Can You Make a Living Trading Binary Options?

It is a question many people ask but very few ever seriously look to answer. Can you really quit your day-to-day job and make a living from trading on the financial markets? Most people who have given it some thought would have stumbled across a blog or an article online that promises you can, and then probably launches into a sales pitch to try to sell you a PDF at a grossly inflated price that tells you how you can do it.As it is easy to find positive stories related to making a living in this way, many people might even look at opening a trading account and start trading on a casual basis, with small sums of money, to see whether they enjoy doing it and to get an idea of whether they might wish to do it full time. It is easy to see why this is attractive. Who, given the choice, would continue to go to work for 40+ hours a week when they could earn, at the very least, a living wage and similar sum from perhaps a quarter of that time, and perhaps even shorter depending on what they were trading?Due to the high returns that can be achieved, binary options are a popular thing to explore among those who want to discover if trading options for a living is a realistic proposition. One of the biggest challenges when making a decision is that any form of financial trading should always be looked at over the largest possible period. If you have been trading on a casual basis for six months, and have enjoyed success, is this a long enough period to use as an example when justifying a decision to quit your regular job, especially if you have a mortgage, children, and various other responsibilities to meet?

Trading Options for a Living: Getting Started

If you are serious about exploring the possibilities of options trading for a living you need to know the steps you have to take to get started. Everything you need is accessible and easy to use, enabling you to get started as soon as you wish. While you can get all of these resources from Bank of Trade, we have laid them all out individually so you have a full understanding of the process before you consider trading binary options full-time.

Steps to Trading & What You Need

  1. Find a high-quality charting package. This will enable you to monitor and track the prices of various markets and enable you to buy and sell binary options in an intelligent manner.
  2. Although not something you can buy, you will need to be able to draw parallel lines on these charts or spot virtual lines if you are using a software package. Not only do parallel lines help you spot clear upward or downward price trends, they also help you spot when prices have levelled out at support or resistance stages.
  3. Once you are ready to get started, you will need to start searching for markets where you can trade binary options. At Bank of Trade, we provide all the available markets for you, from commodities and indices to individual stocks and foreign exchange.
  4. Compare charts on a daily and on a weekly basis. Due to the nature of binary options trading, you can make money from both short term and longer term trades, so having knowledge of how the market is moving in all areas can be very powerful.
  5. You are now ready to place your first option trades. Choose something that looks to have a clear trend, or something that is currently stagnant but likely to increase or decrease in value shortly, and place a call or put trade.

Remember that when you trade binary options you are trading against whether the price will rise or fall. As the price of a stock or commodity does not directly affect you, the opportunities for making large profits with binary trading are much better, making the chance to trade options for a living a very real and potentially lucrative one.

Tips for Making a Living from Options

Because binary option trading offers an “all or nothing” outcome, while the potential for greater profits is exciting, trading these options can also lead to fast losses if you get too emotional with your trading. If you are options trading for a living the last thing you want is to be in a situation where you risk future revenues because you have been careless with certain trades.The biggest thing you can do to experience trading before doing it for real is to use an options trading simulator. This will enable you to replicate the choosing of an asset and placing a call or put trade, as well as the wait to see whether you succeeded.Depending on how you want to trade binary options, you should also look at the various types of trades on offer, such as 60-second trades and one-touch trades. These are usually better for experienced traders, but they are worth knowing, so they can act as a work-towards within your personal trading career.As important as learning various strategy tips and training yourself to become a smart trader and investor is, so is having the knowledge when you can sell options that are out of the money. This is critical for managing losses, as you may be able to sell a call or put option prior to expiry to another trader who is willing to take a chance.When you are option trading for a living it is critical to look at the bigger picture; ensure you are able to take a balanced view of your trades and remove all emotion from what you are doing. You should treat trading for a living like a business.

Can I Do It?

Back to the question at hand. There is no question that you can make a living from binary options trading. After all, there are people doing exactly that right now, all around the world.Because of the way binary trades work, your trade either finishes in the money or it does not, you do not need to spend time calculating potential returns or losses, as you will know them before you start.At the same time, the fact that binary trading is easy to get started with does not mean you should think it is an easy way to make a living. Treating options trading for a living as a get rich quick scheme will only lead to you being too hasty and not learning everything you need to know about binary trading before you get started, and ultimately you will be likelier to make bad decisions and endure potentially heavy losses.You will also need to build at least a basic knowledge of the finance industry, particularly around dates when markets are likely to be volatile, such as economic announcements by governments and the release of business results from across various industries. These have the potential to impact on a wide variety of areas, and if you are well-informed you can take advantage of the trends and maximise your returns.

How Much Money do I Need?

Let us break this question down into two parts. The first part will look at how much money you need to get started. The answer is you do not need much at all, but if you see heavy losses when you first start trading and are getting used to doing it full-time, you could easily see your funds quickly running out. If you do have a small amount of money to trade with, use this on smart, likely to be safe and profitable trades, so that you can build up your funds for when you do start trading options for a living.Secondly, you will need to consider how much money you need to make to live, plus what amount of disposable income you would be happy with. You can break this down annually, monthly, daily, or whatever works best for you. Whatever you do, you need to land at a figure that would deliver the lifestyle you desire, as well as enabling you to save for retirement, pay for any health insurance, and other expenditure, and then analyse whether earning this sum is realistic from options trading alone.Given the sums of money you can make from options trading are almost unlimited, especially when you consider one-touch trades can deliver up to a 500% return on investment, your biggest consideration will be the level of risk you are happy to take to achieve such an income. If the risk exceeds what you are comfortable with, what is your plan for carrying on? You also should think about whether you want to skim some of your early profits to reinvest back into trading to grow your capital fund. Over time, this will allow you to take more risk and potentially target options that are more lucrative.

