Help

So, having spent the past 5 weeks learning about binary options, including various strategies and signals I'm almost ready to start trading a practice account. The problem is I don't have money to burn and am trying to avoid getting ripped off! I no sooner decide on a broker do a bit of research and find some one has had a bad experience of not paying out, being slow or crashing when they would have been in the money to find when the site gets back up and running they lost. I have £100 for the pot and just want to make sure I'm signing up with the right broker. I was going to go with IQoption until i read a few dodgy posts on them yesterday. I'm now looking at markets world, (although I've also read a few dodgy comments about them) or Ayrex. (Why does every other web site offer a different view on the top brokers) All of these brokers have a low deposit which i will need to take of advantage of to get going. I'm looking for all the help and advice i can get. I've signed up to MT4 for my charts and am looking to use S/R lines along with Fibonacci, Stochastics , MACD and probably Bollinger bands. I plan on only ever using a max of 5% of my account. I've read that i should be practising for a few months before going with a real money account. Is this the case? Any feedback would be welcome, cheers :)

Comments

  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited March 2016
    Brokers are very tricky I agree. Markets World only drawback are the average payout of very low 70% levels and the limited number of trading pairs. They can advertise all they want anything else but 70% is the true average payout. With them once you verify your account I have never heard of any issues with them not paying or playing games like a stockpair or just about every spotoption based broker. So they are the safest bet for somebody starting out imo. The more you practice the better off you are.
  • roosterrooster Posts: 5
    Thank you lotz. So many conflicting stories on binary options from different sites I've wondered if the whole thing is a scam. Been back and forward a few times. Then I read posts from people like yourself and I reckon some of you are for real. I can't stand to be a part of the human farm industry any more, there has to be way and I'd like this to be it.
  • RaidenRaiden Posts: 186 ✭✭
    You posted so much - I'm gonna do it your style - Thank you "Copy & Paste". Spam post above. Experience taught me following a Joker like you above (my dear "friend" jamesscott) will result in the follower NOT MAKING MONEY.
  • roosterrooster Posts: 5
    This doesn't make any sense to me Raiden. Can you explain?

  • RaidenRaiden Posts: 186 ✭✭
    rooster - you missed all the fun. There was a spam post in between our posts. It has been deleted by a moderator. That's why it does not make sense. :smile:
  • roosterrooster Posts: 5
    I'll thank you for inadvertently saving me from their bs Raiden :) So have you turned things around since you stopped following that joker ?
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    The Joker was a Nigerian Spammer that I removed which I do several times a week the same MO "I told myself if I ever made it in binary options I would help other please contact me at [email protected]" LoL anyway they are gone if you see the same type of posts anywhere around feel free to let me know, thanks!
  • RaidenRaiden Posts: 186 ✭✭
    As always Lotz to the rescue. LOL.

    rooster - No Problem buddy. To answer your question......no not this Joker specifically. I learned the hard way. Trading following signals, autotraders or "gurus" results in you losing money, not making it as all these services or people promise/guarantee. But all credit to binaryoptions.net - due to this website and its forum I have learned to differentiate what is good and what is BS.
  • dear123dear123 Posts: 83
    I guess following signals and dreaming money with auto traders are a bunch of crap, they are usually meant to double our troubles as most of them are usually designed to back fire in the middle. While as for binary option brokers, i think Optiontrade, IQoption, Cherrytrade etc are some decent brokers to consider while choosing a broker.
  • roosterrooster Posts: 5
    Thanks for getting back to me Lotz, Raiden, dear123. It's appreciated. hit a bit of a brick wall thinking i was ready for a practice account then realized after checking things out that I was no where near it. Been keeping my head down and learning some new stuff from BSB on signal hive. I have definitely had a breakthrough and will be looking to put some strategies in place over the next couple of weeks. I think i'm getting with the idea that the only way to learn this is to keep your head down and do it yourself. Accepting that i won't be making a profit over night was a pisser but he'ho' To be honest, I'm cool with that but I so just want to prove to myself that this can/will work for me. So, on that note, i wish good fortune to you all. Cheers
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