This is a common question on the minds of Potential or New Traders. “Is Binary Options Trading safe? Or Is Binary Options a Scam?” The Binary Options came on board around 2008. You only need to choose if the price of a particular currency pair would go up or down within a certain Time-frame. We won’t call it a betting system because there is a need to analyse the market carefully before placing your trades. This Currency Trading system is very safe, simple and fun to use.
It is very simple.
We would go straight to the example here: Let’s say you feel the US Dollar currency will go up against the Canadian Dollar, you set $100 just click the “Up Button”. If the price of the US Dollar goes up within the specific Time-frame you set, you can make a profit between the 50% to 90% depending on the rate your broker fix. If it’s 90%, you are getting $190 back to your account. And you see the increase in your balance. It means you have made the trade. The average is usually 75%. It is very simple to make money from the Binary Option trading system.
What if I don’t make the trade?
Let’s assume the opposite is the case according to our illustrations – You won’t earn any amount as profit and the $100 you used for the trade will be deducted from your Balance on the Trading / Broker Platform automatically.
Time Frame
The time frame for Trading the Binary Option is usually shorter compared to that of the Traditional Forex. Depending on the broker, you can set your trade time for as short as 15 seconds to 1 hour, to 1 Day. Personally the trading time that suit the strategy we use is usually between 5 to 15 minutes. This means it takes within 5 Minutes for me to open and close a trade. Or 15 Minutes. Oh! it is so easy to initiate trade, but make sure your money management rules are followed. .
The Money Management Rules
Before you place a trade for the day, you need to decide the amount of money you intend to trade with.
- Do not Trade with the whole deposit on your Binary Option Trading Platform / Broker’s Platform: You can set aside 2% of your total deposit on the platform. Assuming you have $1,000 deposit on the platform, you only need to set aside at least $20 to trade with. Gradually grow your account. Don’t intend to make all the money in one day. Never go past 5% of your balance.
- Use a Demo Account: Whenever you discover a new strategy, don’t just go ahead and trade on your live account. You need to try it out on the Demo Account at no risk to your money. The Demo Account will always be available for you on the platform with virtual money for about $10,000 to play with and try out new strategies. This is just for practicing purposes.
- Control Your Emotions: Never allow your emotions to take over you. Whenever you lose a trade, don’t fight back with the determination to make the loss back. It could be that the market is not favourable for the day. Take a break from your computer or phone or any other device you use for trading. It is vice versa, when you make enough profit for the day, be determined to end the trade for that day. Don’t continue trading unnecessarily with the hope of making more profits.
- Don’t invest what you can’t afford to lose: Don’t use the money you can’t afford to lose, That money you set aside for your rent or urgent needs, don’t use money for such pressing need purposes to trade. Use the money you can afford to lose as the capital to generate more profit for you. By doing this, you won’t have the urge to fight back the market in case it goes against you. If you lose $20 of $1,000 deposit, you won’t have that feelings to fight back the market. You will be more comfortable and relaxed than someone who ignorantly or greedily used 50% ($500) out of that account. The goal is to grow your account, not to blow it.
Ignore those who says it is a Scam:
There are actually some people who think Binary Option is a scam. These are the categories of those who think this system is a scam: 
- People who don’t believe anything: This is the category of people who just don’t understand the concept of business and every business or opportunity to them is a scam.
- Some people from countries where the Binary Option System is banned: If the Binary Option trading system is not available in some countries, the residents of those countries are being lied to by their Governments that it is a scam.
- People who don’t analyse the Market before placing a Trade: Some people just think it is a gamble. No! It’s not. You must be confident before placing a Trade. There is a need for the market to be analysed properly before placing a trade. Stay with us as we shall cover how to analyse the market and develop a very good strategy. When people who don’t analyse the market lose money, they get angry and erroneously call it unsafe or a scam. Note: It is not a scam!
- There are actually Scammers out there: Impersonators are everywhere all over the world. There is a need for you to be careful and choose the right Broker. We shall recommend good brokers where you can safely deposit your money and make withdrawals safely. Please don’t just start using any random broker you see. We shall release list of good brokers as you stay tuned with us.
Conclusion
Is Binary Options Trading Safe? The answer is Yes. It is absolutely safe. It is not a scam and it is easy to make money within minutes on the platform. Don’t give in to crazy offers. There are genuine brokers out there too.
Treat this as a business. Start here with Free $10,000 Virtual Money from this good broker / platform!
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