It seems to be a silly comparison at first. Oanda is market leader in Forex trading. The best Forex broker where it’s actually possible to make money. There is only one thing. Trader psychology. How often did you not have or changed your exit strategy. You allowed to cut your profit and run losses. Here we have Binary Options. You have exit and take profit strategies at the start. If you put it in decent money management strategy and have good trading system you follow and it agree with your ‘Psyche” you have a chance of making a good monies.
I strongly believe that both types of trading can be profitable. Forex can be good for some people and Binary Trading for others. My personal opinion is that Binary Trading is much more fun than Forex trading. The problem is you can get carried away quite quickly and loose capital even quicker. That why Binary Trading is quite often compared to gambling. Both Forex and Binary Options are recommended to professional traders only.
I can’t disagree with that comparison. Professional punters and poker players are gamblers? Yes they are to some extent. Isn’t a life choices a gamble? They are. There is a one ‘big difference’ who is winning gambler and who’s real gambler. Real gambler actually play for excitement and do not making enough learning to beat the system. He is loosing money over the time. Winning gambler learn, develop, has a patience and play to be ‘in the money’. I think that successful poker players would be a good Binary Options traders as they know how to deal with ’tilt’. That a loosing streak. You have to take a break from playing poker otherwise you are making disastrous decissions to your wallet and yourself. They know when is a time to come back stronger and learn from previous experience.
The same with Binary Options. Please check what is being on a ‘Tilt’ and how to deal with it.
I hope that IQ Option aspirations are to become “Oanda of Binary Options”. Payouts at the levels up to 95% and unique, state of the art platform bring it closer to that.