Binary options. Is it really this easy?

barycee

Recruit
Messages
3
Hi,

I am new here so hello for a start. =)

Came here because I made $4,000 with a demo account on BROKER NAME REMOVED.

Wanted to do more research before thinking I am going to be an overnight millionaire.

It has occurred to me that even if that was a 'real' account they likey don't really have that money I to pay me. How could they, the market has barely moved and I made $4,000 with a really basic Martingale system.

It seems like roulette. In a casino, they like to make people feel they have found a magic system but it's just the same system everybody has tried. Reverse psychology

Are they even really buying shares on my behalf as I make the orders or do they just buy some at the end of the month to meet some regulation and to invest their own money they made from people thinking they would get paid out but didn't? I fear they will basically say it was too mixed with fake bonues money or they will just delay payment until I forget I was owed any.

It just seems too easy to make money on there and in life that is usually a sign of a misleading business model. I literally could make a million a day from £20 initial deposit.

It may not be illegal for them to operate like that but statute laws and morality are not the same thing. Often, they can be the complete opposites.

Forex, however, looks promising but of course usually, involves real work. Ie, patience and research.

The concerning thing with REMOVED Options for me right now is they seem to be saying If I don't get paid quickly it will just be because I did not have the right ID or my bank was slow. Even telling me there is nothing to worry about. Even though I want to trade seriously and I can't if I don't get paid out promptly. So that is a big worry for me. Not really for them to tell me it shouldn't be, surely?

They have room to move the withdrawal goals posts around arbitariy because of their vague TOS and a dodgy company will almost definitely take advantage of that ommision to profit or at least hedge their own losses due to you simply wanting what you earned.

I don't mind clever marketing but I am not in this just to look at pretty lights and to feel like a trader. I want to actually be one. I really thought I was going to be a big binary guy but seems my dreams are dashed before they have really started?
 
Only two things are easy with the overwhelming majority of binary brokers:

1. Putting in money.

2. Watching how fast withdrawals are blocked.

My best advice - avoid binaries the same way you would avoid hanging out in the middle of an ebola plague zone.

Binary bets are like betting red or black on roulette at a casino, Also, like a casino, your deposits are profit for the house. Your withdrawals cost the house money.

There is one difference. Licensed casinos won't stop you from cashing in your chips. The bulk of binary brokers are deposit-only.

You don't have to believe me. The press and regulators have plenty to say on the subject. Here are a few of my favorites:

https://www.forexpeacearmy.com/comm...ud-advisory-alert-about-binary-options.25577/

https://www.forexpeacearmy.com/community/threads/the-fbi-warns-about-binary-options-fraud.49660/

http://www.timesofisrael.com/the-wolves-of-tel-aviv-israels-vast-amoral-binary-options-scam-exposed/

http://www.timesofisrael.com/i-trained-as-a-binary-options-salesman-for-a-day-it-wasnt-pretty/

If you value your money, avoid binary options.
 
just like what pharaoh said, binary option trading has been on a decline for quiet some time now, I ahve to admit even I was once pretty much interested in it, till i decided to stick to what works and thats forex. as much as possible i would highly suggest avoiding it anyway
 
Binary options trading has nothing in common with real market. They promise huge earnings, but in fact, it`s impossible to gain money. Binary option brokers gain, if their clients lose. It`s like a casino.
On the other hand, forex brokers gain on spreads, so it`s better for them, if traders win and trade more, so it is a fair trading. And your profit depends only on your skills and experience.
 
I was once amazed by the way how people showed me their account balance trading binary.
But down the line you must know the truth that it's nothing but betting your luck with the money yoy have in these systems.
Binary is very dangerous since there is no much regulations like how things are getting on in forex and to say forex is much better and great than binary.
 
Avoid them..!!!
they have nothing to do with the real market, you "gamble" against them..and if it happens you get some profit....its really hard to get back the won money and even your deposit.
Anyway even in the forex brokers affairs you should pay attention which broker put you in the real market (ECN brokers, No Dealing Desk) and which not (Market Makers, Dealing Desk)
 
Don't think that you really look for a piece of advice here... and I'll tell it mostly for the others who'll read this thread...
If there are some way to earn money by trading, it's futures, forex and stocks. not binaries. Just check out the difference between all of them and you'll see
 
...the market has barely moved and I made $4,000 with a really basic Martingale system.
To everything said above I just want to add that martingale system in trading (doesn't matter what kind of trading) eventually fails unless you have limitless money in your account to add up lots indefinitely.
 
I have done Binary Option trading and I will say my time was rather forgettable! Firstly, I see no sense in doing it if we could do Forex and then there are far too many scammers in Binary Option industry! In fact, it gets frustrating at times when you give your details to any broker, as every day they call you for investment and all that. I have even blocked so many such numbers and will never go to binary direction AGAIN!
 
For me honestly I am not comfort with binary option. I am comfortable with forex trading. But to give you answer I wanted to say that for some time from now it has been on a decline. But when I started forex I had seen any trader are doing this. Binary option seems me manual work very much. My suggestion is to avoid this binary option. If rally wanted to do currency exchange then go for forex trading.
 
Back
Top