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  1. #11
    Legendry Member milos's Avatar

  2. #12
    Master Member Okane's Avatar
    Quote Originally Posted by Quad234 View Post
    I appreciate that Nick thanks for the inspiration the whole thing has me scared yet intruiged lol.

    Hey Okane.. is there another well trusted legit broker you can recommend other than the 24option one? I see the minimum amount you have to put to start there is wayyyyy too much (250) I was looking to gently start trying my luck eventually with only very small amounts until time passes and I get a better idea and handle at it before I start risking larger amounts.
    .
    Well, I would try Ayrex - not CySec regulated yet but we have many forum members who have accounts there including some of my own students
    so I know they get money out. Their forum rep. is also available here in the "broker discussions" room

    But make sure you try their free demo first. Also, don't forget to go through school and start learning how to read charts. Don't be in a rush
    about brokers.
    OptionHeimer: I am become debt, destroyer of accounts!

  3. #13
    Legendry Member willyw's Avatar
    Quote Originally Posted by Quad234 View Post
    I appreciate that Nick thanks for the inspiration the whole thing has me scared yet intruiged lol.

    Hey Okane.. is there another well trusted legit broker you can recommend other than the 24option one? I see the minimum amount you have to put to start there is wayyyyy too much (250) I was looking to gently start trying my luck eventually with only very small amounts until time passes and I get a better idea and handle at it before I start risking larger amounts.
    .
    You can try Binary.com, minimum deposit is $10

  4. #14
    Junior Member BinaryScamSniffer's Avatar
    For all the newbies, it is important to keep in mind that those at the top of the mountain didn't fall there. Everyone was once a beginner, so by making little steps you will undoubtedly gain experience.
    Prior to making any investments, including broker and software changes, be sure that you don't lack the theoretical basics. Start from the key terms, make all of the acronyms clear (you will probably soon stumble upon abbreviations like MACD, ATM, ITM, OTM, capex and numerous others). To make it simple, at this stage you have to grasp the mechanism of binary options trading. Then, advance to analysing more complex concepts such as chart analysis including the most common strategies like Pinocchio, Pivot, Reverse or Channels.
    Once you get used to the basic points and terminology, start practicing. However, it is not the time yet to risk your funds, as most likely the profitability rate wouldn't be high enough to break it even. Opt for trading simulators and demo accounts until your yield is theoretically high enough to cover the brokerage commissions and other fees. Keep in mind that in reality this rate drops sharply at the very beginning of transition.
    Proceeding to real trading, a CySEC regulated broker is the most reliable choice. Especially as an UK resident, you can benefit of the their services, compared to the American traders. The reason why CIFs are a good choice is the restrictive policy of the regulatory body. Additionally, cases when apparently reliable brokers change the parent company and start defrauding the clients aren't unprecedented. The Compensation Fund is a guarantee that you will not lose your money even in the worst case. However, the upper compensation limit is $20,000, so try not to exceed this capital account limit.
    Once you begin practicing, you will gradually define your own strategy and become a seasoned trader. Of course, many start trading without any previous experience, but such an approach will give you a head start and help avoid significant ’educational’ losses.

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