Full Review of StockPair Pair Options/Binary Options Education
Yesterday was my birthday and some friends came over to my place to celebrate. It was a nice party, no big deal, just some close friends and one of them happens to be a Binary Options trader. Whenever we meet and drink a beer or two we start yapping about what is better to trade, Forex or Binary. It’s an endless discussion and usually the rest of our friends just leave us alone to argue. But yesterday’s debate ended rather swiftly when he told me about Stockpair, a broker that offers Binary Options and Pair Options. Frankly, I never heard of Pair Options trading and being a curious person, I forgot all about our little dispute and I started listening to him talking about Pair Options and decided to review Stockpair’s education material.
Stockpair – First Impressions – Thumbs up!
Ok, first thing I noticed was the Reuters live feed in the middle of the first page. Nice one! I always like a broker that has a live feed from Bloomberg or Reuters. It makes them look professional. Let’s hope they don’t just look that way. Their educational material is nicely structured on the Guide page with big buttons indicating the category you are about to enter and…wait, they have a big button that reads “Manage Your Risk”. Ok, if that button contains some good information and based on what I’ve seen so far, I might think “This is it!”, I finally found a broker in a league of its own. But I don’t want to click that button just yet, because I might be influenced for the rest of the review by what I’ll find there. So one step at a time:
Stockpair Education Basic Level – Examples, examples
The best way of acquiring new knowledge in my opinion is through examples and Stockpair has enough of those. Their innovative Pair Options trading style is very easy to understand, because there is no hurry when they explain it and it’s quite attractive, I must admit. Another thing I like is the little illustrations they have on top of having examples. Hmm, I start liking them and I have very high standards when I plan on trusting someone with my money. Overall, their basic level of education is objective, to the point and they introduce the trader to Pair Options in an excellent manner and no matter how much I try to find some area where they are lacking, I can’t. Great work guys! P.S.: I know you don’t have a Glossary, but I’m going to let it go this time, because the terms used for Pair Options are explained throughout the site.
Stockpair Education Medium Level – “Manage Your Risk“ button, here I come
Before I’ll finally click on the button I’ve been talking about, I must take a look at the “Trading Strategies” button. Unlike other brokers, they don’t tell me that a good strategy is to make big bucks quickly and with no risk. I know it sounds crazy, but some brokers actually consider that mumbling a strategy that new traders should follow. Not the case here. Stockpair has two strong strategies and it so happens that I’m a fan of both: “Support and Resistance” and “Cointegration”. On the Support and Resistance strategy they do a good job on telling me how to adapt it to Pair Options trading, but I feel they lack a bit when it comes to explaining how to find Support and Resistance levels. Anyway, they don’t write a lesson on technical analysis, so it’s a decent job. Ok, now for Cointegration strategy: I know quite a lot about cointegration and I can tell you that it’s a very vast subject and I was convinced they have no chance of explaining it all. And they didn’t even try to bore us with all the details, instead they did an unexpectedly good job at capturing the essence of cointegration and making us understand how to use it and when to use it for Pair Options. The subject is much wider but I found on their site a stripped down version that is helpful without a doubt. So far so good and I finally click on the “Manage Your Risk” button hoping they manage to overcome this last hurdle. I confess I wanted them to have good risk managing techniques so I could say I finally found a broker with good education…and I did. Although they don’t offer specific techniques for managing risks, with percentages and position sizing, etc., the first thing I could read was how risky the Options are. They warn us about the potential losses that we can incur even in a short time. Not a single word on overnight wealth, easy money and stuff like that – Nada! This is how a broker should introduce me to trading, not by promising financial freedom obtained with no risk. One more thing I noticed was the Trade Simulator that is actually a video showing how to operate their platform. If you decide to invest with them, you need to see the video because most of us are new to Pair Options trading. You can find it under the “Trade Simulator” button on the Guide page.
The one sided conclusion
In my opinion, most of the brokers around these days should go to the Stockpair website and make notes about how a broker’s education must look like. I could find no stain in their educational material except maybe some more information on the strategies, but those are covered well enough for a medium level trader and an expert trader I’m sure knows all about S/R and cointegration. Like I said earlier, I didn’t know anything about Pair Options and I could review the education from a newbie’s perspective. Stockpair gave me good information, well structured, easy to understand and the most important thing, no bull… (guess the word). Hats off to you guys! Keep on doing great work and hopefully more brokers will follow your example.
Enough talking about their education. Check out what Martin Kay has to say about Stockpair.