What are binary options?
Did you know about 300 millionaires are made per year due to people trading binary options?
Yes, 300 millionaires worldwide.
There are thousands of people who make $100,000+ doing it, too.
So, is it worth your time to learn how to trade binary options?
The obvious answer is a resounding, "Yes!"
Without further adieu...
A lot of people are confused by binary options -- and rightfully so! I was confused, too, when I started out.
So 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.
- Anyone can trade binary options! It's so much easier to understand than Forex or stocks.
- You simply pick whether a unit will go "up" or go "down" in price (hence, the cartoon above) during a certain period of time.
- For example, you pick if the Dow Jones Index will go "up" or "down" for a specified period, maybe 60 seconds, 1 minute or 5 minutes. If, after 5 minutes, it goes "up" and you traded a "call" option, YOU WIN. It's THAT easy.
- But you can't just "guess" what will go up or down! You need market signals.
- Signals are algorithmic calculations made by advanced computer programs called "trading bots" that let you know when a currency, stock or commodity is going to go up or down.
- 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 for them. They call them "trading bots". They are automatic!
- An example of advanced auto trading software includes the free and professional Pro Robot system.
- To trade binary options, you must open a binary options brokerage account. A broker is where you put your money so you can trade.
- Opening a brokerage account is very easy and you can use a credit card (I recommend CTOption, they offer a 150% bonus on your deposit).
- 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 those listed on My Top 5 Binary Options Systems Master List. Check my Master List for the best trading bots!
- By using "signals" software, you give yourself a BIG edge to make profitable trades.
- It's all automatic, so you don't have to sit all day on the computer analyzing the market yourself!
- If you use the auto trading bots on my Master list, you can just point and click and let the auto bot do the trading for you.
How much money can you make with binary options?
Anything is possible, depending on whether you use the best systems!
I would say many people are successful at it, because these new advanced trading bot "signals" programs are giving the public an edge; the kind of edge only pro traders and elite rich people used to have access to
It is important to remember that with any trading there is great risk involved. You can potentially lose all of your money. You should take all appropriate steps to read disclaimers for any company you work with, and to be aware of all risks involved.
Do I have to worry about binary options scams?
Most binary options brokers are legitimate, most binary options "signals" products are also legitimate, but there are a few bad apples out there, too (like TradersKing and EUOptions - avoid them!).
Some of these bad apples have given the industry a bad name and have scared away people from trying out binary options.
Scam sites like "One More Cup of Coffee.com", Dale Rodgers, Valforex, Top10BinaryDemo.com (a scam site), BinaryToday.com, BinaryOptions.net and "NancyReviews.com" are also misleading and confusing a lot of people.
These sites are run by bad brokers, and they are very sneaky and nefarious! YOU MUST AVOID THEM and be very careful which binary sites you trust!
There are also scam trading bots like My Cash Bot (which I've exposed in this review).
It's a real shame, because there's big money to be made if you have the right information. I do my best to keep people updated on the scams via my email newsletter and Twitter account. If you're not getting my newsletters or reading my Twitter, you're at real risk of not getting the right information.
Does it cost a lot of money to get started?
Not at all.
Funding a brokerage account is free and usually starts at a minimum of $250. Many of these binary options systems are also free, too, because brokers are looking for new clients.
Using my Master List, you can pick and choose which ones you want to start with. Scroll down my Master List and look at all of my broker recommendations, too.
Is there a big risk in trading binary options?
If you use top-tier software like the ones mentioned in my Master List, you're giving yourself a huge edge, in my opinion.
If you educate yourself using the materials on my website and take your time, read my website and sign up for my newsletter, read my very important "Portfolio of Systems" article, and if you're not greedy, you could have success.
What do I do now?
For newbies who want to try it out, I highly recommend the completely free Professional Robot by George S. (click here to get it).
This easy-to-use platform walks you step by step on how to open a brokerage account and begin trading. Remember, it's 100% automatic, so don't be intimidated! George's system is designed for "hands free" operation.
They offer free webinars and excellent customer support. Signing up is also free.
It's one of the best products ever and the mountain of testimonials that have poured in has been impressive (go to my Master List and scroll down a bit and you'll see Professional Robot listed along with all the testimonials I've gotten).
If you want to take a step toward the big leagues by using a SIGNALS SERVICE (a manual system, not an automatic trader), I also recommend Auto Binary Signals. My full review here will get you started.
I also recommend my "paid systems" link here that will show you some great signal, very low-cost services, like Quantum Binary Signals. These systems can make HUGE profits.
To move beyond just using one or two programs, I HIGHLY recommend joining my mentor program for helpful advice. My "Portfolio of Systems" article is also a "must read" for getting started.
Any questions? Just email me here. I try to personally respond within a few days.
Roy @ ScamWatchdog.org
Disclaimer: Binary options are risky, may lose value and are not considered a safe form of investment. Roy is not a licensed trader and only offers his opinion.. U.S. Citizens should only trade with the regulated broker called Nadex. Understand the risks of trading online, always research your broker, never deposit more than you are willing to lose. Please read our site disclaimer for more information.