Binary option payouts are so poor that you cannot possibly win long term. It is just unregulated gambling at terrible odds. Here's how the math works for 70% payout.
Win: 70%
Lose: 100%
Expected value of each trade: (70 - 100 ) / 2 = -15%
You would have to predict over 60% just to break even.
A legit options broker would be registered on appropriate government sites. None of the widely promoted sites are regulated. Many are in obscure countries with no customer protection, with at least 2 widely advertised firms in Cyprus.
US: Check CFTC and SEC sites
UK: See FSA site
The CFTC link below about investing risks applies to both forex and binary options.
One widely advertised binary options site (Banc de Binary) was just charged with securities violations by the SEC. 2nd link below.
Cedar finance Scam Scam Scam!!! I got conned by them! Stay away! Big tine scam! I started wit ￡500 and got to ￡1,500,I tried to with draw ￡1,000 through the e-wallet,I even phoned customer service and they told me that I have to be a playing member for at least 8 weeks before I could start making withdraw from my account! I found that the software was floored! I continued to play with my winnings for more profit's,but could not get past ￡1,500.What a BIG CON! Don't invest with them.You will lose your money...Don't do it.
Any secure binary trading platform website should be script protected meaning that the address bar should display "https" and not "http" Im not sure if it's really a scam but I heard 15 people so far complaining about it on certain forums online.
Certainly a field that accommodates scams, you can find complaints:
http://www.scambook.com/company/view/948...
http://www.binaryoptionsblacklist.com/is...
http://www.binarytrading.org/cedar-finan...
Located in Cyprus?
Is cedar finance a legit site to make money online? It seems decent but the investment that i need to put up is too much for me not to be sure.
