Binary Options scams are coming to an end

Blog Digital Options

Here is our blog discussing various digital options topics such as binary options scams, brokers, trading strategy, how to open a binary trading demo account, signals, binary training, etc.

Digital Options without fraud, without deposit, without broker intervention

Binary Options have a bad reputation because of the bad actors occupying the space. Stories of traders unable to withdraw their fair gains, or outright scams, are plentiful. The reason is simple: when you trade with a broker, you trade against his book. When you win a trade, you take his money, when you lose a trade he takes it. Therefore it is in his interest that you lose as much as possible. When brokers do not use dirty tricks to influence the outcome (price feed manipulation), they simply block the successful traders from using their service. The lucky ones get banned while pocketing theirs gains, the unfortunate never see the color of their money.

In an ideal world you should be able to trade against other traders, or an independent liquidity pool, to remove this conflict of interest. This is exactly what propose a new revolutionary smart options trading platform, Spectre ai. The core of Spectre is its DALP (Decentralized Autonomous Liquidity Platform). It uses the transparency of the blockchain, more specifically of the Ethereum network and its smart contracts, to provide a fair trading environment that does not punish successful traders.

How does Spectre work ?

THe DALP liquidity has been built thanks to the funds invested in the project. The money is locked on the Ethereum network, the flow of money is governed by immutable smart contracts. When a trader opens a trade it is matched with the opposite trade taken by another trader, if existing. If not the payout, in case of a positive outcome, is paid automatically by the DALP. If the trader loses the trade, the stake is added to the DALP to provide liquidity to winning trades. Spectre earns through fees (2% for the platform, 2% for the SXDT holders, the investors who funded the start-up).

Spectre proposes 2 kind of accounts : regular and wallet. With wallet you trade directly from your Ethereum wallet, which means you always control your funds and your gains are immediately credited to your wallet. With regular you deposit funds to Spectre smart contract.

I know nothing about Ethereum and cryptocurrencies, what to do?

You can of course learn about cryptocurrencies, but it is not even mandatory. Thanks to CASET, traders can seemlessly send fiat currencies (dollars, euros, yens, etc.) to the platform and start trading, the Ethereum conversion is handled in the background by the system. Same thing for withdrawals, when you want to bank some profits you just require a withdrawal. Spectre cannot block this procedure.

How can I be sure that the DALP won’t get drained?

Spectre has defined the payouts and maximum trade amounts according to the binary options trading statistics to ensure that the DALP grows slowly. Beta testing and closed private testing have shown that it the concept works perfectly. The DALP cannot therefore be drained.

Binary trading: legit if you know what you are doing

Binary trading is different of FX or other day trading opportunities. If you can set stop loss or take profit limits with FX trading, such options are not available with this kind of trading. As the name suggests it, it is binary: you either lose or win. It is a bit similar to sports betting, when you have to predict which team or player will win. With binary trading you simply have to determine whether the price of an assest will go up or down within a certain time frame (5 min, 15 min, one hour, etc.).

Technical analysis (TA) is the tool that traders use to be successful when trading binary options. They learn to identify certain patterns that usually tend to indicate a price direction. Tools allows traders to generate graph studies in order to take informed decisions.

Beside technical analysis, other tools are available to traders to increase their win rate. There are for example signals providers. Those services, that are offered on a paid subscription basis, simply give trading suggestions (from automated softwares or senior traders). With binary options signal providers one with zero knowledge can trade and eventually make money. Eventhough it is highly recommended to follow a proper binary training course and use signals as a help.

Binary trading course: a must

Where to follow a binary trading courses? The Internet is the best place to find such education. You will find some free binary trading courses. The quality will range from mediocre to average. It is still better than nothing if you are on a tight budget. Quality binary options training will most probably be paid, unless you know a trader that is willing to teach you how to trade. For example, Blue Sky Binary offers a complete range of binary and FX courses to help you to become a good trader. The monthly cost is 99 dollars, but you can have access to this BO training for free (click on the link to learn how).

Most brokers offer a demo version: it is highly recommended to practice and experiment with your strategies before trading smart options with real money.