Binary Options Millionaire – Is It Possible

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Broker!
    Perfect for beginners!
    Free Demo Account! Free Trading Education!

  • Binomo
    Binomo

    Only for experienced traders!

Binary Options Millionaire

The question of whether a trader can become a millionaire by trading binary options is one of the controversial questions that dominate marketplace discussions on online forums and review sites. When you consider the fact that people like George Soros and Warren Buffett made their fortunes almost entirely from trading financial instruments, then the answer to this question is “Yes”, but with substantial caveats.

Note though, that while it is possible on paper to become a binary options millionaire, the practicality of it is something that many traders will find hard to achieve. But we can nevertheless walk you through what it would take, and you decide whether it appears possible for you or not.

Building wealth from binary options trading, or indeed, any form of trading for that matter is not a day’s job. It takes patience, time and a well-structured plan, probably over a number of years, to achieve. As with all investments, a strategy to get rich on trading will be based on “compounding”. Take a look at this Excel document (which has been modified from the original by forexoma.com). It details a 5-year plan on how to become a binary options millionaire with a starting capital of just $500.

I am sure you are blown away by the figures. By the way, the excel spreadsheet is built in such a way that you can play with the numbers as you wish. You can adjust the initial capital, adjust the time frames, the percentage returns you wish to make per month, etc.

This is a plan which demands patience and lots of discipline. If the figures are truly outstanding and look achievable, why are many traders not there yet? The reason is simple. Many traders do not mitigate their risk. They aim for home runs in their trade, looking for that one huge payday. They look at the glamorous cars they can buy with the huge payout, or the things that money can buy and cannot deny themselves the lure of instant gratification. Slow and steady will always win the race when it comes to trading.

Compounding Builds Wealth

The hidden principle to achieving what you see on the spreadsheet is compound interest. Albert Einstein called it the 8 th wonder of the world, and he was right. Compounding means that a little can be turned into a lot, and the higher the amount you have to compound, the greater the corresponding percentage of increase that amount will bring.

Look at the spreadsheet again. The starting capital is $500, and the rate of return per month is 15% which is $75 for the first month. There are 20 trading days a month. Using the lowest possible risk will get you there. The key point here is risk control.

You can become a binary options millionaire even with the lowest possible risk. The first step is to start. Get $500 and start compounding it dutifully and faithfully for the next 5 years and see how far you can go with this plan. You are free to customize the plan as you wish, but do not negate the principle of controlling your risk factor to the barest minimum.

Obviously, any plan to amass millions is no better than the trustworthiness of your broker. Below is the top brokers we recommend trading with, but you can also compare all trusted binary options brokers here.

Can binary options traders become millionaires?

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Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Broker!
    Perfect for beginners!
    Free Demo Account! Free Trading Education!

  • Binomo
    Binomo

    Only for experienced traders!

No, never in my case. Do you know how binary options work and how brokers make money? If you knew, you wouldn’t have asked this question. Don’t worry lemme tell you how they work.

-You don’t get paid by market, the brokers pays you.

-The brokers only make money when you lose.

-Broker can easily make you lose or manipulate your order cause you are trading on their platform.

-Some brokers will try to make you lose or others will simply ban you. Even if you start making 2000+$ per month you are useless in their eyes, they will add you into blacklist. They don’t need winners, their business run by .

Binary Options Millionaires – Real Or Fake?

We have all heard these ‘binary option millionaires stories’: someone started trading binary options a week ago, and now they are a millionaire. But are these stories true? And if so, can you repeat them? Let’s take a close look at what you can expect when you start trading binary options.

In this article, you will learn:

  • Why The ‘Get Rich Quick’ And ‘Millionaire’ Stories Are A Myth,
  • Why Binaries Remain A Sound Investment Vehicle
  • How To Achieve Long Term Success.

With this knowledge, you will be able to start trading binary options with realistic expectations and achieve long-term success.

Millionaire Myths: Get Rich Over Night

Stories of people who got rich with binary options are generally intended to mislead, and stories of those who got rich overnight are of little help to new traders. We recommend ignoring them because they all fall into two categories: lies and luck. Let’s look at both types a little closer.

Type 1: Lies

As with any advertising statement, some get-rich-quick stories are just lies. Untrustworthy brokers made them up to attract gullible traders. Likewise, marketers will create these millionaires to encourage them to join the immoral brokers.

Brokers that use such tactics are not to be trusted. If they lie about the success of their customers, they probably lie about other aspects of their business, too, including such essential aspects as payouts and available assets.

