Good Binary Options Traders. Part 4

Binary options traders are financial market participants who specialize in trading an exotic type of derivatives known as binary options (BO, digital or fixed contracts). In a simplified version, digital contracts are derivative financial instruments whose underlying assets are exchange-traded and over-the-counter assets, from commodities and stocks to cryptocurrencies and options.

The task of a digital contracts trader comes down to predicting the price of a financial derivative above or below a set point for a specific time period. In binary trading, the percentage of income for each transaction is fixed in advance, but if the speculator’s forecast is not met, the latter loses the entire bet. Therefore, digital contracts are also called all-or-nothing options.

The profitability of BO lots ranges from 60% to 90% per transaction, which makes this type of trading assets one of the most highly profitable investment instruments. Along with profitability, the second point that explains the growing popularity of fixed contracts among the population of the CIS countries is the mobility and accessibility of the market, where the best binary digital options traders, due to increased competition, offer cheap consulting services:

trading signals;
trust management;
training, consultations, etc.

Our information and analytical service checks providers of such services, allowing us to identify the TOP speculators of binary digital options from the general mass of traders, exposing scammers and amateurs who make money on the trust of Internet users. After studying the materials on our website, you can choose a reliable analyst for cooperation without the risk of being deceived.

Making a Binary Options Scam Plan

Traders who were included in the list of defrauded investors began to work long ago on ways to deceive the brokerage company. Therefore, the main goal is to find a solution that will allow you to cheat binary options.

Unfortunately, not all investors have basic hacking skills, so hacking the system is not our option. Moreover, in order to learn codes for binary options, a high level of computer and software knowledge is required. But, there is still higher education and resourcefulness in stock.

For a long time, brokerage companies were subjected to analysis and detailed study of investors. Ultimately, we came to the conclusion that all brokers have one characteristic feature. This is what you can easily use to generate income. Due to this, you can complete transactions out of ten and eight with a profit. Therefore, we can safely say that two trades with a loss is an excellent option for those who are eager to make a profit from the broker.

But then traders realized that, unfortunately, this can only be used once during one week. Don't be foolish, this happens four times in one month. Believe me, this is not a bad number. As an example, let's say the bet is $25. That is, it is logical that the coefficient ratio reaches 80 percent.

For example, there were eight trades with profit, plus two with loss. In one month, the profit will be around $640. In this case, $200 will be lost. The total is $440.

Who are the best traders and where to get information about them

The administration of each broker can name several traders who trade on its platform and receive large payments. They usually receive additional benefits from the company, and in some cases become its employees. Information about such analysts was previously published directly on the websites of companies, but now it is closed due to restrictions on the dissemination of personal information.

In addition, the very concept of “successful trader” is vague. After all, he is not so much a person who was able to earn 5-10 thousand dollars in one trading session, which he successfully “leaked” the next day. In addition, for some, earning 5 thousand dollars is not a success at all, but for others this amount is the ultimate dream.

Successful traders can safely be classified as those specialists who can earn a stable income regardless of the market situation, external factors, mood and other parameters. How do financiers achieve this? Everything is very simple. It is enough to master several skills, which are described in detail in the next section.

Characteristics of a fraudulent brokerage company

The very first step when starting trading is choosing a broker. This is where the investor often makes a mistake. Without really knowing the criteria by which to choose a brokerage company, the trader is fooled by tricks and tricks.

A logical question: “How to choose a broker?” The answer is simple, it is best to choose a company that provides one-touch options with a long expiration period.

The one-touch option will help the trader at the time of determining the movement of the call and put options. The recommendation of successful investors regarding this option is that it is best to choose an expiration date of six days.

Then you have to determine the price movement. On weekends, be sure to go to the platform and see where the upper and lower strike levels for the one-touch option are located.

When the trader makes the above manipulations, he must determine as clearly as possible the number of points that separate the current price and the beginning of the upper, and then the lower strike level. In this case, you need to buy a call option. This algorithm also works in the opposite direction, only in such a situation you need to purchase a put option.

Stories of real traders and the strategies they use

Of greatest interest to beginners are the specific personalities of traders who have already achieved success, as well as the trading methods and strategies they use. Therefore, this is exactly what we will talk about next.

