cautionI skim the news regularly for headlines about binary options so that I can bring you useful stories about our favorite brokers. Now and again though I see something crop up in the news that is just a total scam. Sometimes it amazes even me what Google apparently considers “newsworthy.” This time I ran into a “news” story about a YouTube video “going viral” after “unveiling the secret on how to make 75% profit in binary option under 5 minutes” (yes, with the dubious grammar and everything).

So I followed the to the video to check it out. What I found was a twelve minute video entitled “How to Make Quick Money? – Earn 76% Profit in 5 Minutes.” I was very relieved to see that this “viral video” had 39 views when I checked. So far, thankfully this video is pretty much undiscovered. That is not to say though that I have not seen videos just like this one take off and garner tens of thousands of views or more. Just to humor the apparent newsworthiness of the video—and as a regular reminder to all of our readers about what constitutes responsible trading—let’s take a look at some of this video’s outrageous claims.

Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
90% $10 $1
 
200% $50 $10
 
85% $200 $20
 
85% $100 $5
 
85% $10 $1
 
95% $250 $1
 
80% $5 $1
 
80% - 90% $250 $5
 
85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
95% $250 $1
 
80% $10 $0.10
 
160% - 180% $50 $2
 
95% $250 $1
 
90% $250 $1
 
80% - 90% $250 $5
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
200% $50 $10
 
95% $250 $1
 
90% $50 $1
 
80% $5 $1
 
80% - 90% $250 $5
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  200% $50 $10
 
  85% $200 $20
 
  85% $100 $5
 
  95% $250 $1
 
  85% $10 $1
 
  80% - 90% $250 $5
 
  85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
90% $10 $1
 
200% $50 $10
 
85% $50 $1
 
85% $200 $20
 
85% $100 $5
 
95% $250 $1
 
85% $10 $1
 
80% $5 $1
 
80% - 90% $250 $5
 
80% $250 $25
 
85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
90% $10 $1
 
90% $50 $1
 
85% $100 $5
 
85% $10 $1
 
85% $50 $1
 
85% $200 $20
 
95% $250 $1
 
80% $250 $25
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  85% $50 $1
 
  200% $50 $10
 
  95% $250 $1
 
  85% $200 $20
 
  85% $10 $1
 
  85% $100 $5
 
  80% $250 $25
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
  95% $250 $1
 
  85% $10 $1
 
  80% - 90% $250 $5
 
  80% $250 $25
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
  85% $100 $5
 
  95% $250 $1
 
  85% $10 $1
 
  80% - 90% $250 $5
 
  80% $250 $25
 
  85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $250 $10
 
  85% $50 $1
 
  85% $100 $5
 
  85% $10 $1
 
  95% $250 $1
 
  80% - 90% $250 $5
 
  80% $250 $25
 
  85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
  85% $100 $5
 
  85% $10 $1
 
  95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
  85% $100 $5
 
  85% $10 $1
 
  95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
  85% $10 $1
 
  95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
  90% $50 $1
 
  85% $10 $1
 
  95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $10 $1
 
  85% $50 $1
 
  95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
90% $10 $1
 
85% $200 $20
 
85% $100 $5
 
95% $250 $1
 
80% - 90% $250 $5
 
85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $100 $5
 
  85% $50 $1
 
  85% $10 $1
 
  95% $250 $1
 
  80% $250 $25
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  200% $50 $10
 
  85% $250 $10
 
  85% $50 $1
 
  85% $100 $5
 
  95% $250 $1
 
  85% $10 $1
 
  80% - 90% $250 $5
 
  80% $250 $25
 
  85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
200% $50 $10
 
95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  200% $50 $10
 
  85% $250 $10
 
  85% $200 $20
 
  95% $250 $1
 
  85% $10 $1
 
  80% - 90% $250 $5
 
  85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  85% $50 $1
 
  200% $50 $10
 
  85% $200 $20
 
  95% $250 $1
 
  85% $100 $5
 
  85% $10 $1
 
  80% - 90% $250 $5
 
  80% $250 $25
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
95% $250 $1
 
85% $10 $1
 
80% - 90% $250 $5
 
85% $50 $1
 

 

$100 to $150 Dollar Profit Daily

At 0:26, we see a slide entitled “A fast and easy method.” Additional promises on the screen include “no prior knowledge needed,” “1-2 hours a day,” “free try-out,” “minimal risks,” and of course, “100-150 dollar profit daily.” Sounds great, doesn’t it? I would go so far as to say that binary options are a simple method for making money, and it is certainly possible that you can set up a routine that takes up one to two hours a day, but it is not easy, and it does require prior knowledge. You do not need prior knowledge to start learning, but you do need to start learning before you can trade.

Additionally, you cannot set goals like “100-150 dollar profit daily.” Ideally, that would certainly be nice, but your goals should be more along the lines of, “Take only the best setups.” You want to try and create a trading method that can bring you profitability regularly and consistently. The market is not at your command, though, and you cannot expect to make a set dollar amount daily. It is just not realistic.

It Is Enough to Guess the Direction

The next slide at 0:43 is a classic! The slide is titled, “What are the binary options?” The text then reads, “Main idea: decide whether the price of a certain asset will be higher or lower in a previously defined future moment.” It is the next element of text that really makes me laugh: “Specialties: It is enough to guess the direction. 70% profit within 5 minutes.”

This may actually stand as the single most ridiculous proclamation I have seen on one of these videos. Even though its absurdity is obvious to me, it is not going to be obvious to everyone. A lot of binary options traders are totally new to trading. They have been drawn into the world of binary options because of the appeal of its simplicity. Videos like this are genuinely damaging for that reason. Hopeful traders that simply do not know better may actually believe that it is enough to guess the direction of price and expect a 70% profit every time!

It is not possible, though, and it is extremely important that you understand that if you are new to trading. Videos like these prey on both hopes and fears. We all want to make money, and we are all afraid of it being difficult or hard work. Succeeding at binary options trading does require hard work, however, especially if you want to win 70% of the time or more. If you simply guess the direction of price, you will lose at least half the time, if not more. And you need to win more than half the time to profit over time! You cannot do that without an edge, and a guess is never an edge.

The “system” included in the video seems to be based on probabilities, and alludes to tossing a coin. However, the market is not a coin, and you cannot expect to profit simply based off of the laws of probability. The market is not entirely a creature of chance. There are regular discernable patterns, and it is those patterns that help you to win time and again, not the fickle laws governing luck alone. Probabilities are appropriate in a game like roulette, but as any person who has gambled extensively on roulette can tell you, there is no way to play roulette for a living.

Here are the lessons we have learned from analyzing this video:

  • Binary options is simple, but that does not make it easy
  • Success always follows hard work
  • Your goal must always be to trade well and let the money follow—not to expect a certain profit to be made every day
  • Prior knowledge is not required to start learning to trade, but prior knowledge (in the form of that learning) is required before you can start trading successfully with real money
  • It is NOT enough to guess the direction price will move. It is never enough to guess. You must have a trading method that gives you an edge!
  • You cannot rely on probabilities alone to profit in binary options

Be a successful trader!

Stick with those guidelines. Work hard, discover a powerful trading strategy, and apply it consistently. Educate yourself before you trade live. Do all of that and you have a very real chance of making 70% profit consistently and reliably with binary options, maybe even 75% or 80%. You may even be able to make a living as a trader. Do not let scams like these steer you off your course; there is no shortcut to success!