GDPR gives companies a new set of rules for sharing data online
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May 25th marks the first day of enforcement for Europe’s General Data Protection Regulation, otherwise known as GDPR, a set of rules that could fundamentally flip the relationship between massive tech companies that gather data, and the users they gather it from.
Not everyone is ready for GDPR, but companies from Google to Slack have been quietly updating their terms, rewriting contracts, and rolling out new personal data tools in preparation for the massive shift in the legal landscape. So far, it’s mostly been a problem for legal departments, but as policy changes and contract fights go public, it’s started affecting the average web user, too.
Still, for many on the internet, GDPR remains a black box of legalese and obscure policy. Here’s what you need to know about it.
What is the GDPR?
The General Data Protection Regulation is a rule passed by the European Union in 2020, setting new rules for how companies manage and share personal data. In theory, the GDPR only applies to EU citizens’ data, but the global nature of the internet means that nearly every online service is affected, and the regulation has already resulted in significant changes for US users as companies scramble to adapt.
Much of the GDPR builds on rules set by earlier EU privacy measures like the Privacy Shield and Data Protection Directive, but it expands on those measures in two crucial ways. First, the GDPR sets a higher bar for obtaining personal data than we’ve ever seen on the internet before. By default, any time a company collects personal data on an EU citizen, it will need explicit and informed consent from that person. Users also need a way to revoke that consent, and they can request all the data a company has from them as a way to verify that consent. It’s a lot stronger than existing requirements, and it explicitly extends to companies based outside the EU. For an industry that’s used to collecting and sharing data with little to no restriction, that means rewriting the rules of how ads are targeted online.
Second, the GDPR’s penalties are severe enough to get the entire industry’s attention. Maximum fines per violation are set at 4 percent of a company’s global turnover (or $20 million, whichever is larger). That’s a lot more than the fines allowed by the Data Protection Directive, and it signals how serious the EU is taking data privacy. Google and Facebook could withstand a fine like that (they have before), but it would be enough to sink a smaller firm. If the new consent rules ask companies to reshape their data policies, the proposed fines give them the motivation to make it happen.
Most importantly, the GDPR gives companies a hard deadline: the new rules go into effect on May 25th, 2020 — so if you’re not following the rules by now, you’re in trouble. The result has been a mad dash to adapt current practices to the new rules and avoid one of those crushing fines.
What’s going to change?
The most visible and immediate changes are coming in Terms of Service and other warnings. The GDPR’s idea of consent requires a lot more than previous regulations, which means companies will be asking permission to collect your data a lot more often. In concrete terms, that means a lot more “click to proceed” boxes, although the transparency requirements mean the text inside may be a little clearer than you’re used to.
There will also be more opportunities to download all the data a company has on you, something companies are already starting to roll out. Services like Google Takeout have existed for a while, and smaller services like Slack are starting to roll out similar options to satisfy the GDPR’s data portability requirements. That helps in two ways: it lets you check what companies are collecting, and it could help unwind platform dominance by letting you transfer data between networks. If you want a way to export your Facebook messages to Ello, the new portability requirements will ensure there’s a way to do it.
The most important changes will be happening behind the scenes. The GDPR also sets rules for how companies share data after it’s been collected, which means companies have to rethink how they approach analytics, logins, and, above all, advertising. A single site could easily have 20 ad-targeting partners, often invisible to the person whose data is being shared. But the GDPR adds complex new requirements for any company that gets user data secondhand, requiring a lot more transparency on what a company is doing with your data. As a result, all of those partners have to be brought into the open, and their contracts have to be rewritten to comply with the GDPR. That means unearthing a notoriously messy system that’s been built on the idea that there’s no cost to sharing data.
Rewriting those contracts isn’t as simple as adding some extra “I Agree” dialogs. There are hard political issues in play, like whether publishers will retain control of their audience data or whether ad networks like Google can piggyback on publishers’ consent forms. When I talked to Shannon Yavorsky, a lawyer who has been following the GDPR requirements at Venable, she said clients were particularly stymied by the question of who would be liable if data was breached from a sharing partner. “I get asked all the time, what’s the market standard?” Yavorsky says. “We just don’t know. There haven’t been any penalties, so we don’t know what the enforcement is going to look like.” There’s no obvious fix to any of those issues, and the underlying disagreements will rage on long beyond the May deadline.
