I'm trading Spot Forex successfully for almost one year and decided recently to try trading Binary Options. I was very well aware of the risk, because Binary Options is more gambling than actual trading. But I had some extra cash, so I opened an account with OptionBit, one of the major Binary Options broker.

My First Binary Options Deposit - The Sucker goes Trading

For those not familiar with Binary Options further: BO , I want to give you a quick introduction: You are betting if the price of an asset currency pair, stock index, commodity will fall or rise. If you call an option, you are betting that the price will rise. If you put an option, you are betting that the price will fall.

If the price has risen above 1. The "brokers" are like casinos, only worse. In Spot FX some brokers can trade against you, but they also can direct your trade to an bank.

With the BO Brokers there is a direct conflict of interests. Your profit is their lost, so they have absolutly no interest in your long-term success. I have also scalping experience, so I could occasionally "predict" the movements of a few assets usually FX Pairs correctly with the help of Technical Analysis.

But remember, as my profit was a lost for the broker, soon the manipulation started.

The options expired with a delay, so that an profitable trade became a losing one. Its funny how every delay made my previously profitable trade into a loser. I wrote to them and got no answer. I called, but was put on hold and didn't get any support at all. My profits were gone due to the manipulation trades. So I decided to withdraw the left money, which took horribly long. I already gave up, as I couldn't get any helpful answer from the "Customer Support" a huge joke, I think the guys sitting their have no clue about options.

In the end I got my money, it wasn't a huge amount, so I wasn't freaking out about the long time waiting. But imagine waiting weeks to get a larger amount of money back, which you need. I was lucky that I opened my account with a small amount of money.

This is my experience with binary options. I haven't try the other BO brokers, but please people, be aware as the BO brokers are not regulated. If you are too profitable, they easily could take your profit. You can't sue them, nobody will help you.

Anyway, I'm focusing on FX Spot only and if I will ever have the need to gamble a little bit - I will prefer my local casino. If someone has also experiences with Binary Options, I would like to read about them Feel free to post it.

You've 'summed it up well'. Here's a link to a thread I myself started some time ago on the subject which has information that you may find of interest and basically 'backs up' exactly what you're saying in your post: The CBOE or the CME i. I forget which now but it's detailed on the thread noted offers Binary Options and one can only assume that THOSE Binary Options are 'legit'.

Basically they're nothing different than good 'ol 'plain' Vanilla Options really but I'm no Options Expert so I may not be EXACTLY right. What upsets ME the MOST and I think it's detailed on that thread: I tried to start a trading 'school' for FREE a year or slightly more ago. Needless to say some of them 'ploughed' THOUSANDS of USD into them and, well, I don't have to tell you what the end result of their endeavours were!!!

Hughes Optioneering

New to all this and would like to check out this binary options stuff. No offence is meant by this post New24ex but did you actually READ the thread starter's post and the link to my post on the subject???

I thought I'd Google them for you which I did and you can do the same if you so badly want to know about them. To my surprise though: I see that there are NOW a few some KNOWN spot FOREX brokers offering Binary Options???

Now THERE'S a 'conundrum' for you me. Remember one thing though: If you cannot trade 'normally' or read a chart you're STILL not going to make money.

The only difference really is that once you're in the 'trade' you're 'in' and cannot get out until the Binary Option expires 'in the money' or 'out of the money' and even that's not strictly true anymore i. SOME of these 'bucketshop' Binary Options Brokers I see allow you to close the 'trade' early before a certain 'time limit' has been reached. The only Binary Option types that MAY be different from 'normal' trading are the ones that expire 'in the money' if price closes WITHIN a certain range or OUTSIDE of a certain range within the Binary Option 'time limit'.

Binary Options and I'm talking about REAL Binary Options as offered by the CME or CBOT are mainly used for 'insurance' on a real trade. They're not there not theses ones anyway as a profit making 'vehicle'. So the way I see it: Anyway and don't ask me WHY I've gone to this trouble here are some 'helpful links' at least these two brokers are regulated or 'subject to US regulatory oversight by the CFTC' but I'd check that and I'd also check some broker reviews before 'piling in':.

Binary Trading Options Binary Trading Nadex. After a little more 'digging' it turns out that NADEX is part of the IG Group which in its turn comprises IG Index and IG Markets and NADEX as noted. And this applies 'across the board' i. You get my point.

I was just thinking: Maybe I'm wrong on this stuff. Us 'old timers' are always very quick to 'jump' on new 'fan-dangled offerings' without checking them out properly and don't accept 'change' too readily at least I don't. Put it this way: If I myself WERE to look at these things Binary Options and I'm not about to run out and 'give them a bash' on Monday morning then those are the places I'd look although again 'read between the lines' i.

I've not read TOO many 'rave reviews' about the 'main' broker in question here. But you'll quickly find out whether the broker is 'on the level or not'. It'll only take two or three trades.

The moment you see that the Binary Option was supposed to expire at a certain time and it is held open for a minute or two AFTER the noted expiry time OR if price just HAPPENS to 'spike' seconds before the expiry time resulting in your Binary Option expiring 'out of the money' well, then, you'll know soon enough if you're getting 'nailed' or not. Having said the above let me tell you something interesting that I've been noticing for the past few weeks maybe a month or so and this must by NO means be taken as my sanctioning the 'Binary Options Skirt Brokers' and their bad 'behaviour'.

