Brian Shaw
Highly suspicious person
- Messages
- 18
I agree with you Pharaoh. You have a good knowledge about binary options and the trading business. I have always considered the weight of your thoughts in this site.
-
Please try to select the correct prefix when making a new thread in this folder.
Discuss is for general discussions of a financial company or issues related to companies.
Info is for things like "Has anyone heard of Company X?" or "Is Company X legit or not?"
Compare is for things like "Which of these 2 (or more) companies is best?"
Searching is for things like "Help me pick a broker" or "What's the best VPS out there for trading?"
Problem is for reporting an issue with a company. Please don't just scream "CompanyX is a scam!" It is much more useful to say "I can't withdraw my money from Company X" or "Company Y is not honoring their refund guarantee" in the subject line.
Keep Problem discussions civil and lay out the facts of your case. Your goal should be to get your problem resolved or reported to the regulators, not to see how many insults you can put into the thread.More info coming soon.
Where can I learn binary options
- Thread starter Azlan00IM
- Start date
I agree with you Pharaoh. You have a good knowledge about binary options and the trading business. I have always considered the weight of your thoughts in this site.
Being a perfect opening for newbie BO brokers has easy and attracting platform with ultimate set of functions (call, put, double, etc.) Note, that it requires far less trading margin as you don't purchase the asset directly but buy derivative contract with earnings yield riding on the likelihood of price hits certain level (expire "in the money" or "out"). Before poking in, get a clue about how the option contract works, what is the strike price and premium, price of the option and its connection with volatility of the market (also known as Black-Scholes equation). Here are free resources you can find even more:
Binary Option Definition | Investopedia
https://en.wikipedia.org/wiki/Option_(finance)
Video Tutorials | Option Trade | Binary Options Trading | The Reliable Option
Webinars | Option Trade | Binary Options Trading | The Reliable Option
But for my broker tutorials and webinars I would still marking time drifting thorugh forums and grumbling about its scam nature.
Best of luck!
Thanks to you bigdolly. The links you give could be a big help in my first few steps towards a good binary options trading experience. I will take time to read those.
The accusation of BO brokers of being all scam or sooner than later will become And the BO Concept as unfair and comparing it to Casinos is becoming enormous!!
Lets sort this out. There are maybe 80% of BO brokers between unregulated and pure scams and some 70% Forex brokers under same category.
That does not mean Traders can't find an honest regulated broker in the left 20% that accept withdrawals as they do with deposits and run fair services.
BO concept having 70-90% payout does not mean it is Scam and unfair. Look at it from both sides, when you are a successful trader, can succeed in BO when the broker is dealing well.
The 60 Second might be similar to casino gambling but if you want to talk fair, what if you are that lucky in news trading or if pure gambler, what if you chose the right side more than the wrong one??? As much as the broker can win(or you loose) as much as you can win too.
Fed of people who never tried Binary Options trading to say its gambling and simplifying it by trying your luck in choosing call or put!!
That's totally unacceptable. Many of those who say that are not even forex traders. they know nothing about trading the markets.
They want to succeed in BO without having any Forex knowledge. In this case, not BO but you are the Gamblers!!
Who want to succeed in BO must first be a Forex Successor. without using the charts, indicators you trade on your forex broker mt4 platform, and apply it to BO trading, you'll never succeed.
When you can do that, you'll figure that BO is not gambling. If you trade Forex on high time frame charts like 1-4 hours to daily, weekly or monthly/
Ofcourse, you have a plan that for example EUROUSD will go to 1.36 after a week 2 or a month if you are a buyer. Taking a Forex buy order depending on that. Is it hard for you to open a BO buy order and setting expiry for same time frame you think it will end up??
The same for Forex Scalpers who trade the 5-15-30 minute charts, how are you doing so in Forex?? Not predicting or analyzing that a pair will go up lets say 10-20 pips in that time frame, setting TP and SL accordingly??? you can suppose the same in BO. Selling a pair because on your forex chart it says that after 5-30 minutes the price will end up down by 20 pips. you even have more chance in BO because you just want it to end down by 0.1 pip to take back your investment and gain the payout amount.