What if I Love Taking a Risk?

There is nothing wrong with being a risk taker. However, when you are trading options for a living, it is not the same as having a few trades during your downtime at work. All of the trades you do will have a direct impact on your life, so the risks you take should be calculated, smart risks that are justified by the potential rewards.If you still find yourself tempted by a risky trade, then you should never put yourself in a position where you are going “all in.” Unfortunately, you are the only person who can control what you do here. You might decide that 50% is the maximum of your total capital that you are going to trade with, for example. Ensure you settle on a figure that leaves you enough to slowly build your finances back up with less risky trades should things go wrong.When you become an experienced trader you might also be able to acquire portfolio margin. This is essentially a credit line that allows you to trade more than what you have. Beware that you need to prove you are a successful trader in order to do this, however, as no one is going to give you 600% of your capital to trade with if you cannot prove a return is more than likely.

Learning Binary Options Trading

Trading options for a living is something everyone can do. Even if this article is the first time you have heard of binary options trading, there is nothing stopping you going away and learning about it immediately.However, you need to know that, while you can learn about binary options trading reasonably quickly, it is a little bit like learning to drive, in that what you learn after learning, and gain through experience, is what really matters. Experienced binary traders are still learning about what they do, even today. If you start exploring binary trading, think you might have an opportunity to start options trading for a living, but then get disheartened, think realistically. It takes years to become an expert trader, although if you dedicated an hour or two each day to learning about the different platforms and understanding how it works, you would probably find yourself in a position to start trading for a living after 9 – 12 months, depending on how quickly you learn.If you do not have time to learn all about binary options trading for yourself, then it is unlikely you will be able to make a living from it. However, if you can find a reliable, proven to be successful broker, then you will have the opportunity to make an incremental income from binary trading, although you will need to account for broker commissions and any costs associated with using their trading platform, if you still want access for yourself.

Summing Up: Can You Do It?

Trading options for a living is certainly realistic, but anyone who wishes to do this must understand that it is not as simple as it sounds. To make an amount of money that would sustain even the most frugal and low-expense lifestyles, it will take a great deal of commitment to learning about binary options trading, as well as effort and desire to actually go and do it, and to deal with the successes as well as the losses when they occur.If you are already participating in binary trading as a hobby or on a casual basis, you will need to refocus your thinking before starting to do it for a living. Do not feel pressured or rushed into doing it if you want to take the time to learn. Global markets and binary trading options are going to be here forever, so if you do not learn about trading in 9 – 12 months, you can continue picking up knowledge far beyond that.At Bank of Trade, you can immediately take advantage of our trading platform as well as access a large number of resources and pieces of expert advice when you sign up for your trading account.

Finding the Best Binary Options Trading Websites & Services

Knowing that you want to get started with binary option trading can be exciting. Before you jump into the unknown, there is a lot of research you need to carry out. Part of this is discovering not only how to make the best returns from binary trading, but also how to do it.

Choosing the Best Binary Options Services

As trading in this way has become more popular across the world, the number of websites and brokers offering services and assistance in binary option trading has increased. While this means there are more opportunities within the market, it also means there is more pre-research and analysis to be done by investors so they know they are dealing only with the best binary options trading websites.Binary option trading has gained popularity because it is reasonably easy to get started with, and because investors do not need large volumes of money to get started.Just like when you open a bank account, you want to be sure you are putting your money towards the best binary option website, hence the need to carry out as much detailed research as possible. Finding the best site to trade binary options on in such a crowded market is difficult, but not impossible.Consider the following points:

  • Especially if you are a novice, the simpler the user interface on the platform, the better. The best binary options trading websites will make it easy for you to trade. Be on the lookout for easily accessible, web-based platforms that do not require you to download anything to get started and use. This enables you to access your binary options account wherever you are, whenever you want to.
  • Diversity of investment opportunities is another key factor. If you want to try currencies, commodities and stocks, finding a binary broker that only allows you to invest in foreign exchange markets is pointless.
  • Some of the best binary options trading websites offer excellent bonuses to investors. Look for bonus deals in the 10 – 25% region. You will find some websites offering 50%, but this will often only be on the first handful of trades rather than a lifetime deal.

Binary Options Trading in 2013

It is easier than ever to get involved with binary options trading. There has been a great deal of press coverage dedicated to these markets. Generally, the overwhelming view of those who get involved with binary options trading is that it provides an accessible, intuitive gateway to online investment markets. There is also a belief that it is much easier to get involved with binary options trading than it is to begin exploring a dedicated foreign exchange or spread betting platform, for example.The best binary option websites can generate up to a 500% return on investment. With Bank of Trade, this is possible by taking out the one touch binary option, which is available at weekends.This type of trading is only going to continue to grow in popularity throughout 2014 and beyond, so getting on board and discovering the best site to trade binary options at now means investors can become familiar with what it involves and start enjoying personal financial success.

Finding the Best Options Account

Searching the internet for the best options account is likely to bring you into contact with several websites, both that are directly involved with binary trading and that act as review sites.To find the best account for you, you should put a three-step thought process into place.