Of course, it is difficult to tell for newcomers to the binary options world whether you can trust a broker’s stories. Our pages on how to avoid scams highlights the tactics used. There are enough genuine, honest brokers around, so that traders can walk away from a firm should they have any doubts whatsoever.

Type 2: Luck

Some great success stories are the result of sheer coincidence. Simply put, when enough people do a thing, all outcomes will happen – including great luck.

Assume a coin flip tournament with 1,000 starters. After the first flip, there will be 500 players left, after the second flip 250, after the third flip 125, and so on. Soon, there will be only one person left.

Now, if this person has bet all their money on every flip, they will be incredibly rich. The coin flip provider will use them as a poster child to market the quick and easy money you can make by flipping coins. Their success, however, is neither a result of a great investment tool nor their genius nor of a great strategy.

Millionaire Success Stories

Their success is merely a consequence of the odds: when enough people do something, someone will have incredible luck. Some people have survived 13 plane crashes or a fall from a skyscraper. But does that mean that you should try to repeat their actions? Hardly.

If you tried the same strategy, you would fail. There is a fifty-fifty chance that betting all your money on every single coin flip would ruin you with your first trade. If you get lucky and win the flip, you would face the same odds again. Even if you are a lucky enough to win ten flips in a row, the 11 th flip would likely ruin you.

The same applies to binary options. People who make a lot of money in a short period used an unsustainable strategy and got incredibly lucky.

Broker Tactics

There is a rumour that some brokers use this knowledge to their advantage. They give many of their employees £10 to start trading and require them to invest everything on every trade. Most of their traders will lose this money, which means that the broker gets it back. Sooner or later, however, one employee will be lucky enough to win enough trades in a row to become a millionaire.

The broker can use them as the poster child for their next advertising campaign. On the other hand, brokers do not really need to use such questionable methods. Once they have enough customers, one of them is bound to create such a story.

The point is: people who got rich overnight with binary options failed to use a strategy that could generate long-term success. While they got incredibly lucky, you would be foolish to bet your money on the same one-in-a-million chance.

Luckily, there is a better option available.

Using Binaries Long Term

Let’s be honest: if there were an investment tool that would turn out millionaires overnight, everyone would use it. As we have explained, these millionaire traders are generally nothing more than a marketing scam.

That, however, does not mean that binary options are a bad way of investing. Just like stocks will not make you rich in the blink of an eye, nor will binaries. But a solid long-term strategy can nonetheless create great profits.

The main ingredient of long-term trading success is a trading strategy. With the right strategy, you can successfully trade many types of assets. The great advantage of binary options is that they offer more profitable investment tools than any other type of asset.

If you want to get rich with binary options, you can. But it will not happen overnight. What you need is a solid strategy, long-term commitment, and the right knowledge. Let’s look at all three of these aspects.

Binary options success factor #1: A solid strategy

To successfully trade financial investments, you need a good strategy. Random investments will quickly ruin you. A strategy defines when you invest, how you invest, and how much you invest. It also contains a plan to monitor your success and keep improving.

One of the most important points of a successful strategy is that you invest a small percentage of your overall account balance in every trade. When you invest between two and five percent in every trade, you survive losing streaks and gradually grow your capital.

Traders who became rich quickly lacked a good strategy because they necessarily invested more than a few percent of their money in every trade. When you invest half of your money in every trade, you have a small chance to get rich quickly, but the infinitely more likely outcome is a failure.

Even the best binary options traders only win around 70 percent of their trades. That is easily enough to make money – just like winning 70 percent of all coin flips would be enough. However, when you are unable to guarantee that you will win every single trade – and nobody can guarantee that with any kind of financial investment – you have to plan for losses. Sometimes, you will lose three or five trades in a row; sometimes, you might lose ten trades with only a few winning trades in between.

If you bet too much on a single trade, you will soon end up bankrupt. This is why a get-rich-quick scheme is a bad strategy, and why you should invest for the long-term.

This website provides a wealth of information about trading strategies and the right approach to the market. Use it, and you will enjoy long-term success instead of quick failure.

Binary options success factor #2: Long-term commitment

Learning a new skill takes time. Trading binary options is the same. There is a lot you have to learn about the different binary options types, your own personality, and the market itself. In a world where financial advice is freely given but rarely well-thought-out, you have to learn how to separate trustworthy sources from those that only want your money.

All of this takes time, effort, and commitment. Nobody learned to speak overnight, and learning to trade takes just as long.

