I have read MULTIPLE COUNTLESS forumns and reviews regarding binary trading and brokers. I have heard good and bad reviews from multiple binary websites and still do not know what to follow. Based on my readings, I have READ THAT 24OPTION and Spread Betting | Financial Spread Betting, are legit and will not scam you. I wanted to get into binary trading at a legit website so any feedback on these 2 are greatly appreciated.
Hello All !
Im using MT4 with BO charts and a 60 second chronometer and also excel to log my trades. Its kind of a home made demo.
Im making profit with my strategie.
Ive opened an account before in X broker (regulated by Cysec) and ive been in contact with them and having spoken with a senior broker that didnt pressure me to make any deposit because i said i wanted to trade alone and the amount im willing to deposit is only 250 euros and that was not appealing to her.
She said to me that on every winning trade i win the broker X wins 2-4 % and obviously cheered me up because me and the broker are in the same side.
In all my contacts and info with broker X there were no flaws because live chat, compliance and the senior broker they all were consistent with the info they provided.
Im fired to make my first deposit…but…now i see this forum saying the brokers are scammers and manipulate prices and so on !
I just want to know for sure how binary options brokers have profit with traders that win consistently ?
I think thats the answer that needs to be clarified because that will determine the brokers attitude toward clients/traders.
I thought it was a win/win situation for brokers and a win/lose for traders.
Best regards
24 Option is the market leader and if you want to trade this (fairly) new asset class then you may want to stick with the market leader. As far as I know they have applied for regulation so some of those scam worries may be taken off the table
Binary Options Trading Brokers they operate different from Forex Brokers (regulated or not), even the price display on their website not the same if you need more clearity about that check the truth about binary options trading
Hello Everybody
I started Binary Options Trading about 15 month ago and I must confess that during my first 3 month I lost money, I´VE JUMPED INTO IT WITHOUT HAVING a strategy and a trading plan. So i decided to trade only Demo for another 3 months to get more experience. Since about 9 month I´m profitable and really happy to have an extra income because I´ve lost my job. Of course there are a lot of Brokers who work against the clients and don´t pay your profit, but the majority are honest and some of them are regulated too. I´m not sure if it´s allowed to name the Brokers,
The best Brokers have a 3rd partie which provides liquidity and the Broker gets 3-4% of every trade independent of the outcome, so therefore they are interested that people trade as much as possible, and some even help you to succeed because they want that you stay in the game.
Good Trading ( and please excuse my not so perfect english, I´m Austrian)
PARSIFAL23
My logic is pretty simple:
Firstly as much as Binary Options involve financial elements, and just like a casino, there is a winner and a looser. In most cases the phrase " The house never looses" holds. Else if these guys could have closed shop a long time ago.
In binary options gambling- you are playing against the house (( so called liquidity provider)) , why would the house help you win against it?? Well obviously something is off there.
The concept of using liquidity providers in Forex to provide leverage is quite different, because the bank is also involved in the trades in the big league against other banks. So they don’t really care if you win or loose, things will always change, they will trade and make their money. On the other hand the casino has to rely on people loosing money, and if they don’t, then business will be toast.
That’s my opinion though.
Grix
Hi Grix !
I´ve made the point that are DIFFERENT TYPES OF BINARY OPTION BROKERS : 1. Many of them are the market makers and play against you, right, no questions, but 2. There are some serious and honest Brokers out there that use a Bank to get the necessaray liquidity and these Brokers really want you succeed : I´m a newbie here and therefore not allowed to tell you which of them, so you have to find out for yourself.
My personal account manager is of great help, calls me nearly every day and gives me some hints, which are profitabel most of the time, you can´t put all of them into the same basket. I needed time and effort to find the right ones but for me it turned out to be a great thing and I´m thankful for my monthly paycheck.
There are also Spot Forex Brokers who will scam you and work against you, the important point is to find somebody you can trust.
parsifal23
P.S.: Somebody mentioned the so called market leader above but I can tell you from my own experience that there are better ones ! The so called market leader needs several weeks for withdrawels, I get my money within 2-3 days, that´s a huge difference !
AND ANOTHER IMPORTANT POINT . My Broker IS NOT LOCATED IN CYPRUS and he gets his data feed from Reuters, I´ve prooved it dozens of times and it´s correct every single time !
See what Parsifal, I get the feeling that you are trying hard not to mention names here, and you shouldn’t. Well you mentioned a “personal account manager” who I suppose gives you signals all the time and you place your bets. I am really not interested in brokers or any account managers- too experienced-… So I gotta ask you this, you wanna tell me that you are profitable and getting an income from betting, yet you cannot make an independent trading decision?
Well , it looks to me that you don´t want to understand me and that´s perfectly ok, since I don´t want to convince anybody.
I´m not allowed to place any sreenshots to prove my point, 4 out of 5 times the trading decision is my own, but still I´m grateful to get some high probabiliy trade signals which helped me a lot in the past.
Like with anything else in Live you have to look for the best provider to prevent you from getting disappointed, nothing more I wanted to share. I don´t even put some numbers here (about my monthly profit) because I don´t want to offend anybody.
I´m member of another forum too where I can share my experience with thousands of other Binary Option Traders.
In my opinion there isn´t a huge difference between Spot Forex and Binary Options and BOTH have nothing to do with gambling (at least not for me): If someone looks at it that way he certainly will blow his account in no time, no question.
Of course I´m not perfect yet, but I´ve tried my best during the past 15 month to study charts and read a dozen books about that matter, therefore yes, I am able to make independent decisions too.
Thank you !