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Will this actually make online data collection less creepy and invasive?
It’s too early to say. We know roughly what compliance looks like, but we still don’t know what enforcement will look like or how aggressive the EU regulators will be. The simplest takeaway is that breaches will get a lot more costly, and that cost will be spread a lot further through the network. It will get more expensive to share user data, and sites will probably try to make do with fewer partners, which would certainly be a win from a privacy perspective. Regulations like this tend to hit small companies the hardest, so the GDPR might also tip the scales even further toward big players like Google and Facebook, even as the overall pool of data shrinks.
The rule could also create a divide between the European Union and the rest of the internet. So far, most companies have aimed for a single set of privacy rules for all users, which is why so many US users are noticing new privacy features and terms of service. But in many cases, it’s still easier to split off EU data, which could result in European users seeing a meaningfully different internet from the rest of the world.
On the other hand, it would be hard to make data collection more creepy at this point. So much of the internet is based on the free exchange of user data, especially the gnarly hairball that is the targeted advertising industry. That has real political consequences: the NSA can use the same system to track users across the web, and political firms like Cambridge Analytica can use it to quietly single out particular subgroups. We’ve spent the last 15 years thinking of lucrative things to do with that data, on the assumption that it would always be freely shareable. The GDPR is starting to roll it back, but the most profound changes will take years to play out, potentially reshaping the web as we know it.
Update May 25th, 9:49AM ET:This story has been updated to reflect the launch of GDPR.
Regulated Binary Options Brokers: Complete Guide
What are Regulated Binary Options Brokers? Why Choose Regulated Binary Options Brokers? Top 3 Best Regulated Binary Options Brokers
What are Regulated Binary Options Brokers?
The chances are that if you are looking to understand what regulated binary brokers are, you probably already understand a few about binary options brokers. For the sake of those who stumbled upon this article, and have never heard about binary options trading before, here is a quick explanation.
Binary options trading is a form of online trading, where you can only lose your whole investment or profit with a predetermined margin. Conventional stocks or forex trading usually involve fluctuating values. You can never tell how much you will profit or lose until the trade is over. Binary options brokers are the enablers of this trader. They make the trading assets available for you to trade.
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My Recommended Regulated Brokers
Min Deposit ($)
Min Stake ($)
Max Payout (%)
Back to regulated binary options brokers. There are many binary options brokers operating in different countries around the world. The brokers handle their clients’ funds, and hundreds or thousands of transactions. A lot of funds exchange hands within these platforms. Such circumstances require the parties involved, especially the brokers to be of high discipline. So, who regulates binary options brokers? In a bid to avoid dubious undertakings and scams, there are regulatory bodies in various countries that govern the operations of binary options brokers. Regulated binary options brokers are those brokers under the regulation of such authorities depending on the countries in which they operate. We compiled one of the best regulated binary options brokers reviews. This guide aims at leading you to the best regulated binary options brokers.
Different countries have different laws and regulations concerning binary options trading. Some countries even allow unregulated binary options brokers to operate. It is always advisable to trade with regulated binary options brokers. We will expound more on why you should only trade with regulated binary options brokers. Below is a list of countries where most of the binary options brokers available operate from;
Each country has a different set of regulations concerning binary trading. Among the most respected countries regarding binary options trading regulations are the USA, the UK, and Cyprus. Let’s take a quick look at the regulatory bodies in these countries.
Cyprus boasts of binary options traders that have the largest numbers of subscribers. Their laws and regulations are a bit flexible, and they allow many people from different countries around the world to trade on these platforms. Their regulations are quite effective too. Cyprus has some of the most trustworthy binary options traders in the worlds.
Cyprus was the first country to recognize binary options as a financial instrument, allowing many brokerage firms to sprout. CySec (Cyprus Securities and Exchange Commission) is Cyprus’s body that regulates the firms operating in Cyprus. It is a respected regulation authority around the world. CySec laws and regulations are aligned to those of the EU allowing many traders from all over Europe to get involved. The laws and regulations are quite different from those in the USA though! This makes it difficult for USA residents to engage on brokerage platforms from Cyprus. A majority of the binary options brokers from Cyprus, if not all, do not admit traders from the US. Brokerage firms can still operate in Cyprus with licensing from CySec. However, clients will always prefer a regulated binary options broker.