There are also 1 minute time frame scalpers in Forex, so the 60 second is not out of their business
In BO, if your order end up loosing, you'll take back nothing, except some brokers give back some % of money if you had at first used like 70%-10% or 60%-30% or 50%-40% ratio. In Forex, the same result if your order end up filled by SL price, you'll end earning nothing.
BO is just another version of trading in the markets. Stop giving false opinions that does not belong to reality.
Lets sort this out. There are maybe 80% of BO brokers between unregulated and pure scams and some 70% Forex brokers under same category.
That does not mean Traders can't find an honest regulated broker in the left 20% that accept withdrawals as they do with deposits and run fair services.
BO concept having 70-90% payout does not mean it is Scam and unfair. Look at it from both sides, when you are a successful trader, can succeed in BO when the broker is dealing well.
The 60 Second might be similar to casino gambling but if you want to talk fair, what if you are that lucky in news trading or if pure gambler, what if you chose the right side more than the wrong one??? As much as the broker can win(or you loose) as much as you can win too.
Fed of people who never tried Binary Options trading to say its gambling and simplifying it by trying your luck in choosing call or put!!
That's totally unacceptable. Many of those who say that are not even forex traders. they know nothing about trading the markets.
They want to succeed in BO without having any Forex knowledge. In this case, not BO but you are the Gamblers!!
Who want to succeed in BO must first be a Forex Successor. without using the charts, indicators you trade on your forex broker mt4 platform, and apply it to BO trading, you'll never succeed.
When you can do that, you'll figure that BO is not gambling. If you trade Forex on high time frame charts like 1-4 hours to daily, weekly or monthly/
Ofcourse, you have a plan that for example EUROUSD will go to 1.36 after a week 2 or a month if you are a buyer. Taking a Forex buy order depending on that. Is it hard for you to open a BO buy order and setting expiry for same time frame you think it will end up??
The same for Forex Scalpers who trade the 5-15-30 minute charts, how are you doing so in Forex?? Not predicting or analyzing that a pair will go up lets say 10-20 pips in that time frame, setting TP and SL accordingly??? you can suppose the same in BO. Selling a pair because on your forex chart it says that after 5-30 minutes the price will end up down by 20 pips. you even have more chance in BO because you just want it to end down by 0.1 pip to take back your investment and gain the payout amount.
There are also 1 minute time frame scalpers in Forex, so the 60 second is not out of their business
In BO, if your order end up loosing, you'll take back nothing, except some brokers give back some % of money if you had at first used like 70%-10% or 60%-30% or 50%-40% ratio. In Forex, the same result if your order end up filled by SL price, you'll end earning nothing.
BO is just another version of trading in the markets. Stop giving false opinions that does not belong to reality.
Pharaoh
Brigadier General
- Messages
- 20,309
It's not false opinion at all.
Simple facts:
1. All casinos are bucket shops. All client winnings come from other client losses.
2. All binary brokers and some forex brokers are bucket shops. All winnings (if they can be withdrawn at all) come from other client losses.
3. When trading or gambling with a bucketshop, your losses are the company's income. Your gains cost the company money. This creates an instant conflict of interest. This is also one of the reasons why bucketshops are illegal for items traded on most regulated exchanges.
4. Bucket shops can be enormously profitable, but if enough people manage to become profitable, they can and do go out of business. Physical casinos have long experience in calculations of this sort and very very rarely go out of business. Trading bucketshops have a bad habit of disappearing with all client money, especially if clients do unexpectedly well.
5. Physical, regulated casinos are carefully monitored to prevent cheating, to prevent refusal to pay winnings, etc. Online bucketshops (forex, binary, casino) are typically unregulated or under-regulated. The complaints about withdrawal issues and other cheating speak for themselves.
6. I've seen a total of 5 well regulated binary companies listed so far, and I'm not certain if either or both of the 2 in the UK are truly FCA or just passported. Compare that with the numbers and percentage of forex brokers under the same regulators.
