Conclusion: choose your account manager wisely. The idea of hiring binary options account managers is productive. You can hand over the account to a professional, allow the person to trade for you, and make more money. But it isn’t as simple as it sounds! The reason is that trusting strangers with money have not always turned out to be fruitful 16/9/ · Are Binary Options account managers a scam or not? Why you should not trust them Tips for beginners Read more 28/10/ · What is a Binary Options Accounts Manager? The account managers or account consultants are the pro traders who manage your trading accounts for you. They will work 26/4/ · This means you are taking more risk than you win. A winning binary option guarantees an 81% return, in contrast, an out-of-the money option pays nothing. However, The number of fees charged for a managed binary options account will, of course, vary from broker to broker. As a general rule of thumb, the costs for managed accounts tend to be ... read more
Many brokerage firms offer the facility of personal managers. But do you know, your unsuccessful trades benefit their firms? The money you lose in failed trades eventually helps the brokers to make money.
So, the managers are actually working for them, and you never know when they will turn your money into unsuccessful trades. Either you will get the manager from the broker, or you hire them independently; there is no data that can put a stamp on his professionalism. And the chances are that the information provided is false and scripted. The account manager can deliberately make you face losses. Even if not intentionally, you still have to pay him. Whether you make a profit or not, managers will take their shares.
The managers are taken on a contractual basis. Many traders, without assessing the terms and conditions, approve them. This is where everything starts going wrong. They might add something which is not a suitable condition for you, but because you have agreed to that deal, you will face losses. Hence, it is advised to always read the contract thoroughly before making a deal with any personal manager or brokers.
The list of these problems will go on and on. This sure does sound tempting but is definitely not. The answer is affirmative. The robots are computer configured software that works just like the personal manager. They will examine the market trend and, based on the data, will execute the trades for you.
For them to place trades, it is important to give these robots login access to your account. After this, the software company will then handle the trading for you. Before using this, you must ensure that your trading terminal supports third-party software. In order to do that, you can contact the customer assistance staff of the broker and ask them to link the robot with your platform.
Though many brokers allow it, some do not have the technical means to connect them. If you want to use the robot but have not signed up for any broker, it is best to contact the software company first.
They will provide you with a list of brokers who are compatible with their robots. Based on that, you can make your decisions. The biggest pro of this alternate option is that robots are not maintained by the brokers. Hence, you can stay rest assured that robots would not make your trade unsuccessful purposefully because the company will make money only when you make profits.
Everything has their downfall, so does robots. Therefore, it is important to keep tabs on your platform regularly. Signals are trading programs that guide you regarding possible openings. Signals are extremely easy to comprehend. Just like robots, they also read the market trend. They will send you alerts via emails or SMS. How much should you really listen to them?
Some account managers and brokers are exactly like seedy car salesmen; ready to take your money, and sell you a lemon before they move onto their next victim. However, it is not all bad news, scams, schemers and bad investment advice.
Not all brokers and account managers are out to take you for a ride and bleed you dry. There are some who are out there to genuinely make you money in the long term, and therefore making themselves a nice profit in return. It just takes time and research to find the right person or product to help you out. There is also the option of cutting out the middleman, so to speak, and self-manage your own account with online broker websites.
There are many online Binary Option brokers that you can create an account with and control your own trading and investments. This means you do not have to deal with unqualified and pushy account managers. A lot of them provide online training and support videos so you learn how to manage and excel at online Binary Option trading for yourself.
In this way you are in control of everything, and do not have to risk your hard earned money in the hands of someone who is not qualified or has your best interests in mind. It is essential you research these online brokers, as just like account managers, there are seedy ones out there who try to take advantage of others. Once again. Be careful who you trust with your funds.
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As a trader, you have to stay focused and continuously monitor everything and, most importantly, use the broker who is right for you and your strategies. Therefore, if you wish to hire an account manager, you should always keep in mind to ask them questions. Look at their websites, search for reviews and comments on the Internet and ask around in regards to their reputation and services. Goldman Sachs Group Inc. Mainly, I trade 60 second-trades at a very high hit rate. You too can start making money for yourself by investing now! They recommend you the trades by observing the market flow.
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