Is 24Option a Scam?

These days with everyone on the net buzzing about binary options, it’s hard to tell what’s a scam and what’s not.

Firstly, trading binary options isn’t a scam in and of itself—it’s just one way you can invest your money.

Secondly, there are scam artists pretending to be binary options brokers on the web, but there are also a lot of real, legitimate brokers. 24Option is not a scam; the company is regulated and lists its license number directly on its website under Legal information in the Terms and Conditions.

Bonus Offer
100% to $500
24Option Quick Facts
  • Best Payouts On FX Pairs
  • Regulated
  • $250 Minimum Deposit
  • 30 Second Options

Trading Details
  • Awesome 60 Second Options!
  • Free Demo Account With Deposit
  • 70-89% Returns - Exotics to 300%+
  • Stellar Reputation & Fast Payouts

There are few brokers that are actually regulated right now, even among the better brokers. Many are still working on getting regulated, so this is a major recommendation for the company.

So why does everyone say that binary options are a scam?

Because there have been plenty of scams in the binary options industry and because many traders blame anyone else for poorly chosen trades.

It comes down to the way that people trade them—perhaps even more than the fact that some brokers out there are less than reputable.

Binary options are traded by three kinds of people. There are people who are trading for entertainment reasons, and people who are trading to try and make money. There is a huge swath of people in between, however, who are ostensibly trading to try and make money, but doing so in an irresponsible and foolish way.

These people are gambling without meaning to or realizing that’s what they’re doing. When they lose money on binary options, they have a tendency to lay blame anywhere but on themselves. These are usually the types of people who come out and say “24Option is a scam.”

Avoiding Binary Option Scams

There are a couple of ways you can prevent yourself from losing money in the binary options market. The first way is to make sure you choose a legit broker who is regulated like 24Option and really won’t be responsible for costing you money. Make sure that you thoroughly understand the terms of service and all fees and commissions associated with investing with the company.

Secondly, educate yourself on binary options (more here)and learn how to test.

While you may see promises online like

“Make $100 into $100,000 overnight,” or “Make $20,000 in 60 seconds with binary options,”

These are not realistic promises. The reality is that if you’re going to ever trade professionally, it’s going to be slow going unless you already are sitting on a huge bankroll and have some knowledge of what you’re doing.

Come up with a method for trading binary options that you can reliably test on historical data for profitable trading. Once you’ve proved that you can trade reliably on historical data, try going to demo somewhere (this feature is sorely lacking with almost every binary options broker in existence right now, except 24option and a limited other few), and then trade live with a reputable company. Follow the method you develop with discipline. Don’t trade randomly, and don’t blame your failures to trade with discipline on your broker. You can’t gamble your way to success. You can only become a profitable professional binary options trader by applying due diligence and hard work.

More Popular Articles

About

Entrepreneur, poker player, binary trader learning the ropes the hard way.

Copyright © 2015 - BinaryTrading.org, All rights reserved. Sitemap

Binary trading carries significant risk. Never invest more than you can afford to lose. This site is not financial advice or any offer of financial advice. This site is for entertainment and informational purposes only. By use of this site you agree to hold us 100% harmless for any and all loss. Clicking on links to external sites may result in affiliate income for the publishers of this website. (NOTICE) - This website is not a binary trading website and is NOT owned by any binary options company. We are informational and entertainment only. No trading is offered or solicited by BinaryTrading.org USA REGULATION NOTICE: Binary Options Companies are not regulated within the United States. These companies are not regulated, managed, connected or affiliated with any of the regulatory agencies such as the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC) or National Futures Association (NFA), or any other US Regulatory Body. Please take notice that any unregulated trading acitity by U.S. Citizens is considered unlawful. Trade at your own risk. Risk Disclosure: BinaryTrading.org does not accept any liability for loss or damage as a result of reliance on the information contained within this website; this includes education content, example quotes and charts, and news. Please be aware of the risks inherent with binary options trading and trading the financial markets; never invest more money than you can risk losing. The risks involved in trading binary options are high and may not be suitable for all investors. BinaryTrading does not retain any responsibility for any trading losses you might face as a result of using the information hosted on this website. The quotes contained in this website are not provided by exchanges but rather by market makers. So prices may be different from exchange prices and may not be accurate to real time trading prices. They are supplied as a guide to trading rather than for trading purposes. See our entire Privacy Policy.