250 regulated that its clients have different problems with them and there's open file in FPA court, but there are 250 good forex brokers left to choose from.
A person with no forex background and experience will fail in binary options because it's related to it in a way or another.
Same market indicators, economical news, money management etc can be used. Can open forex broker mt4 and trade binary options relying on your mt4 charts.
There are many scalpers who trade forex, the 60 seconds method in binary options is not far from their understanding. The same for the 5, 15, 30, 60 minutes, different traders trade forex according to these time frames charts, same apply for stocks, indices, commodities.
Although, there are some differences like not able to control the position after open until elapsing time, but there's an option of reducing the loss with the sell option.
Frankly, traders who use the 5, 15 and 30 minutes charts for mt4 trading, how many times they change their take profit and stop loss in that short time?
When can't resist but modify the position in a short time frame, why trade it?, trade higher time frames.
Binaryoptions can be a little easier despite of it being for 80 to 90% return but the investor can win that as little as a 0.1 pip difference than market price that will win a very small amount in mt4 trading. The same money management can be applied. When having a 1K balance, instead of opening position of $100, can open a one of $10, some offer as little as $1 for minimum position size.
Even if the best binary options regulated broker turns to be a scam and the whole binary option trading as fake according to how Pharaoh think depending on his replies, investors can protect themselves by starting small with 100 to 500 dollars(can start with $25 or lower), test the broker, its system and withdraw money that can be easy because most don't charge any fees on both withdrawals and deposits.
Example: After depositing $100 and making $100 profits withdraw it and continue trading with the $100, same for $500, $1K etc
Nobody can cheat you and steal your money, even the thief when you take safe measures.
When they scam any client with $100 or $500, come to forexpeacearmy and reveal the company's name, let all know about them to prevent dealing with.
The advertisement on forexpeacearmy worth more than the small amount they cheated, plus you'll be benefiting thousands of investors.