What are binary options?
I decided to write out a simple guide that explains it for newbies or those curious about this exciting new way of trading and making money online:
My Binary Options 101 Guide:
- Binary options is a form of trading currencies and commodities.
- It is very, very simple, much simpler than trading stocks or Forex.
- You simply pick whether a unit will go "up" or go "down" in price (hence, the cartoon above).
- You are looking for "signals" that will indicate to you which direction a currency or commodity will go. If you pick the right direction, you make a big profit.
- Traders typically use advanced "signals" software to make profitable predictions.
- An example of advanced software includes Auto Binary Signals (my review here).
- For those NEW to binary options, there are easier to use and cheaper platforms.
- To trade binary options, you must open a binary options brokerage account.
- Opening a brokerage account is very easy and you can use a credit card (I use Optionow, they offer a 100% bonus on your deposit).
- I've made around $9,000 in net profits trading binary options since last year.
- Many people are doing very well, because they are utilizing the advanced "signals" algorithms that cost hundreds of thousands of dollars develop, with software like Auto Binary Signals.
- By using "signals" software, you give yourself a BIG edge to make profitable trades.
How much money can you make with binary options?
A lot. There are people who make $500,000 a year. There are others who make 100s of dollars a day. I would say many people are successful at it, because these new advanced "signals" programs are giving the public an edge; the kind of edge only pro traders used to have access to.
Do I have to worry about binary options scams?
No, not if you stick with the information I provide on my blog. Most binary options brokers are legitimate, most binary options "signals" products are also legitimate, but there are a few bad apples out there, too. Some of these bad apples have given the industry a bad name and have scared away people from trying out binary options. That's a real shame, because there's big money to be made if you use the systems I recommend.
Does it cost a lot of money to get started?
Not at all. Funding a brokerage account is free. Many of these binary options systems are also free, or charge very small commissions per trade or "signal" received (much lower than stock commissions). There are also programs you can buy, like Auto Binary Signals ($97). They're cheap considering what you get. You can also sign up for a service like Franco's system, which is $97 every two weeks. Franco is a pro trader, and what you get by signing up with him is a front seat to how he makes six figures a year. And yes, you're copying his trades, so you can make a huge profit, too.
Is there a big risk in trading binary options?
Need some serious motivation?
Let me PROVE to you that I make huge money trading binary options. I've already made $10,000 using Auto Binary Signals with my Optionow brokerage account. Here's my most recent wire transfer and live video proof from my desktop computer showing my bank account. Be sure to open the video and select the HD format and use full screen to see it clearly -- and listen to the video for some extra advice, too:
What do I do now?
For newbies who want to try it out, I highly recommend Binary Matrix Pro. This easy-to-use platform walks you step by step on how to open a brokerage account and begin trading. They offer free webinars and excellent customer support. Signing up is also free. Not only is this NOT a scam, they use an independent agency called "BinaryVerify" to verify all of their claims, as well as an integrated social media system that proves fellow traders are making money and doing very well using their system.
While I've only had it a week, it's one of the best products I've ever used. And like I said, it's basically free. They give you a $300 FREE CREDIT to use their system. That credit lasts about one month if you trade actively, and from there you can buy more credits, and they're pretty cheap.
Check out my full review Binary Matrix Pro for more info.
If you want to take a step toward the big leagues, I recommend Auto Binary Signals. My full review here will get you started.
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