As most will know I trade only trend following systems. With the markets being as volatile as they have been of late and with them trading in a range which is so obviously recognisable even I ME can see the range: I've found myself being 'forced' to trade on the shorter timeframes 4-hour and 1-hour the logic being that even although on the daily charts the markets are trading in a wide range but not wide enough for my trading systems to stop and reverse at a profit on the daily timeframes there are 'mini trends' on the shorter timeframes that make up those alternate long up and down days and that's worked quite nicely for me much to my surprise.

What I HAVE noticed though: I'm talking about the major indices here of course i. I don't if this anomaly exists on spot FOREX. And here I'm talking about 'normal' trading not Binary Options or anything else like that. Do you see what I'm saying??? It's gotten to the point with me on the 1-hour timeframes that if I have a signal from my trading systems to place an order I'll take the signal bar 'for what it is' a few seconds before the top of the hour.

By waiting for the new price bar to open: I've never noticed this before because normally I've only ever traded the daily timeframes.

This is probably totally off-topic or is it??? I would even bet on it, lol. Don't be surprised they pop up everywhere, because them are so many, lol. Have a nice weekend Dale!

Ok, so we can all agree that binary options are relatively new and under regulated and many platforms that are not regulated are akin to trying to beat a casino house.

Is there anyone who has had success with a legitimate, regulated binary options broker? Thank you Dale for doing all that research I have done the same, and it is no easy task - so, tip of the hat and posting your findings. I think currently, only NADEX is the only US regulated broker now I may be wrong , but there is a very small handful of foreign brokers who are regulated by foreign securities commissions EU, etc who allow US traders.

I'm curious about US traders who have successfully traded binary options through a legitimate non-white label foreign broker. There are many fully regulated casinos and still, the house ALWAYS wins! They took casino business plan and change the 'Betting' to 'Trading'. You can get better odds at Las Vegas. But still, legal betting for everyone! I'm not at all saying Investment Bankers are providing a community service and that they just sort of like making money but love people more looks at Goldman Sachs This may be casinos for those who don't know cards, but know charts.

I have a friend who makes an impressive side income from Blackjack. I'm sure the same can be done with the legitimate, regulated binary options brokers. Just wanting to hear a success story or two. Dale thanks for the incite.

Ive been trading BO's for about a year now and have had mixed results. I feel like its a legit investment thing, but also like gambling. Is there anything wrong with BO's besides what your saying? Ive paid and been paid in the last year and havent had any legitimacy issues.. WHy is this getting sucha bad wrap? How different are BO's then FOREX???

Does it depend what site your on?

How to Make Money on Binary Options Trading at Home

Im trading on Optionmint. No problems thus far.

Im only a a trade kind of guy though. Have you heard anything about them? I havent had much an issue other then making bad trades.

binary options? | Warrior Forum

I like binary option because it simple and you control your win or lost. So you get unexperienced people out there with money who start their own Binary Options business. So they use various tricks and offer bonuses, with fine print, that requires traders to spend X amount of money on placing trades If they get clients that are winning too often, that is not suppose to happen, they need to do quick thinking to get them to start losing trades. The broker will pay the winners from the money of the losers, and then keep the remaining for themselves.

Then they not only pay the winners all the money from the losers, but will need to get into their own money and pay them some of that too. So what happens when the broker does not have enough money to pay everyone their winnings or withdrawl requests? On top of this they are probably spending money for their lifestyle, and at the same time are not getting enough clients losing, so their income is limited. Then when you request a withdrawl the reason in some cases it may take a month is because the Binary Options broker doesn't have enough money to pay you so they are waiting for their clients to lose more and more so they can use that money to send you your withdrawl request.

Binary Options Dirty Little Secret - YouTube. Thanks for your break down of possible goings on with binary options My own experience has been that they make me an offer that for every 5, I put into my account they are willing to match it with their 5, bonus In fact once I get down to say 6, they ask me to top up another 5, and they will also put in 5, bonus so now I have 6, plus another 10, giving me 16, Some say they use bonus money to trap you and keep you obligated, and your chances of losing trades increases.

In the post above this one I posted a link to a Youtube video I found where I think someone discusses in a small part of the video why you should not accept bonus money. I always knew binary options was a bad gig. A BO broker called me and tried to get me to sign up, after having difficulty answering my skeptical questions is binary options manipulated i asked him if i could open a demo.

He said no, you can only trade binary options live. That right there says it all folks. Warning about Binary Options Trading Discussion. Dear Community, I'm trading Spot Forex successfully for almost one year and decided recently to try trading Binary Options. Hi JohnCA, Thanks for posting. Good morning, No offence is meant by this post New24ex but did you actually READ the thread starter's post and the link to my post on the subject???

Isn't that what I said to you the other day??? Anyway and don't ask me WHY I've gone to this trouble here are some 'helpful links' at least these two brokers are regulated or 'subject to US regulatory oversight by the CFTC' but I'd check that and I'd also check some broker reviews before 'piling in': But they may not always have enough money to pay people their withdrawl requests or winnings.

They make money when you lose. So say half their clients lose and half win on the same trade. But a problem arises when too many of their clients win trades, and the losers are minimal.

Then they get desparate and start playing games, and changing rules etc. They can get away with all of this if they are not regulated.

I first heard some of this info in this video: Binary Options Dirty Little Secret - YouTube I am not saying these things are true of every Binary Options broker, but just use caution.