The hottest trend in finance trading is binary options. The demand is huge for these types of services and in return binary options trading sites have sprang up like weeds to get in on this action. I use the term weeds because that is what the majority of the trading sites are. Weeds. They are not legit, not regulated, not reputable.
I can tell you that the way many binary options trading sites work is by ‘white-labeling‘ an existing trading platform. What this means is that with some new logos, graphics and colors slapped on top of an existing trading platform, an online trading site can open up. They can open up and appear legit. They can boast all of the features and functions of the underlying trading platform that they are white-labeling.
This does not mean that they are reputable, legit or should be trusted. In all seriousness, there are so many shady looking binary trading websites out there that unless you are very careful you are likely to open an account with an un-trustworthy broker who has no intention of ever letting you withdraw your deposit, much less to pay out winnings and profit in your pocket.
Winning Is Hard Enough
It’s hard enough to win a lot of money at the trading binary option sites anyway. Sure it can be claimed a 50/50 chance but in reality it is harder to win than that, and you’ve got to deal with the house edge. Winning trades pay out 70-85%’ish and losing trades from 0-15%. That leaves the house with a 5-10% edge built in on top.
So not only do you have to overcome the house edge by making smart trades, you have to then try and get paid from the broker. If you are at one of the legit binary option trading sites then this is not a problem assuming you have met all the requirements (proper ID, t’s and c’s, cleared any bonuses you accepted, etc). If you are trading at one of the less than legit binary option sites then I wish you luck good sir.
I have been in this industry long enough to hear true horror stories from traders who lost thousands by trading at the non-legit sites. Do not be one of those traders. Find a site you trust and only trade with funds you can totally afford to lose.
The good news is that there are brokers you can trade at that will pay you your winnings, offer fair trades and not mess around with the expiry times. We only list a select few we are comfortable risking our own money at and you can find those from our home page.