Highveld Stereo is a tad too “frivolous” for me (no offence) and, well, I listen to 702 mainly to hear of the “business goings on” really.
Don’t get me “started” on the issue of traffic and TOLL ROADS (coming) here in Gauteng i.e. I’ll probably be BANNED OUTRIGHT from these forums if I got “started” on THAT issue!!! LOL!!! There’s NOTHING more that they can to do our existing highways i.e. there’s simply no more room left to expand them or add extra lanes and they’ve all, now, just become BIGGER “parking lots” and we will shortly have to be paying for “privilege” once again!!! LOL!!!
I guess we couldn’t be further off-topic if we tried here though!!! LOL!!!
I concur with Miles. Maybe it’s time for you to ‘chill’ & put all that displaced energy into your Forex trading or something else. Ever since u wrote your 1st post on B.O.(Buyer Beware) in 2011, you’ve put in an inordinate amount of energy posting on this subject. Sometimes u appear favorably disposed to BO. Other times u are back in your ‘buyer beware’ mode. My question for u is - why is this such a ‘big’ concern for you - especially since u made it clear, B.O is not for u? If you are not remotely open to trying out BO with a small account & see if u can make money with it - why not let this issue go & use all that energy in a more productive manner. If BOis not for u - than let it go. There are many folk out there who are profiting from B.O. Accept - what is!
To mitigate loss of profits, that is exactly how it should be done (per mikeman’s suggestion) - ie…u quickly extract your profits out of the hands of these Europe (cyprus) based BO firms & into your U.S. based banking accounts (or elsewhere) & trade on ‘house’ money. I’m delighted with the London based BO firm i’m with, because they offer ‘same day’ withdrawals with no fees. As soon as $1000 profits are made - they are coming out of that account & into my U.S. based bank accounts. I also trade BO with Nadex (U.S. based regulated exchange). I have a higher comfort level holding my profits a bit longer in my Nadex account. Now if Nadex only offered BO on stocks, I would have no reasons to go to an offshore BO firm to trade BO on stocks.
Do you mind sharing one or two of the handful of quality binary brokers that are out there. I’m looking for a back-up broker who accepts U.S residents. Thanks
Hi, the problem is that the reputable binary option brokers are either being regulated already or applied for regulation and it is pending which makes it impossible for them to accept US residents. You can thank the CFTC for that. You could take a look at StockPair and Royal de Bank (just google those names). I have not traded there myself so I can’t tell you from my own experience how good they are but I am planning to move some of binary options trading there and away from Option 24 (they have not done anything wrong from an operational point of view, but their customer service rep gave me wrong information in order to obtain some data she did not need. The issue was resolved, but enough for my to diversify away).
I’m trading with optionsxo from US and I never had any issues with them. The only minus is that they charge $25 for the first withdrawal of each month, but they do pay on time.
I never heard of them until just now. I was excited when u said they were from the U.S. I’m not aware of any Binary Options broker that is from the states (exception Nadex). I visited their site and found out they are from London, not the U.S. Still in all, they seem to have a good program. I could not believe that the minimum to open an account is only $25. I thought thatwi was a mis-print. I learned it wasn’t. Min investment per trade is only $10. One can also exit trades early too. Looks like may have found a winner.
Well as somone who is looking in to some sort of trading I am a bit confused as to the difference between ‘Binary Option Trading’ and trading on equities or commodities, which I presume is ‘Spread Betting’? It seems to me that Binary Option Trading is a mine field where you are likely to lose the shirt off your back one way or another, be it from bad judgement or through investing money with a crooked broker. Why then should trading on equities or commodities be any different? I know I am showing my complete ignorance but isn’t the mechanics of trading the same for binary options, equities and commodities. Is it that equities / commodities trading is carried out with more honest brokers?
Think I have confused myself here. They are all binary options aren’t they? You simply choose which ones to trade with or in. Oh well. I will get the hang of it eventually no-doubt.
The biggest problem (and something that only a few people have touched on) is investors psycology to trading. Why does any one think the threads on this site and countless others are filled with posts of people, NOT making money. 95% of traders lose? Of course. It doesn’t really matter what you use - share trading, spreadbetting, Forex, binary options? The truth is that most people simply don’t have the mental mindset to trade, the discipline and the nerve. No matter what medium you use for trading or what strategy you use, the odds are really never in your favour.
For those people, which is the vast majority, Binary Options are constructed in a way to simply exploit these weaknesses.
There are of course brokers out there who will push the boundaries but the end result is the same. The fast trading that they provide simply highlights this failure of the trader sooner.
so i’ve been reading this thread and the majority of posts state that it is of the opinion of most that binary option brokers make money when we lose money and that we are betting against the broker
most brokers in binary offer no spreads. - we all know that all spot forex brokers make money on the spread win/loss
binaries offer no spreads 1:1 leverage
HOW DO THEY MAKE MONEY?
Ans: they reason they pay you a percentage 50/60//75/81% return on your invest and not 100% is because there profit is the remaining 50/40/25/19%
E.G.
i do my analysis on my charts and it shows the market is in an up-trend
i invest $10 with a payout of 50% ($5)
i confirm the trade. and wait the time frame
lets say i win the trade my pay out is my investment + my return 50% so thats $10+$5 = $15
so my broker made $5 of my trade because they only pay %50 of the profit
after all they must be paid to use there platforms to trade
PLEASE NOTE THAT THE BROKER DO NOT LOSE MONEY AS WE ARE IN CONTROL TO TRADE WITH OUR MONEY WHEN WE MAKE MONEY THEY TAKE A PERCENTAGE OF IT
Nadex is apparently the U.S. operation of IG INDEX of London. IG INDEX is the oldest and most respected spread betting company in this country.How good they actually are, I have no personal knowledge.