1. What Do You Want to Achieve?

What is your motivation for trying to find the best binary trading platform? You might be looking for an introduction to the binary markets simply to learn whether this type of trading is for you, or you might be looking for an accessible platform where you can easily set your trades and work with reasonably small sums of money.Similarly, you might be a serious investor who sees finding the best binary option trading platform as a big opportunity to increase wealth and prosperity. Think about what you want; Bank of Trade’s platform is ideal for both the novice and the serious, experienced investor.

2. Where do you want to Trade?

This is an important question to ask yourself, although it will not worry novice investors too much. If you are new to investing, or to binary trading specifically, you will want to know a little about commodities, foreign exchange, and the other markets you could be trading on. Your research might help you to discover which one you have a particular interest in, or uncover where the big wealth creation opportunity is for you.

3. What Assistance is on Offer?

Novice investors will find the best binary options website is the one that is filled with tutorials and has live chat options 24/7, while experienced individuals will want to be left alone to get on with trading.Whatever level you are at, it is worth finding an options account that has help available around the clock. Even if you are confident in your trading, the last thing you want is an account glitch to have a serious impact on your investment earnings.

Finding the Best Binary Options Site

Finding the best options site involves taking everything you have read, researched, and analysed so far, and putting it all together to see which trading website ticks the most boxes, so to speak. The reality is that there are so many binary options websites available that, if you are passionate about getting started with options trading, you will find one that meets your needs. Most sites understand that people have different needs and levels of investment knowledge and experience, and cater for this in what they offer.Consider the following steps to help you find the best binary trading options website for you:

  • Read as much financial literature as you can. If you read the newspaper on the way to work, for example, the finance pages are an excellent resource that will usually have some detail about binary trading each day. The same applies to being online. As well as this article, there is a wealth of information available here at Bank of Trade that will educate you about binary options trading.
  • Discover binary options review websites, but make sure they are not sponsored, or owned, by a binary trading site or a broker!

When you find a website, look at where they are based. The best binary options trading sites will be global, available in multiple languages with support functions around the world. If you do not find a binary trading site that fulfils this criterion, consider looking for one based in your own country, so that getting any support you need is as easy as possible.

Choosing Accessible Binary Options Trading Platforms

Individuals with experience of financial websites will know that they have a tendency, at times, to overcomplicate things. As binary options trading is a relatively new trend, it therefore makes no sense for such platforms to be in the image of these difficult to understand, navigate, and use websites.The best binary trading platforms all have one thing in common: they keep it simple. This allows investors to focus on the key data related to their trades and not be distracted into making a mistake or misinterpreting a financial chart or graph they have had presented to them.You know better than anyone whether you think a platform is good enough for you to use. While review websites and reading financial literature will give you a better grounding in binary trading and reading finance charts, your own intuition will tell you if something is accessible the first time you look at it. The best binary options trading sites will all have screenshots and video available of their trading platform, while some even provide a “live demo” for would-be investors and account holders to try it out for themselves.No matter how good a binary options website looks, you should ensure there are tutorials and walkthroughs available that help you at every stage of the process. Ideally, you want to be using an intuitive website where boxes pop up and show you what to do to make it as easy for investors of all levels of experience to use when trading binary options.

Identifying the Best Binary Options Brokers

For investors that are interested in binary options but do not want to learn about using binary trading software, there is always the option of finding a broker. Once again, the expanding market and opportunities to practice binary trading means there are inflated numbers of brokers available to use, and finding the best binary options trader certainly presents a challenge.What should you look for in a binary options broker?

  • As with any investment, you want to be able to diversify income opportunities as much as possible. To enjoy binary options’ best returns, investors should look for brokers that offer a wide selection of market assets. Find a broker with expertise in each area. Anyone can say they have experience of foreign exchange and commodities trading, but are they good at it?
  • Leading brokers will allow, even encourage, you to make a small investment at the beginning so that you can get started without feeling like you are taking too much of a risk. In fact, the best top-level brokers will only allow you to make a small initial investment so that you are not putting yourself in an unnecessarily risky position.
  • A good broker will have a flexible working approach so that you are not locked into a long-term contract if you are unsure about binary trading. Look for investor-friendly brokers who work for small fees or commissions and might refund a small percentage of your investment should you make a loss.

Flexibility is the biggest positive characteristic you can find in a broker. Investors will get more from binary trading if they are able to enjoy a great relationship with a broker. The best options brokers will be outwardly investor-friendly when it comes to everything from flexible contracts to fair commissions and even offer bonuses for successful investments.Find a great broker by looking for those interested in you, your objectives, and provide advice and guidance rather than those who simply want to know when you are making your next deposit.

Binary Options vs. Regular Trading

Binary options trading is much simpler than regular trading. This is because binary trading is an ‘all or nothing’ type of investment. In comparison, regular trading involves the buying of commodities, foreign currency, or whatever it is an investor is interested in, and sees variable returns, depending on how much fluctuation there is from the starting price.Leading websites and brokers should explain this to you as simply as that. Binary options trading is only as complicated as investors choose to make it for themselves, or as complicated as websites try to make it so binary trading looks like something it is not.Due to the simple nature of binary trading, novice investors find it easier to manage their money and they always know where they are. The better websites are much easier to understand and use than even a simple piece of regular trading software.

