Good morning,
No offence is meant by this post New24ex but did you actually READ the thread starter’s post and the link to my post on the subject???
I thought I’d Google them for you (which I did) (and you can do the same if you so badly want to know about them). To my surprise though: I see that there are NOW a few (some KNOWN) spot FOREX brokers offering Binary Options)??? Now THERE’S a ‘conundrum’ for you (me).
Remember one thing though: scam or not. If you cannot trade ‘normally’ or read a chart you’re STILL not going to make money. ‘Trading’ Binary Options (well these ones that advertise $1 000 000 profit in 45-seconds anyway i.e. ‘the pretty skirt’ ones) is no different than trading on a fifteen minute or a one hour timeframe (and in some cases at some Binary Options Brokers the daily or weekly timeframes). The only difference really is that once you’re in the ‘trade’ you’re ‘in’ and cannot get out until the Binary Option expires ‘in the money’ or ‘out of the money’ (and even that’s not strictly true anymore i.e. SOME of these ‘bucketshop’ Binary Options Brokers I see allow you to close the ‘trade’ early before a certain ‘time limit’ has been reached). The only Binary Option types that MAY be different from ‘normal’ trading are the ones that expire ‘in the money’ if price closes WITHIN a certain range or OUTSIDE of a certain range within the Binary Option ‘time limit’. Other than that: it’s no different from setting a stop and a TP and trading ‘normally’. And of course: there’s the HUGE ‘promised profits’. Think for yourself: a good trader that knows how to ‘call the market’ ‘short term’ could quite easily bankrupt a ‘bucketshop’ Binary Options Broker with ease (if they didn’t manipulate or spike price JUST before the Binary Option was above to expire ‘in the money’ OR delay the closing of the Binary Option before it ‘expires in the money’ which seems to be the ‘trick’).
Binary Options (and I’m talking about REAL Binary Options as offered by the CME or CBOT are mainly used for ‘insurance’ on a real trade. They’re not there (not theses ones anyway) as a profit making ‘vehicle’.
So the way I see it: this, and my post referred to above, are the only ‘helpful links’ you need!!! LOL!!!
Regards,
Dale.