In relation to Tradesmarter.com – is banc de binary options trading a legit way to make money?

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1. I recently started trading options with banc de binary and i would like to know what experiences others have had with trading on this platform as well as binary options trading in general.

   Thanks in advance for your insight?
   

   Answer by Jerry
   Binary options are a UK scam now being marketed to US novices.

   This is not an investment, just silly speculation. No professional investor would take it seriously.

   Do not deal with any unregulated firm. If youre going to do something dumb, at least try to protect yourself from theft.

   UK: Only deal with firms registered with the FSA
   US: Check any firm with the CFTC

   I looked up the firm you mention on the CFTC site and found no evidence that they had even applied to be a regulated firm. I would not do business with them and suggest you take the same precaution.

2. Trading binary options is a simple thing due to its binary characteristic. But making money consistently using this new kind of financial trading is another thing. Thats if you dont want to trade like gamblers. Do you trade binary options? Do you have some kind of strategy or system that guarantee winning?
   

   Answer by cactusgene
   No there is no strategy or method in ANY options trading system that GUARANTEES a trading profit. You are simply subject to the way the market bounces and thats the way it is.

3. I was reading a blog that kept talking about binary options trading instead of options. It said that binary options trading was a lot easier especially whne trading in the Forex Trading markets.
   

   Answer by Raysor
   A binary option is betting on yes or no. For example if an index goes above 5000 or not. Right or wrong. Otherwise you are betting on the movement. So you would be winning if the index goes above 5000 (say 5001 might be win 10, 5002 win 20 etc.) and conversely losing if it goes below 5000 to the same degree.

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