/biz/ - Business & Finance

>>1563086

This is app basically makes it look easy. If you compared the app forex pair prices to the actual prices you will see differences. They want you to think it's easy so you deposit money with them and then lose it all. remember - all binary brokers want you to lose, because when you lose THEY get your money.

>>1563108
Thanks for clearing that up for me, you helped a lot.

>>1563086
>>1563431
wow did OP just bump his own thread pretending to be two different people?

>>1563086
you need to do the research yourself before you sign up but there is a reason almost all binary trading companies are based in cyprus, Israel, Russia or other 3rd world countries and the reason is that they will go out of their way to not return your money.

So are you guys all saying that one should not waste time with binary options trading?
It sounded like an interesting way to get some extra money on top of normal wage-slave salaries, no?

>>1563086
You can get a 30 day trail account on forex with pretend money. You can try the real deal yourself.

>>1563441
No, I just post on a cell phone network so my id is often different. Why would I make a thread that I knew the answer to?
>>1563446
Yeah that's what I gathered from my research, it seems like if I were really really good at it I could make some money, but I'll just do normal forex instead.
>>1563555
I think that's how it goes. It's interesting, but you're basically gambling and the odds are not in your favor.
>>1563557
Thanks, I'll check that out.

Completely avoid binary options.
It's the biggest scam of them all.
Forex is close, there are many places that will fuck you on it.
Stocks / Crypto are really the way to go.

>>1564430
total retard here

why are binary options bad?

There seems to be a little misinformation going on. I'll clear things up.

1. Do forex brokers want you to fail?
Not really, some do, but the good ones don't.

The "legit ones" (interactive brokers / FXCM) only ever make money off the spread, as in, when you buy 100 USD dollars with 80 pounds, they charge u like 12pence per transaction (it's a simplification, but essentially that).

That's how they make money.

Now the shady ones, which offer high amounts of leverage (risk) trading, work like this: they look and see if u are a shitty trader, and whenever u bet on a currency, they bet against you. If you are a good trader, they try to reverse engineer your strategy (if you are an algorithmic trader) or simply bet the same as you, but 10x more, so they always have enough to pay you back, and make money off your knowledge.

It's shady because there is little regulation and they don't care about your interests, though the legit brokers are fair desu

>>1564980
Uncle sam doesnt want US citizens trading forex. The US government has delegated the regulation of forex to the futures regulators which puts the futures regulators in a conflict of interests because both forex and futures are each other's main competition and the futures regulators are doing a lot of things to stamp out their main competition by over-regulating US citizens ability to trade forex. You can see this in how they recently shut down Interactive Brokers. IB was the last remaining decent broker available to US citizens, now there are none. Now because of the US futures regulators, US citizens only have access to a the three remaining bucket shops, you're only left with the three worst brokers who dont really allow you to access the real liquidity providers in the market they dont even allow you to get access to a broker that provides a datafeed to get a peek into what is really going on in forex market LPs, and so your only decent option left is to flee forex. The US futures regulators try to do a lot of things to put the US citizens at a huge disadvantage compared to citizens of most other countries and prevent US citizens from accessing the decent brokers that are available to citizens in other countries. By doing this they try to force US citizens to leave forex entirely and trade futures.

>>1565117
If you're not a US citizen there are good brokers you can get access to a decent datafeed which will provide you with real data on trades taking place within their huge pool of the largest liquidity providing banks in the world close to the interbank. Thell give you real data such as volume at the bid and volume at the ask.
But if you're a US citizen you are not even allowed to get anywhere near good data or anywhere near the LPs close to the interbank, you're stuck with only being inside the walls inside your broker's orderbook, you only get limited access to the trades taking place inside your broker you dont get to see whats going on in the wider forex market. The only option for you to get a datafeed would be to trade futures contracts at the CME instead of forex.

>>1563086
Macro or micro? What college?

Then, how to get started with forex trading?
Is there a platform to use like binary options?

>>1565196
I took macro once at a small liberal arts college, but now I just work for money and I'm trying to get a plant breeding business on the side. I'm looking to get some decent money so I can move out of my parent's house. So this was just me trying to get a taste of the forex game, but the post above you seems to suggest its not worth trying since I'm American.