Untold Secrets about Brokers of Online Binary Options
It isn’t hard to figure out for that a lot binary options brokers are, in fact, bucket shops, meaning none of the “trades” that you place are really pushed into a real market. These brokers reward the winners out from the money they take from the losers, trying to balance things out for as long as they can afford it.
Mostly, they only make money when you lose money. So typically they make 100% of funds when you blow up your account.
Mostly, they are completely unregulated and there is no dispute resolution procedures.
Mostly, once they have your money you aren’t getting it back. Good luck getting a withdrawal from any except a handful of binary brokers.
Mostly they are staffed with internet marketing professionals and not trading professionals, and have none of their own money in the scam.
Mostly, the “binary forex robots” you see advertised are a marketing scam, they don’t work, but convince you to deposit money in the account, which is then lost. 100% of the money goes to the broker, who pays a commission to the robot seller who makes a cut for helping scam you.
Mostly, professionals run a mile from these greasy half-assed unregulated shitshows.
Mostly, the assholes promoting this rubbish on the internet are self proclaimed “binary options experts” who know not a damn thing about trading or markets, and have never traded profitably.
The providers can manipulate spreads, pricing, time and also platforms since all binary options brokers have different platforms and different feeds they definitely have “House always wins” policy. If you want to trade you need to learn don’t fall for quick rich schemes and brokers or anyone claims they have made money using binary options. There is no credibility that anyone has made money and if they have, ask them for audited proof by the big 4. You will quickly see their excuses.
- Now that being said, there are many trustworthy brokers out there that shouldn’t be ignored as a result of the bad reputation of scam brokers, which brings up the question: how to tell them apart? Two brokers actually have a decent reputation for binary brokers are Binary.com and IQOption.
- Usually a scam looks like this: after registering with a binary broker you get a call from their representative, trying to convince you to invest as much capital as possible with promises of gigantic profits and premium access to their exclusive tips and trading signals. These brokers usually work by adding you to some sort of group, for example over Skype, and then supplying the group with trading signals, which may actually cause you to win for some time, enough to build your confidence in the broker and to make you invest even more money in the hopes of making greater profits. Then, at some point, you will get a wrong tip and lose big, and your loss would become their gain.