The most honest binary option success story you will ever read

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One thing you quickly learn if you spend any time reading books about trading, is that the path to becoming an accomplished trader is littered with scams. So many of the titles I’ve read over the past few years talk about people falling victim to phoney signal services, trading systems, seminars and   brokers. This seems to be a very real part of becoming a successful trader. People start off believing the hype,that they will get rich quick, and eventually they get sucked in and ripped off. Many quit, but a  few carry on, knowing in their hearts that there is a way to make money from trading. Those who persevere eventually realize that the only way to succeed in trading is through very hard work, many many hours, and a dedication like they have never shown to anything else in the past.

Having gotten to the level where I now trade on a regular basis and am generally profiting from this thing, I’d like to tell my tale. For me binary options were the scam that I needed to stumble into on my way to becoming a moderately successful trader. No, I haven’t gotten rich from this thing, I don’t drive a supercar or own a yacht, this isn’t one of those stories, but I make a regular income and am slowly but surely improving my life. This is why I’m posting my story here as a binary options success story. I didn’t succeed at binary options. In fact I have a hard time believing that anyone ever has, but binary options were an important stepping stone to me becoming a legit trader. So this is in a weird way the most honest binary options success story you will ever read.

I got into binary options at the very beginning, shortly after brokers started offering these up or down trades to retail investors over the Internet. Binary options came around at exactly the time I was interested in finding out whether I could become an online trader. I had graduated from college a few years earlier, had found myself an uninspiring office job that paid my bills and my student loan, but I wasn’t happy with my prospects and I wanted to do more. As an Internet baby I had learned to be very very skeptical of online get rich quick schemes but when I started researching online trading, that’s when I really put myself out there to get mugged. One thing binary options brokers have managed to do better than almost anybody else out there is market themselves. I don’t know how much they spend on Internet marketing but their banners are everywhere, much more so than even Forex brokers I think, and it was the same story back then.

So I eventually signed up with a binary broker that will remain nameless, it’s the one you’re all thinking of, the one whose banners are still everywhere and is always being discussed on this site. One of their “senior brokers” quickly convinced me to put in almost everything I had into a binary options trading account. The guy was a real pro, charming, funny, friendly, managed to convince me that he was giving me special attention because I was like him and he wanted to help me. I feel so stupid saying this but it has to be done. It was almost as if he was flirting with me and I was such a sucker for it because he made me believe that I had finally found the person that was going to help me climb up the economic ladder. Incidentally this is a very important lesson, any time you think you’ve found “the one” (in any walk of life except perhaps marriage) please turn around and walk right away. The only way to get anywhere is on your own, these are the wisest words you will ever have shared with you. In any case the guy was really good at what he was doing and eventually had my initial deposit of 5000 US dollars up to around 7500. The guy just kept making me money. But the thing was he always managed to convince me not to withdraw it. Thinking about it now I feel like I must’ve been crazy, but I listened to him and he “compounded” my returns, making me more and more money but keeping it locked up in my account. Eventually he did let me withdraw 1500 but thinking of it now with a clear head, that was just to build my confidence in him even more, and it was much less than I’d deposited in the first place!!

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His signals were pretty solid, he told me when to Call and when to Put, as well as how much to invest, he also explained why, from an economic point of view, the Dollar was about to drop against the Euro or the Yen against the Pound Sterling. Together we managed to build my balance up to around 12,000. Then he managed to convince me that we were moving up into the big leagues, that all I needed to do was invest another 3000 to bring me up to 15,000, and he was confident we would be able to double it within 6 months. What a fool was. I cleaned out the last 1000 I had in my account and took another two from my credit cards, piling the money in to this binary broker who had given me no reason to suspect him. Even the fact that he frowned on letting me pull money out was balanced out by the money I thought he was making me and the measly 1500 he let me have back. Anyway to cut the long story short the next three months was characterised by a series of “outlier events” that gradually ate into my profits. We ended up losing almost everything except another 500 he let me pull out at some point along the way. So all in all he took me for 6000 dollars, two of which I ended up having to pay back with interest to the credit card company.

