Binary option trading success stories
They will ask you for all sorts of documents for verification before letting you withdraw any money. Thus, always make test withdrawals before depositing larger sums of money. With regulated brokerages, it should not take more than a few days to withdraw money from your account.
There are many online reviews, endorsements and success stories about people getting tremendously rich easily by trading binary options. These reviews and testimonials are mostly fake and are often paid for by the binary options brokerages themselves and their affiliates. While there are indeed people who made a lot of money trading binary options, they are merely the exceptions rather than the norm and the path to success is anything but easy.
Be cautious of high pressure sales tactics used by representatives of binary option providers. They often call traders and pester them to deposit large sums of money by luring them in with big deposit bonuses. Often, it is necessary to trade 30 to 50 times the bonus amount in order to qualify for it but the sales people will always fail to mention this fact upfront.
In the end, most novice traders will often bust their accounts long before they qualify for the bonus. Many sites sell some kind of auto trading robots that will trade binary options for you. The website creates an account for you at a scam broker, then instructs you to make a deposit and supposedly you can then sit back and relax while it makes money for you while you sleep. Well there is one problem: Once again, if it sounds too good to be true, it usually is. Once you start winning consistently, some unscrupulous brokerages may actually begin to reduce the payout percentage to you.
If you trade regularly, make sure to open trading accounts with multiple brokers so you can compare their payouts. In binary options trading, you are betting against the brokers rather than other market participants. Hence, the broker only makes money if you lose. For their business model to be successful, more clients need to lose than win. However, this in itself does not make this a scam as all financial trading are zero-sum games. Your wins come from someone else's loss and vice versa.
It is only a scam when 1 The odds are fixed against you where you have absolutely no chance of winning and 2 You don't get paid even when you win. I finally gave up and realized that casino odds could never by beaten in the long run. I knew it wouldn't be a walk in the park to learn such a skill, but i started researching. But little did i know predicting market moves to a high probability was in no way easy. Let my also add I am a perfectionist, from day 1 i instantly had in the back of my mind "i need to find something which will predict these moves to an extremely high probability".
After further research i soon came to grasp the reality of trading. It was possible, and profitable, but you needed the market to actually MOVE big time to make excellent money. I was frustrated, then i found binary options. It seemed amazing when i first saw it, and it still is the great advantage with binary options is you dont need a huge market move to attain great amounts of profit.
Ill cease ranting on about it, but its amazing how far ive come. I would love to give you all a formula of step by step approach on how to conquer the markets to an extremely high probability, and ill tell you now its possible, but it simply wouldnt work as if i did so you all would not understand the psychology behind it, that is very important i believe.
To become successful is a learning curve which is best done on your own.