GOLDEN RULES for NEWBIES/NOOBS "IF YOU ARE NEW READ THIS FIRST!"

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  • mikelkbunnmikelkbunn Posts: 1
    Lions Trade FX (formerly Binary First) are scam artists. They seem legit but if you deposit your money with them you will never see it again. Remember rules #3 and #5. Morgans Options (formerly Morgan's Fianace) is also a scam and should be avoided at all costs.
  • larapaullarapaul Posts: 1
    This post reduced my risk at least! thanks Lads!!
  • harry883harry883 Posts: 1
    hi i m harry from INDIA
  • OkaneOkane Posts: 1,034 admin
    harry883 said:

    hi i m harry from INDIA

    Hey welcome!
  • ItIsBriItIsBri Posts: 2
    edited November 2017

    Rules to follow starting out so you don't get scammed - These are important as this is where most fail with signing up to a new broker.

    Rule #1 - Never invest money you can't afford to lose.
    Rule #2 - A broker makes money when you loose, just like a sports book.
    Rule #3 - Never allow a broker to trade for you. Remember Rule #2.
    Rule #4 - Start trading with a demo account first to prove viability and learn how to trade.
    Rule #5 - If a system/software/bot/trader requires you to deposit/use real money don't do it. It breaks Rule #3.
    Rule #6 - Never accept a bonus that requires turnover and traps your money from being withdrawn.
    Rule #7 - Always trade a percent of your account, a small percent to manage risk and maximize profits.
    Rule #8 - Check this thread about complaints before choosing a broker: http://forum.binaryoptions.net/categories/scam-watch

    I totally agree with that. I'm glad I've read that. Helped me so much!
  • IssambaIssamba Posts: 2
    Issamba ✭
    I started trading with a so called account manager Mr. Bills David on 24 option.com. I deposited 500$ by money gram and after a week my account had 7850$. For withdrawal, he asked me to pay the IRS of 10%. I paid 785$ on money gram and sent him my bank information details. After 3 days he asked my to pay again 785$ for permit fee because of my country. Is this serious? I am fed up. I have got all the slips of payment, the screenshot, our conversion, etc. Please help me solve this money. I need my account withdrawal. Thanks. -
  • OkaneOkane Posts: 1,034 admin
    Issamba said:

    Issamba ✭
    I started trading with a so called account manager Mr. Bills David on 24 option.com. I deposited 500$ by money gram and after a week my account had 7850$. For withdrawal, he asked me to pay the IRS of 10%. I paid 785$ on money gram and sent him my bank information details. After 3 days he asked my to pay again 785$ for permit fee because of my country. Is this serious? I am fed up. I have got all the slips of payment, the screenshot, our conversion, etc. Please help me solve this money. I need my account withdrawal. Thanks. -

    Are you sure you have actually opened an account with 24Option? Because then you simply sign in and select withdrawal.
    Then they will process it. Of course you must have verified your account first which you can do by clicking "My Account" and following the instructions.
  • Hello!

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  • andrew1472andrew1472 Posts: 1
    edited December 2017
    Has anyone tried binary options that could give me some tips or should i just stay away from it as im a newbie?? And is cryptobo a good binary options? Link removed, don't post affiliate scam robot links//MOD - thanks
  • OkaneOkane Posts: 1,034 admin

    Has anyone tried binary options that could give me some tips or should i just stay away from it as im a newbie?? And is cryptobo a good binary options? Link removed, don't post affiliate scam robot links//MOD - thanks

    It's a scam.
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