It was a costly lesson, but one that set me on a path of discovery that led me to becoming, not an accomplished, but a pretty passable Forex trader. The thing that worked out so much in my favor was actually our lengthy talks. That lying cheat actually ended up teaching me a great deal about the currency markets, binary brokers talk about how you can trade all these different asset classes but most of their attention is on the major pairs, especially EUR/USD, just like most Forex traders focus on these same major pairs. Before I got mixed up with him I knew zero about the currency markets, about fundamental analysis, technical analysis, economic and technical indicators, time frames, Fibonacci sequences, NOTHING. But by the time he had finished taking me for all I had I had passively picked up quite a lot of quite useful knowledge. A lot of it was complete BS as well, this I started discovering as I began looking into the Forex markets on my own. Funnily enough this is what spurred me on. It was like having a silent evil teacher right there in the room with me and as I learnt more I began cutting into all the bullshit he had sold me. I remember the point at which I finally realised that I had learned more about trading than he even knew, it was a very weird moment. That’s when closed my open positions on my demo Forex account and finally opened a live trading account. It has been a long long road, and I only realised that I had been scammed AFTER I educated myself! All along I though he was a good guy and we’d just been unlucky.

So that’s my tale. Of course I can’t share all the things I’ve learned about trading with you here, but I can give you a few useful pointers.

  1. Never accept bonuses, or even trade with a broker whose marketing focuses on bonuses. They are just clever ways to keep your deposits locked down so you can’t withdraw anything.
  2. As far as online trading goes, Forex is the way to go, it’s the most liquid, has the most competition, and has cleaned up its act in the last few years. Yes it’s daunting at first, but it’s not rocket science, the best things in life are the things you work hard for, not the things that come for free.
  3. When trading Forex don’t base everything on how small the spread of a broker is, or how little their commissions are, like bonuses these can be gimmicks to draw you in, instead look at their business model. Are they a dealing desk broker? Do they profit from your losses? If so why trust them?

start earning

“I found my own way and now I trade every day by myself, taking away small profits, but growing all the time.” – Ashlee

My binary options success story was a shortcut by which I feel I avoided loosing a lot more money to other scam artists. If it were not for being ripped off by my binary options broker I may have been roped into a number of other scams before finding my way. Thanks to a phoney trading vehicle and a very charming bespectacled broker with transition lenses I found my own way and now I trade every day by myself, taking away small profits, but growing all the time.

All the best!

Ashlee Young

22 COMMENTS

  1. Hey Ashley! I found your story to be very good for reasons of me being in that SAME predicament. Only difference is this guy claims he knows what he is doing yet, he hasn’t made me or himself any profit. Instead I have been taking quite a lost. So introducing me to this lifestyle has greatly caught my interest in learning more about trading/investing. I feel like their is much for me to learn about a specific binary trading strategy that can make me earn, knowing that withing time it will gradually increase. I would like to know how you are holding up in this industry. Also if you can give more pointers or possibly help me make my own success story it will all be greatly appreciated. If i could find someone to pay i would definitely do it but it isn’t as easy because of trust. But your story makes people like myself trust. Especially knowing that you can relate to a successor. Please donate “KNOWledge” my way. Thank you

    • Hi guys,
      Are any of you able to tell me what platforms you are using. I am experiencing this as well.
      I just want to know if these so called VIP account managers have any proven trading success??? whenever i spoke to my account manager the focus was on growing my account – depositing more – giving me 150% bonus – telling me that the turnover doesnt matter because we’re going to trade bigger volumes etc etc and make more profits….. I guess you guys know the “tune”.

      I would just like to know more details about your experiences to just see how similar it is with mine
      thanks

    • Involved with a binary option site….UKoptions.com
      That has placed a “forbidden” message to access their site…just because I criticized their behavior in not answering any support messages..including my broker!
      I have investments in this site…can they do this?

      Everett Freed.

  2. I have been receiving emails from oversea about join binary company.Making lavish promises about winning and getting rich with a very as there’s one that even says you only lose two dollars if you make a loss. With me being a virgin toward the trade I would like for someone to please pass on some information and knowledge to help me get started on my own. II don’t want to be rich I just want to be comfortable thank you anyway I could help I would appreciate it very much. Because at the end of the day I’m still a working man too

    • there is no one main step in binary or forex success. you to invest time in learning the markets. best thing to start learning is price action, support and resistance, learn what trends are and what candle stick patterns are. Find nice tutorials and start reading. open a demo account, trade for a few months and when ur ready go live.

