Quit Binary Options? A survey recently made says that 55% of people chose Forex and 45% of people chose Binary Options, these are the results of an Instagram post. So, should you quit Binary? Keep reading to know more!
What has happened to Binary? Should you quit it?
There have been many changes continuously in Binary. When it comes to regulations, many countries banned this type of industry. That is why many brokers have disappeared and new ones have also appeared. With Binary Options it is getting more and more difficult to make money. That is one of the reasons that makes us think that you should quit and change to Forex, if you prefer.
Another reason to quit Binary…
It has always been that difficult as you needed to analyze the market you wanted to make money on. Nowadays, it is more difficult to earn money. Why? since for some reason people have now started to create ghost brokers.
So, today you could trust 4 brokers, which we have mentioned before. If you do not use any of these, unfortunately, you will lose your money. And that is what has been happening over the years. There are lots of disadvantages with Binary, that’s another reason to quit.
The worst moment of Binary Options was when people from the United States made some videos saying that it was a scam. It is believed that there is a scam side in this type of trading. But if you are able to dominate the market, you will be able to make money. But not everyone can, so it is not that the industry is the scam. It is just that you need to be careful with the broker you work with!
Difference between a scam and a real deal
Now we will talk about the difference between a scam and a real deal. The scam is basically what happens with these ghost brokers. There you will not be able to withdraw your money. It is simply because the company does not exist. It is not that it is a bad deal, but it is a complete scam.
If you choose the right broker and pay for the training or signal service or in any case a robot, and you don’t work enough, it is not a scam. So, you have to differentiate this. Many people say, “I paid for signals, but I don’t earn money”, this is not a scam. So, stay away from scams and mistreatment.
Forex Reliability will make you quit Binary!
It is simply more reliable than Binary Options! Binary Options is good, we know that. But the reliability of Forex is extremely high, which is awesome! It has been in the market for decades.
They are not companies that will scam you for having 5 thousand dollars in your account. There are many traders who have more than 1 million dollars in their trading accounts because they know that Forex is very reliable. What you will need to keep in mind is that despite being reliable, it is not easy.
It is more difficult than Binary Options. That is the reason why most people go with Binary Options. Now when it comes to lot size, you will need to understand leverage. So now you can decide if you quit Binary and start Forex, or if you do both! If you want to know more about this topic, we invite you to enter the BLW trading academy, it is 100% free. You will learn wonderful things about trading: https://blwtradingacademy.com/
Pros and Cons of Switching from Binary to Forex
When you start with Binary Options instead of Forex, you will not understand things like what a pip is. You will not understand leverage size, spreads, and so on. You will understand moving averages, support, and resistance, and pretty much even more basic than Forex.
The advantage of switching from Binary Options to Forex is that after 5 or 10 years that Binary may not work anymore, you will have another source of income knowing about Forex. Great right?
So, if you don’t reinvest the money, you will probably have to get a job, so, learn Forex right now! You can quit Binary and start learning Forex to change your life! Do not confuse how to trade Binary Options and Forex, because it is very similar. So, patience is the key in Forex, it is not about just entering and entering. So, with Forex, you will become a better trader!
One of the tips that Cristian gives you is that, if you are starting in Binary Options, quit and go to Forex instead. As we mentioned before, take the training that is 100% free and start making money with Forex. So, focus on what else you can continue to earn money. Forex is a scenario where you can earn more than 5 thousand dollars a month!
It is time to quit Binary and switch to Forex. With Binary Options 100% of people lose money, 98% of them. Profits will obviously be bigger and better with Forex, so this is your best option! Our recommendation is that if you are a Binary trader and you’re making money with it, keep doing Binary. But, start learning Forex, it will help you a lot! We hope that the information we provide you can help you and that you can try the Forex market with which you will benefit much more. Don’t forget to share this article and leave us your opinion!