Alexander Arshansky

This man was forced to engage in options by urgent necessity. Due to the crisis that broke out in our country, Alexander was unable to repay a loan taken out from one of the banking institutions on time. His not very large salary was spent almost entirely on the construction of a home for his parents, so it was not possible to allocate funds for repayment.

After the delay became quite long and calls from collection agencies began to arrive with enviable regularity, Arshansky began to look for ways to get out of the current situation. Even then, he heard about binary options, but the idea of doing this type of activity never occurred to him. However, a drowning man clutches at any straw and Alexander registered his first account.

Why this broker? Oddly enough, the future successful trader was captivated by the simplicity of the procedure. To gain access to the trading platform at the initial stage, you do not need to fill out dozens of fields and provide a copy of your personal document. Moreover, after registration, all users are provided with a demo account for training, which was important for a person who could not spend extra money on training.

Imagine Arshansky’s surprise if already at the initial stage he was able to earn more than a million with “virtual” money. The only upsetting thing was the inability to get this money in reality.

This is what served as an incentive to replenish the account with real funds. But, as happens with many, already the first transactions reduced the deposit to 250 rubles. And Alexander began to be tormented by doubts.

To avoid further losses, the novice trader decided to listen to the advice of experienced analysts and study. Directly on the company’s website there are links to the Trading Academy, where links to hundreds and thousands of educational materials are available for free.

After reviewing the proposed materials, Alexander decided to opt for the Binary Gambit strategy. In addition, for completing the training, he received additional bonuses from the broker, which could be used for work. After this, the work went much more efficiently and now Arshansky has successfully paid off the bank and continues to build a house for his parents.

Yuri Antonov

Yuri is one of the traders who has achieved success in options trading, having switched to this type after trading on Forex. There he did not achieve much success, since he did not have enough patience to maintain open trading positions for a long time. Therefore, he was mainly engaged in scalping, catching profits on rate fluctuations within 4-5 ticks.

Over the course of his long work, Antonov has already learned to analyze charts quite effectively and correctly determine the direction of further price movement. However, he was unable to make a big profit on Forex, since the size of the profit there depends on the position that the price was able to reach.

At first, Yuri was skeptical about binary options trading. However, I quickly realized that opening and closing transactions here is easier and they give a fixed profit regardless of the price value. Only the direction matters.

At the first stages of his work, Antonov tried to copy his actions from Forex. That is, I installed many different indicators on the chart, which ultimately were not useful due to too much information to be analyzed.

Ultimately, Yuri abandoned the use of indicators and switched to scalping based on graphical tools. The essence of his strategy was as follows. He drew support and resistance lines, focusing on local price lows and highs. After that, I opened upward positions when the chart rebounded from the support line and downward positions when it rebounded from the resistance line.

To improve performance, this successful trader says, you need to choose assets with low volatility or trade during periods when the chart experiences the least fluctuation.

What is the essence of the described algorithm?

The point is quite simple. The peculiarity lies in the fact that the target levels for an option of this type are determined by the broker employee who conducts such calculations.

Its task is to prevent the price from reaching the strike level; as a result, the speculator suffers losses, and with a constant test of fate, he can lose the entire deposit.

If we work according to this model, then we get a kind of insight. Because initially, in order to set certain strike levels, the analytical department of the broker company makes a clear forecast. And only after that the manager sets the target level a little further to the current value ratio. This is done with the expectation that the price will not reach the set level.

Due to the fact that tricks do not play in favor of the broker, they only provide an opportunity for the trader to make money on trading. The manager does not even consciously help the investor, since he shows in which direction the price of the asset will be directed.

What unites them?

So, we told you about four real successful binary options traders. These are completely different people who came to trading in different ways, and do not even know each other.

Of course, many people have a question: what do they all have that helped them master the market as much as possible? There are several such qualities, and they can be easily seen in blogs and interviews with these traders:

Perseverance. There will always be leaks, but you can never stop. Let failures be lessons, not reasons to give up.
Self-control. We have talked a lot on our website about the dangers of excessive emotionality in trading. These people managed to control themselves and are now resting on their laurels.
Desire to learn. You should never stop your self-learning. Even if you think that you know everything about the market, this is still not enough.

Every trader must have these qualities, and if you don’t have them yet, then you need to train and develop them.

