Your experiences with binary options?
- Thread starter ivvann
- Start date
lanzik
Registered Member
- Apr 18, 2017
- 64
- 23
I think that the only way to make money on binary options in the long run is to own the binary option platform or become their affiliate and promote them. You can also make fake 100% guarantee courses on how to beat the binary options. Practically, it is the same thing as a casino.
safeSEOboost
Elite Member
- Mar 22, 2010
- 3,277
- 2,273
binaries: nicest rippoff in finance in recent history, and some people are prosecuted for that.
redjebo
Regular Member
- Jul 18, 2015
- 243
- 321
it's like red/black in roulette but with bigger house edge
you can only win if the platform doesn't know much about the market they're offering the options for and are consistently making errors in evaluating; this has had happened here and there in the past (different market though, not crypto), but they are quick to learn their lesson and limit the damage
for crypto it's probably not too worse than any other form of punting your money away by "trading", you'll lose your money as fast that way as by just day trading/swing trading etc
you can only win if the platform doesn't know much about the market they're offering the options for and are consistently making errors in evaluating; this has had happened here and there in the past (different market though, not crypto), but they are quick to learn their lesson and limit the damage
for crypto it's probably not too worse than any other form of punting your money away by "trading", you'll lose your money as fast that way as by just day trading/swing trading etc
Jmarv000
BANNED
- Jun 17, 2019
- 63
- 44
It is a game scaled towards the benefit of the broker selling you the service. Remember in binary option, you are betting against the house. Not the market.
The only way that you can win in this is to bet on both direction of the binary option before any major news release. And you have to make sure that your winnings can exceed 100% of your invested amount and will continue to grow and follow the trend. For binary option, broker will prevent this situation from happening by capping your earning to 85% or less than 100%. So no matter what happen you will never be able to make money off them. Only OPTION trading allows this since you are betting against the market and not a single broker.
However this method is only possible if your call option is American style where you are allowed to liquidate when you are in a profitable position and not by time expiry.
redjebo
Regular Member
- Jul 18, 2015
- 243
- 321
This is old news, the broker must be really retarded to allow straddling strategies on news hour. Every broker worth their salt have measures in place against that for years now, like decreasing the odds given drastically, capping the amount won or just barring the wagers when essential news are expected to come out.
And if there are such inexperienced brokers in the crypto field nowadays it won't take long for them to figure out where they are mistaken and take precautions.
Last edited:
- Mar 21, 2013
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I've been critical of cryptocurrencies recently but binary options are the perfect example of a regulated asset that is far worse than anything I've seen in crypto. If the financial markets ban cryptos but accept binary options it's completely illogical. Binary options are a binary roulette, it's crazy, 50% chance you'll lose everything.
NovaKKKpTn
Junior Member
- Apr 3, 2013
- 109
- 8
my experience with binary options: make some money in the short term, lose all in the long term.. you better use their affiliate platform
Jmarv000
BANNED
- Jun 17, 2019
- 63
- 44
You sum it all regarding binary option. I guess alot of us confuses binary option with option trading. Option trading value is derived from an asset (stocks, commodities, even real estates). While binary option is simply a bet against the house. The counter party is the broker. So there is a big conflict of interest since broker will not win if you win. They MAKE MONEY OFF YOUR LOSSES!!
- Mar 21, 2013
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Correct. It's gambling.
Even traditional options are extremely high risk. Binary options is straight up gambling.