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New to binary & trading. help and thoughts?

luvbinaryluvbinary Posts: 5 ✭
in Beginners Questions
Hey there,
i've been interested in trading for some time now, and therefore 2 weeks ago i decided to go ahead and open an account with a certain broker. i've had many offers and many representatives hitting me on the phone, trying to market their own brand and so i decided to trust my intuition and go for the broker which seemed the most reliable and realistic to me. obviously i'm afraid, even though i get the help of a professional i find myself petrified in front of the platform quite often.
my questions to you, the more experienced traders, are:
is making actual money (i've already managed to withdraw, but i'm talking about bigger amounts) out of binary options possible?
are there any hints on how to track a reliable broker? (the one i'm working with currently seems ok on this, but i'm looking to extend)
any good tips and strategies as for how to grow in this field?

thank you so much in advance.
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Comments

  • marcusfmarcusf Posts: 4 ✭
    1. yes, it is. but it is not a magic, as people may describe it to you. you'll have to put some time in it, and get some knowledge. any good educational center from your broker's side?
    2. check regulations. anything that enforces your broker to obey and follow regulations rules (such as sending funds until up to 14 days from withdrawal). any really i'd recommend you test withdrawal requests with every broker you sign up with right on the beginning, as soon as possible - because you cannot really tell what the broker is all about even if you browsed the whole net looking for reviews.
    3. start learning. step by step. webinars. news. many great video tutorials. search your broker's website, youtube, google everything. but don't underestimate learning and knowledge!
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  • luvbinaryluvbinary Posts: 5 ✭
    marcusf said:

    1. yes, it is. but it is not a magic, as people may describe it to you. you'll have to put some time in it, and get some knowledge. any good educational center from your broker's side?
    2. check regulations. anything that enforces your broker to obey and follow regulations rules (such as sending funds until up to 14 days from withdrawal). any really i'd recommend you test withdrawal requests with every broker you sign up with right on the beginning, as soon as possible - because you cannot really tell what the broker is all about even if you browsed the whole net looking for reviews.
    3. start learning. step by step. webinars. news. many great video tutorials. search your broker's website, youtube, google everything. but don't underestimate learning and knowledge!

    thanks for your answer. i'm currently with trader vc.. do you know anything about them? i was able to withdraw but i'm afraid i'll face problems if my balance gets bigger? can anyone recommend off their own experience?
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  • OkaneOkane Posts: 1,282 admin
    luvbinary said:

    marcusf said:

    1. .. search your broker's website, youtube, google everything. but don't underestimate learning and knowledge!

    thanks for your answer. i'm currently with trader vc.. do you know anything about them? i was able to withdraw but i'm afraid i'll face problems if my balance gets bigger? can anyone recommend off their own experience?
    TraderVC doesn't seem to be regulated so yes, you can expect trouble in the future.
    Are you based in the US? If so, try Nadex instead. If not, go with 24Option.

    "Bigger amounts" is a relative thing. Don't expect to make millions, if you saw that on some YouTube channel they are just fooling around on a demo and are scammers.
    I had some issues with some brokers before so yes it's true but with 24O I have been good, they are well-funded.
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  • marcusfmarcusf Posts: 4 ✭
    luvbinary said:

    marcusf said:

    1. yes, it is. but it is not a magic, as people may describe it to you. you'll have to put some time in it, and get some knowledge. any good educational center from your broker's side?
    2. check regulations. anything that enforces your broker to obey and follow regulations rules (such as sending funds until up to 14 days from withdrawal). any really i'd recommend you test withdrawal requests with every broker you sign up with right on the beginning, as soon as possible - because you cannot really tell what the broker is all about even if you browsed the whole net looking for reviews.
    3. start learning. step by step. webinars. news. many great video tutorials. search your broker's website, youtube, google everything. but don't underestimate learning and knowledge!

    thanks for your answer. i'm currently with trader vc.. do you know anything about them? i was able to withdraw but i'm afraid i'll face problems if my balance gets bigger? can anyone recommend off their own experience?
    honestly i don't know, so i can't tell. but if you managed to withdraw, that's a good sign.
    i think you should go ahead and get yourself an additional broker
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  • luvbinaryluvbinary Posts: 5 ✭
    thanks for the recommendations! i think i'll try to stick to my current broker and check your recommendations for an additional broker. i'm known of the fact i'd rather have more than 1 broker

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