New to trading


Hiya guys. I've had an offer off someone to join a group who use the 24option platform and sends you signals on WhatsApp. The minimum deposit is £340 and the signals are free for 14 days. £70 per month after. As you can tell I'm pretty new to this, but have a keen interest in making a decent 2nd income. I'm a bit unsure whether to invest or not. Could any of you lovely people offer any advice as if I'm making a big mistake or if it's a risk worth taking? Thanks

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  • OkaneOkane Posts: 942 admin


    Hiya guys. I've had an offer off someone to join a group who use the 24option platform and sends you signals on WhatsApp. The minimum deposit is £340 and the signals are free for 14 days. £70 per month after. As you can tell I'm pretty new to this, but have a keen interest in making a decent 2nd income. I'm a bit unsure whether to invest or not. Could any of you lovely people offer any advice as if I'm making a big mistake or if it's a risk worth taking? Thanks

    Yeah you should be very careful with signal services like that one. It's better if you join a service where you can also actually learn how to trade!
    If you think you can just join some random signal service and make money with no effort you can forget it. I don't understand why they both charge and require broker deposit too. Minimum deposit is actually 250$ with 24Option not 340£=426USD.
    By the way, how are you expecting feedback if you haven't mentioned what group/service they are? There are thousands of such services, if you don't know their name yourself then that's already a bad sign.
  • knightime81knightime81 Posts: 5
    The service is from SO finance.
  • OkaneOkane Posts: 942 admin

    The service is from SO finance.

    sofinancetrading.co.uk ?? Yeah scam. Takes like 3 seconds of Google searching.
    Obvious scam. Also be careful with anyone who approaches you through email or via private messages.
    Another thing, be careful of some of these websites that review services. Overall ALL robots are scams so if you happen
    to come across a site that gives a bad review on one robot but a good review on another then you should know that review
    is fake. Cause none of these services have actual proof of anything, you never learn anything (other than "damn how dumb was I to get fooled by these").
  • knightime81knightime81 Posts: 5
    Thanks mate. Is there a platform you would recommend?
  • OkaneOkane Posts: 942 admin
    edited April 15

    Thanks mate. Is there a platform you would recommend?

    Broker? Or signal service?
    Well, since I run my own Skype group it would feel wrong to recommend myself.
    Maybe you should check BlueSkyBinary. They are present in the forum. I think they have some autotraders or signals too.

    PS. it's good you are asking first. Too many people fall for these types of scams first, lose thousands of dollars and then realize they need to research first.

  • BinarySpotterBinarySpotter Posts: 5
    100% scam, stay away ;)
  • OkaneOkane Posts: 942 admin

    100% scam, stay away ;)

    Yeah.
  • knightime81knightime81 Posts: 5
    Thanks guys. I appreciate your comments. Is it not possible to sign up with a reputable broker as in IQ options,24option etc.. and use a verified signal service?
  • OkaneOkane Posts: 942 admin

    Thanks guys. I appreciate your comments. Is it not possible to sign up with a reputable broker as in IQ options,24option etc.. and use a verified signal service?

    Which service is verified and by whom?
  • knightime81knightime81 Posts: 5
    So what your saying is that there aren't any?
  • OkaneOkane Posts: 942 admin

    So what your saying is that there aren't any?

    I guess you missed my post earlier above.
  • illodillod Posts: 46
    All in all it's not a bad idea, but in my opinion the level of trust to such offers isn't very high. Plus I wouldn't advise getting engaged with such offers because they don't hold themselves responsible.
  • AMTrader255AMTrader255 Posts: 1

    Thanks guys. I appreciate your comments. Is it not possible to sign up with a reputable broker as in IQ options,24option etc.. and use a verified signal service?

    Hello knightime, there are not really good signal services. The Facebook groups usually require a payment or a damn registration. Right now I am in a group called Binary Living Way but who knows for how long it will be free....the best thing to do is to learn how to trade. Plus, I am seriously thinking about moving to forex, BO has been giving so bad stories to traders lately :(
  • The_Geek_MHThe_Geek_MH Posts: 444 mod
    be very careful, most of those signal services are nothing more than CYBER CRIME! they are black hat marketing gurus, not trading gurus, who know how to press your buttons and get you to give them money. If trading was as easy for them as they want you to believe why aren't they MEGA rich, living on their own private island? Because they are full of sh#t. Trade for yourself, accept your own losses when they come, work hard to make profits and reap the benefits, else you'll just lose money, and some more money and some more money while chasing the "holy grail".
  • OkaneOkane Posts: 942 admin
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