Can You Make Money with Binary Options?

Last Update: January 04, 2016

Hello everybody!

I have a few questions about binary options. I know I could just look them up on google but I'd like to pick your brain! =)


- what are binary options exactly?

- are you into binary options? If so, do you have a website that you can point me to?

- do you know of a good training program to learn binary options?

- have you ever earned money with binary options?

- do you think binary options is a scam? if so (or if not), why?


Thanks a lot for your contribution and time! Merry christmas! =)

Sarah


Update

PS : wow you guys are so awesome! I have read all your answers and plan to answer each and everyone of you =) Let me just find some time between still unwrapping presents and eating christmas leftovers =) Merry christmas to you all!

Sarah

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BoyRacer Premium
The only people who make money with anything with the word Binary in it is the people who created the option. Leave well alone :(
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BelieveItYes Premium
Hmmmmm I'm an optimistic, I'd like to find people who are actually earning good money trading, because they know what they're doing and got the proper training... there's got to be such people out there! lol
Happy new year !!
Sarah
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geraldkew Premium
I've a better chance with the lottery, cheers!
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BelieveItYes Premium
ahahah lol which reminds me that I might have won yesterday's lottery ^^
cheers
Sarah
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geraldkew Premium
Good Luck,cheers!
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BelieveItYes Premium
=D thanks
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stn67 Premium
You might as well ask whether it is possible to earn money to go to the casino. If you ask me so no it's pure entertainment not a business that is stable
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BelieveItYes Premium
Hmmmmmm yeah I also have this feeling about binary options... so volatile. I'm trying to collect as much information as possible for a friend of mine who really wants to become rich with binary options... but I wouldn't want to see him get ripped off and depressed...
Thanks for sharing your opinion!
Merry christmas
Sarah
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stn67 Premium
Yes use only money from it as you can afford to lose
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Everlight Premium
I think the answer from this question blog can cover your questions: I'll stay away from it :)
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BelieveItYes Premium
Hmmmm yes I have already read this blog post lol... I was looking for more information ^^
Thanks though for your time and advice!
Cheers
Sarah
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paulgoodwin Premium
Stay away it is all a scam - trust me because I have a cousin who know one of the people involved and told me all the horror stories
And it is same every where stay away
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BelieveItYes Premium
Hmmmmm thank you for your answer. I am not particularly interested in binary options (I hate numbers and stats lol...) but a dear friend of mine is tirelessly trying to earn money with it and I'm concerned he'll lose all his time, money and energy... =/ Which is why I wanted to collect as much information and feedback as possible!
Thanks again
Sarah
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DavePaton Premium
Hi again Sarah, don't let him get into binary options. For a start, the amount you have to trade is generally quite large to even withdraw your funds and it is just so hard to consistently make money with it. I have been searching for a way to make money online for years and WA is the best thing I have come across so far, If he wants to try some form of online trading, get him to learn about forex. Forex is not a scam. When you invest money in the bank, they go and invest it in the forex market. They give you the measly amount of interest and keep whatever they make on top of that.

However, it does take a lot to learn all you can about the forex market. It is possible to do quite well with it and I have a friend who is doing OK with trading forex. But the key is education, learn, learn, learn and open a demo trading account. Don't go live until you can double the demo trading account.
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BelieveItYes Premium
WA is definitely what's worked best for me but my friend is really interested in binary option, forex, trading and alike and he's got a very good understanding of it.. but lacks a mentor or good training. I'm looking for honest people who will be willing to share their tips and advice.
Would you mind giving my contact to this friend of yours? Perhaps he can share his story
Thank you again for your time
Blessings
Sarah
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DavePaton Premium
I have asked him before if he could help me with my trading but he has said that a lot of his trade decisions have many other factors influencing his decisions, a lot of discretion involved and he couldn't possibly help me understand what he does as it comes the experience he has gained from his 30 or so years of trading.

I have a list of sites from when I was trading forex and I could pass them onto you to let him know.

These sites are in relation to forex but some can be applied to binaries, as they use similar instruments, eg, trading of pairs etc.

http://thepatternsite.com/
http://www.forexfactory.com/
http://www.babypips.com/school
http://www.fibonaccibook.com/
http://www.forexfibonacci.com/
http://www.forexstrategiesresources.com/metatrader-indicator-mt4/various-metatrader-indicator/
http://forex-indicators.net/
http://forex-strategies-revealed.com/
http://myforexdownloads.com/
https://www.forex4noobs.com/
http://www.investing.com/
http://www.babypips.com/tools/forex-calculators/positionsize.php
https://www.myfxbook.com/
http://www.winnersedgetrading.com/


Hope these help him a bit :)
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DavePaton Premium
I would be happy to talk to this friend of yours Sarah. I know a bit about forex trading and would be willing to share what I know with him :)
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BelieveItYes Premium
You are awesome =) I will send his info through private message
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