And of course, experience, you can’t live without it. You need to train and study. Trading differs from casinos in that it requires knowledge and skills, and luck is just a minor accompanying factor.

Broker risks

Some, having understood the essence of what a broker earns from, wonder why he should take such a risk. After all, with a large number of professional traders, he can simply go broke.

The answer lies on the surface. Such companies operate in the same way as, for example, insurance agencies - with the expectation of the majority. 90% of traders will lose, it's inevitable. There are three main reasons:

Banal laziness - no one wants to learn, understand, or use knowledge. Everyone prefers the most superficial analysis or its complete absence.
There are a huge number of beginners who do not understand this topic at all, but still really want easy money on the Internet. Millions of people want to make money online, and almost all of them are sure that work here must certainly be simple, take a minimum of time and bring in huge income. They flock like butterflies to brokers' offers.
A significant percentage of clients are the most common gambling addicts. They moved from slot machines to online casinos, and now they are “mastering” binary options. They do not need winning, but the process, excitement, adrenaline.

Due to the above reasons, brokers will most likely never have a shortage of money. And even the appearance of professional traders among clients does not greatly affect their financial condition. Want them to share with you? Then get involved.

A short preface

Every day, BO trading is gaining momentum as a popular form of earning money on the Internet.

Read about what BO actually is. Trader reviews in simple words

Moreover, BO brokers provide the right to conclude transactions not only on standard Forex currency pairs, but also on shares of large companies, indices, and commodities (oil, gold, silver). A financial market participant knows in advance the potential amount of profit and loss. That is, when the deal is concluded, changes in the exchange rate of the currency being traded will not affect the amount of profit or loss in any way.

If we talk about risks, the trader sets the percentage by concluding a transaction after choosing the investment amount.

You do not need to go to a special institution (exchange) to conclude this or that contract. It is enough to have access to the Internet, a computer and the desire to earn money at home. You choose the weekend for yourself, trade at any time of the day right on the couch with a cup of tea.

Surely you are already asking yourself the question: how to become a successful trader in the BO market and earn enough money to not need anything?

First of all, we recommend that you familiarize yourself with the material on what binary options are and how to make money on them. Then read the material on CALL and PUT option strategies.

Then, when you have at least a minimal understanding of the BO market, you can get acquainted with how successful traders of binary contracts trade in order to eventually repeat everything on a demo account, and then consolidate the acquired skill on a real account.

How to complain about a broker

How do traders get scammed? Very simple. Usually via:

managers (“personal traders”, “analysts”);
bonuses;
signals;
various stupid enticements, like “let us do the bargaining for you.”

Over the years, many, many people have emailed me—thousands. It was the managers who dumped many of them. Where can I complain about them all?

The answer is simple - nowhere. From a formal and legal point of view, you yourself agreed to the consultations offered to you. The manager told you “we are offering a strategy” and you yourself signed up for it and agreed. If you give money to a fraudster voluntarily, he is clean before the law. But the opposite can only be proven through a court, and in a foreign jurisdiction. Of course, you have neither the knowledge, nor the money, nor the capabilities for this. As soon as you, with your mouth open, listened to at least a proposal from the manager over the phone, you are hooked.

The price went against me, it's a scam

Sometimes there is an opinion that some binary charts are designed to deceive the trader.

This is wrong. In the entire history, there were only 2 black, frostbitten offices back in 2013, which worked as follows: everything worked out for you on a demo account (the results were simply drawn) and nothing worked out on a real account.

However, such manipulations are so primitive that chernushniks were washed away from the market long ago; they lasted only a few months. It’s easy to compare the charts; over the years, people have more or less understood how the interbank system works, and this method has lost its meaning.

To figure this out, you:

place a live chart and a broker chart with the same timeframe;
and compare price movements.

For most brokers it will be identical. Substitution of quotes can be detected in 1 second, so companies have not used this technique for a long time.

From time to time, the candles on the broker and on other charts will differ slightly . This is a feature of the foreign exchange market, where there is no single source of quotes and is a normal situation.

Remember that there will always be slight differences in numerical values:

In the foreign exchange market there is not one source of quotes - there are hundreds of them - since it is an over-the-counter market, so this is parsley. Quotes vary. Always. And numbers, and sometimes movement. One candle may be a pinbar, another a doji.