The USA has the strictest laws and regulations as far as binary options trading is concerned. In fact, very few binary options brokers from overseas can afford to engage traders who are residents in the USA. Binary options trading is part of the US Financial markets and is under the regulations of CFTC (Commodity Features Trading Commission) and the U.S SEC. (Securities exchange commissions). These bodies are mandated with licensing binary options brokers in the US. Many of the binary options traders operating in the US are based in the US. The regulatory bodies insist on being able to monitor and audit their operations constantly.
Majority of the offshore binary options brokers that operate in the US are from the UK. USA’s regulatory bodies have the means to monitor the binary options brokers in the UK. Brokers operating in the USA are seen as the most secure and reliable binary trading brokers.
The UK takes pride in being the source of binary options brokers. Many of the first binary options brokerage companies were started in the UK in the early 1990s. UK’s laws and regulations concerning binary options trading have been quite different from those in other countries for some time. The UK has for long allowed free interaction between its residents and binary options brokers. The regulations have since changed though. Just like in the USA, the UK laws and regulations have become strict, and brokerage firms are required to be licensed and regulated by the FCA (Financial Conduct Authority). The authority also constantly monitors and audits the brokerage firms.
The similarity in the UK’s laws and regulations on binary options trading and those in the USA has made it fairly easy for UK’s brokerage firms to admit USA’s resident traders. UK’s brokerage firms are currently some of the most respected around the world. They also command a good share of the market. They admit clients from many countries around the world. Brokerage firms also subscribe to the regulations of authorities in other countries, so that they can be attractive to traders in that country.
So, why is it important to have the binary brokers regulated? Why do countries such as the UK and USA have strict regulations concerning binary options brokers? Why is important that you trade only with regulated binary options brokers? Let’s find solutions to these queries.
Why Choose Regulated Binary Options Brokers?
The main reason why you should only choose regulated binary options brokers is so that you don’t get duped. Whenever you fund an account on a binary options broker’s platform, you are entrusting them to handle your money for you. Therefore, it is important that there are watchdog authorities that ensure the brokers handle your money right. Let’s get into the nitty-gritty of how binary options brokers handle trader’s money, and how the regulation authorities protect you from getting scammed.
My Recommended Regulated Brokers
Min Deposit ($)
Min Stake ($)
Max Payout (%)
Binary Option Brokers Operations
The reason binary options brokers are in operation is that many people do not have the capital to trade in the stock or forex markets directly. They give traders with small amounts of capital access to the markets.
They combine identical trades from different traders (since only binary options are involved there is a bulk of identical trades) and the amounts stakes and put execute the trade on the main market. They, therefore, trade on the main market on your behalf. You need to be sure that they will put up your trade the way you put it, and they will use your money for exactly that purpose.
The other form of engagement is where the binary options brokers buy the binary options from the main market, and you buy the options from them in turn. In both instances, the flow of funds is similar.
So why should you have confidence in the fact the binary options traders are regulated? How does the regulation protect you?
First, a regulated binary options broker indicates that the broker has the best interests of the traders. It indicates that they want you to profit from the trade. It is important to note that binary options traders can profit in both ways. They can profit if you lose or win.
Regulated brokers have to keep their client’s assets independent of their company’s assets. They cannot use your assets to trade on the market if you have not initiated any trade. This means whatever happens to the company, the trader’s money remains intact.
For the binary options to be licensed by the regulatory bodies, they need to show proof and guarantee that they have the adequate financial capital needed to run their trading operations smoothly. The trades you make, start immediately you confirm. The broker, therefore, needs to have enough funds ready to cater to the clients on their platform.
Governments across the world are beginning to appreciate the binary options trading is a legitimate investment channel. They also know it is very easy for traders to be duped. There are two main reasons why government authorities are choosing to regulated binary trading brokers.
One, as already mentioned, need to ensure that clients are offered legitimate services by the brokers, and the brokers handle client’s money responsibly.
As with any other investments, there are profits and losses. You all know the government wants tax everywhere there is any profit. The regulation allows the government to cash in on the profits made, more so by the binary options brokers.
At this juncture, it should be pretty clear to you why you should only go for regulated binary options brokers. You are always at your own discretion to choose whichever broker you want to work with. You will lose nothing by choosing a regulated broker though. Also, note that there are binary options brokers that claim to be regulated in weird jurisdictions. Some of these jurisdictions have no proper systems in place to regulate the brokers. The most reputable and trustworthy jurisdictions are those from the countries mentioned above. It is prudent to stay away from binary options brokers claiming to be regulated by jurisdictions that have a history of money laundering, and tax evasion havens.
