The truth about binary options« Back
I decided to write this article for people who treat different ways of earning money online with suspicion and caution. Many of these people strive for financial well-being, but due to some prejudices and common myths, they cannot take the opportunities offered on the web seriously. We will discuss binary options exchange trading and the main myths floating around on the RuNet.
So, trading binary options is a real way to increase your savings. Here are the main myths that cast doubt on this assertion:
Myth 1: Broker fraud
Binary Options are a method that scammers use to defraud honest people!
Such a statement can easily be found on websites and forums where traders who fail want to vent about all the alleged "truths" of stock trading. But, at the same time, they don’t want to understand their mistakes! Of course, if you start trading without training, a systematic approach, or strategies, and most importantly, you treat the choice of a broker company lightly, then nothing good could come of this. You’re just playing a game of chance that is impossible to win!
Here's my personal example that completely refutes this myth. I have been trading binary options for 3 years. In the beginning, I also became victim to fraudsters and lost 200 dollars, not because I didn’t know how to trade and make a profit, but because of the dishonesty of the broker. However, I analyzed my mistakes, approached everything very seriously, and now I have good results. In my support, here’s a screenshot of my trading account:
Note the amount of my trading capital and, I haven’t been cheated in a long time!
Myth 2: Binary options have nothing to do with the financial tools of the exchange market!
That can only be said by people who have no concept of exchange trading or the tools used to profit on financial markets. In fact, options and futures markets have existed for a long time. However, options were previously available only to large financial companies and banks, and the process of making a profit on them was quite difficult. Binary options are a derivative of classic options that have become available to absolutely everyone and, in particular, traders who trade on the internet. At the same time, the algorithm of binary options includes everything taken from classic options and other financial tools. Simply put, binary options can be called an adapted version of classic binary options for use by private traders.
Myth 3: Affordability!
You need huge amounts of money to trade binary options!
Almost anyone who is invited to start trading stock options believes that they need to invest a lot of money. This is absolutely not true! Many brokerage firms do not have such a requirement in their trading conditions. You can start trading with a minimal investment, for example, the Binomo broker, with whom I deal myself, offers accounts from $10 and you get access to the financial market. In addition, there is a method that does not require any monetary investment for options trading. This is the so-called no-deposit options.
With the help of these gift transactions, you can engage in trading and start your journey in the financial market without investing. It is important that they are provided without any additional conditions or funds from trading them, and that they are available for withdrawal immediately, that is, without the requirement of depositing a certain amount in your account. The same Binomo broker gives you free options immediately after registering on the site, and does not have any conditions regarding this.
That, in my opinion, is the main reason people do not consider binary options trading as a means of stable earnings. Don’t believe the myths, they often do not correspond to the actual state of things, try following the simple guidelines and you will be completely financially secure.
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