Philip Masters has had enough of binary options, and in this series of articles he has set out to tell prospective traders the truth about this new method of trading that has taken the Internet by storm. Point by point he cuts through all of the arguments used by binary options brokers to promote their products, showing you that all is not as it seems. The bottom line? Nothing comes easy, when something looks as though it might be too good to be true, it probably is.
In part one Philip lays out his plan for the entire series, admits to also having been taken in by binary options and vows to right his wrongs. [Read More...]
In part two of his Binary Options Scam series Philip kicks off his onslaught by laying out why Binary Options have grown so popular so quickly, how the Forex industry itself has been remiss in this respect, and what he plans to do about it. [Read More...]
In part three of this series of articles on the binary options industry, Philip Masters puts the claim that binary options offer higher payouts than other trading vehicles in his cross-hairs. Read on to find out what you are not being told about binary options payouts. [Read More...]
On the chopping block in this installment is the claim that with customisable trade durations, some of which can be as short as 60 seconds, binary options traders have advantages that other types of trading cannot match. Philip demonstrates that this is not quite the case, and that binary options actually put you at a significant disadvantage. [Read More...]
Part five focuses on leverage. Binary options brokers have promoted the hell out of the fact that in not offering their clients leverage, unlike Forex brokers, they are looking out for their best interests. The main myth being busted in the following article is that in trading Forex leverage can cause you to lose more than you initially invested. He also ties leverage into the previous article about short trade durations and shows that highly leveraged Forex accounts in combination with scalping techniques provide the kind of surgical tool that binary options brokers are claiming they offer with 60 second trades. [Read More...]
In part six we finally get to the subject of spreads. A much misunderstood area of trading that binary options brokers have taken advantage of. In this articles not only does Philip do an admirable job of explaining how spreads work in Forex trading, but he also demonstrates that while binary options brokers claim to have no spread, they are manipulating price fees in a way which end up being even costlier than the spreads employed by Forex brokers. [Read More...]
Part seven sees us go into the weird and wonderful world of bucket shops, and the myth that binary options brokers employ liquidity providers. This may be the most important entry to the entire series as it shows you exactly why binary brokers are suspect and probably not to be trusted. Do not miss this one. [Read More...]
In Part eight Philip Masters laying out the importance of knowing exactly who to trust and why you the trader should not listen to the silver tongued devils who call you, get you to deposit, and then actually advise you what trades to make. [Read More...]
I'd love to hear your stories and suggestions for future posts so please do not hesitate to contact me at [email protected]
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.