Binary options managed accounts interest a lot of traders because they take the work and some feel the risk out of the trader’s hands. This isn’t always the case, there’s quite a few important elements to consider when deciding whether or not this option is for you.
Every few days I get asked by traders here at binary today if I would personally manage their accounts for them.
While I’m flattered I don’t offer a service like this and I’m really on the fence about these type of services.
I feel like a binary options managed account from an expert trader could be extremely beneficial to anyone, myself included. Hey, if I could give a chunk of money to someone and have them grow it for me why not right?
Binary Options Managed Accounts & Trust
The problem is, how do we actually resolve who is an expert and who can we trust?
It’s the same problem we face when dealing with binary options scams every day. Now, if you get scammed from an account manager handling your money you can be out of your savings. I’m not saying this is always the case, but I have heard some cautionary tales about people losing their hats from terrible binary options managed accounts services.
In doing some preliminary Google searches for a binary options managed account I didn’t really come up with much. There were a couple of binary options auto trading systems which doesn’t surprise me, these are a dime a dozen in recent months. Then, there are a couple of web sites that claim if you deposit a specific amount with their recommended brokerage that they trade for you and take part in the profit sharing.
While this is how account management at the base level always works, there is really no risk for them to try and go for broke to try and win themselves a large commission.
Binary Options Brokers
Most managed accounts are in conjunction with binary options brokers. Your account representative will tell you to deposit more funds, and in turn they will manage your trading account.
The obvious problem with this is that the analysts working for the brokers aren’t the best traders. If they were, they would trade and not work for the brokers at all.
If you do get sweet talked into using an account manager with your broker, at least ask for proof. Get them to show you verified proof that they have been able to grow accounts. Make sure it’s verified by a third party, and not just some screen shot too.
There’s a lot you can do on your own without binary options managed accounts, so make sure that you are aware of all those choices before you settle in to anything.
Conclusion
The bottom line for me is this. The only way you should be using a binary options managed account is if you have found someone you truly trust. Someone that isn’t going to play fast and loose with your money or run away with the entire lot of it.
Is the internet the place you are going to find someone like this? In my estimation, probably not.
Your best bet is to get your hands dirty and find a way to trade binary options on your own, the right way.
If you ever need help figuring that out, just shoot me an email by clicking Ask John at the top of the page.
I hope this helped you understand what a binary options managed account is and whether or not it is a viable opportunity for you to consider.
Only horror stories anywhere when it comes to managed accounts.
Steer clear of this type of trading, my 2 cents!
That’s how I feel too Devon. Stick to binary options signals or automated Forex trading for more consistency.
Can you send more info?
Info on what exactly C?
I just wanted to know if you offer the managed account service and if so how much money do I need to start
I do not Alex, I recommend trading with signal systems that provide you with trades that you place on your own, https://binarytoday.com/best-binary-options-signals-and-software/
How much minimum amount to fund my account?
For what purpose Tumelo?
I too am thankful that you have taken time to think through this.
The short answer is, No, we have received nothing from them.
The slightly longer answer is the following, just to give you an indication of how much they value their “valued clients” their “VIP” victims.
18-19th April The alleged “Cyber Attack”
This was a Monday and Tuesday, yet no one was informed of this situation until they found out for themselves, when our MAS accounts were made available to us on the weekend! My account manager “Eddie Grant” would have known of this situation, but guess what he was doing, he was working very hard for me to convince my brother to invest, something we had spoken about earlier. My brother was going to take the Pro or Premium. He said the deal was ONLY available that week and if I can send evidence of a bank wire he would negotiate on my brothers behalf and have the deal implemented on the account. Why was he working so hard on this? Why do you think? He knew that come Saturday I would discover my account was emptied! Now does that week sound like tbs/eclipse is concerned for their “valued clients”?!?!?
23 April – That Saturday
The account is emptied. No response from my account manager.
25 April – Monday
My account manager claims to be a victim too and claims that they are having meetings with Eclipse. But he is a liar and is no victim.
2 May – Monday
The TBS profit share is refunded to my account.
4 May – Wednesday
The TBS profit share refund is also “traded” away by ostensibly the same cyber attack. But the fools forgot to change the dates. So even though it was the 4th of May the date of the trades show the 19th and 20th of April.
Also what type of idiotic corporation would place their funds back in what is allegedly a compromised platform now.
But this is why they did it, its just a little too convenient for them, because then we cannot claim that they should send us a portion of the profit share they took from us.
From then on there is silence from all account managers.
9 May – Monday
We victims are ejecting from the “VIP” trading session. Why did that happen? Are we not “valued clients”? Are we not “VIP”. No we’ve served our purpose and they have to make room for new victims.
17th and19th of May – Tuesday and Thursday
After one month, !!ONE MONTH!!, of little to no information from our account managers we finally receive these two e-mails. Which basically give us nothing but the same process that we have been through with them already. An account tied up with trading volume again basically a 6 month waiting period is all they offer. Oh and of course a monthly withdrawal which amounts to no more than $160.
But of course we have not received this. This was offered to all those willing to take down there negative feedback and comments online. So it would appear to be nothing more than a weak manipulative tactic with the most ludicrous expectation. As if we would just jump to it and change all our comments based on a promise from the company which has failed on all the promises they have given us earlier.
Since then there is silence from TBS/Eclipse again.
So no we are not “valued clients” and their customer service is a no star, – 10 on the scale.
The only reason your account manager claims that this has been resolved is so that she can capture you in the same web we are in. They are pathological liars whose conscience has been seared by their greed and lust and they have not a shred of humanity but psychotically give no thought to the cost both human and financial that you the victim will be left with because of their actions. DON’T DO IT!
I’m sorry to hear this story Yojana, thank you for sharing it.
top binary signal and eclipse finance manage account scam my 50k
account in one day when i requist withdrawl they washout my account
and other my friends more then milian $ account been zero in one day they not any reply
Really sorry to hear that Yojana. Wish you found my site sooner.
I have opened a managed account with eclipse finance and deposited 15k in 45 days it is 35k
It’s managed by top binary signal, is this a scam or real?
Hi Himansdhu, to be safe if they have made you 20K then I would try and withdraw it all immediately. I don’t trust managed accounts and if you can get 20K out of this, that would be a big win.
Hi John ,
Always admire your honesty.
I was thinking the other day, as I might be helped by you . Account manager , great ideas .
Another idea would connect via Skype to do trading at the same time , until I learn that trade to avoid.
I think you’re right. It is difficult to trust in someoane from internet .
I will buy software today.
I’ll try it with a free account. I have not found a broker who to trust.
Thanks Mariana, keep me in the loop.