VIP Binary Options Traders – Who Are They and Can We Catch Them?
VIP Binary Options Traders – Trade Like a Shark
I often wonder how many “whales” are trading binary options – I’m not talking about the big aquatic mammals but about the people who deposit $50,000 or more in their binary options accounts. These guys can make the equivalent of a medium monthly paycheck in a single trade and yearly profits… well, you can imagine how high those can be. Unfortunately, the internet didn’t help much when I tried to look for such successful guys or gals and all my searches returned links to the infamous VipBinary, a broker known for the numerous complaints and scam accusations. Anyway, before making such a huge deposit, you might want to think about a few things.
$50,000 Deposit? No problem!
There are people out there who see $50K or $100K as pocket change, but I am not talking about those guys… they are way out of my league. But there are also people for whom such sums are big, yet not unobtainable and for one reason or another, they see fit to invest it in Binary Options trading. They are the giants of trading and I’m sure every broker out there would welcome such high deposits with open arms/pockets and a very warm smile but let’s think a bit about the dangers a huge deposit has.
First of all, to risk such a high amount of money, you should be extremely confident in your strategy and trading skills and you have to be an expert among experts when it comes to binary options. Of course, sweaty palms and accelerated heart rate are out of the question and you will have to be stone cold to say the least. After all, if you trust your strategy with $50,000, you cannot doubt it and you cannot second guess anything or make mistakes. To put it simply, a Swiss clock must envy your accuracy and perfect timing. The people who trade hundreds of thousands of dollars accounts think and act like that so if you want to join their ranks, prepare accordingly.
Did you ever think about how much a guy who deposits $50K must trust his broker? Come on, we all know what a headache a withdrawal procedure can give you so imagine how someone who tries to withdraw $100,000 must feel. I always say you need to read the Terms and Conditions of the broker you want to open an account with, but I am sure there are people out there who don’t take the time to do that. Well, I bet someone who deposits 50,000 bucks takes the time to read that document and understand it, double checking and even triple checking each condition. Would you sign a contract without reading it? If we’re on the subject, let’s think about the trading volume required to reach before making a withdrawal: many brokers want you to trade bonus + deposit x 20. If the deposit is $50K and the bonus is 100%, I am sure you realize you have to keep placing big trades if you want to withdraw money any time soon so you don’t have the luxury of placing small trades to test your strategy. On the other hand, I am sure that traders who deposit $50,000 or above are pretty confident about their strategy and are way past the testing phase.
Can I be a VIP Trader?
To tell you what it takes to become a VIP trader who deposits $50,000, I should be one, but I never deposited such a sum so I don’t know what determines a person to do it. I know that your pockets have to be VIP-level if you want to be a VIP trader, but the thing is that I don’t really see the point of high deposits; if your skills are good, you can increase $1,000 to $50,000 or more. Anyway, my personal and strong opinion is that traders with hundreds of thousands of dollars in their accounts keep their mouths shut and manage their business without telling the world about it or spending time bragging. Maybe that’s why all I get when I ask Google about VIP traders is links to VipBinary broker… sad to see how that shady broker destroyed the VIP trading “theme”.
- High Deposits, High Rollers, 2 Approved Trading Strategies for VIP