Therefore, you need to work either strictly according to the broker’s schedule, or choose a broker where the discrepancies are minimal. In short, this is not a problem and you don’t have to worry about quotes.

Where and for what reason to complain

Previously, you could open your company’s regulator on the forum and file a complaint. However, if you:

invested funds on the advice of managers;
subscribed to the signals service;
listened enough to YouTube/Telegram gurus;
bought a “guaranteed” binary robot.

Nobody will return anything to you. The only way to prove a manager’s malicious intent is through court - guess what, over the years there has not been a single such precedent.

If the broker is regulated, you need to complain to its regulator directly. But this is where the nuances begin. In the years since the first edition of this lesson, the world has changed a lot.

Regulators are all

In 2013-2016, during the glorious era of the heyday of BO, black companies traded in total bans - clients were banned even by IP and their accounts were deleted (sic), just so as not to pay out funds. Gray companies acted differently - the client was paid his sum and the account was closed, with or without reason.

In white, the risk management systems caught especially greyhound martingale players from the start and their interest rates were reduced so much that they left the platform themselves. Those who removed it moderately worked (and are working) for years.

For 2021, the situation has changed dramatically. BWs are now banned in the EU—European regulators no longer regulate what “doesn’t exist.” The main black companies went bankrupt and there are now active lawsuits against them in the United States for hundreds of millions. There are still cases of outright scams - in a small number of old black offices (these are those where on YouTube/Telegram partners under the guise of “rich traders” show money, and clients are attacked by phone), but these are the last of the Mohicans.

Now the world is polarized - either the company pays everything (you made the right choice), or you got into trouble and... that's all. You gave money to robots, managers, signalmen and YouTube storytellers voluntarily .

You will have to do a chargeback through a bank with little chance of success, or contact offices that “return” the funds, which will throw you away twice.

This is why choosing the right broker from the start is so important - your entire future trading fate depends on it. Binguru has taken on a small part of this burden, but you must learn to choose the right companies on your own and without my help. That is why, from lesson to lesson, you are given a fishing rod and instructions for using it - and not a ready-made fish.

Complaints on forums

Complaining through the forum is effective. Sometimes they give a much greater effect than turning to a conditional regulator, which has not cared about anything for a long time.

Therefore, if you have problems, do not hesitate to leave your feedback in topics about brokers both on our forum and on specialized Forex forums. Public image is incredibly important now and many topics on the forum, including here on Binguru, have official representatives.

When you make a complaint on the forum, be constructive and calm. Often such complaints are wild screams of indignation, in which it is absolutely impossible to discern the essence of the problem.

Inexperienced traders absolutely do not know how to control their emotions and their complaints are sometimes such that you want to feel sorry for the broker that they got such a client. Of course, we ban those who scream like a donkey during the mating period, without wasting even a minute of personal time.

There is also a blacklist on the forum, which describes some outright scammers in the binary industry. But it was already outdated and I stopped replenishing it. It remained simply as a reminder of what black business generally looks like.

The reason is simple - I am a supporter of exclusively white lists and common sense. There are always not even hundreds, but thousands of companies on blacklists. There are an incredible number of scammers in the world. Hundreds of them appear and disappear every day. Keeping track of all this... I have more interesting things to do in my life. And so do you.

This makes no sense, especially since they are all similar. Everyone calls on the phone and spews nonsense - well, is it really so difficult not to work with companies that rape you over the phone? You don't need any lists. Once you learn not to listen to scammers on the phone and that’s it.

Therefore, use your head, it will be your best assistant (for some reason, however, it does not help most people).

How to avoid falling into the clutches of binary scammers

Briefly:

talk to the manager (if he calls) 1 time ;
if the manager insists and bothers you, run away immediately ;
do not take bonuses, signals, “personal assistance” from a binary company, do not take anything at all and never ;
don't communicate with them;
invest the minimum amount;
work with a demo account first;
rely only, exclusively on yourself.

Let's avoid troubles...

What to do? You need to analyze the market on other timeframes. Assess the general situation on a larger timeframe (see what is expected in general), back it up with analysis on a smaller interval. When you receive buy or sell signals there (there should be at least three of them), you can open an options trade.

