Introduction Guide to Binary Options – Pros, Cons and Examples

I wasted an incredible amount of time and money on this Bullshit until I realized that all Binary Brokers are just crooks. I perfected an automated Newstrading System: First I did my homework on how much of a deviation is needed on every fundamental news to trigger a predictable move. You can do this on ForexPeaceArmy.com by clicking on "chart" next to the calendar. I even spent 160$ on a Winautomation Script that saves all charts for a particular News Event for me. Then I programmed a Winautomation Script to open these crappy bling-bling-important-looking f*ing slow broker web platforms that f*ing log you out all the time, which took me weeks of pure programming time to learn and perfect this. I used Forex News Gun to react within Milliseconds to fundamental news data. First trades looked primising, however soon enough when brokers saw that I had a winning system (like 80% winning trades), my trades where rejected. So I rented a server in NewYork to reduce my latency from 60ms to 1ms (!!!) which fixed that problem temporarily. Long story short: I know how to win 80% of all trades in theory, however I can't trade that strategy. Interestingly enough, the most honest broker (StockPair) didn't accept a single Newstrade ever. I think they just know that Newstrading is the most dangerous exploit of Binary Options.

It's exactly as much gambling as trading Forex! Trading is a zero sums game, however in Forex the Broker is with you against other market participants. With binary options it's a complete different story, it's you against the broker (or David vs Goliath).

Binary Option : Surname GAMBLING....

You know your bible very well.

Agreed - you'll never win. The odds are stacked so hard against you that it's just a way to lose money. Also, you'll never beat the brokers who have algos in place to make sure that any money you win they'll eventually get back.

You click and your trade gets placed at precisely the right price to favour them, if you complain they say it's Internet delays, market 'conditions' and a whole host of other excuses to not admit to ripping you off. Some of these delays are so blatant you wonder how they get away with it.

Then if you do try to make a withdrawal the real problems start. Upset them in ANY way and they'll block you, forever. And try proving any of this in court - good luck with that.

Even FX brokers have 'methods' to keep you at bay so you have to tread carefully about who you sign up with.

Binary Options - just say no!

Interesting comment.... I also had a great news trading system that worked 80/90% of the time (too complicated to waste time explaining here), but as soon as they realised what I was up to, things started to 'go wrong'. It's subtle most of the time but eventually you find out that they're screwing you.
So there you have it... a perfect system, only now I can't trade it because no one will let me. Two years wasted before I finally gave up. You'll never win long term with these people.

As I'm in England I do Spread Betting now which is tax free here (no need to do FX if you're in England) - the brokers are regulated but of course you still have to watch them like a hawk as you would any broker but generally they're OK and at least they're in the same country as you so they're easier to deal with if there's a problem which there hasn't been so far.

My advice to any novice reading this is to keep well away from BOs.

Sadly, Spread Betting brokers don't accept US/foreign traders so you'll have to use a FX broker.

Basically the same as FX but as it's a derivative it's tax free and classified as gambling in the UK. Actually it's no more gambling than FX but the government included it so no one could offset their losses against tax. With FX you're trading lots of the actual currency so that's taxable.

Leverage is the same concept, it's just pounds per point. Spreads are the same - pretty much Forex without the tax. What's not to like?

It's just the same as Forex, treat it as you would any trading on FX.

It's fairer because the brokers are not criminals like in BO
You minimise being cheated like you would with FX - research your broker properly.
Tactics are exactly the same as trading Forex.

BO is the surest way to lose your shirt.

If you dare use small amount on credit card and get ready to take effort to get your funds back if you are lucky via the credit card dispute route.

if theirs a well theirs a win

Please do NOT go anywhere near binary. Do the maths. To come out even requires ridiculous win rate....

Binary Options is a fancy term for gambling

The ultimate multi-layer scam. Tradeciety giving "advice" about binary options. Where are all the "make $673/day watching TV at home" Google ads?

the best people join the market makers... the good opens a fx brokerage shop, the worst run a binary options casino business...

it's not even trading... purely a casino house...

What is the revenue potential of Spread betting

Thanks for your explanation. I now understand a bit more about the tax implication

What makes it more fair for the player.

How can you avoid or minimize being cheated

And what tactics are useful

Ok Thank You