Martin Simons, Author at Binary Options Trading Review

Best Binary Options Brokers 2020:
  • Binarium

    1st Place! Best Binary Broker 2020!
    Best Choice for Beginners — Free Education + Free Demo Acc!
    Sign-up and Get Big Bonus:

  • Binomo

    2nd place! Good choice!

24option Scam Test

If you’re somebody completely new to the whole concept of online trading, one of the first questions you are likely to ask yourself is the one about the safety of such transactions. We are here to show you that there is nothing to worry about, as long as you pick a legitimate broker. 24option is certainly one of those and you will be able to read in the rest of this article what we found out when we tested their security system. For now, let’s just say that they have been around since 2020, which means they have a lot of experience. They wouldn’t be at the very top of this industry if their methods weren’t 100% reliable, as we hope to prove in this 24option scam test. Stick with us for more info.

24option Scam Test | Safety

First of all, you should know that 24option is a CySEC regulated broker, which means that it was licensed by the European Union to conduct business in its every state-member. To get this permission, some very strict criteria had to be met, but the story doesn’t end there because the EU constantly monitors this kind of trading, so the brokers always have to be on their toes, meaning 24option scam rumors are unfounded.
As for the technology, 24option uses SSL protection with thawte and ClickSSL, which is above the safety standards of the industry, as stated in our 24option Review 2020. This means that all your personal data are encoded electronically and very well protected so that nobody besides yourself has access to your account.
One other thing worth mentioning when it comes to safety is the fact that you will have to verify your identity prior to withdrawing any funds from your account. This is a sign of a legitimate broker because all real brokers require you to go through this process. As explained in our 24option Withdrawal Review, you will have to send in a copy of some form of your ID with a picture on it, something that confirms your address (like a utility bill) and a copy of your credit card (with only the last four digits visible) if you decide to withdraw money using that particular method. These security methods leave no place for 24option false rumors, but stay with us a bit longer for more info.

24option Scam Test | Payments

When you decide to deposit money, don’t forget that this broker has a special policy which says that all withdrawals will be processed to the original source of funds. The traders really have a lot of possibilities for doing this and this abundance of choice is something 24option became very famous for. You have your standard bank wire transfers, Skrill for electronic payments, as well as PayPal, Neteller and several other options. Add to that Visa, MasterCard and Discover credit cards and everyone will be able to find an option that suits them, making this broker completely safe in our 24option scam test.
The withdrawals have some fees associated with them, but they differ from method to method. They can be completely free, depending on the type of account you have and some methods even have no minimum amount required. We should also mention here that you can choose one of three different options as your currency – EUR, GBP and JPY – but be careful because you can’t change your choice once you open your account.
We have tested all available methods thoroughly and experienced no problems, whatsoever. Our invested amounts were visible in our accounts as soon as possible (it takes a while for this if you deposit via bank transfer) and the withdrawals were delivered to us exactly as promised, meaning that 24option scam rumors are completely false regarding deposit and withdrawal.

24option Scam Test | Trading platform

It is not unheard of that a fake broker tries to manipulate the trading platform in order to provide traders with fake information or that the expiration of a trade is late so that a trader can end up out of the money. Fortunately, this is absolutely not the case in this 24option scam test, because their trading platform uses only the latest and most reliable technology which enables you to receive information as soon as something happens. The prices are accurate, we have checked multiple times, and everything functions just as it’s supposed to, so we have absolutely zero 24option complaints about it. There are over 300 available assets for you to choose from (commodities, currencies, stocks and indices) and a lot of them are very well known (Vodafone, Apple, Google…) so you can check everything about them and see for yourself that the prices are correct, and you can also get verified 24option Signals that help you estimate the future market fluctuations. Only a perfectly legit broker would do that.

24option Trading Platform

24option Scam Test | Support

All the people from the support team who talked to us seem very competent at what they do. Our questions were answered immediately and in a very knowledgeable manner. We have found that a lot of other traders have some very good experiences with this team, as well, because all of their problems were solved very quickly. Some very skilled people run the webinars in the 24option education center and you can really learn a lot if you sign up for one of those. Generally, the center has a lot of materials, is very well designed and the webinars only serve as the icing on the cake because they allow you to implement what you have previously learned. In any case, the people working as members of 24option staff will be there for you when you need them with good advice and immediate help, meaning that 24option scam rumors about their customer support are completely false.

