Let us take a look at some of the promises you can hear from the internet or you can hear from the binary options broker. As we all know people like to lie, it is just something in our nature because it makes our decisions easier then. So we have compiled some top promises that you definitely should not believe and later thank us! Your welcome!
1. WE WILL TELL YOU WHAT TO TRADE
No one, especially your account manager as your broker will not tell you what to trade. What they do is, they send you market analysis and with that you get few opinion which could point you to which direction the market will go. This way you can see the trend but he will definitely not email you, call you and assisst you on daily basis on what exactly you should trade, which direction and for how long. You can get signals for that but that is another story – i think you should focus on learning it yourself anyway.
2. YOU GET OWN ACCOUNT MANAGER
Well you do and you do not get it. What now? Well this is still a human and he is paid for the work by the broker website, the platform you are using as a trader. If you want to get one especially for you, your deposit must definitely match that and not just minimum one. We are talking about 4 figures and up. There are some good points if you can afford that since he can help you with strategies and 1 on 1 lessons but still, he works for the platform and i would not relly on that even if they say you so. After all, think this way, if you would own the platform, would you take money out of your pocket?
3. BROKER MAKES MONEY IF TRADER MAKES MONEY
Actually it is more like, if you lose money, we make money kind of deal. But you will hear the other version lots of times because it is just easier to tell new traders that since they feel more secured. You have to keep in mind that more then 90% of new traders lose their account and that is theirs profit. If you look on the bright side, if you keep making money, they will also help you make more money since the majority of binary options brokers uses system P&L to make their money which is a total of profit and loss traders make. So, the more you trade, the more money rolls in the platform.
4. PROFIT IS GUARANTUEED
Nothing is guarantueed in life, therefore trading is not aswell. What you trade, that is what you can profit – it is up to you what you can do. if we talk about steady profit, it can happen if you get on a streak but definitely not for a long time,it always ends. So you should stick to rules and not think you are some sort of god or genious. But as long as you have strategy and stick to it you should be able to make profits and that is what you want.
5. WITHDRAW YOUR MONEY WHEN YOU WANT
Would be great if you could do it in 24 hours time but unfortuneatly the reality is far different from that. Because you need to have verified account, sent the documents to the broker of your choice and then when you do a withdrwa request, it usually take atleast 48 hours of time to process this. Then the money is sent to your specified account which takes another 2-3 days depending where you are located it can take even more time. Make sure aswell which broker you choose and that they are regulated so you do not get scammed at the end.
At the end, if it sounds to good to be true – then it usually is. I think you do not want to regret a decision and look as the guy in the picture. I would recommend that you check our recommended binary optiosn brokers so you know who are you dealing with and atleast you will sleep better. Use common sense and learn to trade and relly on yourself then others and you will go longer and more profitable way.