Binary Options Success Story 2020 – Can You Become A Millionaire

Best Binary Options Brokers 2020:
  • Binarium
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    Best Binary Options Broker 2020!
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  • Binomo
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    2nd in our ranking!

Most Honest Binary Option Success Story You Will Ever Read

Many books will tell you that there are a lot of scams involved in binary options trading.

I have read about the stories of many people, who lose a lot of money, because they got scammed by fake brokers, signal services and trading software.They thought they could become what they call a binary option trader millionaire and they failed.

Every single trader will surely encounter various types of scams during their journey of seeking success in binary options trading. Many people who entered into the market misunderstood that binary options is a way of making quick money and they were too eager in investing all their money and end up huge losses.

Can A Binary Option Trader Become A Millionaire?

Have you ever think about becoming a millionaire? Maybe you can do it with binary options trading.

In my opinion it’s possible to have a trading profit of $1 Million. Here is what you need exactly:

  1. Strategy: Find a binary options trading strategy that works for you
  2. Consistency: Obviously you won’t become a millionaire with only a few trades. You will have to trade for years or make a big initial deposit (not recommended)
  3. Luck: There are things that you can control, but sometimes all that you need is a bit of luck

There you have it. This is all you need to become a millionaire in binary options.

PLEASE don’t get scammed. This is the main purpose of this website. We will recommend only trusted brokers on this website.

Most traders who lose a large sum of money will decide to quit but there is only a small number of traders who are persistent. Those who are patient and persistent will continue to improve their trading skills by practicing trading often and spending many hours on studying the tutorials.

Binary Options Success Story

Here is the story of one of our readers. If you have a similar story let us know by contacting us.

I am happy to have reached the skill level, that I am now in and I trade regularly to profit, so I am going to tell you how I succeed. My Australian income is above average. I know that there are a lot of scams around but I don’t care and I just keep on moving forward (I read scam reports/reviews before signing up).

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

The profits I made in binary trading (under AU$500k) are great but I can’t say that I am rich, and I haven’t owned a sports car or luxury yacht to show off yet. But I am just proud that I can at least rely on binary options trading as a way of making an extra income to help pay for my living expenses and some semi-luxury things.

I am current successful with Highlow, a broker recommended by BinaryOptionsAustralia.com. My friends are trading on IQ option but that broker is not available in Australia.

Name Min. Deposit Regulated Features Review
AU$50 + AU$50 CASHBACK TRADE NOWREAD REVIEW

I feel that I should be sharing this success story about my binary options trading journey with everyone. I have not yet succeeded at becoming a millionaire from binary trading. In truth, I was suspicious about anyone that have become a millionaire by binary options trading but the most important thing is that it provides the path for me to become involved in legitimate trading. This may be the strangest binary options success story you have come across on the web.

I started with a scam broker

I entered into the market at a time when binary options trading has just been introduced online. Being unhappy with my office job, I was hoping that I could earn more. I was very wary about get rich quick scheme and done a lot of research to get educated on the online binary options trading. Ultimately, I signed up with an anonymous offshore broker.

I was persuaded by a senior broker to invest all my capital into the binary options trading.

It was a mistake that I trusted in the senior broker and my advice is that you quickly move away from anyone that is trying to persuade you to invest money from your trading account. The first deposit that I put in my trading account was USD $3,000. The account manager just kept on helping and my initial deposit quickly rise from $3000 to $7100. The one thing that I notice he was trying to do is to prevent me from withdrawing the funds.

Eventually, the broker did allow me to withdraw only $2500, which is much lesser than my initial deposit.

The reason why he let me withdraw some money is just so that I could continue to build trust in him and invest more money in the trading. The signals that this broker provided was quite accurate and he gave clear instruction as to when I should place a call/put and the amount I should invest. The broker would also explained the reason why I should place the call/put option. I naively put my trust on the broker and use my credit cards to deposit more funds for the second and third time. In the end, we lost almost everything except for $1000. I ended up having to pay back the outstanding balance of the credit cards plus the interest rates.

Lessons Learned

After this encounter, I’ve learned my lesson not to trust anonymous brokers. These managers are skilled at using lengthy tall to trick you into investing more but they will do some tricks to make you lose all your money in the end. I only realize that I was actually scammed after reading books and tutorials. Since then I only trade on regulated brokers (preferably ones that are based in Australia) like Highlow.

