Binary options have become very popular recently. It almost seems like the Internet has been infected with ads by various binary brokers. The ads usually contains references to earning over 70% on your investments within a short period of time. Sometimes the ads show a famous person such as an known athlete or an actor to make the offer more attractive.
We all have desires to earn money quickly and effortlessly and to break free from the mundane days of 9-5 work schedule. Binary brokers know this and they try to capitalize on this as much as possible. Surely, you’re familiar with ads claiming that you can win 70% within 1 minute. But is this possible?
The short answer is yes, it is possible as the mechanism to earn that is in existence. However, it’s important to understand that it’s not as easy as the ads will have you believe. Sure, you can make a single bet, get lucky, and win 70% of your investment within 1 minute but it’s impossible to win like this consistently.
The truth is that binary brokers’ aim is very similar to those at a casino. As the odds in binary options are against the trader all they really need to do is to build a hype around winning in binary options and then let people play as much as possible. They know that the longer you play the more you will lose.
How do they make people play longer? Well they use a number of different sales techniques. For example they offer 100% deposit bonus to new clients. So if you deposit $1000 into your account they will add another $1000 to it, giving you a total of $2000 in trading capital. The devil, however, is in the details and terms and conditions. If you read them carefully you will notice that you’re not allowed to withdraw anything until you make an x amount of trades that will equal an x amount. This threshold is set really high, usually at about 40 times the deposit amount. So your money is stuck in the account and you need to keep trading.
The other technique they use is more personal. They will call you and pretend they are your friends and that they want you to win. They will suggest various trading techniques and keep telling you to deposit and trade even more as winning will be easy and you will surely win if you follow certain rules.
The truth is that when you trade binary options you actually bet against your broker. Your money is not in the markets but with your broker. This is crucial to understand. It is not in the interest of the broker that you win. Therefore there have been many instances where people couldn’t even withdraw their winnings or the remaining money due to technical issues or glitches experienced by the broker. They have all types of methods to make people stay and keep using their platform.
So in conclusion, if you are not a professional trader who understand how to trade binary options please invest your money in something else. The only way to have a chance at binary options trading is to follow professional binary options trading signals that are offered by traders who beat the brokers on regular basis. These traders offer signals that achieve high level of wins, often exceeding 70%, which is good enough to start winning in binary options.
Another thing to remember, if you’re going to invest your money in this type of trading activity is to only use a regulated broker that is governed by your local regulating financial body. Regulated brokers can lose their licence if they play dirt tricks on clients and their trading platforms are checked for inconsistencies regularly.
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