How to Trade Binary Options Successfully

While the opportunities available from finding the best websites, account offers, and brokers are numerous, like any investment, one has to acknowledge the potential for losses. ‘You win some, you lose some’ is certainly a phrase that can be applied to any financial trading scenario. It is also true that the smart investor is a successful investor, and thus minimises losses when they do occur at the result of greater profit.Everyone has read the stories about investors and traders who lost thousands in currency before they turned it around and started being profitable. The reality is that most investors today cannot afford to go through such a chain of events. By knowing what you need to do to succeed and by sticking diligently to these traits, you will give yourself every chance of success.

Know the Markets you are Trading In

The binary markets are as fast moving as others are around the world, so making the most of the best binary option services means knowing exactly what is happening both in the binary trading world as well as in whatever markets you are trading in.Forget the biggest financial myth of all that says traders sit in the bar or in the beach and simply check their laptop every few hours. For successful investments, you need to know the world you are looking to exploit.

Think Fast

If you have sought out the best binary options trader instead of doing it yourself, then this will not matter to you. It is also true to say it will take time for you to become adept at thinking on your feet when tackling the binary options markets. To become more confident in this respect, keep notes, mental or otherwise, of trends and signals you notice in the market. Over time, you will find you make binary options trading decisions without thinking about it.


Emotion is not as big a barrier in binary options trading as is might be with other platforms, simply because you either succeed or you do not. When dealing with binary options you are not keeping hold of a commodity, for example, as the price continues to drop in the hope it will turn into profit. Keep it in mind that emotion might start to influence your decision making, however, and learn how to take yourself out of trading situations when this happens.

Conclusions: Finding the Best Binary Option Service

You now have a full ‘toolkit’ that you can use to move forward and make a success of your involvement with binary options trading. Once you have decided that binary options trading is something you wish to explore, the next step is to think about whether you want to find a great account and platform to get started yourself, or whether it is worth finding the best binary options trader for your objectives.At this stage, you have everything you need to research thoroughly and enjoy your binary options best returns by using the services best suited to you. At Bank of Trade, we offer the best of all the services and functions explored here, and can provide investors with the platform they need to enjoy the most lucrative possible successes with binary options trading.

SpotOption Binary Options Software Review

Spotoption operates a binary options service providing binary options software to trading platforms throughout the world. It was founded in 2008 which, in relative terms, makes it one of the longest-established binary options trading platform software providers available which makes its software both prestigious and highly experienced. Having begun its life during the global economic crisis, and becoming fully-licenced as a regulated binary options company in 2012, it has emerged as one of the most respected sources of software for binary option platforms in the industry. Its reputation as one of the leading behind-the-scenes providers of binary options software has grown from strength-to-strength and, whilst this has become fiercely competitive in recent years, it has managed to stay a cut above the rest in terms of the services that it provides.From a company perspective, SpotOption proves to be a complete solution for those looking for reliable and experienced provider for their binary options platform. Key to its ongoing success has been the introduction of several innovative features which keep it ahead of the rest. SpotOption allows for platforms to diversify and incorporate one touch, 60 second and the popular Option Builder features in to their services. In terms of the sixty second feature alone, this is one of the most in-demand binary options software solutions available.SpotOption has combined this provision of leading features with the development of its innovative and hugely-popular mobile binary options solution. This market-leading platform for both android and iPhone markets demonstrates SpotOption’s commitment to adhere to the demands and expectations of modern binary options traders. Further evidence of its innovation is the rolling out of MT4-integrated binary options before any of its competitors. Platforms that don’t provide the latest trading features simply don’t survive and SpotOption has made sure that this does not happen with its clients by maintaining itself one step ahead of other platforms. This is also the very reason why it provides several of the best binary option platforms with its trading software.Proof of the global authority of SpotOption is its 70% penetration rate of all binary options trading platforms. Within this figure, SpotOption provides binary options software in the form of both ‘white label’ and integrated features and plug-ins. The complete package solution allows platforms to be run entirely through the SpotOption hosted format. This means it has the ability to host all of the features on an independent binary options platform website, taking care of everything from registration to the provision of e-wallets and, of course the binary options markets themselves.From a trader’s perspective, attractive features of the SpotOption binary options software are some of the innovative usability functions. Since some of the biggest binary options platforms are supported by SpotOption, and it has developed a reputation for both clarity and ease of use. Tabs are placed to provide minimum effort in switching between the available types of binary options choices within the platform. A deal with Reuters ensures that SpotOption traders have live access to breaking news from the foremost market data provider. Traders are also helpfully provided with tips and recommendations for their trades by selecting the ‘Top Picks’ selection from the simple navigation bar. This combination of simplicity and functionality makes SpotOption the best binary option platform for novice traders. For more experienced traders, the interface allows fast and efficient navigation through markets and features of the platform. In a world where time is money, this is especially important for those who are looking to trade sixty second binary options.

Features of the SpotOption binary options trading platform:

The Options builder tool

This is an essential and hugely popular feature of the binary options trading platform provided by SpotOption as a standout feature in comparison to its competitors. The Option Builder is an innovative move away from fixed-return binary options, allowing traders the ability to create their own custom risk and reward levels before investing. The tool works with the trader selecting the asset to trade and, depending on the market conditions and their confidence in the trade, the returns can be altered in order to ensure a large or smaller insurance rate on losses. An example of this is purchasing gold binary options within a volatile market. A trader may think that there is a good chance that gold will rise over the next hour but the risk of up to a 90% loss if it expires out of the money may appear too much of a risk. Using the Option Builder feature provided by the SpotOption binary options platform, the trader can lower the returns to, for example, 60% for trades closing in the money in exchange for an increased insurance rate of 35%. This allows complete control and flexibility when traders want to adjust their exposure in trades where risk is higher.