My success started when I moved from “noname” brokers to trusted brokers. Currently my profits are over AU$230k.

Are there any millionaires in binary options? Probably yes, but only a few. Most people will lose money because they either sign up with one of the scam brokers or they have no strategy at all and lose their money on the first trade.

5 thoughts on “ Most Honest Binary Option Success Story You Will Ever Read ”

Everywhere page I open that has to do with binaryoption or forex investments all have great customer reviews but when I tried investing with binaryoption, from plus option, to binomo to IQoption, I lost a lot. I still have someone helping me with my trades but I keep losing and now they want me to invest more money. I need to speak with people who have invested and had similar situations. Please reach out to me on my username

I have a platform where you can learn this incredible skill from an actual millionaire.

Can binary options traders become millionaires?

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No, never in my case. Do you know how binary options work and how brokers make money? If you knew, you wouldn’t have asked this question. Don’t worry lemme tell you how they work.

-You don’t get paid by market, the brokers pays you.

-The brokers only make money when you lose.

-Broker can easily make you lose or manipulate your order cause you are trading on their platform.

-Some brokers will try to make you lose or others will simply ban you. Even if you start making 2000+$ per month you are useless in their eyes, they will add you into blacklist. They don’t need winners, their business run by .

Binary Options Millionaires – Real Or Fake?

We have all heard these ‘binary option millionaires stories’: someone started trading binary options a week ago, and now they are a millionaire. But are these stories true? And if so, can you repeat them? Let’s take a close look at what you can expect when you start trading binary options.

In this article, you will learn:

  • Why The ‘Get Rich Quick’ And ‘Millionaire’ Stories Are A Myth,
  • Why Binaries Remain A Sound Investment Vehicle
  • How To Achieve Long Term Success.

With this knowledge, you will be able to start trading binary options with realistic expectations and achieve long-term success.

Millionaire Myths: Get Rich Over Night

Stories of people who got rich with binary options are generally intended to mislead, and stories of those who got rich overnight are of little help to new traders. We recommend ignoring them because they all fall into two categories: lies and luck. Let’s look at both types a little closer.

Type 1: Lies

As with any advertising statement, some get-rich-quick stories are just lies. Untrustworthy brokers made them up to attract gullible traders. Likewise, marketers will create these millionaires to encourage them to join the immoral brokers.

Brokers that use such tactics are not to be trusted. If they lie about the success of their customers, they probably lie about other aspects of their business, too, including such essential aspects as payouts and available assets.

Of course, it is difficult to tell for newcomers to the binary options world whether you can trust a broker’s stories. Our pages on how to avoid scams highlights the tactics used. There are enough genuine, honest brokers around, so that traders can walk away from a firm should they have any doubts whatsoever.

Type 2: Luck

Some great success stories are the result of sheer coincidence. Simply put, when enough people do a thing, all outcomes will happen – including great luck.

Assume a coin flip tournament with 1,000 starters. After the first flip, there will be 500 players left, after the second flip 250, after the third flip 125, and so on. Soon, there will be only one person left.

Now, if this person has bet all their money on every flip, they will be incredibly rich. The coin flip provider will use them as a poster child to market the quick and easy money you can make by flipping coins. Their success, however, is neither a result of a great investment tool nor their genius nor of a great strategy.

Millionaire Success Stories

Their success is merely a consequence of the odds: when enough people do something, someone will have incredible luck. Some people have survived 13 plane crashes or a fall from a skyscraper. But does that mean that you should try to repeat their actions? Hardly.

If you tried the same strategy, you would fail. There is a fifty-fifty chance that betting all your money on every single coin flip would ruin you with your first trade. If you get lucky and win the flip, you would face the same odds again. Even if you are a lucky enough to win ten flips in a row, the 11 th flip would likely ruin you.

The same applies to binary options. People who make a lot of money in a short period used an unsustainable strategy and got incredibly lucky.

Broker Tactics

There is a rumour that some brokers use this knowledge to their advantage. They give many of their employees £10 to start trading and require them to invest everything on every trade. Most of their traders will lose this money, which means that the broker gets it back. Sooner or later, however, one employee will be lucky enough to win enough trades in a row to become a millionaire.