So, you have finally decided that you need to trade with a regulated binary options broker. Right?
If you follow the guidelines above, you will find a lot of available brokers. You will most likely be left confused concerning the broker you should choose. Apart from regulation, there are a few other factors you should consider before settling on any binary options broker.
Maximum payouts – different brokers offer different profit percentages when you win a trade. Higher percentages are always attractive. However, take time to explore other services offered by the broker. Some brokers will have low payout percentages but will offer you great resources that can help you win trades.
Minimum deposit – different brokers require different amounts of initial deposit to issue you with an account. Obviously, you can only work with the broker whose minimum deposit you can meet.
Below are three reputable binary options brokers that you could consider trading with.
Best Regulated Binary Options Brokers
You will find a long binary options brokers list if you go searching for some. Which binary options brokers are regulated? Which ones are trusted binary options brokers? There are many different binary option regulators that control trustworthy brokers. You could go for binary options brokers regulated by asic or binary options brokers regulated by cftc. binary options brokers who are regulated with the cftc are usually those looking to operate in the US. We shall look at binary options brokers regulated by cysec and binary options brokers regulated by fca since they are the most popular currently.
My Recommended Regulated Brokers
Min Deposit ($)
Min Stake ($)
Max Payout (%)
IQ Option is one of the best, if not the best, binary options brokers. The Seychelles-based broker operates under the regulation of CySec. As we have already established CySec is also a reputable and respected regulation authority. IQ Option was launched in 2020 and has seen consistent growth since then. Consistent growth in an indication of satisfied traders and high winning rate. IQ Option has over 25 million subscribers as at now.
IQ Option trading platform offers you up to 77 assets to trade with. They offer three types of accounts on their platform. The accounts are;
DEMO account- this is a virtual account that is offered to a new member on the platform so that they can learn how to trade. Binary options trading is available to everyone. It is prudent to start here if you have no idea about what binary trading is.
REAL account – This account gives you access to the real market. The account attracts a minimum deposit of $10. The account offers a cash back option of up to 45% too. You also have access to the web brokers trading competitions. A deposit of $100 and above will earn you free trading signals, and you also get access to more trading opportunities.
VIP account – this account attracts a minimum deposit of $3000. The account offers you unlimited access to trading opportunities. IQ Option will also give you a dedicated account manager and trading insights from their resident analyst. The account also offers refunds of up to 60% when you make wrong predictions.
The minimum deposit on IQ Option is $10 for a real account or $3000 for a premium account
The minimum investment is $1
The maximum returns are 95% profit on your stake
IQ Option offers no bonuses.
IQ Option operates a proprietary web, and Android and iPhone platforms
IQ Option is recognized by many players as one of the best binary options brokers 2020. It is also one of the best binary options brokers with low minimum deposit, and one the best binary options brokers regulated by CySec.
Raceoption is a UK-based binary options broker. It is subject to the laws and regulations of the FCA (Financial Conduct Authority). UK regulations have gotten tighter in recent years. Raceoption has stood out as one of the most compliant binary options brokers. The company has managed to get itself in the USA market too. That’s a strong point for any binary options broker. Raceoption has been operating since 2020 and has 1570 subscribers as of now. It boasts of average trader earnings of 1217 per month.
Raceoption offers you over 100 assets to trade with. They offer three types of trading accounts too. The trading accounts are.
Bronze account- this trading account attracts a minimum deposit of $250. The account’s privileges include; demo account, copy trading tool, 1-hour withdrawal, 24/7 live support, and a bonus of 20%.
Silver account – this trading account attracts a minimum deposit of $1000. The account comes with all the privileges in the bronze account plus a master class training, up to 50% in bonuses, a dedicated account manager, and first three risk-free trades.
Gold account – this account attracts a minimum deposit of $3000. The account comes with all the privileges of the silver account plus, up to 100% in bonuses and integrated technical analysis.
Raceoption has one of the best binary trading sites. The sites are user-friendly and very responsive. Raceoption is one of the best binary options brokers regulated by FCA. It is one of the best binary options brokers uk. It is also one of the best us regulated binary options brokers.
Raceoption offers up to 90% profit on the stake in payoffs.
