24 Option

Hi guys,

I Signed up to 24 option with a company called So Finance.
They have been feeding me signals for the last 2 weeks and my account now is down to 99p so it has not gone well at all.
So i am now £250 down.

Anyway 24 option have contacted me and my account manager David Goldenberg.
I have been watching his live webinars he does they are on youtube as well. He seems to use the martingale strategy but only when the asses passes the bollinger lines top or bottom.

So when it does pass the top or bottom lines he will do a 60sec trade if it fails he will trade again at the end of every unsuccessful trade increasing the amount each time on average i would say he uses between 0 and 3 what he calls recovery trades.

He wants me to invest 12k and i will receive a 12k bonus and this will then give me upto 8 recoveries and looking at all his webinars he has never needed that many tops i have seen is 5.

I have been using his method on IQ demo account and it seems to work for me i have been using $1 trades and x by 3 each time and the most i have hit is $81trade i have been does this for a little over a week now.

What do you guys think?

Thanks

Jonathan

Comments

  • The_Geek_MHThe_Geek_MH Posts: 667 mod
    do not give that guy $12,000, absolutely not. If you have already given a deposit and already have an account just keep trading it and have some fun, don't let them dazzle you with ideas of making ten of thousands of dollars because all you will do is lose your $12K, seriously.
  • hemmjonnyhemmjonny Posts: 3
    Cheers for the info. My gut is saying runaway fast as nothing is that easy. Watching his videos he makes it look so easy and when i watch live again it looks so easy and i even watched the assets he was trading on to see if it was true and he was spot on 100% of the time.
  • OkaneOkane Posts: 1,279 admin
    Those are typical "broker" education. You are not going to make money gambling like that.
    It's time to wake up and stop listening to signals and account managers. An account manager and you are in a conflict of interest
    so you should do your own trading. Start learning price action trading and how to read the charts.
  • hemmjonnyhemmjonny Posts: 3
    edited September 2016
    Cheers again guys. so basically don't be lazy and do it myself :-)
    I did ask how do they make money if you are showing me away to win every time and he said "from people like you at the moment who do not have a clue what you are doing."

    Here is his youtube Videos/Webinars that he posts every day

    https://www.youtube.com/channel/UC3XOxeaZ2nqZDJXILBRc09g
  • arif9m9arif9m9 Posts: 33
    This is a major trap. Martingale is the best way to DESTROY your account. Remember, brokers only win when you lose, so why would your 'account manager' want you to win? STAY AWAY.
  • OkaneOkane Posts: 1,279 admin
    hemmjonny said:

    Cheers again guys. so basically don't be lazy and do it myself :-)
    I did ask how do they make money if you are showing me away to win every time and he said "from people like you at the moment who do not have a clue what you are doing."

    Here is his youtube Videos/Webinars that he posts every day

    https://www.youtube.com/channel/UC3XOxeaZ2nqZDJXILBRc09g

    lol, well at least he gave you an honest answer on that one haha.
    Look, 24O is a good broker but in general, regardless of which brokerage you are with,
    don't let account managers trade for you and learn to trade on your own and make your own
    decisions from reading the charts.
  • mythosmythos Posts: 2
    by the way also be aware that iqoption tells you the demo is identical to the real, but it is NOT !!, the real has a feature called exposure, telling you how much the max investment is at a given time for put or call, sometimes your martingale will not go through since it might be higher than the exposure level, sometimes this exposure level goes down to even zero and then you can not place a trade, the demo does not have that you can always place 5000 dollars, cheers
  • OkaneOkane Posts: 1,279 admin

    If I may ask is it possible to invest with $500 and make $6000 after a 21days trade.
    I'm asking coz I'm at that range now
    I doubt if it's possible but I already made withdrawals once tried again all I could see was to upgrade
    Please I need idea on this

    Sorry I can't really make out what you mean by that "I'm at that range"?
    And what do you mean "All I could see was to Upgrade" Upgrade what? See where? what?
    Please make sense.

    How much trading experience you have? I am guessing not much and in that case no you are not going to make
    6K out of 500... All these people who want to get rich withing days/weeks lose their shirt.
  • suchiangsuchiang Posts: 63
    choose a broker from outside country.. and put 10000 usd .. its take 10 year to build your account and 5 miniute to loose .
    ANd also can this binary industry survive over next 10 YEAR.
  • The_Geek_MHThe_Geek_MH Posts: 667 mod
    suchiang said:

    choose a broker from outside country.. and put 10000 usd .. its take 10 year to build your account and 5 miniute to loose .
    ANd also can this binary industry survive over next 10 YEAR.

    it will but it will look a lot different than it does now. Not all brokers are scammers, it's just the bad apples right now making the whole bunch look really bad.
  • suchiangsuchiang Posts: 63
    ok not all broker are scam .. so , Why choosing a broker outside country ? ..Every country have bank,broker,insurance and more .
  • ChrisTChrisT Posts: 2
    Hi everyone! If you don't mind me joining the discussion, I came across some pretty serious warnings about this company while I was browsing things on https://binaryoptions-forum.com/24option-t37/. I'm pretty new to binary trading but have read a lot about it lately and that's not the only place where people complained about them. Looks like this is maybe not a broker worth your time and money. I'd suggest you invest some more time to research before your decission.
  • OkaneOkane Posts: 1,279 admin
    ChrisT said:

    Hi everyone! If you don't mind me joining the discussion, I came across some pretty serious warnings about this company while I was browsing things on https://binaryoptions-forum.com/24option-t37/. I'm pretty new to binary trading but have read a lot about it lately and that's not the only place where people complained about them. Looks like this is maybe not a broker worth your time and money. I'd suggest you invest some more time to research before your decision.

    Nah, they are regulated and well-funded. I never heard anyone not getting their money out from them.
  • has anyone come across or have any experience with eric jansen and dan phillips from 24option?
  • OkaneOkane Posts: 1,279 admin

    has anyone come across or have any experience with eric jansen and dan phillips from 24option?

    Those names mean nothing. He could be Eric to you, John Smith to me and Philip O'brien to someone else.

    HOWEVER, in general, you are NOT supposed to listen to account managers when it comes to trading recommendations.
    You should only speak with them regarding withdrawal requests, account verifications and issues you may have. If they tell you
    do this or do that on how to manage your account tell them no thanks we are in a conflict of interest and I have no desire in following your recommendation.
  • bitwellbitwell Posts: 5
    hemmjonny said:

    Hi guys,

    ... He wants me to invest 12k and i will receive a 12k bonus ... What do you guys think?

    Thanks

    Jonathan

    I think you need to look for another broker And platform. Scam written all over. This strawberry jam is grey, through and through!
    I'd even report them.

    Having said that. Myself I used their "Live Chat".
    Posted my "compulsory" question to initiate the Chat
    Been told 3 other before me
    Waited
    Been told; "Your chat started now"
    Waited 2 minutes.
    Asked the question Again
    Waited another 2 minutes
    Left 24Options and threw the key away.

    I used "really countless" live chats in all possible industries. Not once had I ever experienced something alike. You need to ask yourself, how far are you willing to come down to meet at their low level. Somebody who does not respect me doesn't earn my respect. It kept me safe.
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