What's your take on Binary Options | Forex Factory

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What's your take on Binary Options

  • #1
  • First Post: Aug 24, 2013 11:40pm Aug 24, 2013 11:40pm
Everyone seems evasive on the subject lol
uphill battle
  • #2
  • Aug 24, 2013 11:54pm Aug 24, 2013 11:54pm
Currently, broker's actual commission per trade is too high (10%-20%) to consider them as a serious trading instrument.
  • #3
  • Aug 25, 2013 6:51pm Aug 25, 2013 6:51pm
pure gambling nothing to do with any investment strategy.
been there done that, Good Bye
  • #4
  • Aug 26, 2013 12:52am Aug 26, 2013 12:52am
Pure gambling.
Broker scams
At the end of the day, the house never looses...
  • #5
  • Aug 26, 2013 12:42pm Aug 26, 2013 12:42pm
Agreed, commission is too high and its a broker scam. If you have a good system that shows high accuracy within a fixed expiration time, you would be better off trading it in a fx brokerage.
  • #6
  • Aug 27, 2013 4:19am Aug 27, 2013 4:19am
Quoting Danny Maina
Pure gambling. Broker scams At the end of the day, the house never looses...
Agree there Danny. I never invest any penny in Binaries
  • #7
  • Aug 27, 2013 4:22am Aug 27, 2013 4:22am
Too dangerous! It is gambling and all gamblers eventually lose. You cannot beat learning the essentials first, practising on a demo account and learning risk and how to manage it. Only then start trading and start small.
  • #8
  • Aug 28, 2013 7:10am Aug 28, 2013 7:10am
Where's the thread started now ?
  • #9
  • Aug 29, 2013 1:10am Aug 29, 2013 1:10am
Binary trading is hard, brokers more looks like a casino holder. But not impossible.
Odds are need to be great to win over.
Discussion is an exchange of knowledge;argument is an exchange of ignorance
  • #10
  • Aug 29, 2013 2:23am Aug 29, 2013 2:23am
Quoting Gizmosis350k
Everyone seems evasive on the subject lol
Tried to check it out but not much luck in landing good info..
  • #11
  • Aug 29, 2013 8:23am Aug 29, 2013 8:23am
I just started doing forex and i started with binary options... Was that a dire mistake?
I cant get out at the moment because of a turnover requirement.
Any suggestions as to what steps I should take from here?
  • #12
  • Aug 29, 2013 9:36am Aug 29, 2013 9:36am
Tried Binary Options a couple of months back.

It is not for me. Very risky and I don't want to risk my money for nothing.
  • #13
  • Sep 3, 2013 5:45pm Sep 3, 2013 5:45pm
Quoting d4munche3z
I just started doing forex and i started with binary options... Was that a dire mistake? I cant get out at the moment because of a turnover requirement. Any suggestions as to what steps I should take from here?
Wouldn't term it a a dire mistake but you may want to revisit binaries later on..and still cannot locate any good resource to give me the info I need.
Back to topic, you can start with currency trading and later on move to binaries and of course, feel free to list any books (real and online) on binaries - just need some good info and not some of the regurgitated muck that's being posted almost everywhere..
  • #14
  • Sep 25, 2013 9:41pm Sep 25, 2013 9:41pm
I gave it a go with a 14 day demo account and I have won 10 trades out of 10. It seems to good to be true. Also you have to put up large risk for small rewards (i.e. $85 to win $15) and the spreads are wide. Now as I say I have won 10 times from 10 but if I lose once then I will wipe out a large amount of my balance.

I do like the idea of trading on the idea that "if a price will be greater (or not) by a set time." I seem to do well at this, by using other charts and traditional TA outside of the binary trading platform, but again its the large risk you need to put up.

If I could come up with a strategy within traditional trading through my broker but with that kind of trading like the binary trading offers (i.e. will it hit this price or not in the next X hours) then that would be good - but I am new to this and not sure if it can be done.
  • #15
  • Oct 7, 2013 2:36am Oct 7, 2013 2:36am
I've been researching on the Binary options and this is what I learned.

First of all it is easier for the beginners. All you need to do is guessing, nothing depends on you. Do some light analytical work, and go with it. After you open the trade, there's nothing you can do about.

As for the more experienced traders. There are a lot of things, that might become a concern. Like the trend pull-backs or incoming fundamentals. As for me, it is very difficult to say where the price end up in some specific time.

Another thing is the winning rate. Maximum you can get is 85% of your bet, But when you lose - you lose the full bet. It looks like a casino, but there the winning rate is higher.

And the last thing, I've seen a lot of people who were very unhappy with their binary brokers, saying that the trades were not closed on time or there were problems with trying to withdraw the money.
  • #16
  • Oct 8, 2013 6:15pm Oct 8, 2013 6:15pm
If you really wanted to, you could simulate a binary option with normal trading. That way you wouldn't get hit with the bad risk reward ratio. If price is above / below x after a certain time, close the trade (and take what ever money was made or lost).
  • #17
  • Oct 8, 2013 6:38pm Oct 8, 2013 6:38pm
Quoting Vinnyvagus
I gave it a go with a 14 day demo account and I have won 10 trades out of 10. It seems to good to be true. Also you have to put up large risk for small rewards (i.e. $85 to win $15) and the spreads are wide. Now as I say I have won 10 times from 10 but if I lose once then I will wipe out a large amount of my balance. I do like the idea of trading on the idea that "if a price will be greater (or not) by a set time." I seem to do well at this, by using other charts and traditional TA outside of the binary trading platform, but again its the large...
try it with real money
been there done that, Good Bye
  • #18
  • Oct 9, 2013 7:40am Oct 9, 2013 7:40am
http://www.forbes.com/sites/investor...inary-options/

This is a good review.

Binary options are an unregulated gambling scheme.
Beauty and the Beast
  • #19
  • Oct 9, 2013 9:39am Oct 9, 2013 9:39am
Quoting Vmi
http://www.forbes.com/sites/investor...inary-options/ This is a good review. Binary options are an unregulated gambling scheme.

Try telling NADEX that they are unregulated.
  • #20
  • Oct 10, 2013 1:54am Oct 10, 2013 1:54am
Quoting enivid
{quote} Try telling NADEX that they are unregulated.

You don't need to.....just avoid them till the FCA clears them
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