ProTrader feature of SpotOption software

This is an excellent feature for those traders who want to trade using more advanced charts. The ProTrader tool is in-built to all platforms using the SoftOption binary options trading software. For those who look for opportunities using technical analysis, the ProTrader charts provide an excellent alternative to using a third-party charting software package. It is true to say that one of the major criticisms levied at all binary options platforms is the low quality of the charting. The ProTrader feature goes some way to improving this and to moving SpotOption binary options trading software beyond that of its competitors in this respect. Whilst the charting may not yet be as fully developed as those offered by forex trading platforms, SpotOption are certainly leading the way as the foremost binary options platform.

One Touch trading with SpotOption

The one touch feature allows traders to purchase binary options based on price reaching an agreed level during a set period of time. This is essentially a bet on whether or not a trader foresees the level being reached, just once, with the returns on in-the-money payouts being substantially higher than regular binary options. SpotOption software provides this feature to several of the largest binary options trading platforms. This is not only a great tool for new and experienced traders alike, but it is particularly helpful for those who cannot trade during normal market hours. One Touch trading can be executed during the weekend which uniquely makes binary options platforms operate 7 days per week.

Sixty second trading with SpotOption

One of the reasons why traders are flocking from traditional forms of trading to binary options is that they offer one of the fastest ways to generate significant profits. There are very few forms of investment which can return profits of 85% in just 60 seconds but binary options trading allows this thanks to the binary options trading software provided by SpotOption. Due to the fact that binary options do not rely on the degree to which price moves higher or lower than the strike price, a movement of just one tick can result in these profits. Sixty second binary options therefore offers an aggressive trading tool for those who can spot short term opportunities and want to trade rapidly. The provision of sixty second binary options is for those who have experience trading binary options although these markets do also provide a good tool for those trading small stakes to learn how to trade binary options.

Roll over and Double Up features of SpotOption

The rollover is a great tool available on many SpotOption trading platforms. This allows traders who are holding binary options which are ‘out of the money’ to extend the life of the options by up to 30% and therefore increase the possibility of these options closing in the money. Similarly a SpotOption binary options platform will also allow you to double-up on a current position. This means that traders who are holding a position in the money can create another option based on precisely identical conditions and expiry as this in order to increase the winnings from the original trade. Combining both the Roll Over and Double Up feature demonstrates that SpotOption are particularly sensitive to the demands of traders and they have provided solutions for those holding winning and losing positions.Ultimately, SpotOption has managed to develop, through a combination of experience and innovative design, one of the most advanced trading platforms available. It is a market leader in binary options software and is held in very high regard by the largest binary options platforms using its technology. Although other software providers have also incorporated many of the tools and features available on SpotOptions platforms, very few have been able to continue to innovate at the same level. Additionally, the combination of simplicity in its user-friendly design and offering its clients cutting edge solutions to become more profitable makes SpotOptions binary options software very difficult to beat.

Tradologic binary options trading platform

Tradologic claims to be the world’s leading provider of binary options. Although it does not provide binary options software to as many of the top binary options websites as SpotOption, it has got some very commendable features. Tradologic has invested heavily in trying to make the end-user experience both as simple and effective as possible. It is an incredibly slick platform to trade which has been designed to ensure that traders can navigate markets and features with confidence. Its leading feature is the design itself and, not only does it look good, but the binary options platform incorporates several aesthetic features such as the ability to view markets in a matrix, similar to those found in bingo, so with one glance the trader can select a trade.The binary options platform itself incorporates several innovative features which are, again, primarily related to layout and user-experience. This includes the ability to execute multiple deals simultaneously within one trading window. This feature is similar to those found in spread betting which creates multi-ticketing to rapidly switch between trades and markets. Tradologic arguably has a focus on short-term and fast-action traders as its target market. The evidence for this is that it has geared many of its trading and interface features towards enhancing the speed and efficiency that traders can move around the platform rather than developing any outstanding tools.Whilst the SpotOption binary options platform supports fast trading equally, it is evident that it is highly influential in terms of the features that it has produced and which are also found on the Tradologic binary options platform including Double-up, Extend and also close-early features. However, for those looking for innovative features the platform tends to incorporate these slightly slower than some of the other leading binary options platform providers. The omission of a decent charting package also means that it may not be entirely suitable for technical trading without using 3rd party charts, however, its innovative mobile trading applications allow for reliable binary options trading on the move.

Tradesmarter binary options trading platform

The Tradesmarter binary options trading platform is similar to SpotOption in that it has been around since 2008 and is one of the most experienced binary options software providers available. As a platform operated by Market Punter Ltd it incorporates all of the features of a standard binary options trading platform and is accredited with being a high quality and good for beginners. One of the most impressive features of the platform is the extensive educational material and list of frequently asked questions which is very useful. Additionally, one feature which it provides is that traders can assert their preference on whether they want to trade with the Box View screen or List View. Similar to the SpotOption binary options platform, it offers a comprehensive charting package which makes it stand out against some of its other competitors. Many traders have also commended the trading platform for incorporating a heat-map facility which shows the popularity of an asset being traded and can assist in making decisions in contention with market sentiment.The platform provided by Tradesmarter binary options software is both clear and straightforward to navigate. It includes many of the standard features and variety of binary options which are widely available on other platforms. Although it is not yet regulated it is pending regulation in Cyprus where the company is based. This will make the platform attractive to traders as many binary options platforms continue to operate outside of national regulation. Similar to Tradologic and SpotOption platforms, the design and layout allow for it to be easily accessible to new traders. In addition to this, the outstanding educational resources and available live chat support feature are clearly an incentive to those who want to learn to trade and the platform shows a strong dedication to novice traders.