7. Better forex brokers either hedge net client positions frequently or even pass every order to the real market. These are less profitable than bucketshops, but are at no risk even if the net result of client trading becomes tremendously profitable.
And finally some speculation - you can prove me right or wrong on this one:
Do some research on the background of many of the early entrants to the binary market. I'll bet more can be tied to online casinos than to forex brokerages.
Simple facts:
1. All casinos are bucket shops. All client winnings come from other client losses.
2. All binary brokers and some forex brokers are bucket shops. All winnings (if they can be withdrawn at all) come from other client losses.
3. When trading or gambling with a bucketshop, your losses are the company's income. Your gains cost the company money. This creates an instant conflict of interest. This is also one of the reasons why bucketshops are illegal for items traded on most regulated exchanges.
4. Bucket shops can be enormously profitable, but if enough people manage to become profitable, they can and do go out of business. Physical casinos have long experience in calculations of this sort and very very rarely go out of business. Trading bucketshops have a bad habit of disappearing with all client money, especially if clients do unexpectedly well.
5. Physical, regulated casinos are carefully monitored to prevent cheating, to prevent refusal to pay winnings, etc. Online bucketshops (forex, binary, casino) are typically unregulated or under-regulated. The complaints about withdrawal issues and other cheating speak for themselves.
6. I've seen a total of 5 well regulated binary companies listed so far, and I'm not certain if either or both of the 2 in the UK are truly FCA or just passported. Compare that with the numbers and percentage of forex brokers under the same regulators.
7. Better forex brokers either hedge net client positions frequently or even pass every order to the real market. These are less profitable than bucketshops, but are at no risk even if the net result of client trading becomes tremendously profitable.
And finally some speculation - you can prove me right or wrong on this one:
Do some research on the background of many of the early entrants to the binary market. I'll bet more can be tied to online casinos than to forex brokerages.
Hi Salim. I have browsed through your resources and found them informative and useful. Thanks v much.
Brian Shaw
Highly suspicious person
- Messages
- 18
Thanks for the links. I've read through the topics (esp. in the first link) and I think they can be of good use for an aspiring binary options trader like me.
I particularly like the first link. I bookmarked it for reference. Thanks a lot corporal.
Can't understand why we are arguing on this at first Am against bucketshops in Forex, Binary Options and Whatever Business as much as you are.
Lets set our focus at the regulated brokers, deeply investigating each, looking into its pros and cons to help traders who like the BO concept benefit from our discussion. That if you will agree with me that the BO concept is another way of trading the market, then we can start from here on.
Am against bucketshops in Forex, Binary Options and Whatever Business as much as you are.Lets set our focus at the regulated brokers, deeply investigating each, looking into its pros and cons to help traders who like the BO concept benefit from our discussion. That if you will agree with me that the BO concept is another way of trading the market, then we can start from here on.
Brian Shaw
Highly suspicious person
- Messages
- 18
In my own opinion, binary option can be considered another way or trading the market. It just happens that many
unscrupulous business individuals choose binary options as the front for their mode of operation. It is one of
the reasons why it has been labeled as "scam". It is not really easy to find a trustworthy BO broker these days.
unscrupulous business individuals choose binary options as the front for their mode of operation. It is one of
the reasons why it has been labeled as "scam". It is not really easy to find a trustworthy BO broker these days.
"4. Bucket shops can be enormously profitable, but if enough people manage to become profitable, they can and do go out of business. Physical casinos have long experience in calculations of this sort and very very rarely go out of business. Trading bucketshops have a bad habit of disappearing with all client money, especially if clients do unexpectedly well."
To me, it wouldn't matter if binary option trading platforms or brokers become bucket shops as long as they play a fair game, pay traders returns and release traders' funds. I really hope to find one that I can trust with my investment.
To me, it wouldn't matter if binary option trading platforms or brokers become bucket shops as long as they play a fair game, pay traders returns and release traders' funds. I really hope to find one that I can trust with my investment.
Similar threads
