Until Death Do Us Part?
“I, take you, to be my wife, to have and to hold from this day forward, for better or for worse, for richer, for poorer, in sickness and in health, to love and to cherish; from this day forward until death do us part”.
Most married couples say something similar on their wedding day. For a little bit more than 33% of them, it’s a complete lie. As we all know from our everyday life, promises are easier made than done. Same goes for some trading platforms you register with. If you, Mr. “I’ve never traded, but I really want to”, haven’t done your homework on the platform you registered with (like checking out our review on it), and still haven’t deposited, here are a few promises you shouldn’t fall for such as maybe like that day you got married.
1. Yes, Your Account Manager Will Tell You What to Trade On
No, your account manager will not tell you what to trade on. He can give you his analyze of the markets and his opinion on different movements and once in a while give you a few good trades if he recognized a sure trend. But no, he will not call you every day and give you the assets you should trade on, or for how long, and during what hours. For that you have signals.
2. Yes, You Get an Account Manager At Your Service For Minimum Deposit
No, you don’t get an account manager at your service with a minimum deposit. Forget it. The account manager is a person, a human being. Not a robot, panda bear or a volunteer. He is costly to the platform, meaning he is definitely not going to be free for you. You are not paying for him directly, but you need to have a high enough deposit in order to have access to his services. He is valuable. Among his services he can offer you one-on-one lessons, teach you trading strategies on different tools (high low/one touch/ boundary), and even for premium account traders, teach strategies to trade on the high yield tools.
This guy will analyze your trades, and according to that he will know how to advise you best. He will advise you on what markets to trade on (according to the hours you usually trade), what trades to cut loose (according to your weak points) and what trades and strategies to focus on (according to your level of understanding and concentration).
3. “Yes, We Make Money Only If You Make Money”
No, we don’t only make money when you make money. If you lose money, we also make money. Salesmen will sometimes try and use this line to make you think that the platform’s main interest is you making profits. 90% of Binary Option platforms make money from a system called P&L. Based on the total profits and losses, traders have. Meaning, your trading volume. The more you trade (regardless of whether you win or lose), the more money the platform earns. It’s fair, and this is why they will sell you the services of the account manager, because even if you lose money, they still earn. BUT, if you gain profits, they know you will keep trading and increase your trading volume, so they will try to get the best people in the market to help you and keep you happy (and fat).
4. Yes, a Steady Profit Is Guaranteed
No, no and no! A steady profit is not guaranteed. You trade, whatever you win is yours. Whatever you lose is not yours anymore. It can be a steady profit at some point once you get the hang of it, and once it becomes routine for you. But at the start, you can make $200 the first week, the following week you will make $1000, on the third week you won’t make any money at all and in the last week you will reinvest $500 because you lost your remaining balance after withdrawing profits. In the long run you want to deposit the least amount as possible, and withdraw as much as you can. Withdraw half of your capital once you double your balance, keep trading with what’s left and repeat the same process over and over. Do that and you’ll be fine (as long as Iran doesn’t get nukes).
5. Yes, You Can Withdraw In 24 Hours
No you can’t, there is no such thing. Each platform needs to make a verification process. Once you send your documents, they are verified and archived. Each time you make a withdraw request, it takes a minimum of 48 hours to process your request. Only then your money is sent to your bank account/mail box or fax. The quickest withdraw a few of the platforms offer is three working days, and the longest… well, I saw some unlucky comments saying they’re still waiting since 2011. Again, know who you’re dealing with. A cool logo doesn’t mean it’s a safe platform, and on the contrary, a dull logo on an unknown platform to review sites doesn’t mean it’s fraudulent. Back to our business, most withdrawals can take up to a week. And if you are the kind of person that often needs money on the spot (because your mom got sick, or your Ukrainian dealer says its pay time), make sure to ask how long the withdrawals will take.
In conclusion, few are the people who pay out cash, stick to their word and put their money where their mouth is. You can always ask me what you were offered, and I can tell you if it is possible or just a fantasy from a different galaxy. Use your common sense. COMMON. If it sounds reasonable, it probably is. If it sounds like a scene from Harry Potter, keep your magic stick in your pants. Don’t get too excited, Come and see me.
Thomas. Come Chat with me on Our Forum!