24option Education Center

24option Scam Test | Conclusion

To conclude our 24option scam test, this is one of the leading online brokers in the world and it is certain that they wouldn’t have made it that far if they were anything else but a reliable and legitimate broker. Five years is a lot of time which has been used in the best possible way by this company to build a support system unmatched by any other broker. They were recognized by the EU through thanks to the CySEC license, so you can be sure of their seriousness and commitment.
24option implements the very latest and most secure technology to conduct business with its clients. They do their best to provide these people with the best trading experience possible and, judging by the reputation they have and the fact they are one of the global leaders in this business, are doing a pretty good job. As seen in this 24option scam test, this broker also has a great support team to assist their clients at any time so the company’s success should come as no surprise. If you have any doubts about how safe this kind of trading really is, this broker is the one which will put your mind at ease.

Top 5 US Binary Options Brokers – January 2020

We’ve tested the most trusted USA binary options platforms, and below you can find a comparison table with the results.

Best International Binary Options Brokers


# Broker Max.Bonus Rating Description Min.Deposit Max. Payout US Clients Site
1. RACEOPTION.COM $250 Bonus 4.9 Top Broker
$250 Bonus
Fast Withdrawal
Trade Bitcoin
$250 90% Yes. VISIT RACEOPTION Read Review
2. 3 Risk Free Trades + Bonus 4.8 Fast Withdrawal
Trade Bitcoin
Risk Free Trades
0.10$ Min.Trade
$250 90% Yes. VISIT BINARYCENT Read Review

Best Binary Options Brokers 2020:
  • Binarium

    1st Place! Best Binary Broker 2020!
    Best Choice for Beginners — Free Education + Free Demo Acc!
    Sign-up and Get Big Bonus:

  • Binomo

    2nd place! Good choice!


100% + $250 Welcome Bonus 4.7 Revolutionary Platform.
Up 95% Payout.
24/7 Video Chat.
Quick Withdrawal.
Demo Account.

Best US Regulated Binary Options Exchange

Exchange Promotion Rating Min.Deposit Max. Payout Regulation Open Account
Free Education 5.0 $250 100% Yes ( CFTC ) VISIT SITE Review

It might be surprising to someone that online financial trading in the USA is rather hazy. The role of two licensing and regulating bodies, viz., Commodity Futures Trading Commission (CFTC) and the National Future Association (NFA) has been rather passive. No fret… You need not be despondent on this count. There are some reputed offshore binary platforms to cater to the customers residing in the US. You can depend on the binary options brokers, which are safe and secure, as well as maintain the requisite standards. Let us have some insight into the binary options trading.

Best Binary Brokers

  • Binarycent

If you are looking for binary options brokers rendering a hassle-free service, probably, the Binarycent is one of them, though any financial authority does not regulate them. However, with a very impressive deposit bonus and trades from 10 cents, they offer services to the US traders. Their website is accessible not only on a desktop or on the laptop but also through a portable device powered by either Android or iOS. This is a very convenient option for those who travel extensively to get updates through pocket-friendly devices.

This broker launched in the year 2020 is a relative newcomer in the binary options industry. RaceOptions accepts the customers from all over the globe including the US customers. A customer can trade-on over 150 assets and the choice of currency to trade includes USD, EUR, GBP, and RUB. The brokering company also assigns high priority for the customer service.

Best Binary Options Exchange

North American Derivatives Exchange (Nadex) established in the year 2009 is the US-based exchange, which is a subsidiary of IG Group Holdings Plc. Nadex, regulated by the CFTC is also one of the most trusted brokers among the US traders. The simple to use trading tools also offer advanced tools for the needy traders. Moreover, you can access educational material on the Nadex learning center. You can also try their demo account on the desktop or portable devices.

Tips for Selection of Broker

Of course, the first thing a customer does is to Google the best binary options brokers and find out the services, their reputation besides the customer reviews. You can also browse some third-party websites for an impartial review. A customer may also keep the following tips in view before short-listing the binary options brokers.

