Binary Trading Facts

Question 1

Why do some strategies offered by brokers eventually stop working?

Accepted Answer

Because many traders copy them

Answer

Because the markets are unpredictable

Answer

Because the broker wants you to lose

Answer

Because the strategy is not well designed

Question 2

Is it required for a binary options broker to be licensed?

Accepted Answer

It is not required, but is recommended

Answer

It is not required, and is not recommended

Answer

Binary options brokers are only licensed in the EU/USA

Answer

All binary options brokers are licensed

Question 3

What is the primary goal of a broker?

Accepted Answer

To keep you trading, trading big, and risking

Answer

To make you a successful trader

Answer

To give you huge bonuses

Answer

To provide you with a risk-free trade

Question 4

What is the best way to withdraw money from your bank?

Accepted Answer

Withdraw a certain amount of money, stay cool and stand firm.

Answer

Withdraw all of your money at once

Answer

Withdraw small amounts of money over time

Answer

Withdraw large amounts of money over time

Question 5

What is the first of the worst mistakes when trading?

Accepted Answer

Trading on a very short timeframe

Answer

Lack of risk management

Answer

Not having a clear strategy

Answer

Trading with a licensed broker

Question 6

What is the main quality of a successful trader?

Accepted Answer

Self-control

Answer

Decisiveness

Answer

Risk-taking

Answer

Level-headedness

Question 7

Why do most trading systems offered by brokers not work?

Accepted Answer

The ideas may have been brilliant at first, but they no longer work in the current market conditions.

Answer

The brokers are not reputable.

Answer

The systems are offered for free.

Answer

The ideas are not brilliant.