I’m Nelson, from the UK and have started with my first steps towards getting enough knowledge on how to effectively trade on Forex. I opened two weeks ago an account on a Binary trading broker, but definitively decided to close it .
Greetings Nelson and welcome to the BabyPips.com community! Just curious, why did you close your binary trading account?
Hi dear, the thing is that I came to the conclusion that the money I had invested…$250 as the minimum you’ve to have to open the account -it was a waste cos’ they want you firstly to follow the electronic library teachings, webinars and so forth… though there was appointed a so called account manager that would call me nearly everyday…, and after seeking advice from a friend who actually recommended to firstly join the babypips.com and so learn for free…until I would become with enough knowledge and infofrmation not only about Forex but how to analyse the trends in the international markets, and actually that’s what I’m doing now! learning at my own pace step by step without no pressure neither any form of persuasion from any broker!!! I’m extremely thankful for the creators of this forum for such a vast information resources made available for free!!! Thank you guys… keep up the good work of Love.
Opening a binary trading account, from what little I know so far anyway, is not necessarily a bad thing. The bad thing, imo anyway, would be thinking that all trading is created equal.
Also, and this was the cheesy subject of a bunch of PSAs (Public Service Announcements) here in the U.S. when I was a kid, “knowing is half the battle.” The more you know the more likely you are to be able to make money.