Binarymate is yet another reputable UK-based binary options trader. It is also under the regulation of the FCA (Financial Conduct Authority). It is also regulated and licensed by CySec. Binarymate is another one of the few binary options brokers that admit US traders. Binarymate is a recent entrant into the binary options scene. It has managed to gather 5372 subscribers in a short while. Binarymate is best binary options brokers for beginners. It offers a wide array of educational resources to help you learn.
Binarymate offers over 100 assets for you to trade with. They offer three types of trading accounts too. The trading accounts are;
Bronze- this account attracts a minimum deposit of $250. You are also offered up to 20% bonus on your deposit.
Silver- this account attracts a minimum deposit of $1000. You are offered up to 50% bonus on your deposit.
Gold- this is the ultimate trading account on Binarymate. It attracts a minimum deposit of $3000. The account offers you either a bonus of $250 or risk-free trades.
You can choose to start with a demo account if you are a green beginner. You might not want to invest your money before you have learned the ropes of engaging on the Binarymate platform. Below are a few advantages to the Binarymate platform.
Steller customer support 24/7 live video chat support
1-hour withdrawals processing time
Secure trading, and ample data protection
Binarymate pays maximum returns of up to 90% profit on the stake. The broker allows US traders on its platform. It is one of the best binary options brokers us.
These are three legit binary option brokers that you can choose to trade with. Other binary trading reviews will suggest different brokers depending on their findings. Trading binary option 2020 is one of the ways of making money online in 2020. It is not straightforward or easy though.
The Truth About Binary Options: #11 Facts
#1 Avoid Unlicensed Binary Options Brokers
Why are unlicensed binary options brokers dangerous? Although officially outside EU/USA it’s not required for a binary options broker to be licensed, it is very much recommended to trade with a licensed broker. Some traders and many governments doesn’t care if a broker is licensed or not and they treat all them the same way, as if license doesn’t provide any advantage or goodwill. Actually, it does.
There are a few advantages for a trader. First, you have a chance to complain if you face any kind of fraud, like delay of payments, blocked account or manipulation of market data. CySEC has fined many brokers and the fines were not nominal. Second, a licensed broker cares of his reputation, because when a fine happens, this is a huge news in the industry and competitors will be happy to make such case as loud as possible. So in many conflicts you will be able actually to negotiate effectively, just telling the broker, you can go all the way to the regulator.
CySEC, based in Cyprus, is the most widely used regulator and it is also very reachable and active, but there are others, who work with binary options brokers, like UK’s FSA, BaFin from Germany, Spanish CNMV, Indian SEBI, – all good.
Only make sure, that the broker’s license is currently valid, as in some cases brokers were deprived of licenses due to various wrongdoings, or have abandoned regulators voluntarily.
#2 More Than 50% of Traders Lose Their Deposit on the First Day of Trading
How not to lose your deposit on the first day of trading? Unfortunately, it’s a common situation. A person comes to binary options or to forex trading or to any market all and loses all the money he has got to trade during the very first day. So how to avoid this? The strategy is very easy – don’t use the whole of your deposit during the first day.
The first day of trade is your first test. Can you stay cool, can you keep your head cold, can you limit yourself and keep your trading within firm borders of 10 – 20% of the deposit. If you can, you can be a successful trader.
Control your emotions, control your behavior, stick to your strategy,- those are the main qualities of good traders. Knowing how to use the charts and trading tools is secondary.
You will master the market if you can master yourself.
#3 Shady Brokers Will Try To Convince You To Keep The Money (Until You Lose Them)
How to withdraw large earnings from binary options brokers? So, you made it and you have earned thousands, or even tens of thousands dollars on binary options! Congratulations, but it will not be a complete feeling, until you don’t have a significant sum in your pocket. And here are a few moments you should know about withdrawing lots of money form binary options broker.
First, a broker will try to convince you to keep the money. Of course, brokers are not really used to deal with winners, only as little as 1-10% of traders win and withdraw significant money. But they have strategies to make the numbers of withdrawals less. They will offer you huge bonuses, a personal manager, risk free trade, secret strategies,- everything to keep you trading, trading big, risking and eventually making a mistake. Don’t succumb. If you have in mind a certain amount of money you want to withdraw, stay cool and stand firm. Get your hard earn profit, celebrate, and then risk with the remaining bank.
