Banc De Binary Closes

It looks like Banc De Binary has eventually closed after a steady stream of bad press and regulatory problems, compounded by fines. Although the still existent website now carries a warning the site’s blog has disappeared, but their registration page is still available, so we’re not exactly sure what’s going on there!.

Their troubles have included articles in the Mail Online which accused the Israeli owned Binary Options Firm of many bad practises including the targeting of vulnerable investors. While some issue may be taken with the way that the Mail reports on what is essentially a gambling platform the publicity. Whilst bad for Banc de Binary it does at least highlight the general ignorance and folly of the public when it comes to getting their credit cards out online.

And while we may again applaud the Mail for bringing to the public’s attention how quickly money can be lost, it must also be noted that their webpage is literally plastered with adverts for other financial ‘trading’ platforms. Why the apostrophes on ‘trading’? Because it is gambling, it’s as simple as that. A visitor to the Mail’s site may click on of their adverts and register, in which case, surely the Mail would be in some part culpable?

‘Mail bashing’ aside, the Binary operator has also fallen foul of regulatory bodies. It has lost its Belize license, and has renounced its CySEC license. The US Securities and Exchange Commission also fined the firm in 2016.

So how did this state of affairs come to be? One of the largest Binary firms around and for a while a trusted one. No-one know of the internal machinations, and it leads to the more important question, who can I trust?

Binary Broking is, as noted, gambling. Brokers are not saints. Smart traders may earn money from them, but if you’re looking for ethics and trust you may as well have a chat with your local drug dealer. Most importantly, and this is where most people fall down, never deposit more than you are willing to lose.

Having said that, if you play with money that you can afford to lose and are aware that it is a gambling situation where you are playing against ‘the house’ and not the markets, then let the dice roll…

Binary Options Demo Accounts

Would you buy a new car without taking it for a test drive? For many people the answer will be a simple no. And for anyone thinking of taking up options trading, the way to ‘test drive’ a broker is to sign up for a binary options demo.

There are now innumerable options site where you can sign up, but very few of them have a binary options demo available. Of the offering them, many will only allow you to use their demo account facility after you have made your minimum deposit which can be $250 or more. This is a bit like letting someone only letting you test drive a car after you’ve made a down payment.

And, the demo accounts can be very time limited, with some brokers you only have five days with which to get your head around the trading options, tools. And if you are new to trading this is all before you’ve got half an idea of how to develop a trading strategy.

So what is required? A broker with a free trading demo account that does not expire overnight. Zulutrade offer a demo account for both forex and binary options trading, which are left open indefinitely, and you do not need to deposit.

Zulutrade Binary Options Demo

This will allow you to develop and test strategies without having to pay a single penny or cent. It must be noted, that when you change from a demo account to a live one there are ‘transitional issues’. Firstly, there is the psychological difference between betting with virtual and real cash. For example, in demo mode, you may decide to not cash out early (sell) and protect your investment when the trade is going in the wrong direction. In contrast, when you are trading with real money, you may balk at your potential loss and cash out before your trade turns around and hits the payout.

The above is just one consideration when thinking of opening a demo account. The only way you will learn how to deal with these issues is by opening a demo account in the first place. And if you are going to open one, then even if you don’t stay with Zulutrade for the virtual to live transition, at least it will give you a free feel for how the markets move. To open a demo account click here or click the button below.

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Option Fair Welcome Bonus

If you are thinking of trading binary options for real money, then a bonus in your account may be a great way to get things started. Option Fair are currently offering a 20% bonus for new members who are looking for a reputable Binary Options Broker to sign up with.

Option Fair do have a demo account although it only lasts 5 days. If you are new to trading the markets it may well be wise to do a bit of homework before you start trading with real money. Don’t believe the hype, Binary Options is not a license to print money it is ‘intelligent gambling’, so before you lay a punt, you should probably get to know your horses!

You will also get a 1 to 1 session with a Senior Account manager plus access to the OF Academy for one month. The academy is perhaps more use than the manager as you can’t cover much in one session. The OF Academy offers:

Video Tutorials to develop a deep background knowledge of the world’s financial markets. Technical analysis and investment techniques are taught from the bottom up to advanced strategies.

Learning of Technical Analysis is also supported via eBooks. They also have a hot trades alert system which you can access through the academy.

Please note that if you do accept a bonus it is subject to terms and conditions. Any bonus is subject to a splitting of accounts which will effect the percentage of winnings that you can withdraw. If your trades win with bets placed using an accepted bonus, the bonus percentage will be added to your bonus account, not your real account. So, if you are $1,000 up on a trade $200 (20%) will be added added to your bonus account, leaving a win of $800 in your cash account.

Although this system may appear a bit complex it is a bit fairer than some of the bonus terms we have seen out there. Fairness is Option Fair’s unique selling point and in this case they are sticking to it with their bonus terms. To sign up for you bonus simply click the button below, or click here.

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Binary Options Scams

The online binary options trading market is suffering a bit of a ‘reputation plague’ due to a number of unscrupulous operators runnning binary options scams. This should not put off anyone thinking of trading the markets, it should however make them cautious about which broker they sign up with.

The word ‘scam’ is used a lot, perhaps overused, as it is applied to any situation whereby a trader (usually new) is dissatisfied with the handling of their funds for example. Dependent on the individual case it may, or may not be a scam. So, what types of scam are out there?

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Trading At Banc De Binary

If you are new to binary trading you may have been wowed by reports of how easily you can make money from betting on options. You may also have read that the industry is a hornet’s nest of scammers waiting to sting your bank balance.

There’s a bit of truth in both of the above, although it must be noted that money can be lost just as easily as it is gained. When it comes to actually choosing a binary broker to register and trade with one of the most important elements to consider is ‘trust’. Forget about the bonuses on offer, they come with terms and conditions anyway which may be problematic when it comes to withdrawals.

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Zulutrade Binary Options Demo

Binary Options trading can be very fast paced. You can easily make big bucks very quickly, however, you can lose money just as quickly. If you look at the winners feeds on some brokers sites you will see five figure wins on 1 minute bets, but they don’t show you the losers, obviously…

So, unless you have a crystal ball, or are a certified trading genius you should probably start with a binary options demo trading account from Zulutrade. There are at least two reasons for this. Firstly, even if you know how to trade the forex, stock or commodities markets, different trading platforms have differing levels of functionality, so you need to know if your chosen platform has what you need, and whether you find the trading dashboard intuitive enough.

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