Are all Binary Options Brokers a Scam?
The truth about binary options is that 95% of what you see out there is complete bullshit and alot of brokers will tell you anything you want to hear just t get you to put in your money.
The big majority of brokers do not want you to win no matter what they tell you..
Most brokers only win when you lose. There are a few exceptions with platforms that work on an exchange but in general they only win when you lose. This doesn’t mean you can’t earn alot of money from binary options brokers and there are a few brokers that are very good for payouts and will always honor them as they need to keep a good reputation so they can stay in business. Check out my trusted brokers here.
To get back to the question I set out at the top “Are all Binary Options Brokers a scam?” – I would say no there are some decent ones out there that will always pay out when you win. If people only ever lost then there would be nothing but bad comments on all brokers and they would all go out of business. I would compare them to your local bookmaker as they are very similar. The bookmaker takes your bet and essentially you are betting against the bookmaker. Bookmakers do have alot more regulations but from what I see in the binary options industry there are more rules and regulations coming in all the time which I think is a good thing as I do like binary options trading and I wouldn’t like to see the industry destroyed by the scam binary options brokers and the scam auto trading systems which I expose on my scam list here.
My Rules / Guidelines For Dealing With Brokers:
- Only ever put in money you can afford to lose
- Never put in the money you have set aside for your bills
- Brokers will always try and get you to put in more money but just stay strong and only put in what you are comfortable with.
- Never let a broker trade for you
- Never take a bonus from a broker
- Do your research and pick one that is trusted. My trusted ones are listed here
- Start with a demo account if you are new. Currently IQoption gives a very good Free Demo Account
Take a look at the video below to see how the IQ options Free Demo account works
I will add to this post over time and if you have any specific questions just let me know.