Results 1 to 8 of 8
  1. #1
    Rookie Member

    Lightbulb Now what should I believe? !!!

    Hello,

    This is my first post here and also I am new to BO. I am doing a lot of research about BO and the right broker to trade until I found this site. I am very confused actually. Most of the places I got information says that BO is a scam and that 99% of the brokers are a scam, there are a TON of brokers offering it, most are from shady places in the world. especially the one that come from Cyprus. Also worrisome, many of the Binary Options companies seem to be owned by companies that also own online casinos. Why these companies like Bank de binary, TopOption, OptionFair, Stockpair, 24Option and so on ask for a photocopy of your credit card and a photocopy of your passport and/or ID in order to register with them? Why do they need those private and confidential documents?

    Also, so many people have reported that extracting their profits from binary brokers is difficult, if not impossible. Binary options brokers are the house when you trade with them. Simple and plain. If you think they forward your trades onto an exchange or anything like that you are sorely mistaken. A business is a business and in that particular business model if you win they lose simple as that. Now what should I believe? Please do not answer one specific topic, but try to get a scope of your answer as a whole.

  2. #2
    Solid Member Murphy13's Avatar
    Hi wlippo,

    Welcome to CommuniTraders!

    You probably saw our big and very active community. We wouldn’t be so enthusiastic about binary options if they all were scams and shady brokers. There are some brokers which are quite reliable to trade with them without fear of scam. However much experience is needed to make it a profitable venture! On your second question about the documents they are asking. It may seem a bit suspicious but this is a regular practice in all brokers, forex, stocks and.. binaries. It is used to prevent money loudening and some other frauds which can be done with false personality. So don’t be afraid of giving your details on a good broker. However there is a small risk that if you give your details to a shady broker it may use them for his own purpose, but I think this is rarely possible. Check the binary brokers which are thoroughly tested and examined here and you will find where to start your research and how to find good brokers. There are many articles on the trading school which also can help you greatly!

    If you have any questions let us know and we will help!

  3. #3
    Administrator Martin Kay's Avatar
    If you have a doubt, have no doubts. If you are unsure about binary options - don't. I'm trading, lots of our members are trading, but it should certainly not effect your decision. Know the risk, play the game.

  4. #4
    Rookie Member
    So How can I learn and become a day trader? where do I have to go, what do I have to read....what do you read to decide where are you going to invest in BO? what is your daily "ritual"? or any of yo guys? Please share. The more I read the more lost I am...I do not know where to begin and how to begin studying and learning about B.O.

  5. #5
    Legendry Member Okane's Avatar
    I started by studying 2 or 3 months before I even began demo-trading and
    still kept learning and reading and I still do.
    I think that was the reason why I evolved so much in such short time.

    where do I have to go? - You are already where you should be.

    what do I have to read? http://www.binaryoptionsthatsuck.com/school/

    Daily ritual differs from person to person but I believe we all have something in common: Finding out what the news say and when they are announced.
    Leave that for now, focus on learning and getting through school first!
    Good Luck!

  6. #6
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by Okane View Post
    I started by studying 2 or 3 months before I even began demo-trading and
    still kept learning and reading and I still do.
    I think that was the reason why I evolved so much in such short time.

    where do I have to go? - You are already where you should be.

    what do I have to read? http://www.binaryoptionsthatsuck.com/school/

    Daily ritual differs from person to person but I believe we all have something in common: Finding out what the news say and when they are announced.
    Leave that for now, focus on learning and getting through school first!
    Good Luck!
    Yeah, binary is confusing. Over the past two years my feelings toward them have ebbed and waned as I learned more and more about the industry. yes a lot of them do come from the online casino world but that is where the interest started. Then forex traders discovered that binary was easier/better than spot forex and a lot of them switched. Now there are at least two schools of thought, speculation or gambling. Both are possible with binary but both are also possible with any kind of investment vehicle, it jjust depends on your approach. Using the right broker, staying away from bonuses and 60 second trading, providing the right documentation and using the right deposit methods are all important details for a successful binary trader. As for learnings, Okane is right. The school section is well stocked, I know because I wrote maybe half the articles that are in it, plus the ones that Bogdan and others have written, including Okane here. The book you should read though is Martin Prings "Technical Analysis Explained". Its the uber bible to technical analysis, the art and science of financial speculation. Then move on to "Reminiscences of a stock market operator", the story of Jesse Livermore, the greatest stock trader to ever live.

  7. #7
    Legendry Member milos's Avatar
    Quote Originally Posted by wlippo View Post
    Hello,

    This is my first post here and also I am new to BO. I am doing a lot of research about BO and the right broker to trade until I found this site. I am very confused actually. Most of the places I got information says that BO is a scam and that 99% of the brokers are a scam, there are a TON of brokers offering it, most are from shady places in the world. especially the one that come from Cyprus. Also worrisome, many of the Binary Options companies seem to be owned by companies that also own online casinos. Why these companies like Bank de binary, TopOption, OptionFair, Stockpair, 24Option and so on ask for a photocopy of your credit card and a photocopy of your passport and/or ID in order to register with them? Why do they need those private and confidential documents?

    Also, so many people have reported that extracting their profits from binary brokers is difficult, if not impossible. Binary options brokers are the house when you trade with them. Simple and plain. If you think they forward your trades onto an exchange or anything like that you are sorely mistaken. A business is a business and in that particular business model if you win they lose simple as that. Now what should I believe? Please do not answer one specific topic, but try to get a scope of your answer as a whole.
    You should believe here is link below
    http://www.binaryoptionsthatsuck.com...-brokers-suck/

  8. #8
    Moderator Kolyo's Avatar
    Quote Originally Posted by Michael Hodges View Post
    Yeah, binary is confusing. Over the past two years my feelings toward them have ebbed and waned as I learned more and more about the industry. yes a lot of them do come from the online casino world but that is where the interest started. Then forex traders discovered that binary was easier/better than spot forex and a lot of them switched. Now there are at least two schools of thought, speculation or gambling. Both are possible with binary but both are also possible with any kind of investment vehicle, it jjust depends on your approach. Using the right broker, staying away from bonuses and 60 second trading, providing the right documentation and using the right deposit methods are all important details for a successful binary trader. As for learnings, Okane is right. The school section is well stocked, I know because I wrote maybe half the articles that are in it, plus the ones that Bogdan and others have written, including Okane here. The book you should read though is Martin Prings "Technical Analysis Explained". Its the uber bible to technical analysis, the art and science of financial speculation. Then move on to "Reminiscences of a stock market operator", the story of Jesse Livermore, the greatest stock trader to ever live.
    That’s a great comment by our fellow Michael. I couldn’t say any more for now. I am also coming from the world of forex trading and can definitely say binaries are more easily digestible and better for newbie traders to start with trading

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
3