Binary Options is nothing more than a guessing game, throwing darts and flipping coins. All these methods just depend on luck to win. How lucky do you think you'll be with any of those 3 outcomes when it comes to trying to make money online with a program? Can you always flip the coin in your favour? Will you be able to hit the bullseye with every dart throw? Will you guess right every time on what is under the shell, in the shell game?
This is how simply put the binary options game works. It is gambling away your money. The house always wins when you gamble as we hear so many times.
How Do Binary Options Work?
You are betting whether the price of the stock, currency or commodity will go up or down in a selected time period. You buy the option to bet whether it is going to go up or down.
It is almost impossible to predict where these prices are going to move in the short term. You are betting against and with professionals who do this for a living. Can you win sometimes? Sure, just like buying a lottery ticket. Sometimes you win a free ticket and other times you get skunked. The other thing working against you is the market, prices are way to unpredictable to lay money down and bet on what the future direction will be.
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What's It Cost To Get In?
Most of the programs I've studied want $250 to open an account and then try and get you to immediately pump that up to anywhere from another $500-$1000.
The more this broker gets you to finance your account the higher commission they earn. This is how the whole financial services industry is run. The people making the money are brokers and account representatives. The more you deposit the more trades are executed, the more commissions for them.
In the binary options world they just call themselves brokers, what they really are is reps for a bucket shop. This bucket shop collects the money and bets it right away. The program affiliate collects the winnings, only you never win much.
How Do You Make Money?
The claims they make are outrageous. This really attracts the 'Get Rich Quick' crowd but it's virtually impossible to make the kinds of money they claim you can make.
This is a screenshot of the Japanese Yen vs US Dollar trade. On a $50 bet where do you think it's going? Up or Down. Look at the profit potential and you can see the attraction. This is a completely auto-pilot system that does the trading for you, you just bet the direction and then watch (most of the time) your money vaporize.
The program creator makes money, the broker/bucket shop affiliate makes a commission and you lose most of the time. Don't worry you will receive a ton of calls asking you to keep depositing money or to even upgrade your account to try and collect profits at a much higher rate.
Your broker's primary concern is his profit along with draining and squeezing you of any and all monies you have left for betting with their automated system. It's set on auto-pilot to rip you off.
My Final Take on Binary Options
Only use play money or money you can afford to lose. There have been an onslaught of these programs hitting the online marketplace with all kinds of unreal promises of making you money.
Don't fall for their claims of instant riches. They just don't deliver and will never deliver a consistent monthly cash flow you crave for yourself. You will find nothing but broken promises with a binary options trading platform. Just stay away from them all.
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Have you ever been a member of any Binary Options trading platform? I would love to hear about your experience with Binary Options. If you have any questions, comments or feedback for me just drop them in the box below. Thanks for stopping by and reading my article.
Hi there, my name is Peter, it's so great to meet you. I started this website back in 2015 to help educate and inform people on the many ways to make money online. There are so many scams out there that need to be revealed. I also explore ways on how we can turn our time into dollars working from home.
I hope you find some of the tips and suggestions that I've experienced helpful on your own online journey.
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