  3. Been there, done that built up to $45,000 they asked for more $10,000 a refusal and the closed the account, they changed the access password and no more can communicate.

  4. Hi Ashlee,
    My story almost parallels yours, and there is round $50,000 floating round out there that is just gone!
    But like you I believe binary options is the way of the future, and I am starting to get a handle on it.
    As you said this NOT a get rich quick business.
    Study, study, study is the thing, then get a demo acc and practice, practice and more practice. When your I T M rate is 70% or better
    Then and only then open a live acc.
    Best of good fortune to you.
    Regards
    Roger

  5. I’m trading with 24option now and I was told that the more I trade and make money, the happier they are as they get a percentage of each trade from their liquidity provider. Now, I’ve read that some brokers are not happy having people win all the time. I’m very new to this and I’d like to know what to expect.

    Did you guys use 24option? How did you find it in long term? They seem really professional!

    • Hi Gabriel
      The truth is the more you trade, the greater your chancing of losing an every time you lose a trade is when the broker makes money. So, the way forward here is to trade as little as possible, which begins with a trading plan with a clearly set goal to achieve within a specified time, the dos and don’t like any serious business and the sheer discipline to stick to your trading plan.

      Also, forget about “get rich quick” because you’ll try a million times even with a million dollars and you still won’t get rich quick from it. But rather it’s a get rich slowly kind of thing where you can consistently make a reasonable 28 – 40% monthly ROI by placing 5% of your account balance per trade with just 2 – 4 trades at most every week.

      Yes, that is how I trade. First master just one single strategy and be self disciplined, as well as have the investor/business mindset and stick to that exactly. I use support and resistance only and have had quite a good success rate with it.

  6. Hey guys, Binary options are bunch of cheaters,almost all the Financial Authorities are share holders .you have to be a super geek straight from Matrix to hack their system to make real money. Just imagine,why anybody would pass the secrets of making wealth,especially by sharing their own cake..they are here to make millions at the expense of people who get carried away by their professional liers,who are paid a percentage of money they manage to cheat every single day. Please don’t be fooled and stop spending hours of valuable time and energy…..money and peace in your life. Work hard,,,Live smarter,,Retire in peace……..enjoy good life..

  7. Hello guys,
    personally i think binary option business has no problem. The trouble lies in the hands of those who run acertain platform. i have never participated but iam following the trend.i have been monitoring how these platforms do their work. I live in uganda Africa and most plafforms are resident of other continets like europe and America.It attracts very much doubt for aperson to deal with abusiness which u feel its very hard to access offices.Hence rendering the business untrustworth.If these binary options change away of working like they can go deep into every trading center they start providing services like Banks do. this will peomote genrously.THIS WHAT iam working from my country. Thats the only way we can trust this kind of trade.Thanks.

  8. Hello Ashley, I too have had a similar story. I was trying to use “managed” binary option accounts to recover from losses from a downward oil market. At present, I’m still dumb struck with my own stupidity and half crazy with fear and anxiety as I try to find a reliable path to financial recovery. A job is good but will not cut it. I need to invest more wisely as well as keep a job. Toward that end, I’d like to reach out to you and hear more of what trading you are doing. Please respond. Sincerely, Scot

  9. I lost nearly US$4000 from 2012 before I was able to figure out how to profit from Binary Options trading. I quickly fell into the “get rich quick” with the ease of binary options trading trap because my initial perception was that it’s very easy. But I finally realized not long ago that it’s more about the trader’s psychology than anything else. And that there’s no way to succeed at it if you’re not disciplined already or willing to cultivate discipline in trading.

    I’ve not use signal providers before and will never use them. And as for account managers and so called experts from the brokers, I realized very early enough that they were just there for one purpose – TO HELP YOU LOSE MONEY! And nothing else. After all, I learnt the brokers rather make money on your loses and instead lose on your wins. So I always tell whoever calls me to make a deposit or make any kind of offer that I simply don’t need them and that I trade on my own terms.

