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Thread: Advice Please

  1. #1
    Solid Member DeborahB's Avatar

    Advice Please !!!

    I opened a demo account with MarketsWorld based on a recommendation here. However, I am also looking to fund a real account. My situation is that I only want to start with $200. If I go with Stockpair or UBinary, it seems the minimum trade is $20. That would put a 10% risk per trade, which is unadvisable. I am in the US. I am also in the process of opening a new free checking account and am waiting for my debit card. I figure, why give someone access to any regular account? I am opening this new checking account just for my BO investing. I still don't know what organization to open my live trading account with. I am not going to start "live trading" yet, just wanting to get it in the works. Thank you in advance for your help!

  2. #2
    Specialist Member marvel's Avatar
    Hi Deborah,

    That’s great you already opened a demo account. It will be great if you demo trade with MarketsWorld or with Comunitraders Platform, which is even better because you will have feedback for your trades from us here.

    You have to trade for some time, till you have more experience and knowledge, before moving to real account. I am trading with several brokers, all of them in the recommended list of BOTS site. For me it is dangerous to trade with other brokers simply because I won’t be sure about my money if I trade with not thoroughly tested and reviewed broker. 20$ per single trade is a really big if you start with 200$ for your first trading account, but if you start with 1000$ it is not that big (only 2% risk per trade) so if you have these money (1000$) you could deposit only part of them but keep the others as emergency fund for further deposits.

    This way your trading will be relatively safe. However I am not advising you to start real trading within your first month of learning, you need some confidence in your abilities and your strategy before moving to the next level.

    I hope this will help you

  3. #3
    Veteran Member Dan21's Avatar
    StockPair and Ubinary are accepting USA traders I know. I am trading with StockPair for many months so they are the best choice in my view among all the known binary brokers with good reputation.

  4. #4
    Legendry Member Michael Hodges's Avatar
    Marketsworld is a little questionable in my opinion. They are regulated by the Isle Of Mann as a casino so the rules they follow are not quite the same as other brokers. Ubinary is good, hopefully the CFTC and the binary community can come together soon on a solution for us in the US who want to trade spot binary.

  5. #5
    Active Member supertrader's Avatar
    Quote Originally Posted by Michael Hodges View Post
    Marketsworld is a little questionable in my opinion. They are regulated by the Isle Of Mann as a casino so the rules they follow are not quite the same as other brokers. Ubinary is good, hopefully the CFTC and the binary community can come together soon on a solution for us in the US who want to trade spot binary.
    All of us, USA based binary traders are waiting for new regulations and better choice for trading binary options. We have already few choices, but I think it could be much much better than the situation today if the procedure is easier.

  6. #6
    Specialist Member LesterK's Avatar
    Hi guys,

    I am also waiting for new set of regulations, which will allow more informed and safe trading possibilities for all USA traders. Also these regulations will give better selection of binary options brokers and thus better choice for all of us, as for now we have very few brokers available to USA based traders.

    PS I am working now in Illinois, USA and also have problems with broker selection

  7. #7
    Solid Member DeborahB's Avatar
    Dorothy..how did you get properly skilled? Can you help me?

  8. #8
    Rookie Member
    I am also trading with StockPair so I recommend that too

  9. #9
    Solid Member DeborahB's Avatar
    Dorothy..in case you missed my post..how did you get properly skilled?

  10. #10
    Specialist Member RCox's Avatar
    Quote Originally Posted by DeborahB View Post
    I opened a demo account with MarketsWorld based on a recommendation here. However, I am also looking to fund a real account. My situation is that I only want to start with $200. If I go with Stockpair or UBinary, it seems the minimum trade is $20. That would put a 10% risk per trade, which is unadvisable. I am in the US. I am also in the process of opening a new free checking account and am waiting for my debit card. I figure, why give someone access to any regular account? I am opening this new checking account just for my BO investing. I still don't know what organization to open my live trading account with. I am not going to start "live trading" yet, just wanting to get it in the works. Thank you in advance for your help!
    Deborah, it is nice to see that you are being as patient as you are and starting small with a limited account. It is always surprising to see how many new traders are unwilling to do this. 10% at risk per trade is far too much, especially in the early stages.

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