TechFinancials binary options software

From the outset, TechFinancials claims to provide simplified trading concepts to the ‘mass market’. This suggests that the company, which previously specialised in IT solutions, are targeting ease of use and entry-level traders through their clean and welcoming trading platform. As a result, TechFinancials arguably has one of the most attractive interfaces and prides itself on maintaining a clean, clutter-free trading environment for new traders. It also maintains a constant 3 step instructions list which applies to all of the types of binary options that they provide and which is very helpful again for those with less binary options experience.TechFinancials software includes the features found on most of the major trading platforms as provided by SpotOption. However, it has also notably included the ability to trade ‘Boundary Options’ within its options platform. This feature allows traders to specify a price range within which price will remain at the time of expiry and is often referred to as range trading. For the new traders that TechFinancials are aiming their binary options trading platform, these are more complicated options but it does demonstrate a willingness to include more experienced traders through the provision of these features. The lack of a quality charting package, however, makes it difficult for experienced traders to choose this over platforms using the SpotOption software.

MarketPulse binary options trading software

MarketPulse provide three services which constitute its binary options software solutions. From the brokers perspective the first two elements of this are an administrative and incorporation service and the third is their binary options trading platform. MarketPulse has established a name as an innovative platform provider as it became the first to develop a mobile trading app and has swiftly followed this by being the first to offer an HTML5 tablet format. MarketPulse was also the third platform to integrate binary options in to the MT4 platform following the innovative move by SpotOption. It can therefore be considered not only on of the most progressive binary options trading software providers but also one which is ambitious.The interface is perhaps not as modern as that provided by TechFinancials but it offers several strong features which will appeal to new traders such as larger charting and an effective mobile trading platform. MarketPulse platforms do not offer the diversity of the trading tools that some other platforms provide, although they do provide Range and One Touch options alongside the regular binary options.MarketPulse offer their web-based platform with functionality in mind. The platforms are simple to navigate and designed to work with all browsers and across all major devices including handheld computers and mobile devices. Despite its limitations in terms of tools, the options platform provides a reliable choice fo new traders.

Conclusion for binary options trading software

Binary options trading software has come a long way in recent years and is constantly innovating to meet the demands of traders. Given the growing popularity of binary options, it is clear that those binary options trading platforms with a proven track record and history of successfully meeting the requirements of its clients are leading these developments. The very fact that binary options software providers such as SpotOption continue to innovate and remain one step of its competitors, providing the trading platforms of many of the leading binary options brokers, is a testament to this. Although many platforms offer slightly different features, dynamic trading tools such as One Touch, 60 second trading, roll over and Double-up features are being included on almost all trading platforms.Binary options software providers face stiff competition which is pushing innovation and improving the quality of tools and features available to traders. Many platforms without reasonable quality charting packages and those which don’t cater for new traders find themselves struggling to keep up with this competition. Large and successful platform providers such as SpotOption are considered the outright leader and continue to grow as high-profile platforms adopt their software. Not only is SpotOption the longest standing and most widely-recognised company but they have the additional benefit of being nationally regulated which makes it a much more attractive proposition for those platforms incorporating the software and which is why use it.

Binary Options and Scam

Why do people think binary options are a scam?

There are several reasons why some people consider that a binary options scam exists. Over the past few years, binary options have become hugely popular amongst experienced traders and they have attracted a large number of inexperienced and new traders to begin investing in financial markets. The simplicity of the concept, choosing if something will be higher or lower in a matter of minutes or hours, has caused skeptics to assume that a scam exists. The reality, however, is somewhat different and binary options are no more a scam than any other form of financial speculation or investment. The ability for traders to make their own decisions on the direction of markets and the guaranteed pay out that follows if they make the correct decision is difficult to define as a binary options scam. Those who continue to consider it as such generally justify this using a number of different reasons.The most common reason why some consider that binary options may be a scam is linked to the potential reward that they offer. Binary options simply require traders to invest a predetermined amount of money, which they will lose up to 100% if they are wrong and gain 75-85% of this investment if they are right. In contrast to being a reckless and risky investment, both the potential rewards and losses are known prior to parting with a single penny. An agreement is formed between the trader and the trading platform on the pay-out levels and this remains binding throughout the lifetime of the options or until the conditions are mutually adjusted.

