Is Binary Option or Forex Trading Legit?


There is this wide range of misconception that binary option or Forex trading is a scam, but here, I want to clear your doubt on whether binary option or Forex trading is a scam.

When I first started trading, I blew up my account many times which left me with a conclusion that everything is a scam. I was so much frustrated to a point that I was affected emotionally. This happened because I was so in hurry to make this money without willing to first learn what it really takes to be a successful binary option or Forex trader. After I blew my account and my eyes are well opened, everything about me was restored to its default settings. That sounds crazy, right? That’s it. After that, I learned my lesson in a hard way, and I started reading some articles and some other some books about successful traders.

So, what am I saying in essence? Binary option or Forex trading have been in existence for a very long time ago, and it’s still what it was back then. It’s legit, but people got frustrated when they started in ignorance and ignorantly blew their accounts.

You’ve to take note of this when choosing a broker:

Before any wise person invests his/her money in any company, such a person needs to verify the legitimacy of such a company or firm. Since we don’t live in a perfect world, the world is not void of scammers. Hence, the need to verify if such a company you’re entrusting your money to is very paramount.

I’ve heard of many cases where some people claimed that some brokers are scammers, but since I’ve not gotten any proof about their scam saga as an evidence, I can’t label them as a scammers until I’ve my proof. Before you decide to invest your money in any broker, it’s recommended you make some background check about such a broker. This is to spare you from headache that you might not like to experience in the long run.

Here is another important thing that many people considered less significant: I think one of the problems some people are facing with some brokers is the fact that they didn’t read their term and conditions. Some brokers have some clauses that might not be favorable to some people; and their failure to read those terms and conditions and see whether they are comfortable with it is one of reasons why problems always ensure among them and the brokers.

In conclusion, binary option or Forex trading is not a scam. This is not to say there are no brokers that are scammers; you just need to understand the difference between binary option trading or Forex trading and brokers. Forex is a market filled up with different brokers, so it’s now up to you to choose which one you would like to use as your preferred broker. Please you need to understand that there are some brokers that will require you to verify your identify before you can withdraw your earning. You need to take not of that in order to avoid misunderstanding between you and your broker.

You can create an account with any of these brokers


Source by Isaac Itopa Suberu