Binary Options Millionaire – Is It Possible

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Trustful Broker. Recommended Only For Experienced Traders!

Binary Options Millionaire

The question of whether a trader can become a millionaire by trading binary options is one of the controversial questions that dominate marketplace discussions on online forums and review sites. When you consider the fact that people like George Soros and Warren Buffett made their fortunes almost entirely from trading financial instruments, then the answer to this question is “Yes”, but with substantial caveats.

Note though, that while it is possible on paper to become a binary options millionaire, the practicality of it is something that many traders will find hard to achieve. But we can nevertheless walk you through what it would take, and you decide whether it appears possible for you or not.

Building wealth from binary options trading, or indeed, any form of trading for that matter is not a day’s job. It takes patience, time and a well-structured plan, probably over a number of years, to achieve. As with all investments, a strategy to get rich on trading will be based on “compounding”. Take a look at this Excel document (which has been modified from the original by forexoma.com). It details a 5-year plan on how to become a binary options millionaire with a starting capital of just $500.

I am sure you are blown away by the figures. By the way, the excel spreadsheet is built in such a way that you can play with the numbers as you wish. You can adjust the initial capital, adjust the time frames, the percentage returns you wish to make per month, etc.

This is a plan which demands patience and lots of discipline. If the figures are truly outstanding and look achievable, why are many traders not there yet? The reason is simple. Many traders do not mitigate their risk. They aim for home runs in their trade, looking for that one huge payday. They look at the glamorous cars they can buy with the huge payout, or the things that money can buy and cannot deny themselves the lure of instant gratification. Slow and steady will always win the race when it comes to trading.

Compounding Builds Wealth

The hidden principle to achieving what you see on the spreadsheet is compound interest. Albert Einstein called it the 8 th wonder of the world, and he was right. Compounding means that a little can be turned into a lot, and the higher the amount you have to compound, the greater the corresponding percentage of increase that amount will bring.

Look at the spreadsheet again. The starting capital is $500, and the rate of return per month is 15% which is $75 for the first month. There are 20 trading days a month. Using the lowest possible risk will get you there. The key point here is risk control.

You can become a binary options millionaire even with the lowest possible risk. The first step is to start. Get $500 and start compounding it dutifully and faithfully for the next 5 years and see how far you can go with this plan. You are free to customize the plan as you wish, but do not negate the principle of controlling your risk factor to the barest minimum.

Obviously, any plan to amass millions is no better than the trustworthiness of your broker. Below is the top brokers we recommend trading with, but you can also compare all trusted binary options brokers here.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Trustful Broker. Recommended Only For Experienced Traders!

Can binary options traders become millionaires?

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No, never in my case. Do you know how binary options work and how brokers make money? If you knew, you wouldn’t have asked this question. Don’t worry lemme tell you how they work.

-You don’t get paid by market, the brokers pays you.

-The brokers only make money when you lose.

-Broker can easily make you lose or manipulate your order cause you are trading on their platform.

-Some brokers will try to make you lose or others will simply ban you. Even if you start making 2000+$ per month you are useless in their eyes, they will add you into blacklist. They don’t need winners, their business run by .

Is It Possible to Make Millions While Trading Binary Options?

How much money can you make trading binary options? The ultimate goal for anyone getting involved in trading binary options is to make profits. The most obvious question for any beginner is, does trading binary options really make money? If it can, how much money can you make off trading in binary options? We will explore various dynamics in a bid to find answers to these questions. Binary options trading needs to be looked at objectively when trying to judge whether you can make money from it. They are a lot of myths and misconceptions going around about binary options.

IMP NOTE:

Now Get Real Account with as little as $10. And start trading the BINARY OPTIONS, FOREX, FX OPTIONS & CRYPTOCURRENCIES at one platform. Click To Open Free Demo Account | Click To Get Real Account In $10 (Updated July 2020)

My Recommended Brokers

Is It Possible to Make Millions While Trading Binary Options?

Instead of talking about whether you can make millions off binary options trading, let’s explore the probability of making millions trading in binary options. First, the binary options traders you trade with making money through your losses. That aspect screams louder than anything else that the probability of making millions trading in binary options is almost zero. There are a lot of unverifiable stories of binary options millionaire. Those could be binary options brokers advertising they sited though.

That’s the probability though. There is still a possibility that you could make millions though. Hypothetically it is possible to make millions in binary trading. This is also under the caveat that your trading works out all the time. Unfortunately, the chances of any strategy working out consistently enough to make you a binary option trader millionaire are pretty slim.