Second, there are limits. In all the advertising brokers promise 1 hour withdrawal and usually it works with small sums. But deep inside terms and conditions you will find, that a broker actually can be very slow in sending your money, they can start a very slow so-called “confirmation” process, and sometimes it will take months to get your winnings in full, particularly with small brokers.
So trade with a large licensed broker (like IQ Option, Binary.com or Olymp Trade) and have a clear strategy – how much money you are ready to keep and don’t let any “exclusive” offers shake that.
#4 What Are The Three Worst Mistakes Of A Beginning Trader?
First of the worst mistakes is trading on a very short timeframe, when you can’t predict anything and rely on fortuity, not on calculation.
Second, lack of risk management. You must know and control your risks. Don’t do too many deals in a short period, or don’t bet on vey “costly” deals when you use too much of your deposit. Those are the ways to lose everything, in case of mistakes it will be pointless even to analyze them, because you will have no money to strike back and use the experience you always gain from your losses.
Third, choosing the wrong broker. You can be a genius or you can learn to be a very good trader and make lots of profits, but if you choose the wrong broker, you will be cheated and the broker simply will not pay you. So always choose a licensed broker with good reputation.
#5 What Is The Main Quality Of A Successful Trader?
Self-control is the main quality of any successful trader, you will not find a really successful trader who makes rush decisions and keeps braking the borders of his strategy.
You need to set the limits, how much you can afford to lose, how much you are ready to spend on one deal, how much risk you are ready to afford in your strategy,- and stay within those limits.
Before each deal you need a clear idea, why are you doing this and why it will work, if you are mistaken – recognize this, take time to analyze, make new strategy and keep going.
Remember, you need to limit yourself both in situations of losses and high wins, so that you will not lose too much in one case, and leave the game as planned, taking the profits in another case.
#6 How To Double The Amount Of Successful Deals?
The answer is – make less mistakes in your trading. How to do it? Trade on longer timeframes.
Why longer timeframes are better? You will have more time to analyze the situation and make a decision on whether to make a deal or not. The more time you have to decide, the less mistakes you make.
By the way, if you choose not the first class broker, shorter timeframes are even more dangerous, because lots of frauds and cheating on the broker side are carried out with traders, who choose shortest timeframes.
Reduce the amount of your deals, increase the time between your deals – and you will lower your risks and raise your profits.
#7 Why 99% Of Trading Systems Don’t Work?
Lots of brokers offer trading systems to their clients nowadays, as well as other parties on the market, like financial consultants and various market gurus.
There are two reason why most of those systems don’t work.
First, those ideas may have been brilliant at first. But any successful strategy, when it is promoted and offered for copying by many traders, eventually simply stops working.
Second, some strategies are actually designed to work against you, those are the strategies offered by brokers. Yes, you may benefit from them for some time, but in the end the broker wants you to lose and you will lose if keeps working within the inflicted strategy.
The only strategy that works is your own strategy, when you choose the required risk tolerance, trading instruments that you understand, and timeframes that are not too short.
#8 What Are The Three Common Delusions About Binary Options?
People see the high profits of binary options trading and lose sight of high risks. Risks and profits are interrelated, if there’s a chance to win a lot, there’s a high chance to lose everything.
People want instant success. With binary options you can earn quick money, yes, but this will not last. If you are a beginning trader, who instantly wins, you will probably experience losses very soon. Be ready for a long game and, lots of high and lows and keep control of your emotions in good times and in bad times.
Easy money – people think binary options trading is a very easy thing, but it’s not. You will have to learn to be a successful trader, and you will have to pay for that education – with your nerves and with your money.
#9 Is It Possible To Become A Millionaire By Trading Binary Options?
Many people ask the same question: How to make millions by trading binary options? First, there are no credibly cases of millionaire traders, who made fortune on binary options. A more realistic strategy to earn millions, is start with binary options and forex, build small fortune and move on to other markets, where you can earn millions.
There are two things to consider, if you want to make millions with your trading.
First, you can’t just come to the market and become a millionaire immediately, the secret of millionaire traders – they all have vast experience, that helped them to create a unique trading strategy, backed by some brilliant ideas. To have a brilliant idea, that will be a base for a winning strategy, you’ll need to have lot’s of ideas. And that means test lots of ideas and lots of strategy, losing and winning on the way.
So as a beginner you should be ready for a long game.
