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BINARIUM
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Perfect For Beginners and Middle-Leveled Traders!
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7 Binary Options
Marcio
Latest posts by Marcio (see all)
- How to Become a Great Trader? – March 2, 2020
- 7 Mistakes Novice Traders Make (Please, Avoid Them) – February 12, 2020
- 5 Day Trading Tips You Want to Know – January 20, 2020
Flip My Binary Account is a fully automated binary options trading system created by Ronald Green. Is this another scam or a legitimate system? Read our review.
Basic information:
Cost: Free
Software: 100% Automated
Max Returns: Up to 88%
Minimum Deposit: $200
Countries: All nations
- Fully automated
- User-friendly interface
- No information on how the system operates
- Customer service is unreliable
- No proof of profits
- Lack of positive and unbiased reviews about the system
7BO Verdict:
With the abundance of binary options trading platforms and automated systems available on the internet there are bound to be phony systems and scams. Flip My Binary Account is a fully automated binary options trading system that claims to have a success rate of 80%. However, we are never given any information as to how this system even functions. And even more disturbing, we have seen no proof that this trading software actually generates a profit of 50%, let alone 80%.
What is Flip My Binary Account?
Flip My Binary Account was created by CEO and founder, Ronald Green, who claims to have all kinds of profound insights into the world of binary options trading. However, we are given no information whatsoever as to how this system operates. This fact alone puts a bad taste in our mouths. In order to trust a system to be able to predict and initiate trades on your behalf, you need to have some idea as to what type of algorithms the system uses to make its predictions. How can the system claim to have an accurate rate of 80% if they do not give us any indication as to how their system makes, collects and analyzes its data and the first place?
How to get started
As with most binary options trading systems, you must create an account and register with one their recommended brokers. Then you would make your initial deposit, choose your trading parameters and then let the system make trades on your behalf. Once you see some profits, you may withdraw your funds according to the guidelines predetermined by your specific broker.
However, we could not find proof that any of the brokers associated with Flip My Binary Account are registered brokers. This puts some doubt in our minds as to the legitimacy of this system.
Is Flip My Binary Account a Scam?
While we cannot say with absolute certain that Flip My Binary Account is in fact a scam, we have multiple reasons to doubt its validity. First of all we can find no information anywhere as to how this system operates. Also, we can find no proof that traders are earning anywhere near the profits promised on the sales page. Also, we could not get a hold of their customer service department to ask them a few basic questions about the service.
Final Conclusion
After our thorough investigation, we hold to our original statement that Flip My Binary Account is not a reliable system. The lack of positive reviews only intensifies our concerns regarding the validity of this trading system. We advise that you should consider a more tried and true trading system. If you decide to utilize this system, we recommend that you proceed with caution.
How to Trade Options
Melissa Brock
Contributor, Benzinga
What are Options?
An option is a contract to buy or sell a stock, usually 100 shares of the stock per contract, at a pre-negotiated price (also called the “strike price”) and by a certain date (also called the “exercise date”). Read on to learn how to trade options.
You Invest by J.P. Morgan
You Invest by J.P. Morgan
Enjoy up to $625 when you open and fund a new You Invest Trade account with $25,000 or more in new money within 45 days. New money is cash or securities from a non-Chase or non-J.P. Morgan account. Maintain the balance for 90 days and we’ll add your bonus in 10 business days. Find out how.
INVESTMENT PRODUCTS: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
Table of contents [ Hide ]
Elements in Options Trades
You must decide, in an options trade, the following:
- Which direction is the stock going to move?
- How high or low will the stock price move from its current price?
- How will the stock move during a particular time frame?
Types of Options Trades
There are two types of options you can buy or sell: call option and a put option.
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Call option
This option allows the buyer to buy the contract at the specified price on or before the expiry date and is exercised by the buyer when the market goes above the strike price. Within the call option, there are two possibilities:
- Buy call: The buyer will buy the contract as it would yield maximum profits and limited loss, which is equivalent to the premium paid to the seller initially.
- Sell call: It is the obligation of the seller to sell when the buyer exercises his/her call option.
Put option
The buyer can sell the contract at the specified price when the market price moves below the strike price. Within the put option, there are a couple of possibilities:
- Buy put: The buyer has the right to sell the contract when he/she thinks the prices will fall. He/she can sell the contract at his/her own will.
- Sell put: The seller has the obligation to buy the contract. The seller enters in such a contract anticipating earnings.
Options
Understand the Risks of Options Trading
Options can be purchased speculatively or as a hedge against losses. Speculative purchases allow for the potential to make a lot of money, but only if traders can correctly predict the magnitude, timing and direction of the underlying securities’ price movement. Doing this incorrectly can result in large losses and high trade commissions. Novice traders, beware.