The maximum amount you can trade in binary options differs from broker to broker. At most, it goes up to $2000. To get to a six-figure, you would have to win your trades for quite a while consistently. While that may be hypothetically possible, you and I know its realistically impossible. Also, if you take a look at the statistics depicting the earnings of traders on various platforms, the thought of making millions trading in binary options becomes far-fetched.

For instance, one of the binary options brokers records average earnings per trader of $1217 per month. It would take over 800 months, or 68 years to make a million. The energy and skills invested could be more useful somewhere else as far as making a million is concerned. Keep in mind it is difficult to profit from binary options trading if you don’t have skills. The systems are set against anyone treating it as gambling. Anyone making over $1000 trading in binary options, must have good analytical skills.

No matter how enticing and caring the brokerage firms seem, they are also there to make money. They make money when you lose. It is, therefore in the best interest that you lose. If everyone on the platform was winning, they certainly close down. They are operational because a big number of the traders on the platform are losing.

Having said all that, that does not mean you cannot make any money trading binary options. There are professional binary options traders who make decent money. You got to have the right strategy though. You are doomed to fail if you treat it like gambling.

So, how much money can you make with binary options? Let’s find out!

How much money can you make trading binary options?

It is estimated that only 5% of the people who engage in binary options trading profit from it. That seems like a small percentage. It is still a considerable number of people, considering we are talking about people from all over the world. So, if you were lucky or skilled enough to be among the 5% what’s the maximum amount would you make from it?

To get a better picture, let’s consider two real binary options brokers.

My Recommended Brokers

Broker Min Deposit ($) Min Stake ($) Max Payout (%)
IQ Option 10 1 95 1st Choice
ExpertOption 50 1 95 2nd Choice
Olymp Trade 10 1 92 3rd Choice

IQ Option

IQ Option is arguably the largest binary options broker today. It boasts of over 25 million subscribers. The Seychelles-based broker is licensed and regulated by Cysec. The minimum deposit on IQ Option is $10 and the minimum investment is $1.

The large number of people, is because of the low entry threshold, and the low investment amount. IQ Option is one of the binary options brokers that many people believe they can profit from. Unfortunately, many of the traders on IQ Option trade with small amounts. It is going to be difficult to rack up winnings from $1 investments , until they reach one million.

Raceoption

Raceoption is currently recording trader earnings of $1.9 million in a month and has 1570 traders on the platform. That’s average trader earnings of $1217 a month. Well, a majority of the traders are losing (that’s what we have established).

Let’s say 10% of the people on the platform are winning more than they are losing. That would be 157 people winning. If the total trader earnings are $1.9 million, then the average trader earning per month for those winning would be a little over $12000. That impressive! Of course, the figures could be higher or lower depending on how much people are actually winning, and the spread.

Binarymate

Binary mate claims to be recording a little over $3 million in trader earnings, while it has a little over 5000 traders on the platform. That’s an average of $600 per trader per month. Let’s take the global percentage of people profiting from binary options trading, in this case, the 5%, since it has more subscribers than raceoption. If only 5% of the traders on Binarymate are actually winning, that is 250 people. The average earning for them would roughly be $12000. Quite similar to Raceoption above. You expect the exact figures for each of the traders to be different depending on the spread.

The figures above indicate that you could be making anything between a few dollars and tens of thousands of dollars depending on your winning rate. Actual statistics show that the highest earners on the binary options brokers’ platforms earn somewhere between $3000 and $5000. More people than the 10 or 5 percent could be winning making the actual figures more spread out. Therefore, it is certainly possible to make decent money from binary options trading.

As already mentioned, the high earnings take practice, discipline, high-energy and skill. Without these, your best bet is probably a few hundred. You probably lose for quite a while before you get to the high earnings. Keep in mind that it doesn’t make sense that the binary options brokers should help you win when they earn when you lose. Regardless of how legitimate they are, you will probably always lose if you depend on their advice alone. That does not mean you cannot win. If you are smart, persistent and patient enough, you won’t have to lose a lot, and you’ll probably get into the winning bracket with time. Hope you are better informed. Happy trading!

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Trustful Broker. Recommended Only For Experienced Traders!

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Broker Min Deposit ($) Min Stake ($) Max Payout (%)
IQ Option 10 1 95 1st Choice
ExpertOption 50 1 95 2nd Choice
Olymp Trade 10 1 92 3rd Choice