Binary options scams invented through inexperience

Those that consider this to be a scam are often the victims of their own inexperience and failure. Whilst binary options’ trading is a simple concept and new traders can begin within just a few minutes of opening an account, it is certainly not an easy way to generate profit without any preparation. Many skilled traders work extremely hard to understand how markets work and develop their own trading strategies in order to be successful. Ultimately all long-term binary options traders would need to manage their money and risk as well as their own trading rules if they are determined to be successful. Those who are quick to dismiss this as a binary options scam have often blown their account or lost money through a reckless trading technique and a misunderstanding of how to trade binary options.Many platforms are keen to promote stories of success in order to encourage new traders to access the markets through their online interface. However, these stories are not entirely feasible, and further more, they also act as an incentive to new traders that binary options have the potential to provide high returns in a very short amount of time. Those that experience a loss, which is also very common for all traders, often look to blame someone or something for their lack of success. Instead of working on one’s trading style and developing a strategy by learning from these mistakes, it is easier to be convinced that the platform is somehow accountable for a bad trading decision.There is one group of traders who do have a valid reason to assume that they have been involved in a binary options scam and these are traders who actually have been scammed. Although this is not common and does not happen if traders use a reputable trading platform, it is a feature of all financial industries and has seen a sharp rise with the rise of the internet. Since many platforms are 100% web-based, they may be difficult to distinguish, although there are several ways to avoid becoming involved in a binary options scam.

Actual Binary options scams

Several high-profile publications have recently warned investors against trading with binary options. The principle reasons that they have identified for taking this position is that with such a large number of brokers emerging, it has increased the possibility for traders to be lured in to an actual binary options scam. There is no denying that in any industry, and especially one which is becoming as popular as binary options trading, where customers are asked to part with their money online, there will be individuals who will attempt to take advantage of this and exploit new and inexperienced members. Fraud on this level, however, is highly illegal in all jurisdictions and cannot be directly attributed to the concept of binary options or the reputable brokers within this industry.Aside from illegal fraud, some people claimed that the platforms themselves operate a binary options scam which seeks to prevent traders from becoming profitable through their trading. This is based on the understanding that binary options are designed to benefit the brokers and platform providers rather than the individual traders who they claim can gain in excess of 85% of their initial investment. Indeed, in some people’s view, the sheer potential for such high returns is reason-enough to assume that binary options is a scam. This is coupled with the stories from unsuccessful traders who have lost their entire investment due to a combination of poor experience and reckless money management during their binary options trading.Despite the minority’s negative opinion of binary options trading, the platforms themselves have striven to remove this image of promoting a binary options scam. Increasing the transparency of the platforms in terms of the execution of trades has gone a long way to reassuring investors that their options will both open and close at precisely the time and price as pre-agreed. This has come a long way from the early days when the slight delay in the data feed and closure of short-term binary options led many to criticize the ethics of binary options platforms that were seen to be delaying this information for their own benefit. Many of these initial fears are still prominent online but convey a highly outdated view of the reality of modern binary options trading as we know it.

How to avoid a binary options scam

Additional fears of a binary options scam have included the failure by some binary options platform providers to fall under national regulation. Since this could make it difficult to distinguish between those providing a genuine service and those simply operating a binary options scam, many brokers are opting to become registered, including Bank of Trade, in order to further reassure their clients. Reputable brokers such as Bank of Trade also offer the following advice to all new traders looking to register with a binary options broker in order to avoid binary options trading scams:

  • The first piece of advice to avoid the illusion that binary options is a scam is to learn how to trade and understand how they work. Only education and a good understanding of money management and the trading strategy will avoid losses and are part of the learning curve for all successful traders.
  • Thoroughly checking the credentials of the trading platform that you are registering with will help to reassure you of the company’s credibility and to avoid a binary options scam. This can be done through a number of checks including the address, regulatory status and general comments related to their services. It is also highly recommended to call the company and talk directly to an employee to gain confidence in their services.
  • One of the most important factors in ascertaining that the broker is not operating a binary options scam is to read press and web discussions relating to the company. Free forums exist and it is always good to have a company recommended by friends and fellow traders before investing in options. If there is no information on a particular broker, or only negative feedback out there, then it may not be worth the risk.

Increasing the chances of binary options success

One of the greatest pitfalls of all traders who are new to binary options trading is to want to make as much money as possible in the shortest period of time. In order to not only preserve your capital, but also to avoid a binary options scam, it is important not to throw everything at this in one go and to take time to learn how binary options works before committing funds. Despite the fact that all of the popular binary options platforms which includes Bank of Trade are reliable and trustworthy, those which are lesser known will require some caution before transferring large deposits. The best way to avoid a binary options scam with these platforms is to only deposit a small amount in order to get a good idea of how the platform operates and if it genuinely provides the services that it offers effectively.

Learning basic trading strategies will improve chances of success

It is also essential that a new trader becomes both familiar and comfortable with binary options in order to avoid becoming one of those traders who thinks that it is a scam. This involves learning the basics of how markets operate and also what binary options you will trade initially; information which is available on the Bank of Trade website for free. Getting to know your chosen markets by monitoring how it behaves is one of the best ways to get a feel for potential trade opportunities as well as learning some basic trading strategies which will hopefully increase the probability that the trading decisions that you make will be the correct ones and result in profitable performance. Too many traders will make the mistake of assuming that, because they are so simple, making money from binary options must be easy. It is very true that it becomes easier but as with everything it takes both time and dedication.

Money management will remove the feeling of being part of a binary options scam

An additional recommendation for those new to binary options and who wish to be given the maximum opportunity to take advantage of the large profit potential is to successfully manage the funds that are available to each trader. Those who are critical of the ‘binary options scam’ have usually experienced large losses soon after beginning to trade binary options. This is a very common occurrence, and one which is easily avoided by simple money management and through limiting the amount that is risked through each trade. Basic rule which can be applied by all new traders is to limit the percentage of a trading account to make sure that you have the resources to continue even after several losses. As practice is a very important aspect of binary options trading, it is important to maintain an active account through limiting the risk exposure of each trade. Both professional and home-based traders maintain that by never trading more than 2% of an account on any single trade will provide the highest opportunity for the trader to become profitable.

