Flip Sides Of Booking Binary Options Trade

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7 Binary Options

Marcio

Latest posts by Marcio (see all)

  • How to Become a Great Trader? – March 2, 2020
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  • 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.

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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.

JP Morgan Chase
Broker Best For Commissions Account Minimum Choose your platform
  • Investors using Chase banking products
  • Mobile traders
  • Retirement savers
$0 $0
1 Minute Review

Chase 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.

  • Easy to navigate
  • Functional mobile app
  • Cash promotion for new accounts
  • No forex or futures trading
  • Limited account types
  • No margin offered
Current Promotion

Get up to $625 when you open and fund a You Invest Trade account

eOption
  • Options traders looking for low-cost options contracts
  • Beginner and advanced traders looking for options education
  • Advanced traders who don’t need a lot of platform guidance
$0 for stocks and ETFs broker assited orders an additional $6 $500 to open an account
1 Minute Review

eOption 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.

  • Unbeatable options contracts pricing
  • Mobile app that mirrors capabilities of desktop app
  • Free and comprehensive options education
  • Confusing platform has limited assistance tools
  • Expensive mutual funds and bond trading
  • Limited stock and general investing education
  • Lackluster customer service options
Current Promotion

Incoming wire transfers of $10,000+ will be reimbursed wire transfer fees up to $30

eTrade
  • Active traders
  • Derivatives traders
  • Retirement savers
$0 $0
1 Minute Review

E*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.

  • Sophisticated trading platforms
  • Wide range of tradable assets
  • Exceptional customer service
  • Limited currency trading
  • Higher margin rates than competitors
  • No paper trading on its standard platform
Current Promotion

Deposit or transfer $5,000 to get $100 back

TD Ameritrade
  • Novice investors
  • Retirement savers
  • Day traders
$0 $6.95 for OTC Stocks $0
1 Minute Review

This 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.

  • World-class trading platforms
  • Detailed research reports and Education Center
  • Assets ranging from stocks and ETFs to derivatives like futures and options
  • Thinkorswim can be overwhelming to inexperienced traders
  • Derivatives trading more costly than some competitors
  • Expensive margin rates
Current Promotion

$600 cash & free trades for 60 days

TradeStation
  • Advanced traders
  • Options and futures traders
  • Active stock traders
$0 $0
1 Minute Review

TradeStation 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.

  • Comprehensive trading platform and professional-grade tools
  • Wide range of tradable securities
  • Fully-operational mobile app
  • Confusing pricing structure to leave new traders with a weak understanding of what they pay
  • Cluttered layout to make navigating TradeStation’s platform more difficult than it should be

Current Promotion

Get $100 when you open an account with $500 or more

Robinhood
  • Beginner traders
  • Mobile traders
$0 per trade $0 to open an account
1 Minute Review

Robinhood 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.

  • Streamlined, easy-to-understand interface
  • Mobile app with full capabilities
  • Can buy and sell cryptocurrency
  • Almost no trading analysis tools available
  • Only taxable brokerage accounts available
  • No option to open a retirement account
  • No access to mutual funds, forex or futures trading
  • Limited customer service
Current Promotion

Refer friends and get FREE stock

Firstrade
  • New traders looking for a simple platform layout
  • Native Chinese speakers seeking research and education tools in Chinese
  • Mobile traders who needs a secure and well-designed app
$0 when you trade stocks, ETFs, options, and mutual funds online $0
1 Minute Review

Easy-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.

  • Simple platform easy enough for even complete novices
  • Quick Bar tool for easy trading throughout the day
  • Free access to Morningstar trading reports and other news in both English and Chinese
  • Secure mobile app with enhanced security and trading features
  • Simple brokerage platform doesn’t include as many charting tools as competitors
  • No access to futures or forex markets
Current Promotion

Get up to $600 when you open and fund an account today!

Interactive Brokers
  • Access to foreign markets
  • Comprehensive mobile app that makes trading simple
  • Wide range of available account types and tradable assets
$0.005 per share minimum $1 and maximum 0.5% of trade value; volume discount available $0
1 Minute Review

Interactive 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.

  • Comprehensive, quick desktop platform
  • Mobile app mirrors full capabilities of desktop version
  • Access to massive range of tradable assets
  • Frustrating and confusing tiered pricing
  • Bloated website that makes finding information a challenge

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 broker

Brokerage 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 Options

Paper 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:

  • They win irresponsibly, believe the market is easy, throw in real money and lose it all.
  • They lose irresponsibly, believe the market is a scam, and never try again.

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 Options

Once 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:

  • Straddle options: These provide equal profit potential on either side of an underlying price movement.
  • Strip options: These are a market neutral bearish strategy and it provides double the profit potential on downward price movement compared to equivalent upward price move.
  • The Greeks: Metrics, including delta, gamma, theta and vega, that advanced options traders use. These are only a few advanced terms; there are so many more that encapsulate all there is to the complex world of trading options.

Learn More About Options Trading

More 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.

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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.
Good luck.

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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..

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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.

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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:
  • BINARIUM
    BINARIUM

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education.
    Free Demo Account.
    Get Your Sign-Up Bonus Now!

  • BINOMO
    BINOMO

    Recommended Only For Experienced Traders!

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