Of course, talent is an issue, too. On the other hand, binary options offer so many different trading styles – from mathematical to pattern recognition, from very safe to highly risk – that almost all traders should find a style that matches their talent. Once again, this site and our strategy guides can help you with this job.

The rest is up to you. Invest the time and the effort, and there is a good chance that you will see great results. Because most traders offer demo accounts that allow you to trade completely risk-free, you have nothing to lose.

Keeping a trading diary can help you with this job. Write down why you made a trade, which tools you used, and which environment you were in. Monitor your success over time and find the things that work well for you. Eliminate everything else.

Binary options success factor #3: The right knowledge

Maybe the most important aspect of binary options success is the right knowledge. We have mentioned this point a few times, but we can’t stress it enough. Find a trustworthy source of knowledge and never stop learning.

With this site, you have made the most important step along the way. Come back, read our articles, and try the strategies we recommend. You will soon find the trading style that is right for you.

Conclusion

Like any type of work, becoming a successful binary options trader requires hard work. While it is possible to get rich overnight, good strategies focus on long-term success. Get-rich-quick schemes work for one in a thousand traders; the rest will end up broke. Ignore these stories and focus on the one thing that can bring you success: hard work.

Here’s what you do:

  1. Learn from the right sources.
  2. Apply your knowledge with a risk-free demo account.
  3. Once you know how to make money, switch to real-money trading.
  4. Keep improving.

Follow this approach, and you will be better off than chasing impossible promises.

Is it Possible to Become a Millionaire while Trading Binary Options? Part 1

The primary reason for trading binary options is to make money; this type of trading appears to offer the potential to make a significant amount of capital without having to raise a huge amount of capital upfront. Many people who start trading are inspired by the idea of becoming rich, but they fail to complete their research and make bad trades. Those who have learned from their mistakes and have gained a large amount of experience trading binary options are generally very successful and are using several brokers to build their wealth. This ultimately leads to the question of whether it is possible to become a millionaire through binary options trading.

There are a great many online forums which revolve around this topic. The majority of the forums have several members which will provide a range of tips designed to help other traders reach the magic goal of becoming millionaires. Of course, these are simply discussions and tips, there are no guarantees offered and many people are left wondering whether this target is realistic and achievable.

Are There People Who Have Made a Million From Trading Binary Options?

The first step is answering this question is to understand how binary options trading actually works:

Binary options are financial products, in the same way as stocks and shares; they are controlled and regulated in many countries through the same financial controls that the country uses for other financial investments. In fact, they are legal around the world by default; a lack of regulations making them illegal allows them to be traded across the globe.

They are a very simple form of investment trading which has received a massive increase in publicity over the last few years; this has resulted in many more people trying to trade in binary options. The process involves predicting whether an asset will rise or fall in price within a set timeframe. If it does as predicted then you will receive your investment back plus an agreed percentage return. If it does not reach the predicted price you lose our investment. In the past this kind of investment has been associated with gambling, however, to successfully trade it is essential to understand the various assets and the way the market works; this is not the same as placing a bet in your local betting shop!

Experienced traders will often choose to trade in short time periods as this can provide the fastest profits and allow multiple trades in one day. Of course, every trade has its own set of risks and it is essential to have your own set of rules which you stick to; this ensures you do not continue to trade simply to get a return on a bad day. The best traders know that some days will not go well, but they stick to their strategy, watch the market and learn from their mistakes. Although you will be trading on the movements of the stock market, you are not trading on the stock market; you do not need to purchase shares, just options which summarize share movements.

Is It Possible to Make Millions While Trading Binary Options?

How much money can you make trading binary options? The ultimate goal for anyone getting involved in trading binary options is to make profits. The most obvious question for any beginner is, does trading binary options really make money? If it can, how much money can you make off trading in binary options? We will explore various dynamics in a bid to find answers to these questions. Binary options trading needs to be looked at objectively when trying to judge whether you can make money from it. They are a lot of myths and misconceptions going around about binary options.

IMP NOTE:

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My Recommended Brokers

Is It Possible to Make Millions While Trading Binary Options?

Instead of talking about whether you can make millions off binary options trading, let’s explore the probability of making millions trading in binary options. First, the binary options traders you trade with making money through your losses. That aspect screams louder than anything else that the probability of making millions trading in binary options is almost zero. There are a lot of unverifiable stories of binary options millionaire. Those could be binary options brokers advertising they sited though.

That’s the probability though. There is still a possibility that you could make millions though. Hypothetically it is possible to make millions in binary trading. This is also under the caveat that your trading works out all the time. Unfortunately, the chances of any strategy working out consistently enough to make you a binary option trader millionaire are pretty slim.