For better analysis, you can use regular MT4. Some may find it more convenient to use the program on the website of the selected broker. Sometimes it is not possible to make forecasts on MT4 - simply because the required asset is not there (shares of a certain company, for example). Then you need to learn analytics in the website program or change your choice. In any case, the use of a demo account is initially required .

In addition, you need:

Choose your own strategy for working with options.
Practice it on a demo account. If your broker does not give you the opportunity to try on a demo (this happens, although not often), either practice on a competitor’s website, or even change it to another one.
Choose a long-term or medium-term perspective. At least from H4, and preferably from D1 (4-hour and daily intervals). Although you may feel that this is a “disadvantage” because you have to wait a long time, you will quickly find that this approach is more reliable.
Keep a record of the money you made and lost so you have an idea of how things are going. This is important both at the stage of using a training account and in the future.

Options are not as simple and beautiful as brokers make them out to be. But they are not as scary as many bloggers say about them. In fact, this is akin to Forex - self-organized people who know how to think make money here. And everyone else is losing money playing roulette day after day. And only you can decide which side you will be on.

Deception of traders

When looking for ways to make money, the main thing is not to become a victim of scammers yourself. Unscrupulous brokers can deceive. The TOP companies include only honest, proven trading platforms that you can trust. You can earn money from them and withdraw funds without any problems.

But there are also those who consider their clients to be wallets. Their goal is to appropriate funds for themselves through misrepresentation. There are many schemes. But we will protect you and tell you how to avoid falling for scammers:

Some sites like to lure customers with advertising that says that making money on BO is the easiest way. This is not true, in trading it is important to be able to analyze the market;
Quote variations. Such sites usually do not operate for long. Liquidity providers vary and some brokers may have slightly different data. But, if the difference is big, these are obvious scammers and they will soon stop conducting their activities when everyone knows about them;
Inability to withdraw funds. This method is used if the trader has earned an impressive amount. Another option with blocking the withdrawal is possible with a small turnover of funds in the office.

Quite often they use fake licenses, PR using purchased reviews, etc. But all these options inevitably lead to liability. Although the likelihood of being deceived by a broker is small, it still exists, so you should not let down your vigilance.

What not to do

Many users, thinking about how to deceive a binary options broker, come up with what they think are unique schemes. In fact, not only are they not unique, but they also don’t work. Here are some of them:

Enter and immediately withdraw a deposit. It is believed that this way you can check the broker’s honesty. Stupidity. There are no fools sitting on the other side of the screen either, and they understand perfectly well why you are doing this.
Using various anonymizers and VPNs. Never do this. If the broker detects such activity, you can say goodbye to your account.
Use of hacking programs. There are a lot of similar miracles on the market, and they are not cheap, but none of these programs work. Remember, this is also a scam, and it will end with the loss of your account again.
Use of fictitious data during registration. If you are disingenuous at this stage, think about how you will undergo verification when withdrawing funds.
Opening several accounts at once. The rules of all brokerage companies prohibit such actions and are regarded as fraud. You should not open several accounts, much less replenish deposits on them. If detected, they will be blocked, and you will not return the funds.

Remember, brokers are well aware of all such attempts to deceive, and you should not think that there are stupid people sitting on the other side of the screen. Believe me, they have seen a lot in their lifetime, and have learned to stop any attempts at deception.

Clients' money

While working with the market, all traders’ finances are merged into one place – the broker’s wallet. If you made the correct prediction, you get your profit. Another thing is trading through a bank or an honest company.

If you make a mistake, you will lose the entire amount of the bet, and banks are exchangers who make money on turnover, but can lose money in times of crisis. The brokers themselves make money from the losses of their clients, but only those who are cunning.

If you are going to trade BO, keep in mind that:

The broker receives his profit based on the client’s trading turnover;
From the money that clients lost, payments are made to those who made the right decision;
In fact, you do not acquire an asset, but only buy the right to purchase it;
You need to choose a broker who works honestly.

Please note that the broker's chances of making a profit are actually small. You won’t be able to change quotes yourself, that is, it’s impossible to set them against what you chose. You shouldn’t see an enemy on the platform and expect a catch. No official broker will risk its reputation.