Forex brokers!?

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Forex brokers!?

Postby bahamian:bucfan » Wed May 30, 2018 10:10 pm

Hi everyone and God bless you all!

I need some help/advice.

My brother in law told my wife about how he is making money trading stocks, commodities, etc online. He told her that he has made a good amount of money since December of 2017. He then went on to say that he did this with a company called binaryonline.com.

My wife came to me with this and I was intrigued because I always wanted to get into this but never. Anyway, I did my homework and binaryonline.com had a few red flags that did not sit rite with me (only started in 2016, not regulated, registered in Bulgaria, high start up cost, etc). Now my brother in law does not mess around when it comes to his money so I'm thinking that it may still be worth a try. But, because of those red flags I did not sign up.

Have any of you heard about Binary online and has anyone had experience with them?

Upon further research, I came across more reputable companies like forex.com, and Oanda.

My background is that I have 0.00% experience in this. I am however a good entrepreneur, and I have a pretty good analytical mind.

So out of Forex and Oanda, which would you recommend (and why)?
What is best to trade commodities, currency, stocks, individually?

If there is any other information and or advice you can give me; please share.

Thank you.
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Re: Forex brokers!?

Postby Zarniwoop » Wed May 30, 2018 10:24 pm

I don’t think the binary option sites actually have you buying and selling securities. I’m pretty sure it’s simply betting on stock prices ... not very different to gambling on sporting events



If you are looking to do actual traditional buying and selling of securities why not just use a reputable site?
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Re: Forex brokers!?

Postby bahamian:bucfan » Wed Jun 06, 2018 10:07 pm

Hi,

Is there any one else that can help me with this?

Thank you.
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Re: Forex brokers!?

Postby Deja Entendu » Thu Jun 07, 2018 5:49 pm

From what I understand, Zarni is right. It's basically wagering on stocks, not investing in them. I've read that it's pretty risky and that "the house always wins." That being said plenty of people still win money gambling, and a lot of times investing is just a gamble anyway.

Sorry that doesn't really add much, but I didn't want to leave you hanging haha
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Re: Forex brokers!?

Postby Deja Entendu » Thu Jun 07, 2018 5:49 pm

You should also check out Reddit for more opinions.
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Re: Forex brokers!?

Postby Cheb » Thu Jun 07, 2018 9:15 pm

I dont know about binaryonline. My admittedly cursory research makes it look pretty shady. Besides, I'm always wary when someone tells me they've made alot of money and want me to jump onboard, particularly if the person telling me is family. Mix family and money at your own risk.

If you want to get into investing, Robinhood is a good app to dip your toes in the water. No commissions, no minimum deposit, used by millions of people. Pretty solid company. I suggest you buy stocks from large and established companies to give yourself a solid foundation, then day trade to your heart's content.

Good luck.
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