Second, how much money you make depends on how much you can put in to start with, and to earn millions you’ll have to put in hundreds of thousands. But for hundreds of thousands binary options market is simply not safe enough.
#10 Why You Shouldn’t Trust Your Binary Options Broker?
Whatever your binary options brokers tells in his advertising, he makes profits only when the traders lose, so he is not interested in your success.
Of course, it doesn’t mean that you can only lose. On the one hand, there’s regulation, and good binary options brokers are accountable, on the other hand, there’s competition, and brokers value their reputation and don’t want scandals.
But you should be ready, that even the best brokers will want to cheat you.
First, some brokers offer you managers, that give trading advice, to some extend that advice could be helpful at the beginning, but the broker will not want you to end up with huge winnings, so on later stages advice will be misleading.
Second, the brokers will try to convince you to trade more and to take more and more risks. They will offer exclusive conditions, only to keep you trading. Don’t listen, have your own limits and take out money when you win.
#11 Do You Read Terms And Conditions?
In any industry terms and conditions will contain surprises, that will go against what you see in advertising or what sales people tell you.
In binary options there are several things to consider, so make sure you read terms and conditions before you choose the right broker.
First, some brokers will charge you with 2-5% of the money you want to withdraw, sometimes there’s even a minimum limit of this charge, 10-30 USD (but no maximum limit), so if you withdraw 50 dollars of winning, your broker will want to keep 30 of them. This is not because a broker wants that 30 dollars badly, this is because a broker wants you to keep going, keep trading. So in such case just understand, that your broker charges this money and withdraw your winnings anyway, if such was your strategy.
Second, your broker may have the right to keep your money if they are not satisfied with your documents, officially it is said to be targeted against money laundering. But in fact it is often used to keep the money of hugely successful traders. Your broker doesn’t reject your withdrawal, it just puts it on hold and keeps asking for more and more documents, that may last forever. So trade with a licensed broker, in this case you will have an option to complain.
Finally, there are commissions, and with commissions you can do nothing. Some brokers charge commission if your trading account was inactive for 60 days, some – charge several dollars every month from every trader, others charge commissions on your winning. For this you just need to be aware of.
Everything You Need to Know About 60 Seconds Binary Options
Binary options “60 seconds” are very popular among traders, as allow you to make a profit in just a minute. What else do you need to know about these options?
Binary options trading has long been deservedly popular with traders, allowing you to get up to 85% of profit in a matter of minutes. One of the most sought after tools is binary options “60 seconds”. Someone considers them very risky, someone is ready to take such risks in exchange for high profits.
To decide whether to trade “60 seconds” binary options, you need to know their features, advantages and disadvantages.
Benefits of 60 Seconds Binary Options
Short expiration option. The trader gets the opportunity to almost double the money invested in just 1 minute.
The absence of a pronounced reaction to the fundamental background. An exception is the short time interval during the release of very important news.
Lack of reference to the current trend. For profit, both trend and counter-trend trading are suitable.
Ability to trade a minimum option volume. Given the long expiration periods of binary options, getting 85% of the profit from the invested dollar is a so-so prospect. Therefore, the trader is forced to buy the option in bulk. When using such a binary option, you can use the minimum volume, and the profit will be provided by the number of transactions.
The impossibility of practical forecasting. One minute is a too short time interval for forecasting the price movement within any of the analysis methods.
High trading risks. The increased risk of 60 second binary options is due to two factors: short expiration time and high asset volatility.
Despite the fact that the number of disadvantages is less than advantages, they are quite large-scale and have a huge impact on trading results.
Features of trading binary options “60 seconds”
From a technical point of view, trading “60 seconds” binary options is no different from the classic BO trading. However, the very short expiration period introduces certain features that the trader needs to know in the trading process.
For ultra-short binary options, currency pairs are best suited as they are the most predictable asset.
Due to surges in volatility at the time of the release of important news and macro statistics, it is better to refrain from trading in the interval of ± 5 minutes.
Despite the difficulties in predicting BO “60 seconds”, do not neglect the technical analysis. Each transaction should have a technical justification, and not just open.
The best strategy for such binaries is a strong deviation of the asset price from the average, because the market always seeks to return to it.
Binary options “60 seconds” have increased risks. Therefore, you should not do them even more using the Martingale method.
The lull in the market, corrections and flats is not the most suitable period for trading turbo options. For “60 seconds” options, periods of increased volatility are optimal.
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