Options Trading Terminology
If you’re a new options trader, you’ll quickly realize there are lots of new, potentially bewildering terms. These terms also include some already covered (it’s important to review!):
- Holder: A trader who has bought an option.
- Writer: A trader who has sold an option.
- Strike price: The price at which the asset will be bought or sold.
- Expiration date: The already-agreed upon date by which the option owner must exercise his right to buy or sell the underlying security. After this date, the option expires.
- In the money: The market price of the asset is higher than the strike price (in the case of a call) or lower than the strike price (in the case of a put).
- Out of the money: The market price of the asset is lower than the strike price (in the case of a call) or higher than the strike (in the case of a put).
Choose a Broker
Low commissions are just the tip of the iceberg when it comes to choosing the best broker for options. Traders need to consider hidden fees, such as platform fees and data fees. Different traders have different skill levels, trading strategies and needs.
Options trading can be complicated, and beginners need to make sure to find a platform with plenty of educational resources and guidance. Advanced traders need to look for professional-grade features and research. Check out some of our favorite online stock brokers below.
Broker | Best For | Commissions | Account Minimum | Choose your platform | |||||||||||||||||||||||||||
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$0 | $0 |
1 Minute ReviewChase You Invest is the retail brokerage arm of JP Morgan Chase, the largest bank in the United States. While most of the firm’s products are targeted toward wealthy clientele, You Invest gives novice investors a chance to learn about markets, select the best securities and plan for future goals like retirement. No futures, forex, or margin trading is available, so the only way for traders to find leverage is through options. Not all investors will appreciate the basic setup and simplistic trading suggestions, but plenty more want to learn about markets but just don’t know where to get started. Chase You Invest provides that starting point, even if most clients eventually grow out of it.
Current PromotionGet up to $625 when you open and fund a You Invest Trade account eOption |
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$0 for stocks and ETFs broker assited orders an additional $6 | $500 to open an account |
1 Minute RevieweOption is a stock, fund and option trading platform that focuses on low-cost options trading. Its options trading is very affordable at just $0.10 per contract and $1.99 per transaction. The broker also offers a comprehensive options trading course that’s free and educational for both novice investors and advanced traders alike. eOption’s platform is less usable than its competitors, especially for new traders. Futures and forex trades aren’t currently available, daily market updates are full of jargon and the platform includes very few intuitive features and explainers. Customer service options are also lackluster, and mutual fund transactions are expensive. While eOption might be a great choice for options traders, we recommend other platforms for beginner traders primarily interested in stock and ETF investing.
Current PromotionIncoming wire transfers of $10,000+ will be reimbursed wire transfer fees up to $30 eTrade |
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$0 | $0 |
1 Minute ReviewE*TRADE is an online discount trading house that offers brokerage and banking services to individuals and businesses. One of the first brokers to embrace online trading, E*TRADE not only survived both the dot-com bubble and Recession — it thrived. You can choose from two different platforms (one basic, one advanced). E*TRADE is a suitable broker for traders of most skill levels, whether you want to buy mutual funds and hold them for decades or dabble in options swing trading. E*TRADE offers a library of research and education materials to help you out.
Current PromotionDeposit or transfer $5,000 to get $100 back TD Ameritrade |
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$0 $6.95 for OTC Stocks | $0 |
1 Minute ReviewThis publicly listed discount broker, which is in existence for over four decades, is service-intensive, offering intuitive and powerful investment tools. Especially, with equity investing, a flat fee is charged, with the firm claiming that it charges no trade minimum, no data fees, and no platform fees. Though it is pricier than many other discount brokers, what tilts the scales in its favor is its well-rounded service offerings and the quality and value it offers its clients.
Current Promotion$600 cash & free trades for 60 days TradeStation |
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$0 | $0 |
1 Minute ReviewTradeStation is for advanced traders who need a comprehensive platform. The brokerage offers an impressive range of investable assets as frequent and professional traders appreciate its wide range of analysis tools. TradeStation’s app is also equally effective, offering full platform capabilities.
Current PromotionGet $100 when you open an account with $500 or more Robinhood |
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$0 per trade | $0 to open an account |
1 Minute ReviewRobinhood is the broker for traders who want a simple, easy-to-understand layout without all the bells and whistles other brokers offer. Though its trading options and account types are limited, even an absolute beginner can quickly master Robinhood’s intuitive and streamlined platform. On the other hand, more advanced traders might be frustrated by Robinhood’s lack of technical analysis tools, a feature that’s now nearly universal across other platforms.
