What's the catch with Binary Options?

Of course it is interesting to discuss if binary options scam or legit, but to make this discourse more informatiive I would like to ask experts there how to work out traits or criteries, basing on which we can choose reliable BO broker. For example, hotforex has recently opened BO platform and I would like to participate to that. How I can estimate trading with this BO broker? Can somebody help me?
 
If you really want to swim in dangerous waters, let some other people jump in first and see which ones survive.
 
If you really want to swim in dangerous waters, let some other people jump in first and see which ones survive.
But if everybody has the same thing in their mind, first tryout will never happen. Moreover it is wise to warn newbies of hidden pitfalls in BO to prevent unpleasant experience, isn't it?
 
But if everybody has the same thing in their mind, first tryout will never happen. Moreover it is wise to warn newbies of hidden pitfalls in BO to prevent unpleasant experience, isn't it?

Look at all the people still opening accounts and getting burned by brokers that were long ago labelled as scam. There are plenty of people more than willing to jump into the shark tank head first, so there's no worries that no one else will test the waters for you if you exercise a little patience.
 
Look at all the people still opening accounts and getting burned by brokers that were long ago labelled as scam. There are plenty of people more than willing to jump into the shark tank head first, so there's no worries that no one else will test the waters for you if you exercise a little patience.

Yeah, good dodge to avoid risk of being ripped off by wily brokers. But what about regulators? Are they helpful in choosing reliable broker or just another vague advantage that brokers offer to us?
 
Look at all the people still opening accounts and getting burned by brokers that were long ago labelled as scam. There are plenty of people more than willing to jump into the shark tank head first, so there's no worries that no one else will test the waters for you if you exercise a little patience.

Honestly, I noticed that in real life people are acting like lemmings and go into all kind of traps and situations with obvious negative outcomes as well. Not that I think I'm the smartest person, I just want to say that there is a lot of people who are got used to following directions and the secret to life is to act, lead and command as if you know what you are doing, even when you are clueless as everybody else.

I know it's a deep thought and probably it will get mixed up in countless other posts, but hey, that's how you get ahead in life. Either that or study/learn/graduate from Ivy league (or something equal to that in your country) and be in the top of corporate bees.


P.S. Just realized how off topic I got, but I hope no one will object ;)
 
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Ditter, the secret to getting ahead in life is simple. Become a hamster smuggler. :cool:

Yeah, good dodge to avoid risk of being ripped off by wily brokers. But what about regulators? Are they helpful in choosing reliable broker or just another vague advantage that brokers offer to us?

Some "regulators" only regulate by cancelling the registration after enough complaints come in. What you want is a regulator that can and will force repayments of money owed and hand out big fines when appropriate. The NFA in the US and the FCA in the UK are two that do this.
 
Trading the Numbers - Wanna Bet?

Yeah, binary options, casinos, gambling...

...I don't know why anyone in their right mind would go for binary play as against risk-managed forex trading, I don't get that get.

I don't get it because if you are gamified - have an inherent game sensibility (online), playing binary is like going from multiplayer/level console gaming to, like, WAP fergawdsakes.

Binary options trading is just not at the races where brain-engagement is concerned - come back in 3 years when it has copped itself on and realised that gameplay and respect for the customer equals real revenue (like, when the pub is being run by a professional publican, as opposed to an alcoholic).

Let take it from this angle: if we compare trading with other traditional businesses, actually there is not much difference between them.

If I want to sell a potato (just the one, I'm in the middle of a binary mash-up here), I have to buy said spud (with, like, a currency) at a cheaper price, and then sell my tuber at a reasonable profit. You would hope.

Well, traders do the same thing. They buy hope with the base currency (and just a side order of fervent prayers) at a good price. When the price gets better, they sell it or vice versa. That means trading is just like other traditional businesses that we have around.

Except, of course, you can't parboil equity.

So, to earn money by trading one needs to understand the forex market. I need to study and apply learning (so many mistakes, so little time) over and over again to be able to turn the numbers around in my favor.

Gambling does not require a gambler to be well-trained – is this true? I dunno. What about poker, doesn't that require skill?

Anyways, in most cases, gambling is all about prediction - calculation or education does not play a part (did I mention poker? Oh, right...). In fact, the more illogical trend a gambler takes the more options he has of winning (and losing).

A forex trader does not need to do this. He can make money by taking a very logical route (trend trading strategy, say) with all kinds of safety and precautions, like a fire officer inspecting a Durex production facility (a bit like watching Willem Dafoe copping it in Platoon, but with less Adagio for Strings and more Justin Bieber – whose straining, tight-collared enthusiasm for cutting-edge entertainment – think Mylie Cyrus draped in nothing but a transparent veil of mortification – is more redolent of a last-minute motivational speaker at a forex expo, exhorting us all to smash our quarterly trading targets and stop playing silly buggers with the COT Report).

See, gambling has no time for that nonsense, gambling is deadly serious. In the same way a teenager is deadly serious about middle school.

But trading? Trading says, "You're a grown up. Stop pouting, you're embarrassing yourself..."
 
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