Confusion with binary payouts

[bigdolly]

Well, I went the length of trying options, opened account with optiontrade but was confused at the first step. There are different trading types such as touch, 60 sec, long term, but inspite of fixed deposit, for example 100$, payouts are significantly differs from 75% to 560%. Where are the pitfalls? Is there is something I am missing?

Need help. Thanks

 

[GOR FX]

Well, I went the length of trying options, opened account with optiontrade but was confused at the first step. There are different trading types such as touch, 60 sec, long term, but inspite of fixed deposit, for example 100$, payouts are significantly differs from 75% to 560%. Where are the pitfalls? Is there is something I am missing?

Need help. Thanks

revert back to forex or you will soon be screaming that you got scammed. Till the time that these companies will be regulated, the best thing for you to do is keep away

 

[Pharaoh]

Binary options is like a casino. There's no liquidity provider, so all of your losses go to the house and all of your winnings come from the house. Although a few people can walk out of a casino with more money than they started with, the house always wins in the long run.

The ONLY hope in binary options is to get lucky with one if the few brokers that really does process withdrawals. It's not worth it.

As GOX FX said, learn to trade forex. Then find yourself a well-regulated ECN or STP broker.

 

[undertaker]

BO trading is simpler than Forex a lot and actually I don't know how a BO trading earn money, it's like they are a house and they are fighting against trader (I think so, not sure since I just started with BO trading). But if you really want to trade, please stik with regulated well-known broker,... With this new trading, don't play with unregulated one.

 

[Jussar]

It is quite normal to get confused at first, I guess.
Is there a strategy that the trader should follow or things that s/he needs to take into consideration in order to make a successful trade?

 

[Pharaoh]

For Binary options, all you have to do is successfully guess whether the closing price of your option will be above or below the current price.

Oh, and a few other things you need to do:

Trust that the broker (which has NO liquidity provider) won't manipulate prices.
Trust that the broker isn't selling your contact info to other questionable investments.
Trust that the broker won't sell your ID to identity thieves.
Trust that the broker will pay any profits you earn if you are lucky enough to overcome the odds which are already stacked against you.

The SEC and CFTC share my concerns on these issues:

https://www.forexpeacearmy.com/fore...raud-advisory-alert-about-binary-options.html


Trading forex is a little more complicated, but you have far more control. You can set your own targets for taking profits and stopping losses. You can manually close a trade when you feel the need. If you catch a good trend, you can trail your SL and scale in to your position. When the trend starts to fade, you can close all of your position or scale out using partial closes.

You can also do something impossible with binary options - find a broker that gives you an ECN connection to major LPs.