Current PromotionRefer friends and get FREE stock Firstrade |
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$0 when you trade stocks, ETFs, options, and mutual funds online | $0 |
1 Minute ReviewEasy-to-use and quick to master, Firstrade offers new and veteran traders alike a simple way to start investing with rock-bottom pricing. Firstrade’s platform is simple and streamlined, and it extends this convenience to its mobile app. The company’s $0 commissions on stocks, ETFs, mutual funds and even options make Firstrade especially appealing for frequent traders. Firstrade also offers margin trading, though rates are a bit more expensive than some competitors. Firstrade also currently doesn’t offer access to futures or forex trading, and some more advanced traders may dislike the broker’s simple platform.
Current PromotionGet up to $600 when you open and fund an account today! Interactive Brokers |
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$0.005 per share minimum $1 and maximum 0.5% of trade value; volume discount available | $0 |
1 Minute ReviewInteractive Brokers (IBKR) is a comprehensive trading platform that gives you access to a massive range of securities at affordable prices. With access to over 125 global markets, you can buy assets from all around the world from the comfort of your home or office. Options, futures, forex and fund trading are also available — and most traders won’t pay a commission on any purchase or sale. IBKR is geared primarily toward experienced investors. The platform offers limited assistance and can be a challenge for new users to become acclimated to. The broker’s tiered pricing strategy can also be frustrating for traders who focus on hourly or daily price movements.
Current Promotion$200 refer-a-friend bonus Before choosing the right broker , each trader needs to consider his or her trading style and which features are most important in maximizing profitability. In addition, be sure to avoid scam trading sites and platforms. Getting approval from your brokerBrokerage houses will have to give you permission to trade options; they set limits based on how much money and experience you have before they’ll allow you to trade. Paper Trading for OptionsPaper trading is an important step for anyone serious about making a profit in the options market. It’s a way for beginning traders to perfect a trading plan before trading with real money. That said, paper trading cannot be approached lightly! It’s possible for new options traders to not take fake money seriously, so they experiment in ways they might not with real money. Therefore, it’s possible for two things to happen:
It’s important to treat paper trading as if it’s real money, but some traders argue that paper trading can never replace the emotions you’ll experience when you’re using your own money. Advanced Trading OptionsOnce you’re familiar with the ins and outs of limit orders and execution prices, you’ll likely be ready for advanced trading options. In addition, you’ll be experienced enough to know to reevaluate your strategy periodically, learn from your mistakes and also, your successes. There are other, more advanced trading strategies you can look into, including:
Learn More About Options TradingMore complex than trading stocks, it’s necessary to educate yourself. Take classes, pay attention to forums and blogs, watch tutorial videos and download books on trading. Track the news and know what’s going on in the world economy, and finally, talk to a real trader and ask him/her for guidance. Seek a mentor through your brokerage firm for guidance if you’re a beginner options trader. It’ll be instrumental to your success as a trader, as there is lots of misinformation online. Many brokers have thorough education on options education. It’s complicated, so you shouldn’t go it alone. For more information and further education, visit the official website of the Options Clearing Corporation , or OCC. If you want to take a deeper dive into options trading and strategy, we always recommend reading a great options book or taking a class from the pros – like Market Rebellion’s professional trading courses. One more stepPlease complete the security check to access optionfield.comWhy do I have to complete a CAPTCHA?Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. What can I do to prevent this in the future?If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware. If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices. Another way to prevent getting this page in the future is to use Privacy Pass. You may need to download version 2.0 now from the Chrome Web Store. Cloudflare Ray ID: 581630da2d8a7b57 • Your IP : 188.64.173.24 • Performance & security by Cloudflare The problem with binary options trading!A fair bit of spotlight/scrutiny has been placed on binary options in the past years, with warnings issued from central banks such as the MAS (MAS-Cautions-Investors-on-Risks-in-Trading-Binary-Options-with-Unregulated-Platforms, SEC warns against Binary Options and scams such as the-wolves-of-tel-aviv-israels-exposed. Likewise, we hope to take this chance to educate investors on this highly risky investment product and advise everyone to think twice before hopping on this bandwagon. What are Binary Options? For those who might have chanced upon a Binary trading advert or some sort of get rich scheme, you might be familiar with the below: Trading with Binary options is to predict whether a stock, or an index, or a commodity or a forex pair, would go up or down within a certain time frame. Binary options “are based on a simple ‘yes’ or ‘no’ proposition: Will an underlying asset be above a certain price at a certain time? Correct, you are NOT actually buying anything, you don’t wait for something to go up and sell at a profit, not at all. You invest in putting down an option that, for example OIL, will have increased in price by the time your option expires, or the other way around, that it will close lower. If you are right, you will make a profit of 65-90% on your invested amount. These option time frames can be as little as 30 seconds, to 2 minutes, to 15 minutes, to 1 hour, . It all depends on what you chose. Short answer is yes & no. In fact, it is not a scam when u consider that Binary options are in fact about as legitimate as your roulette wheel or soccer betting. Also, Binary options are simple to digest and much easier to peddle as a “transparent trading instrument”, thus attributing to its popularity. However, very often, you end up taking the other side of the market as your broker, i.e. If you win, the broker loses and vice versa. This creates a skewed conflict of interest and their ability to adjust the payout ratio (Odds/multiplier) amplifies that. The scam comes in when certain brokers get greedier and you start seeing instances like refusal to credit customer accounts or reimburse funds to customers; identity theft; and manipulation of software to generate losing trades. Do not trade Binary Options. Long story short, you have no business dabbling with binary options. You run the risk of dealing with an illegitimate broker and even if you manage to find a proper broker, you end up facing insurmountable house odds with negative expected value. If the gambling bug bites, you might just be better off playing the lower house edge games in the casino like baccarat or blackjack. In conclusion, there is no quick and easy money to be earned. Instead, do your homework and read.
