Earn money from home through Binary option, is this legit?

Jun 15, 2015
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#1
Hi Guys,

Just starting trading online and searching for easy ways to start earning money. I stumbled on this Binary option website. Looks tempting but i dont know if this is legit. Any experience on trading using Binary option?
 
Sep 4, 2011
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#2
You should not be worried about legal or illegal. You should be worried: if you win they will not give you money.
 
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timsk

Well-known member
Mar 18, 2002
6,765
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#3
Just starting trading online and searching for easy ways to start earning money. . .
Hi themoneyteam,
There are no 'easy ways' to earn money trading, least of all through binary options. Run a mile from anyone who tells you otherwise!

Binary options is made to look easy in order to lure in gamblers who don't know what they're doing and who will lose their money. The only question is how long that takes. The people who make money trading binary options understand the markets they trade and how to skew the odds (that are heavily biased towards the broker) in their favour. To make money consistently will require considerable knowledge and skill.
Tim.
 
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sun11

Well-known member
Dec 5, 2014
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#4
Its very hard to win with binary options, with 90% return you need to have 52-54% win rate to reach break even. Really required advance skill. Definitely not easy. I still haven't found any easy method to trade binary options.
 

progix

Active member
Feb 25, 2016
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#5
Trading can be easy but earning money with trading is very hard, so if any trader looking to start it then you might keep it in mind that you have to be very patient in start. Learn binary option trading practicing demo accounts. It should be started as a hobby and you can not rely on it initially for your livings.
 

moka2

Active member
Aug 9, 2012
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#6
Easy way = stay away from these Dodgy Binary options
Most if not all are crooks
Stick to Exchange traded products ( does not mean you will make money but chances are these are you will get to withdraw your winnings and your stake! legit large true exchanges like NYSE/LSE/ CME/ CBOT etc
 

Inquisitor

Active member
Nov 20, 2003
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#7
I am new in trading also new into this forum as well. I started my career as a trader. What will be best for me Binary or Forex?
This all depends on how quickly you wish to lose all of your money. If you hope to lose it really quickly then Binary is the best choice as there are so many scam Binary brokers out there that will steal your money from you and in double quick time.

If you choose to lose it more slowly then go for a traditional Forex broker as you will last longer although the end result will probably be the same.

So it's the option of: Lose Quickly or Lose Slowly .......... the choice is yours
 
Apr 26, 2015
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#8
If you are really into trading then I would suggest to go with something more serious like forex. BOs are too risky especially for a beginner. I had bad experience with it. Now I am back to forex, currently researching strategies and signal sources (found this one today [Link removed]) ...
 
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Oct 14, 2016
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#9
There are so many complaints about most brokers over on https://binaryoptions-forum.com/. I'm interested in trading binary options and want to get started, but I just don't know if disclosing my personal info is a good idea anymore. Can anyone help? With which company do you trade? Are you satisfied?
 

Will Duxon

Active member
Sep 1, 2016
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#11
There are so many complaints about most brokers over on https://binaryoptions-forum.com/. I'm interested in trading binary options and want to get started, but I just don't know if disclosing my personal info is a good idea anymore. Can anyone help? With which company do you trade? Are you satisfied?
I traded with the North American Derivatives Exchange (NADEX.com) which is the only binary options broker regulated in the United States and is TOTALLY legitimate.

I believe they went international some time around February or March 2015, but their setup is radically different from all the other binary options brokers. I think some people look at it and walk away because they see it as being too complicated, but anyone with the ability to put out a little effort should be able to understand it. Plus, they have PDF documents that explain everything, there are almost certainly instructional videos on You Tube, and you can practice with a demo account. (Though I DO use alternative charts since I very much dislike the ones they offer through their platform.)

I don't recommend them because I don't recommend ANYTHING to ANYONE, but I'm just informing you of a 100% legitimate outfit.

However, if you know what you're doing, its a LOT easier making money trading Forex going the traditional route, and I understand there are places that will let you trade micro lots (or even nano lots?) if initial account balance is an issue.

That said, I just started working on my own binary option system today, so I don't mean to turn you off, but then again, I'm using proprietary indicators to which no one else has access and am using a knowledge of price action and market structure of which I was TOTALLY unaware when I started five years ago. However, all things being equal, if I get this system working, I'll be focusing on binary options a lot more than anything else.
 
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Mar 15, 2011
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#12
No, I can now say with confidence they pick the optinos randomly. XYZ bot claim they use some advanced system, but they select options randomly.

Also, all the people that promote them on Youtube are fake, they obviously get some kickback from the bot providers if they generate links and sales to their pages. The promoters can also easily top up their balances from external bank accounts then pretend that the gain was from the options bot.

After some extensive research, it is all a scam.
 

ffsear

Well-known member
Oct 10, 2006
1,921
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London
#13
Check out this e-mail I got got from a Binary Options sales gimp!

Andrew XXXXXX <andrew.xxxxxx@acervogroup.com>
21 Jul

to me
Dear Mr XXXXXX,

We are not regulated because Binary trading does not come under FCA regulation. Binary Options is as many people know a rapidly growing financial instrument. You probably have heard of Forex which is regulated by the FCA, however a few years back Forex was not under its regulation. The reason it was then regulated was the incredibly high amount of liquidity flowing through the Forex market which meant that if it was to be regulated the government could then tax it. In recent months the binary market has been receiving much interest and has been quoted in papers as possibly being regulated over the next couple of years because of the amount of money now coming into it. That is partly the reason we've had so many new clients, the fact that it's tax free and all other markets are currently volatile because global turmoil. This is the time to look into this market.

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says it all, they don't know jack!