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  • Binary Options

    Hi, has anyone done Binary Options and was profitable? Do you prefer it to Forex Trading?

  • #2
    Tried, Don't burn your hands in to it....

    Comment


    • #3
      Very risky.

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      • #4
        I been at BDSwiss once and invested some money and talked with a Swedish agent sounded more like some bimbo from Hollywood that had lost their brain during a breast transplantation anyway after i joined i was the one without a brain because i did invest in first place.

        Binary shouldn't be considered as an investment it is just like an casino. so i had 100% loss like all of my other investment in the past

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        • #5
          Very risky and it is likely you will lose your money. You also have to be careful which broker to join as some are really dodgy. But it is possible to make profit with a good trade and money management (MM) strategy. Due to payouts being only at around 80% on average the MM strategy becomes integral to staying in the green. I saw this thread last week and so I opened up a demo account. Between my other daily routines I made 30% last week and I made 10% this morning. I attach the image of the balance. Starting balance was 1000. Each put or call starts at 25 for this balance. I wouldn't make binary options my main income or risk the bulk of my money with it though.
          Capture5.PNG
          Last edited by ScottFX; 08-17-2015, 10:41 AM.

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          • #6
            But I can see where it can be beneficial, lets say the euro spiked and you had a good prediction that at 15 mins later it would retrace a little, you would just need 0.1 pip to make that happen rather than put a big sell or buy and not go against you.

            I dont know how authentic their pricing is or what but I know some people who made tons of money in it but I'm not sure how legitimate it is.

            I understand Banc De Binary to be authentic and all the other FSA regulated ones. Other views are welcome on this!

            Comment


            • #7
              Originally posted by FXFINPRO Capital
              All trading platforms whether they are stocks, shares, FX trading, binary trading carry a risk. I used FXFINPRO Capital at first as they have a free demo platform you can use before you open up a real account.





              [ATTACH=CONFIG]1502[/ATTACH]
              Ofcourse you would use it, you promote it and i'm not looking for promotional information, thanks.

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              • #8
                I think Binary options is risky but quite interesting, it's suitable for traders who have clear strategies and effective indicators.

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                • #9
                  Are they even real? Anyone I've heard trying Forex binary options has not been able to withdraw their money, and so the scamminess of Forex BO seems almost guaranteed.

                  But I know IG Markets offer them, and they're big players.

                  How are the "bets"covered by the broker? Either the risk needs to be held by the broker (relying on the trader to lose more than they win), passed on to the market, or hedged against another trader by them taking the other side of the trade. Or the trades aren't real and you'll never get your money back.

                  I don't see how the trade can be passed onto the market. The payout is a fixed amount. Maybe you could do it with some fancy hedging, but it seems unlikely.

                  You could only have a good chance of having a trader take the other side if the broker is big enough to have a good depth of market. Maybe that's how IG Markets cover it. This is how bookies do it for gamblers, but attract new interest by adjusting the odds.

                  In short, I'm deeply suspicious of Forex binary options. I'd be keen to be proven otherwise, though.

                  Comment


                  • #10
                    Originally posted by ScottFX View Post
                    Very risky and it is likely you will lose your money. You also have to be careful which broker to join as some are really dodgy. But it is possible to make profit with a good trade and money management (MM) strategy. Due to payouts being only at around 80% on average the MM strategy becomes integral to staying in the green. I saw this thread last week and so I opened up a demo account. Between my other daily routines I made 30% last week and I made 10% this morning. I attach the image of the balance. Starting balance was 1000. Each put or call starts at 25 for this balance. I wouldn't make binary options my main income or risk the bulk of my money with it though.
                    [ATTACH=CONFIG]1236[/ATTACH]
                    Is this with a reputable broker? Have you successfully withdrawn a meaningful amount of money from this broker?

                    Comment


                    • #11
                      Originally posted by idempotent View Post
                      Are they even real? Anyone I've heard trying Forex binary options has not been able to withdraw their money, and so the scamminess of Forex BO seems almost guaranteed.

                      But I know IG Markets offer them, and they're big players.

                      How are the "bets"covered by the broker? Either the risk needs to be held by the broker (relying on the trader to lose more than they win), passed on to the market, or hedged against another trader by them taking the other side of the trade. Or the trades aren't real and you'll never get your money back.

                      I don't see how the trade can be passed onto the market. The payout is a fixed amount. Maybe you could do it with some fancy hedging, but it seems unlikely.

                      You could only have a good chance of having a trader take the other side if the broker is big enough to have a good depth of market. Maybe that's how IG Markets cover it. This is how bookies do it for gamblers, but attract new interest by adjusting the odds.

                      In short, I'm deeply suspicious of Forex binary options. I'd be keen to be proven otherwise, though.
                      Yes I agree, out of all of them i think IG Markets is the reputable reliable one with decent price quotes, not as fast as MT4 pricing but quite close to it. I have been using their demo account and the execution is almost instant. I know for a fact if i deposit and withdraw there wont be any issues.

                      I will give them a go with real money soon.

                      Comment


                      • #12
                        On live, I have been using GDMFX because I run EA's with them for binary options. Basically, for the various BO brokers, just don't open an account with their bonus offer and provide them with all the required documentation, ie. passport, proof of address. After that I don't have issues withdrawing money.

                        A lot of people are opening accounts with a bonus offer and then blame the broker that they are not allowed to withdraw their money. You've got to trade 50x the amount or whatever stupid amount to be able to get your funds out.

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                        • #13
                          Originally posted by Waleed121 View Post
                          Yes I agree, out of all of them i think IG Markets is the reputable reliable one with decent price quotes, not as fast as MT4 pricing but quite close to it. I have been using their demo account and the execution is almost instant. I know for a fact if i deposit and withdraw there wont be any issues.

                          I will give them a go with real money soon.
                          No price manipulation? I find IG to be the best after using their demo account. NO delay in execution of trades either and regulated by FCA, UK.

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                          • #14
                            Demo is different to live for BO in that they sometimes stop trades during volatility on live account but not on demo. Also, they reduce payout on live but not on demo.

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                            • #15
                              Why have you gone for GDMFX since they are really unheard of? Do they play with the prices? Or are the prices accurate to live recommended price feeds.

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