Though not mandatory to test the demo account, it is a requirement to test for a while to ensure how consistent it is in maintaining the profitability. An offer of a demo account also ensures that the broker desire profitability as well as yearns a long-term relationship with the customer. Thus, it proves that the broker cares for the success of a customer on a long-term basis. In case there is no demo account, probably, the broker is looking for a short-term gain, which is a disadvantage to the potential customers.

Anyway, the broker offers you a trading service for which he is in the business. What you should look for obviously is beyond the routine service – what more value-addition service he renders to the customers. The basic platform might offer you a couple of trades. However, an honest and genuine broker should offer you other features such as double up, roll over, early close or any such trading tools. It is also a good idea to look for a broker offering you the educational resources on the subject.

You should aim for a broker who arranges webinars, video tutorials, or one-to-one training sessions explaining the strategies of trading. The FAQ and trading alerts would also be an added advantage for a customer.

No doubt, the customer service is very crucial in any service industry. You should not be carried away only with the website or tools of the binary options broker. You can try a conversation with the customer service team to find out how the service is. A few questions on the subject would reveal how proficient the manager is in answering your queries. Moreover, you can judge whether he is customer-friendly while replying to you. Probably, sometimes, the service representative tries to convince you to be their customer without answering your query.

The next significant pain point is the terms and conditions of a broker. In spite of all the positive features, in case the conditions of a trade are not favorable, probably you are inviting trouble for yourself.

Sometimes, a customer takes for granted the terms and conditions in the process of completing the formalities to hasten the trading activity. The unfair and unfavorable conditions could be a reason for your subsequent losses in the transactions.

It is always advisable to go through the FAQ and fine print of the conditions for each of the feature. Do not affix your signature on the dotted line without reading between the lines.

The reputation of the binary options brokers the USA plays a vital role especially when the regulatory stipulations are very fluid. In the absence of a strong regulatory authority, the onus is exclusively on you as a customer. Even if someone is regulated, the entity might be only for private banking services, or some business entity. Since there is a host of brokers in the trading market, you should check out for the reputed broker offering secured and safe trading platform. With the technology at your fingertips, the review of any broker is only a few clicks away. You can take a few minutes in browsing the information on the reputation and feedback from the customers’ review.

The points of consideration could be multi-platform accessibility like the mobile-friendly websites, multi-currency options and a company offering you a wide range of banking solutions free of charge. These are not a very high expectation of a customer. In the present day situation, accessing through a portable device is almost a necessity for a trader, and the option to trade in the currency of different countries. If you are keen on some specific asset, make sure that the asset is tradable with a broker you are contemplating.

Indicator Bullshit: Do You Really Think All of the Indicators Will Help You Win?

We are repeatedly asked: Which is better: MACD or Bollinger Bands? Which is more profitable: ADX or Williams %R?

And we repeatedly answer: None of them. Technical indicators are simply small components of an overall trading system, and not systems in and of themselves. They are like a couple of tools in a tool kit, not the kit itself. A technical indicator accounts for typically 10% of the overall trading success of a trend following system. Comments such as: I tried Indicator X and found it was worthless or I tried Indicator Y and found it useful, make no sense. These statements imply that an indicator is the actual trading system. Nothing could be farther from the truth.

Many popular financial web sites (i.e. CBS MarketWatch, etc.) and many trading books have popularized the idea of technical indicators as Holy Grails. Keep in mind, when you hear the hype about indicators, money management actually makes up the bulk of a winning trading system.

No Predictions

Trend following is not based on support and resistance lines or areas of congestion. Trend following is not based on Fibonacci numbers, the golden mean, nor is it related to the works of Gann or Elliott. The following predictive indicators are not used in trend following:

  • No Bollinger bands
  • No RSI
  • No MACD
  • No OBV
  • No stochastics
  • No ROC
  • No Williams %R
  • No P/E ratios
  • No momentum
  • No Advance/Decline lines, etc.
  • More

These indicators are all designed to predict what a market will do. You can discount all indicators designed to predict a market move. They are not, by themselves, a predictive trading system. Technical indicators are only useful as part of a complete reactive trading system.trend following uses a straightforward, reactive, technical indicator as part of an overall-trading plan. The only true method for trading is a long term trend following system that reacts to the market.