    As I said before I’ve never and will never use signal providers because by trading on my own from day one I’ve found through trial and error a very simple strategy that works most of the time. And that is to find an asset using the 15 minutes candle sticks that clearly shows support and resistance points over at least the past 3-4 hours. Then I simply wait for the price to near or break the support or resistance point and place an opposite trade with a 30,45,60 minutes and above expiry time. I find such trading opportunities around 5:00 am GMT and 10:00 am GMT or from 16:00 pm GMT to 20:00 pm GMT. I’ve noticed that the less volatility in the market, the less the chance of the asset’s price continuing with an uptrend or downtrend without reversing. So in very volatile markets it’s best to increase the expiry time or simply follow the trend with shorter time frames. It always happens that the expiry price will be way way from the entry price such that the broker cannot even manipulate the expiry price to cheat you out of a win, which most traders do if the expiry price is just a point or two from the entry price.

    Remember, it’s not 100% surety

  10. I posted my binary options trading experience here, hoping to share with others but I can’t see it here, so I’m posting once more.
    First, I don’t think transitioning from binary options trading to forex trading where you’re finally making some profit by trading on your own now can be deemed as a truly honest binary options trading success. Because, as you said, you relied on the account managers and signal providers to trade binary options, whose job is simply to rip you off. Yes, all so called signal providers or account managers from the broker you’re trading with, who calls you and impress so hard upon you to make a deposit and trade are all but crafty thieves to take your money from you. One lesson I quickly learned in trading psychology – to detach yourself from the value of money – is also true in that, “Once you make a deposit, it’s already money you’ve lost to the broker.” You’re then faced with the task of employing the right trading skills which is akin to any sensible business approach/ investment approach to turn returns from that lost deposit. It’s a “you lose I win between you and the broker and you.” The black and white truth is brokers profit from your losses, because all that money that you lose goes straight to the broker and enrich them. That is the reason why they design all this trappings of an easy, get rich quick, have the luxurious life kind of deceptive advertisement to catch gullible, not smart so called traders who thinks on the one hand as it being an investment but on the greater side simply gamble their hard earned money and also get carried away by so called account managers or signal providers from the brokers. That is bullshit.
    So, you simply fell for this trap but only that you were just a good student with whatever information the so called account manager had to teach you so he could rip you off, but in fact, that information is easily obtainable free of charge online. This does not count for an honest binary options success story.

  11. I have lost almost everything i started with, please i need to get back all my losses, I’ll appreciate anyone who can help me do this

  12. So I have started with a demo account on IQ Option (I know they are a scam but the platform is really great)
    I’ve managed to make around £150 in around 2 hours 20 mins and I made sure not to get my emotions involved. I bid around £10 and so its a slow process for me but if I had a live account I wouldnt be investing more than that. I want to make a live account so can anyone tell me which platform I can should use? Most of them are scams and you cant withdraw money so I wanted to know if theres any platform you guys have used and have been able to withdraw your money? If so please tell me, thanks!!

    • IQ options are not a scam i have been able to withdraw my money with no problems…
      They dont keep nagging you with silly phone calls

  13. Great comments and I have been nagged by my broker to add 5k or if I am serious 10k
    Hi normal clients have around 100k but he is make speacial case for me!! he has around 200 clients yadadada you know the story

    First let me give you a few tips I did

    I asked him to increase my account again as the first time he did it could be fluke
    I then said I would sleep on it – this really annoyed him!!
    I then spent all weekend searching internet stories and comments like this board
    I did a few sums in my head 200 clients x 50k each one on average why talk to me with $250
    I recapped all he said slowly in my head over a few coffees ands realised his story kept chamnging just a little ie add $10k for a $7k bonus and ill make rich – then it was add £10k (sterling) to get $3k – $7k and ill mak you rich!!

    Why if he is so good is he talking with me!!! I am a coffee drinking middle aged male – generally dont know many people outside of my town. ie im normal!! not the next Warren buffet as he said I mmight be LOl

    I kick myself for being so foolish and wasting my time listening – but thankfully it was my time that was wasted not money
    I put this in google to find this page so Ill add it below and google might find it again

    why does binary broker want $5000

    Then I just got an overiding gut this was not right yet it was greed pulling me in !!! – if this happens stop – you have waited all your life for this so called oppoprtunity – what will another week or two matter.

    One you will see sense and two you will probably make th eright decision and realise he/she is an snake oil charmer.
    whish i could post the name of broker!! but that would prob get post banned – beware

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