The maximum amount you can trade in binary options differs from broker to broker. At most, it goes up to $2000. To get to a six-figure, you would have to win your trades for quite a while consistently. While that may be hypothetically possible, you and I know its realistically impossible. Also, if you take a look at the statistics depicting the earnings of traders on various platforms, the thought of making millions trading in binary options becomes far-fetched.

For instance, one of the binary options brokers records average earnings per trader of $1217 per month. It would take over 800 months, or 68 years to make a million. The energy and skills invested could be more useful somewhere else as far as making a million is concerned. Keep in mind it is difficult to profit from binary options trading if you don’t have skills. The systems are set against anyone treating it as gambling. Anyone making over $1000 trading in binary options, must have good analytical skills.

No matter how enticing and caring the brokerage firms seem, they are also there to make money. They make money when you lose. It is, therefore in the best interest that you lose. If everyone on the platform was winning, they certainly close down. They are operational because a big number of the traders on the platform are losing.

Having said all that, that does not mean you cannot make any money trading binary options. There are professional binary options traders who make decent money. You got to have the right strategy though. You are doomed to fail if you treat it like gambling.

So, how much money can you make with binary options? Let’s find out!

How much money can you make trading binary options?

It is estimated that only 5% of the people who engage in binary options trading profit from it. That seems like a small percentage. It is still a considerable number of people, considering we are talking about people from all over the world. So, if you were lucky or skilled enough to be among the 5% what’s the maximum amount would you make from it?

To get a better picture, let’s consider two real binary options brokers.

My Recommended Brokers

Broker Min Deposit ($) Min Stake ($) Max Payout (%)
IQ Option 10 1 95 1st Choice
ExpertOption 50 1 95 2nd Choice
Olymp Trade 10 1 92 3rd Choice

IQ Option

IQ Option is arguably the largest binary options broker today. It boasts of over 25 million subscribers. The Seychelles-based broker is licensed and regulated by Cysec. The minimum deposit on IQ Option is $10 and the minimum investment is $1.

The large number of people, is because of the low entry threshold, and the low investment amount. IQ Option is one of the binary options brokers that many people believe they can profit from. Unfortunately, many of the traders on IQ Option trade with small amounts. It is going to be difficult to rack up winnings from $1 investments , until they reach one million.

Raceoption

Raceoption is currently recording trader earnings of $1.9 million in a month and has 1570 traders on the platform. That’s average trader earnings of $1217 a month. Well, a majority of the traders are losing (that’s what we have established).

Let’s say 10% of the people on the platform are winning more than they are losing. That would be 157 people winning. If the total trader earnings are $1.9 million, then the average trader earning per month for those winning would be a little over $12000. That impressive! Of course, the figures could be higher or lower depending on how much people are actually winning, and the spread.

Binarymate

Binary mate claims to be recording a little over $3 million in trader earnings, while it has a little over 5000 traders on the platform. That’s an average of $600 per trader per month. Let’s take the global percentage of people profiting from binary options trading, in this case, the 5%, since it has more subscribers than raceoption. If only 5% of the traders on Binarymate are actually winning, that is 250 people. The average earning for them would roughly be $12000. Quite similar to Raceoption above. You expect the exact figures for each of the traders to be different depending on the spread.

The figures above indicate that you could be making anything between a few dollars and tens of thousands of dollars depending on your winning rate. Actual statistics show that the highest earners on the binary options brokers’ platforms earn somewhere between $3000 and $5000. More people than the 10 or 5 percent could be winning making the actual figures more spread out. Therefore, it is certainly possible to make decent money from binary options trading.

As already mentioned, the high earnings take practice, discipline, high-energy and skill. Without these, your best bet is probably a few hundred. You probably lose for quite a while before you get to the high earnings. Keep in mind that it doesn’t make sense that the binary options brokers should help you win when they earn when you lose. Regardless of how legitimate they are, you will probably always lose if you depend on their advice alone. That does not mean you cannot win. If you are smart, persistent and patient enough, you won’t have to lose a lot, and you’ll probably get into the winning bracket with time. Hope you are better informed. Happy trading!

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Broker!
    Perfect for beginners!
    Free Demo Account! Free Trading Education!

  • Binomo
    Binomo

    Only for experienced traders!

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Broker Min Deposit ($) Min Stake ($) Max Payout (%)
IQ Option 10 1 95 1st Choice
ExpertOption 50 1 95 2nd Choice
Olymp Trade 10 1 92 3rd Choice