With binary options, and just like with anything else in your life that you are jumping into, you must read, learn and know about the fine prints, because they will be the ones that cause you to lose everything (Including your gains), not the actual investments. And you know this when you try to put in a claim with your insurance companies for your home and your car, or when you are trying to get a divorce, or when you are suing a large corporation. And so trading with binary options are no different beloved, and so I share with you today the most common things to know from the brokerage houses that offer binary options as part of their platform:
17. How can I submit a withdrawal request?
They should have an easy way, either by sending an email request or by phone, and begin the process as most of these brokerage houses are in Europe.
18. Do you offer a welcome bonus?
They should offer a welcome bonus of up to 100% of your first investment. Because they need your business for new money, and they are making millions of dollars per day because of losses by you and others, and even when you are right in your call, they only pay you up to 80%. So get them for all they are worth when you are walking in the door.
19. Why am I receiving a credit card error?
You may encounter a credit card error, so you must first make sure that your credit card is open for online and international transactions. You can check this by calling the toll free number on the back of your credit card.
20. What is an IBAN and a Swift Code?
In order to complete a wire transfer, you will need an IBAN number or a Swift Code. An IBAN is an International Bank Account Number that is used to identify bank accounts. Not all countries use IBAN’s. To find out if you have an IBAN please contact your bank. A Swift Code is a unique identifier for each bank that is used to transfer funds between banks. If you do not know your Swift Code you can contact your bank and they will provide this information for you. So make sure that you have this information on hand soon after you open your account and begin trading binary options, don't wait until you have huge sums of profits in there and now you need money but can't get it.
21. What is the minimum trade amount?
The minimum trade amount should be around 25 USD, GBP or EUR in all cases, except for 60 Seconds trades. On 60 Seconds trades, the minimum trade amount may be lower and around 5 USD, GBR or EUR. Because that is very risky trades for only 60 seconds.
22. What is the maximum trade amount?
The maximum trade amount on the platform should be around 2500 USD, GBP or EUR. On 60 Seconds trades the maximum trade amount should be around 1000 USD, GBP or EUR. Because you must remember that should never place all your money on one investment. And I, James Dazouloute as your business coach, do advise you not to spend any more than 5% of your capital per trade, so you can spread your risks. So if you make 10 trades, that will only consume 50% of your capital, and still leave you sitting pretty, in case you are having a super bad day, and all your investments go against you.
23. What rates are displayed on your platform?
On their platform they should display rates from a live Reuters feed that have been adapted using their Trade algorithms. The rates on their platform are the rates at which they usually are willing to sell the options, and that is only right, but at least they are telling you upfront.
24. What is the minimum age required to trade?
You must be 18 or older to trade online, for legally binding contract and legal purposes.
25. Can I close a trade before it has expired?
Once you have clicked “Apply” you should have about a three second window to cancel a trade. After this you may not be able to cancel the trade.
26. Can I make more then 1 trade at a time?
You should be able to make as many simultaneous trades as you would like. There are no restrictions on the number of trades you can make at any given time. And remember I have already explained the good reasons for this above in number 22.
27. What time can I trade?
You should be able to trade on their platform 24/7, however, some of their options and assets may not be available all the time.
28. Can I open more then one account?
Their normal policy is usually that only one account per trader. This helps them to protect against fraudulent trading.
29. How can I contact the brokerage house for binary options trading?
You should be able to contact them via email, phone or by clicking on their Live Chat option which should be displayed on their platform.
30. I forgot my password. How do I log in?
If you forgot your password you should be able to retrieve it by having them send you an Email, or send you a new one.
31. What are your office hours?
Their office hours should be at least 5 days a week and for a minimum of 8 hours each day.
32. What do you do if you forgot which registered email you used to open your account with?
If you have forgotten your registered email, you should be able to contact them by phone and after they have verified your identity they should be able to provide you with your email address. Happy prosperous Binary Options trading, I wish you my friend. James Dazouloute, Certified Business Coach.
TO READ PART ONE OF THIS GREAT SERIES, SEE:
What Is Binary Options And How To Make Money Trading.
Binary Options... All The Terms You Need To Know.
4 Types Of Strategy To Use Investing In Binary Options.
Top 8 Reasons To Invest In Binary Options To Get Rich
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Super Rich, How To Join Us Today. Part 1 Of 10
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