Don’t fixate on the technical indicator used in any trend following system. It’s important, but it is not the key. It’s the tool, but not the kit. Moreover, by itself, a technical indicator is meaningless.

Entry and Exit Straight Talk

Q. My understanding of trend following is that if you want to make money, buy low and sell high. Sounds simple. The trick is to identify entry and exit positions and there is a host of guys out there promising that their particular system will solve all your needs. Right?
A. Why do you feel entry and exit is the crucial issue in trading? What if you have an entry that wins 80% of the time but wins you very little money? And what if you only lose 20% of the time, but when you lose, your losses far exceed your wins the other 80% of the time? Additionally, you don’t buy low and sell high. Good traders buy higher and sell lower all along, focusing on how much money they are making or losing (not just winning percentages). Buying higher means that as a trend moves up you buy more as the price increases. For example, let’s say a trend begins at a price of 5 and goes up a 100. Would you only want to buy at a price of 5 or 6 or 7? Of course not. Depending on your system, you might buy at 20 or 30 or even higher. Not sure what we mean? Email and ask!.

Q. If the trend goes to 100, how do you know it in advance?
A. You don’t know. Let’s say looking back into the past we knew a market went from 5 to 100. The point is to ask yourself, when do you buy? At price levels of 5, 6 or 7? At 20 or 30? Buying more as the trend progresses is what we mean by buying higher highs. Trying to buy low is nonsense. You can’t ever know that it is going to go to 100, but you are fully prepared with a precise well thought out strategy so it doesn’t matter that you don’t know. Whether it’s from 5 to 6 or 5 to 100, you are ready to act.

Q. Are you promoting an alternative way of identifying the trend plus a money management system?
A. Realize that identifying a potential trend is maybe 10% of the overall success of a trend following trading system. The key is not where you enter and whether you have a profit or loss on a position. The key is how big must you be trading based on market volatility. That must be your concern. You’re not interested in the level of the market is; you’re concerned with the market’s volatility. For example, if it’s the day of a crash or the day after a crash, the volatility is a lot bigger. So you should be trading smaller. Lose the concept that where you enter is critical. What is relevant is your current position, your equity and where the market is now.

Editor’s Note: Of course, there is an entry/exit method involved in trend following. But, focus on where real trading success comes from: money management.

How High Will It Go?

The other day we were speaking with a successful broker and he revealed that one of his strategies was to ride a stock up for 30% gains and then exit. That was his strategy. Let it go up 30% and get out. Sounds reasonable. But as trend followers know, this type of strategy is prone to problems. The biggest problem being that it goes against the math of getting rich. He is not letting his profits run!

Tom Basso tells the story of the new trader who approaches an old trend follower and asks, “Where’s your objective on this trade?” The old trend follower replies that his objective is for the position to go to the moon. He says, “I have not had one get there yet, but maybe someday.”

When you trade as a trend follower, your objective is to stay in a position forever. You don’t want to think about exiting. Of course, you have a plan for exiting long before you enter the trade, but the idea is to follow the trend as far as it will go up.

Support, Resistance and Entry

Many people use the jargon terms support and resistance. You have probably heard brokers talk of their importance or TV’s continuous babble of predictions, meaningless advice and analysis. The words are used to describe perceived tops and bottoms in a market.

Unfortunately, support and resistance is a waste of time. Whether the market is going to penetrate support or resistance has nothing to do with your entry price. Your entry price has only personal significance. It has no objective significance in the market. The market is not going to go through a support point or go through a resistance point just because of what your entry price is. The concept is not a relevant factor. It’s hype.

Trend Following Products

Michael Covel Trend Following Products

More info here. Learn more about behavioral investing.

Best Binary Options Brokers 2020:
  • Binarium

    1st Place! Best Binary Broker 2020!
    Best Choice for Beginners — Free Education + Free Demo Acc!
    Sign-up and Get Big Bonus:

  • Binomo

    2nd place! Good choice!

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