Full Review of LBinary Educational Resources for Traders
Can LBinary provide a good enough education to prepare a beginner for trading binary options? LBinary encourages their clients to use their One-on-One live trading sessions and speak to their professional brokers. They also state that an educated trader makes better trades and newcomers can be taught how to trade, even though it might seem hard. Looks like they are pro education, so let’s check out the available material on their website.
What Kind of Education does LBinary Provide?
First, let us take a look at their, as they claim, exclusive One-on-One live trading sessions that I just mentioned above. This is a form of education that is only for account holders and you need to ask for it. It is always good to be able to speak to someone who knows how the platform works and ask questions about the terms and conditions or other things related to trading. This is a good start for beginners with loads of questions on their minds, but what else is there on the site?
LBinary provides a market’s review section where Bloomberg news is being streamed live. Some daily market analysis with pictures are also shared, explaining what is going on with some assets like Oil or Dax. This is good if you are trading those assets but I didn’t see any additional analysis about other assets.
There is an ‘Information’ section where you can find what binary options are, a glossary, FAQ, banking information, asset index and more general information. Overall, these are some basic explanations – good for answering common questions that newbies might have about binary options.
Under “option types” you’ll find the kind of tools and options available on the LBinary platform. It’s important that you familiarize yourself with them if you want to trade with LBinary. For example, what is ‘roll over’ or ‘double up’, ‘in the money’ and ‘out of the money’?
To find the “real” education, you need to look under Information, Tutorials and click “binary options education”. On this page, a lot of info is just piled up in a long long article. The information here is still newbie level stuff. You should know about the subjects mentioned here; major currency pairs, basic technical analysis, trading psychology and money management and more. I just don’t find the way they are presenting this information pleasant. It’s tiring to read through all that small font size text and keep scrolling down. No videos and not even one picture. This information can be presented in a much more pedagogic and fun way. Sadly, this effort was not made by LBinary who claims education is important. Not important enough apparently.
LBinary Education, Does it Suck or Not?
Well, I’m kind of disappointed as you might’ve already guessed… Not even the regular “same old same old” type of educational videos were available on their website. Nope, not even the good ol’ e-book. Looks like they were in a hurry and/or just too lazy to create a proper educational center. A bunch of text was just stuffed in one page that makes it not fun at all to read and scroll through. Hmm… ok, at least they provide One-on-One trading right? Not really… This offer is only valid if you are an “Expert” account holder, which obviously requires a much higher deposit than other account types. The other account types get the account manager whose job, I believe, is to convince you to make a bigger deposit. I used to think the L in LBinary stood for “Love Binary” but now I think it stands for “Losing Binary”. In conclusion, the education level with this broker is very poor. I can’t confirm how the education level is for Expert or above, account holders. Maybe that’s better but I’ll remain skeptical about it. Want to know more Lbinary? Check out the complete review.