Is It Possible To Make Money With Binary Options?

Even though the binary option industry is booming

, people are questioning it and wondering if it is a scam. While binary brokers have been known to pad the numbers and play a few games with traders, many are still trading them successfully.

Even though the binary option market is not controlled by Wall Street (at least not now - Wall Street does have their eyes on the industry), there are banks, gaming, and other players getting involved.

Binary options trading actually has much higher odds (than other forms of trading) for traders. Statistics show that only five percent of US futures traders make money consistently. Other reports show that on any given day as many as fifty percent (or even higher by some estimates) of a binary options broker's traders have made some money.

Binary options are not yet regulated, so it is almost impossible to have the full picture of what the industry is doing, or how many traders are successful. A few binary brokers will give you the numbers, but most of them are vague or won't give you all the stats.

The best estimates I can give are based upon the traders we have taught over the years. Our in-house surveys, of the hundreds of traders that we have worked with over the years, show that well over the industry average report being successful. Early results of our successful binary options traders have been even higher. Of the ones who answer our requests, well over fifty percent were making money with binary options.

So, what is the secret to making money with binary options? Well, there are no secrets really when it comes to trading anything. You will have to do your homework, but the information is out there. Most people won't go to those lengths and would just rather pay for a course or training. Then, test your strategies before you put real money on the line. You can do the research yourself and no doubt find the binary strategies you need to be successful.

It would be much easier to find a mentor or course that can help you get up-to-speed quickly on binary option trading strategies. If you currently trade forex, futures, stocks, or anything else and have a solid way of analyzing the market, you should be able to use that same analysis to help you trade binary options. It is just that when you pull the trigger on a trade you are buying an option instead of a futures contract or other vehicle.

So, can you make money with these fairly new digital options? YES. They odds may not sound that good to you, but compare them with success rates in other forms of trading.

by: Doug West

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