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  1. #1
    Veteran Member randy1953's Avatar

    My talk with 2Options !!!

    I had a very interesting talk with 2Options as a possible broker.
    First this broker was able to give me a very good welcome package as far as my $500 deposit.
    I need to know they are legit as the old story if it sounds too good watch out.
    Anyhow they told me that he will give me up to the amount of the deposit in risk free trades in my case $500.
    This does not mean the first 5 or 10 or maybe even 20 trades are risk free it means that the total of my loosing trades reaches $500 is risk free so I can just trade away and maybe never even hit that number but know I am protected at a 10 times turnover.
    I like that part.

    Ok another thing this manager told me and I am putting this out for comment to all here.
    First as you know I am a newbie at trading Binary options and I still have no real good idea on how brokers work.
    I brought up this question to him about my issues with SpotOption how I felt there was always slippage involved as example I do a put on 124.294 but it gets approved at 124.286. He then went on to explain to me that this is NOT slippage at all what happens is when I create this 60 second option the Premium on that option is added in from the broker that's why I get a very different number than what I approved it at.I guess another way of saying it is that's the spread added. Now on short term trades premiums are the highest because of broker risks so that's why I see a very real difference in what I approved and what is entered by the broker.
    Now if this is correct it all makes perfect sense to me now.
    It was never real slippage but the premium that was added to my trade.

    Here's the email confirming the risk free trades. All I can say at this point is the broker is giving me a far better deal than any other by not limiting the risk free to a certain number of trades .
    Dear Randy,

    It was a pleasure speaking with you on the phone earlier today. Thank you for choosing 2options.Com for your online investments.

    If you haven't opened an account yet, you can easily register by Clicking Here.

    About the Risk free offer:
    The first losing trades, totaling the deposit amount (up to $5000 ) would be credited back to your account. The turnover requirement for the risk free offer will be 10 times the deposit amount as discussed.

    I am available for you at any time, please let me know if you have any further questions.

    Sincerely yours,

    Jack Miller
    Senior Account Manager
    cs@2options.com
    www.2options.Com
    Last edited by randy1953; 07-27-2015 at 06:29 PM.

  2. #2
    Active Member random's Avatar
    Quote Originally Posted by randy1953 View Post
    He then went on to explain to me that this is NOT slippage at all what happens is when I create this 60 second option the Premium on that option is added in from the broker that's why I get a very different number than what I approved it at.I guess another way of saying it is that's the spread added. Now on short term trades premiums are the highest because of broker risks so that's why I see a very real difference in what I approved and what is entered by the broker.
    Now if this is correct it all makes perfect sense to me now.
    I doubt this is correct and can be quickly demonstrated - just do a test trade on a flat market. If the trade enters at the market price and is tied, then no spread is added. I just did a couple of test trades on EUR/USD now (it's fairly quiet), and the trades start off at market.

    Dukascopy add a spread to their binary options, but I don't think Spot Option does.

    The difference between the expected price and the execution price is just slippage. The greater the time to execute the trade, the greater the possible slippage.

  3. #3
    Veteran Member randy1953's Avatar
    Yes I know what you are saying as I have entered before at what I thought was market rate. Hey maybe 2Options is just a scam broker. I tried to open up a account with them and the website just sits there after I press enter not doing anything.

    Edit: Well I have to say it's been a hell of a day with this broker. 10 times I tried to open a account and nothing would happen on their website the page just sat there and went nowhere. I told the manger he said it was on my side. However today I opened 3 new accounts with different brokers without a single issue. As I said if it sounds too good to be true watch out. I don't think it's a scam as I could not even open a account. But something is off big time with these guys.
    It was also this broker that told me what I see in the variance between what number I enter with and the number that gets approved is a spread from the broker? As Random said you can test it out in a flat market which I have done and I get the same entry number. So the question comes up why would he tell me such a thing? Anyhow I spent hours today trying to open a account with this broker and finally gave it up to good karma it was not meant to be.
    I will probably end up going with empire Options the issue I have with them is the payout on the USD/JPY the only currency I trade on 60 seconds it's only 67% which has to be the lowest I seen in the industry.
    Last edited by randy1953; 07-28-2015 at 02:23 AM.

  4. #4
    Veteran Member Dan21's Avatar
    Empire Option is a good broker. Trustworthy. Personally, I have never tried it but I've heard mostly good things.

  5. #5
    Veteran Member randy1953's Avatar
    Quote Originally Posted by Dan21 View Post
    Empire Option is a good broker. Trustworthy. Personally, I have never tried it but I've heard mostly good things.
    Thanks I'm live trading with them today. However I have a big problem I began fooling around with indicators instead of just trading like I use to and I;m not that successful so far. I needto get my head back where it was..not easy

  6. #6
    Veteran Member Dan21's Avatar
    Yes, you should deffinitly forget about indicators. They're just holding back your true progress.

  7. #7
    Veteran Member randy1953's Avatar
    Quote Originally Posted by Dan21 View Post
    Yes, you should deffinitly forget about indicators. They're just holding back your true progress.
    couldn't agree more with you I closed out my MT4 went back to how I was trading and began winning again..sometime I'm my own worst enemy.

  8. #8
    Moderator Kolyo's Avatar
    I am also a big fan of naked trading, I mean without indicators This is the only way you can focus entirely on price action and respectfully looking at market sentiment, which is a bit different than PA but will explain later on it in my thread
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

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