Full Review of Global Option Binary Options Education
Not a long time ago, I decided I spend too much time in front of my PC and not getting enough exercise. My solution to this problem came in the form of a bike…a BMX bike that my girlfriend bought for me. I wanted one for a long time and now that I had one I promised myself I would not attempt any flips, 360 degree turns or any of the stuff the experts do. I was just going to ride the bike to get some exercise. But after a couple of weeks I thought: maybe I can jump some stairs…or do a wheelie; that looks easy enough when I watch it on Youtube. Oh, but wrong I was. My first attempt and last (I hope) resulted in stupid me flat on the pavement and of course, some friends laughing. Good thing is nothing really bad happened, but my funny position on the ground looked a lot like the education provided by Global Option. I will explain the similarities, rest assured.
Global Option – First Impressions: Crash!
To be honest, I start to get really bored with brokers showing some “financial experts” discussing or just looking intelligent and successful on their home page…but at the same time forgetting to put live news feed up there. I think live news feed is very important for a trader, as fundamental analysis is a big part of trading and everybody wants to stay informed, but at the same time nobody wants to go to another website for information. I soon forgot about the lack of news when I saw the weekly market overview in the bottom part of the page. But the last week reviewed is the 24th – 28th of September…not really helpful, not to mention that telling stories about past occurrences is not really helpful either.
Global Option – Basic Level Education: Boom!
I turned to the “Help” section of their site and I must tell you, the explanations are a bunch of technical and financial terms thrown together in a pot called Glossary and stirred with a mix of “I don’t really care if you understand anything”. For example, they explain “On the Money” (usually this condition is known as “At the Money” but I don’t want to be too fussy) something like this: price is the same at expiration time as it was at the time of purchasing the option and in the same sentence they say “then the option is considered out – of – the – money”. Well, I don’t really get it. If they made a mistake, then it’s a big one and if they think there is no mistake there…they should look for other jobs. Moving to the Frequently Asked Questions section, I could find more of the same tangled information. Not all the information is wrong and some does have some good educational value, but it’s just not flowing; they start with something and then go back just to pick it up again and in the process, the reader just forgets what he learned previously.
Global Option – Medium Level Education: Bang!
I really shouldn’t call this Medium Level, but let’s still keep an open mind. After I learned what Binary Options are from the “FAQ” and “Glossary” sections of the website, they teach me how to use their platform and they attempt to do this in an outdated manner, using pictures and red circles around the zones of interest. I am not the one to complain about this kind of stuff, because if the education is good, they can give it to me in the form of a “Microsoft Word” file, but their education lacks in more than one area. Besides, maybe if we wouldn’t care about the image of a product we would still be using “Windows ’98”. So I consider that this “Tutorial” should have been more polished; maybe a video added where they show exactly the steps needed to open a trade. I found the next piece of education under the “Tools” section. I really don’t understand why it was in that place, but I told you they are almost as well organized as I was when I crashed my bike and continued tumbling on the pavement. This section, called “Introduction” (wise choice of name…) contains pretty much information compared to their other sections, but it’s more an enumeration and explanation of the differences between Binary Options and Vanilla Options. Ok, good enough and I will learn about Binaries when I learn about the differences, but…just give me the information straight, no twists and turns. What’s the need for all that?
The Binary Conclusion: Find another place to learn
It would be very hard for a novice to learn something good from all this stew of information because everything is explained in a hard to understand manner which would definitely be puzzling for a guy who is new to the game of trading. The site is hard to use in my opinion because when I click on a “Glossary” term or a “FAQ” question, I am redirected to another page and the only option to return where I was reading is to pres Backspace or the Back button on my browser. Among all this, they do have some good education, but it’s too little and too hard to find; sometimes they write too much explaining a simple term like “Put” but they do have good explanations for In the Money, At the Money and Out of the Money (not the one in the Glossary, though). Global Option in my opinion is poorly organized, not focused on the things that really help a trader and when they focus on a topic they look like me doing a bike trick.
For the Complete GlobalOption Review – Here.