The theory behind binary options scams

The theory behind binary options trading scams is generally twofold. The first of these is that many people consider binary options to be a scam after losing all of their account funds through a combination of poor trading decisions and misunderstanding of how to trade binary options. The second of these is the misrepresentation of the financial rewards provided by binary options platforms aimed at increasing the expectations of new traders to assume that they will be highly profitable instantly. Both of these theories support each other in creating the demise of the new trader and also reinforcing a false image that binary option is generally a scam that should be avoided.Thinking rationally about the first theory, it is obvious that every trader cannot possibly be profitable. As with any form of financial speculation there is always going to be risk without which there would be no market as everyone would be profitable, which is simply not possible. Binary options are no exception, although, as with all speculation, there are many winning opportunities as well as the potential for losses. Sensible binary options traders will focus on taking advantage of the existence of these opportunities whilst controlling their exposure to the risks that also exist. This is rarely the approach of those who claim that they are the victim of a binary options scam when their trading decisions have influenced their success.

Be aware of brokers who only promote binary options profits

The problem becomes worse, however, as traders may rightfully feel that they have been the victims of a binary options scam through binary brokers who claim that money can be made easily. These brokers will often convince new traders that they only need to sign up in order to begin earning at least 85% on each trade. Not only is this deceiving, but it does not offer full information of the risks inherent in all financial speculation and which is disclosed openly by Bank of Trade to all potential new members.Those brokers who withhold or present binary options trading as a get-rich-quick scheme are almost certainly worth avoiding. These brokers propagate the image of the binary options scam that those who become victims of often, and rightfully so, complain about. In order to avoid being sucked in to a similar binary options scam, it is best to look for a broker who will not only provide supportive information to new traders, but also the tools to become successful. First and foremost the tools which are most valuable to new binary options traders are the educational resources to develop trading skills. These are offered by all of the most popular binary options brokers, including Bank of Trade.The combination of poor trading knowledge and decisions coupled with the over-inflated expectations advertised by brokers are the underlying reasons for some traders assuming a binary options scam. Whilst returns from winning positions will always be high with binary options, only the best brokers will also disclose the risks whilst supporting their members to become better traders.

Beating the binary options trading scam theory with success

Despite some of the negative news regarding some suggestions of a binary options scam, it is clear that there are a large number of traders who are happily trading profitably with binary options. How is this possible if platforms are set up to cheat and scam traders? The truth is that a large number of those platforms providing access to binary options markets are both highly reputable and also guarantee the profit levels that they offer. This is one factor which has been raised as an issue by several Securities regulators, who have claimed that since losses extend to 100% and winnings are often lower than this, a binary options scam exists.However, this can be countered by two arguments on behalf of platforms which, unlike forex brokers, do not charge a variable spread for commissions and which have a pre-determined risk and reward level with the client prior to entering a trade (hence no slippage caused by a delay in filling orders which is open to manipulation). The first of these is that many brokers, including Bank of Trade, include an insurance rate for losing trades which can be up to 15%, ensuring losses incurred on each trade are also 85%. The second defense is that many binary options brokers offer touch and range options which can far exceed the investment in terms of profit with some platforms offering up to 500% returns.

It is easy to avoid brokers promoting a binary options scam

The reality is that trading successfully is possible with binary options, assuming that the trader is provided with the correct tools to take advantage of high-probability trade setups. This has already been identified as an educational resource for new traders and the limiting of advertising which promotes unrealistic profits without reference to potential losses. Additionally, binary options brokers that are regulated and highlight the risks inherent in any financial speculation to their clients are more likely to promote more confidence in their services.Whilst it is in the interest of all brokers to promote their services, and the competition between these is very good for innovation and customer-orientated competition, it should not be looked at negatively given the high number of quality brokers providing efficient and trustworthy ser ices to their clients. Of these, the most popular brokers, including Bank of Trade, thatprovide services to a vast number of traders have the most to lose from being branded as operating a binary options scam. Therefore, the risk of depositing with a rogue broker that only has its interests in mind is substantially reduced with those brokers that are successfully used by a large number of traders.

Summary of binary options scams

Although there has been some criticism towards binary options trading scams, it is important to recognize that these are not all linked to the brokers themselves. As with all forms of speculation, the risk of incurring losses exists and, in many cases, the bad trading decisions and poor preparation of new traders cause losses of an entire trading, account which is then blamed on the concept of binary options trading. Binary option scams, however, do exist in the minority of cases where fraudulent brokers and those advertising too-good-to-be-true profits operate. These not only bring a bad name to binary options trading, but are often illegal, promoting unregulated online brokers.Luckily, these can be avoided fairly easily by looking at the credentials and doing some research on a number of reputable brokers. Those that are not only highly established and have a good reputation, but also promote the interests of the trader through the tools and features that they genuinely offer can be considered reliable providers of binary options services. These brokers, such as Bank of Trade, offer new and experienced traders the opportunity to learn how to trade binary options and avoid the risk of losing all of the initial deposit. Whilst no profits are ever guaranteed with any financial speculation, binary options brokers that offer this kind of service will help new traders to be successful rather than the victims of a binary options scam.