What Binary Option Auto trading Programs Do?
They actually don’t do anything
that you cannot do by yourself. Based on some algorithms and market experience
they claim that they can predict the direction of a currencies or commodity in
a certain time. For example they tell you that in the next 15 minutes and value
of USD against AUD (AUD/USD) will be increased or decreased and you apply the
proper bid to this currency, or sometimes you can ask the program to do it automatically
on behalf of you. These programs are not actually the trading platform and to
be able to use them you need to register with a Binary option trading platform,
open an account and deposit some money into your account to be able to use the
program.
As told already these
programs are mostly free for you because they obtain their money from the
trading platform that you have registered with them so somehow they are dealers.
From the time that you open your account you will not hear anymore from that
program owner and always you will be contacted by a broker from trading
platform that claims know too much and will be your dedicated broker for
trading.
Actually
the broker tells you to forget the program and listen to what I tell you! And
this is why I tell that a Binary Option Auto trading Program is only a trick to
connect you with a trading platform and get a share of money that you deposit
in your account.
During the different
financial events- same as when the RBA want to issue the economical index of USA
each month- the broker calls you several time and push you to deposit more
money- normally several thousand- into your account because they believe it is
the right time for trading and they know what happens to the targeted stock
share and tempt you with a promise that you will make a good money if do
whatever they say. If you follow them your possibly lose your money because
they normally have a wrong prediction!!!! If not, they get angry and finish the
call and come back some other times and do not stop this follow up until they
get your money as they want.
There is somethings as
Bonus deposit in each Binary option trading platform that is a trick and a big
issue for you.
A bonus is money the trading
platform/website deposits into your account with them for free for trading and
its amount that depending on their regulation can be equal to 100-200% of money
that you put out of your pocket into the account.
It is up to you to accept it or no but if you do, then
you will be in a bog trouble!!!
You ask Why???? Let’s explain
you.
In terms and conditions
of each Binary Option trading company there is a term named as
“Wagering”
This term indicates the
minimum of trading amount that you should do and /or the minimum amount of
total bids that you should put before you be eligible to withdraw any money
from your account. The minimum of this wagering amount is very high and
sometimes 50 times of bonus. So for example say: “You
have deposited $1000 into your account and you are accepted $1000 bonus, as the
result if minimum wagering is 30 times of bonus, then you are not eligible to withdraw any money from your account before you
total trading amount/bidding reach to $30,000.
Please look at the
figure “$30,000”. It is not a small amount and if you want to reach to this
level of trading amount it is highly possible to you lose not only the bonus
money, but also your own initial deposit.
So before any attempt to open an
account with a Binary option website and accepting any bonus read its terms and
conditions carefully and save pdf copy of that on your computer
Please follow me in my future posts regrading Binary
option trading
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