Today I had a really difficult discussion with one of the Binary Today readers and it raised the question “can you trust binary options account managers?“
There is no 100% yes or no, but I know I wouldn’t.
I have heard too many horror stories, and this email conversation I had today with one of my readers who will remain unnamed had a very difficult and potentially criminal mishap.
Binary Options Account Management Risk
Reader: Compliments on refreshing insight into BO. I’m a hobby BO trader from Australia and in the last week a UK BO broker, which my trading account is with, convinced me to accelerate my trades by him taking over the account. Having had a working relationship with this broker over the past 3 months and having successfully traded a volume of US$600K from my initial investment of US$40K, I allowed him to jump into my account. In one session he traded my entire account! What remains from my $40K investment is $29.10.
I have had sleepless nights and only blaming myself but still know that there are half-decent, selfless people left in the world. Hopefully through research I have stumbled across a genuine, informative site, binarytoday, that I can pick up the pieces and start to trade again.
I will be saving my pennies and investing in your recommended software and go back to what I did best, which was small but rewarding, and not jump into the shark tank thinking I’m invincible, or the broker for that matter.
As much as I would like to completely rubbish this Broker I really only have myself to blame, sort of! I’m still in partial negotiation with them and hopefully they can deposit a bonus back into my account seeing that they had such a huge trading volume. Surely there’s a kickback for them with this trading volume.
My theory is, that if they traded the direct opposite with another account, they would have doubled their trades. So another account is in the plus and mine’s in the minus. Do this with 200,000 plus accounts(which they claim) and you can see how the funds roll in. This madness would certainly work in their favour. I just don’t understand enough on how these brokers work. They’re certainly in business to make money, not give it away! It’s as if they are the Casino and the house always wins a certain percentage.
That’s why I’m leaning toward your methodology and making informed trades via signalling software and research. This is how I started with my broker until the broker said he can trade more efficiently by taking over the account, rather than advising me of upcoming trades.
My Thoughts on Account Managers
I don’t have any experience with account management in binary options myself, I prefer doing things on my own. I just don’t trust people when it comes to money and I do everything I can to avoid binary options scams.
I’m sure there are some great account managers out there but if you are ever getting an offer like this you should think twice and do your research. Maybe set guidelines on how much this manager can risk in your account and interview the manager to make them prove to you they have what it takes.
This story isn’t the be all end all when it comes to binary options account management but it should ask as a stark warning of the risks associated when you trust your account with strangers. Don’t take risks, play it smart and believe in yourself.
Is numero trades legit
Really doesn’t seem like a legitimate binary options account manager exists. I’ve hunted, and your article is the only honest thing I’ve read in all my studies.
I appreciate that, and I will go through some of your recommendations here to see if there is a way to grow my accounts. I am growing tired of having to analyze the charts and trade on my own all the time.
Thanks for the advice.
Hi, do you know someone where i can invest money and trade for me? thanks
Hi Kaizer, I do not. I recommend signal software, you receive a signal, you place the trade. Read more on it here https://binarytoday.com/best-binary-options-signals-and-software/
please suggest me a 100% legit Binary trade manager….
suggest me his Facebook id.
I have not come across a binary trade manager that I trust.
Please send incase you get one help me with his name
Hello John Kane,
I read your comments.do you have any idea about Brendagarethtrading.
she said she is account manager and she is telling m she will run my account and i will have full access to it.he keeps 20% of the profit and i get 80% should i consider this a scam.he said I can start by as little as $500? Please help me
Never heard of it, and I don’t recommend it.
Where did you come to learn of this person. Did they spam in the comments of some binary video on you tube? Did they have a specific broker?
What will you say about the IMAREKETLIVE (IML) …?
A person Called Gray, Is promoting the Imarketlive .. he said we can earn more in this plateform..
please suggest is this trustworthy or not?
I’ve never heard of it Uzair, I’ll look into it for you.
Do u know something about Myperfectoption?
Mr Solikin and Mr Henderson?
Hi Badia, I’ve never heard of them. Maybe I’ll do a review in the next few days. My first impression is that the website is unprofessional and poorly put together.
Hey John, you mind checking out Pocket Option? Good looking site and software. New and accept US traders. Something I found fishy was the high payout structure of 96%.
D’angelo, please go to the front page of the website from time to time where I put new reviews. I wrote a review on Pocket Option a few days ago, see here https://binarytoday.com/broker-review-pocket-option/