The broker can use them as the poster child for their next advertising campaign. On the other hand, brokers do not really need to use such questionable methods. Once they have enough customers, one of them is bound to create such a story.

The point is: people who got rich overnight with binary options failed to use a strategy that could generate long-term success. While they got incredibly lucky, you would be foolish to bet your money on the same one-in-a-million chance.

Luckily, there is a better option available.

Using Binaries Long Term

Let’s be honest: if there were an investment tool that would turn out millionaires overnight, everyone would use it. As we have explained, these millionaire traders are generally nothing more than a marketing scam.

That, however, does not mean that binary options are a bad way of investing. Just like stocks will not make you rich in the blink of an eye, nor will binaries. But a solid long-term strategy can nonetheless create great profits.

The main ingredient of long-term trading success is a trading strategy. With the right strategy, you can successfully trade many types of assets. The great advantage of binary options is that they offer more profitable investment tools than any other type of asset.

If you want to get rich with binary options, you can. But it will not happen overnight. What you need is a solid strategy, long-term commitment, and the right knowledge. Let’s look at all three of these aspects.

Binary options success factor #1: A solid strategy

To successfully trade financial investments, you need a good strategy. Random investments will quickly ruin you. A strategy defines when you invest, how you invest, and how much you invest. It also contains a plan to monitor your success and keep improving.

One of the most important points of a successful strategy is that you invest a small percentage of your overall account balance in every trade. When you invest between two and five percent in every trade, you survive losing streaks and gradually grow your capital.

Traders who became rich quickly lacked a good strategy because they necessarily invested more than a few percent of their money in every trade. When you invest half of your money in every trade, you have a small chance to get rich quickly, but the infinitely more likely outcome is a failure.

Even the best binary options traders only win around 70 percent of their trades. That is easily enough to make money – just like winning 70 percent of all coin flips would be enough. However, when you are unable to guarantee that you will win every single trade – and nobody can guarantee that with any kind of financial investment – you have to plan for losses. Sometimes, you will lose three or five trades in a row; sometimes, you might lose ten trades with only a few winning trades in between.

If you bet too much on a single trade, you will soon end up bankrupt. This is why a get-rich-quick scheme is a bad strategy, and why you should invest for the long-term.

This website provides a wealth of information about trading strategies and the right approach to the market. Use it, and you will enjoy long-term success instead of quick failure.

Binary options success factor #2: Long-term commitment

Learning a new skill takes time. Trading binary options is the same. There is a lot you have to learn about the different binary options types, your own personality, and the market itself. In a world where financial advice is freely given but rarely well-thought-out, you have to learn how to separate trustworthy sources from those that only want your money.

All of this takes time, effort, and commitment. Nobody learned to speak overnight, and learning to trade takes just as long.

Of course, talent is an issue, too. On the other hand, binary options offer so many different trading styles – from mathematical to pattern recognition, from very safe to highly risk – that almost all traders should find a style that matches their talent. Once again, this site and our strategy guides can help you with this job.

The rest is up to you. Invest the time and the effort, and there is a good chance that you will see great results. Because most traders offer demo accounts that allow you to trade completely risk-free, you have nothing to lose.

Keeping a trading diary can help you with this job. Write down why you made a trade, which tools you used, and which environment you were in. Monitor your success over time and find the things that work well for you. Eliminate everything else.

Binary options success factor #3: The right knowledge

Maybe the most important aspect of binary options success is the right knowledge. We have mentioned this point a few times, but we can’t stress it enough. Find a trustworthy source of knowledge and never stop learning.

With this site, you have made the most important step along the way. Come back, read our articles, and try the strategies we recommend. You will soon find the trading style that is right for you.

Conclusion

Like any type of work, becoming a successful binary options trader requires hard work. While it is possible to get rich overnight, good strategies focus on long-term success. Get-rich-quick schemes work for one in a thousand traders; the rest will end up broke. Ignore these stories and focus on the one thing that can bring you success: hard work.

Here’s what you do:

  1. Learn from the right sources.
  2. Apply your knowledge with a risk-free demo account.
  3. Once you know how to make money, switch to real-money trading.
  4. Keep improving.

Follow this approach, and you will be better off than chasing impossible promises.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

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How To Start Binary Options Trading 2020
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