You still doubt that you can earn with binary options? Then listen to the experts, who earn money in this market. Believe me, these are the real reviews of Investlb.com readers. We do not promote a specific broker, the platform or any paid services. We want to convince you that it is really possible to earn. And let it will take several months of training, each one has the opportunity to earn.
- Please read the opinions of experts and then make conclusions. Voice your opinion in the comments, please share them with our readers. Ask questions.
Binary options: fraud or the possibility to earn? The opinion of experts
1. Oleg. Private trader, an expert with experience of more than 2 years
“Like many people, I considered that binary options is fraud. I was interested in these questions:
- how the profit is generated. Because options are only a forecast, the revenue is paid by the broker;
- why there are so many strategies on the Internet, but so few successful investors;
- what is the guarantee of withdrawal.
When working in a Bank, we often discussed the possibility of additional earnings, and at some moment there was a sense of excitement. I watched the video training, chose the well-known broker and… Literally in 3 days I lost the entire deposit on a demo account. I even took advantage of the free signals of broker to open trade. And this moment made me think that options trading is a kind of art that can give new emotions and money.
This case made me rethink the binary options. I reviewed dozens of videos with strategies, learned how to do diaries, dealing with liquidity providers and market makers, have studied the formula of technical tools, I began to understand the world economy. Only then I felt that I actually got a new profession. Now options for me is 50% of all my earnings. My advice for beginners is never too late to start. You only need to have desire and believe in success, perseverance and patience.”
2. Vladislav, manager of investment accounts in Forex, specialist with 13 years of experience
“Sorry for being rude, but the opinion that options are for suckers, I believe only suckers’ opinion! In the world of thousands of traders, dozens of exchanges, there is a billion annual turnover and the industry with history of more than a century. It physically can’t be a fraud. When a novice makes several attempts, makes a mistake and gives up — he just doesn’t want to work. But it is not the fault of the broker or industry. Those who want to become a professional, tips:
- first time is always difficult. Don’t give up in case of losses. Everyone has them;
- the price of your experience gained in options is the price of your time spent on training. Believe me, it pays off;
watch the video of famous traders, but take everything with a grain of salt. Communicate on forums where they can express their opinion.”
3. Sergey, the novice trader
“Every person has the opportunity to earn on the options, but only 10% use it, the other 90% prefer to give up. But even the remaining 10% are afraid to make real financial stake. Since I opened demo trading account it took 3.5 months before I dared once to do a real forecast for $ 3. Demo and real is totally different feeling. A renowned expert expressed the opinion that the new experience is worth to get just for the sake of new emotions. Emotions are our life. My opinion — you need not to be afraid to try. Hundreds of people get profit and withdraw money, I managed too. Believe in yourself!”
Alexandra, private trader, a specialist with experience of 1 year
“I never thought that binary options trading would become my main job. It all started with the fact that one of my friends suggested that I write a review of an economic article about the impact on quotes of the quarterly reports from companies. I’m an economist by education, worked in the enterprise. I wrote it. And it turned out so convincing that I found it so easy to earn money on predictions! I opened a demo account with the first broker and my predictions turned out to be successful.
To celebrate, I decided to fund my account $ 10 (not so much), made a prediction and was wrong. Made the forecast again and it was wrong as well. It has been almost a year since the first prediction and I came to the following conclusions:
- it is not enough to know only one direction of the economy. You need to understand the reports, interest rates, watch out the correlated markets;
- it is important to be able to restrain yourself psychologically. Don’t give up when setbacks happen and don’t become too smug when you win;
- from a demo to a live account — minimum 6 months of experience.
For all who dare to plunge into this work, I sincerely wish good luck!”
5. Victor, a professional investor and a trader with experience of more than 15 years
“Before you tell that binary options is a fraud, ask yourself, what do you know about it and what you can do. You have already earned at least 100% of the initial deposit on a demo account? Have you worked with demo accounts of at least 3-5 brokerage companies? How much do you know about technical indicators and how to work with them? If not, then how can you judge what you don’t understand. And if you are ready to try yourself in binary options, then listen to my advice:
- study the theory and practice on a demo account. If you get the performance of at least 80%, it will talk about a good base;
- communicate in the forums. There are real cool traders who have a lot to tell;
- signals, social trading, etc. — all these beautiful words for beginners. Nothing easy there. Noone will make money for you.
People earn on the options, but it’s the same profession, as a mechanic, plasterer, driver. At first it is difficult, then it becomes easier. And if you think that the broker won’t let to withdraw money, you are mistaken. He would not have built up such a large system of trade to get hold of 10 dollars.”
Summary. I think you noticed that experts are almost unanimous. Binary options is not a fraud, but not an easy money as many people think. For some people it is an extra money for someone — main profession. Here you can get big profit but you can lose it all. The view that options trading is for suckers, give those who have not invested in this job any time or effort and got the loss. To become a professional you need more than a year of training on a demo account, ongoing training, error analysis, selection of strategies and much more.
I hope this article was useful to you. Stay with Investlb.com and we will help you to achieve success in trading!