Comments ( 51 )Didn’t read the whole post, only the conclusion. I’ve sold structured products that had a binary content to them. Some large funds trade them. It’s an investment with associated risks like any other. Sure some people might try to rip your eyeballs out in the retail market but otherwise all good..
Futures and Options are the same thing, just betting on movement (but by definition, you have the right to delivery/right to 100 shares yadda yadda) but we all know no one actually does that. Just a nice way around the definition of gambling.
P&D, I would respectfully disagree that options trading is nothing more than structured gambling, if that is your position. I’ve been an active options trader for many years, but even though I have a level 4 options trading clearance w/my brokerage account, IRAs allow for only level 1 (2 at some institutions). Level 1 meaning I can buy/sell calls/puts. Period. Level 4 allows me the ability to trade calls, puts, spreads, straddles, strangles, condors and a few other strategies. However, I keep my strategies pretty simple, keep my timeframes to weeklys or monthlys, and I use my strategies to get into a position at a cost below the CMV (by collecting premium to lower my cost basis if I’m getting assigned shares by selling puts), or by liquidating a position for above CMV by collecting premium by selling calls). Also, I like to sell straddles around earnings season, when I anticipate increased volatility. I don’t like LEAPS simply b/c it ties up my excess capital for too long. Trading options isn’t for everyone, but they are a valuable, powerful tool when used properly. On the flip side, they can be monetary weapons of mass destruction when used improperly. The OCC (Options Clearinghouse Corp) is an excellent resource for those who want to trade options to start out. They used to have mock accounts that would allow people to practice w/o using real money. Don’t know if they still allow for that, but I found some valuable tools on the site that I hadn’t found in a number of books I’ve read on the topic. Long-winded post I know. I’m pretty passionate about the practice, though. I have not come out on the winning side of every options trade, but all-in-all, I’ve done quite nicely, often times picking up anywhere from $300 – $2300 in a week without actually liquidating a single share in my portfolios. I started out with options, I lost some doing stupid stuff with SPX weeklies (that’s not why I said what I said in my post above) but made all of it back and then some by simply doing directional vertical spreads. Keeps the theta low, low cost upfront, and if you have a measured move you can adjust your strike legs accordingly and up your RR ratio. Some strats are really cool and can even do for income (ie covered calls)! I actually don’t hate options, I just found I was doing great with directional plays so just went with futures. No theta decay, no expiration. I didn’t need to wait at expiration for my max profit. The money you can make in a 20 point day in /ES is vastly different than a 20 point out spread on SPX, very wide in terms of profit. Just by reading that you keep your time frame to weekly and monthly already shows you know what you’re doing 100% (doesn’t mean a lot coming from me lol). Unfortunately this isn’t the case for 95% of traders. Most do options for the massive leverage, and doubt they even care about the whole “right to 100 shares @ a specific strike @ a specific date,” or any of the strategies that you have mentioned. There was a report I read, most option-traders blow up because they buy super low expy options, they are just betting on the direction in such a short time frame, similar to binary options. In other words, they get stuck on the level 1 approval, lol. That’s awesome to hear, I seen your other posts, and I always love speaking to those who have been in the trading game for a while. I’ve only been in the game for around a year now, and I love it. Still very young but can’t wait to see if I can emulate what I’ve learn and applied to a much larger account size. I personally believe that the market is simple, and the people who win are those who don’t overcomplicate it. EDIT: I generally believe selling premium is kind-of-meh at times. I mean, you’re risking like 3:1 or sometimes 5:1 for a higher probability of profit. 5-10 wins can get wiped out in 1 loss sometimes. BUT, whatever works works. Making money in the end is all that matters. the positive expectancy is all that matters. Best Binary Options Brokers 2020:
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