P.S.: During the last hour I´ve read many of the comments in this blog and it is obvious to me that there is a lot of useful information AND a lot of misunderstanding too based on bad experience with offshore Brokers. I must emphasize that your success or failure depends on the Broker you´re choosing.
- Any honest Broker will not manipulate the price of any underlying asset !
- You better get verified your account by sending the required documents beforehand.
- Take care that customer-service is avaiable at any time.
- Make sure there is no time-delay when the option expires and compare the rate with an in dependent chart-software.
- Look if there are longer term options avaiable (like end of day, end of week or end of month) This will give you more flexibility
- Payout rates may differ from 65 % to 95 %: Choose a Broker with a high payout rate
- Please DO NOT ACCEPT ANY KIND OF BONUS , that´s one of the main reasons people run into trouble because they´re not aware of the implied conditions
Hello, between advertising and some reviews like “binary option : a scam”, I will try to give you my personnal review…For me, binary options are not a scam only if you take some advices and informations before you start trading. That’s sure that binary option is not THE “insured earning” as some bad brokers can tell you. But it’s A way to earn money if you do it well. To begin, I took a lot of informations about each broker, I had a look on a lots of websites of advice and forums. Bad brokers are really easy to discover finally. My first criterion was the reputation of the broker, then I wanted fast and garanteed withdrawals and then if it offers formations. If you take the time to learn about financial market and to take some advice, you can really earn money with binary options. I’m working with Traderush and I already won some dollars. I choose it thanks to the website bonusbinaryoptions.net which offer you some good comparative tables and a good garantee if you have some troubles with a broker. Have a good day !
My Guess is right, the next thing will be to throw a brokers name here. Well am a little too experienced…
Grix
No, Mister, your guess is wrong : I won´t give you the name of my Broker even if you agree to pay me thousands of Dollars, you simply don´t deserve it. I know what I know from my own personal experience and it really doesn´t matter to me what you or anybody else is thinking, this is definitely my last post here ´cause I don´t want to waste my time.
So, 2 years later since the first thread was posted, is Binary Options scam or not?
Hi everyone,
I am new at this site and it seems quite good!! I am not doing some “home research” about Binary options, cause i´ve heard both good and bad things about them, and i don´t really trust most of the brokers that offer them…
@parsifal23 what brokers do u recomend us to use? I think such as @dpaterso that they can be an excellent vehicle for successful trading, if u know how to use them correctly eg news trading, chart analysis… but i also think that it would be great for the market to get brokers that offer secure binary option investments, with many options such as hourly, daily, weekly… cause the longer period u use, the smaller the risk is to suffer manipulation from the broker, cause in a daily option you will barely notice one or 2 pip variation…
So, who trades with binary options? What decent and regulated brokers do u recommend?
Thanks!!
Regards,
Those are my questions as well. Some people, in this forum, seem to use Nadex (Since I can’t post a link, search for “[B]Binary options Huge profit potential[/B]” using the search box on the top right of this page).
Like I said above, I cannot name my Broker, but it should be easy for anyone to search on Google for Binary Options Forums, where you´ll find excellent information and education together with a list of recommended and regulated Brokers.
Use a demo-account first, start with the minimum - deposit, until you get familiar with everything. Nadex is a little more complicated, but once you understand the platform it offers a lot of features (for non US-Residents IG-Markets is more or less the same).
I have been playing with or looking at Binary Options for about a year… Opened an account at bac de binary (no more US traders)… Only $250… doubled it and lost it all…Don’t ever trade 60 seconds options after a few glasses of wine.
I now have small (uner $1K) accounts ar TradeRush and 24Option, Trade more at TradeRush because I love the ability to cancel in the first 3 seconds… I only trade 60 second options on the EUR/USD… After about 200 trades over the last month I am up 25%… I can make money at this…Still have concerns about the brokers… Can it continue and can I get my money out when I want it…
My biggest unanswered question… Am I trading against the broker, or does the broker win when I win? If they are motivated to halp me win, I am fine, but until I know that answer, I consider this a gamble…
I am stil unable to understand that is binary option is good or bad .Need simple examples .
[QUOTE=“velgengni;512161”]So, 2 years later since the first thread was posted, is Binary Options scam or not?[/QUOTE]
No it not a scam
Maybe the sh itty broker that offer them a scamming " broker"
But binary is just a investment structure / products ( in fact - binary is just 2 options together )
It like saying options , share , spot fx , bonds are scam too
The easy way at looking at binary is - yes or no investment like betting head or tail
Eg Will the Aud/usd drop 100 pip in the next week - yes or no
Now you can either short a mini fx and have a 100 pip take profit and a 100 pip stop lost
So in 1 week - Your only out cone are :
with fx - hits your stop lose or take profit 100 pip or some where in between ie : the market doesn’t move and only made eg 1 pip profit or only -50
With binary - if you made the same guess that aud/usd will drop 100 pip in a week .
Your only out come is . Correct or wrong
You will either make $x or lose $x
The outcome will be pre set when you open the trade eg. Win $100 or lose $40 or win $10 or lose $300
With options fx it kinda the same
But when you buy your loss is cap at a limit and profit are unlimited
Sell - profit are caped at a limit and loses are unlimited
So in turn - there is nothing called “binary options”
They are either direct investment ( share, fx etc ), options , or binary
It’s not a scam if you do it carefully.I thing choosing a regulated broker is finally the best advice I can do. TopOption is regulated and have good reputation in the binary options forum. You can also find website which offers a bonus with TopOption like bonusbinaryoptions.net . There is also a test of the TopOption platform on this site, so you can make your own opinion about this broker.