AskOption Review

AskOption binary options broker was recently launched by a company called Peak Media Group Ltd with the main office located in London, UK. For the time being, AskOption is accepting US traders to trade with them. Even though it is a new broker and only entered into the market in 2015, it already has a large customer base who are loyal to them. The AskOption broker has a very active involvement in Facebook and Tumblr.

Trading Platform and Features

AskOption offers the Panda TS platform with a well designed interface that organizes its features into various tabs. The social trading app allows you to see how much the top traders have earned and the type of option they are trading for example high/low. There is a button that you can conveniently click to copy the trading strategies. The Option Builder feature allows you to build your own trading strategy.

The average payout for the high/low option is 81% and there are about 80 assets to choose from. There are 30 seconds and 60 seconds options available. It also offer options with 2 minutes, 5 minutes and 10 minutes expiry time. The minimum trade size is $5 and demo account is available for traders that want to test their strategies before joining. It supports a mobile app that is compliant with mobile devices that support the iOS or Android platform.

Trading Account Types

AskOption Basic account requires at least $250 to open while the Mini account has a minimum deposit of $500. Both new signups of the Basic and Mini account will receive a 30% welcome bonus. While Basic account holder don’t have any risk free trade, Mini account offers you 1 risk free trade.

The Standard account is for binary options investors that are interested in making an initial deposit of between $1,000 to $4,999. You get a welcome bonus that is equivalent of half of the amount of your deposit if you open a Standard account. As a standard account holder, you will enjoy 5 risk free trades and 5 live training sessions.

You can open a Premium account if you want to deposit in between $5,000 – $14,999. Those who sign up for a Premium account will get a 70% welcome bonus. You are also entitled to 7 risk free trades and will be given access to 10 live training sessions.

For the Ultra account, the minimum deposit requirement that you must meet is in between $15,000 to $49,999. If you have an Ultra account, they will award you with 85% of welcome bonus and 10 risk free trade.

The VIP account is for big investors who will be depositing more than $50,000 into their trading accounts. All VIP account holders will have the chances to accept a 100% welcome deposit bonus and enjoy 20 risk free trades.


Traders can deposit/withdraw money through most major credit/debit cards including Visa, MasterCard and Maestro. According to the KYC policy, there are some documents that you have to provide in 48 hours in order for them to process your withdrawal. You can also deposit or withdraw through bank wire but you will be charged a fee. AskOption is said to be adding Neteller as another method for traders to deposit or withdraw the money soon.

Customer Service

The customer support department will finish processing your withdrawal request within a timeframe of 5 days. You can only withdraw the funds in the preferred currency you choose when you register for your trading account. AskOption supports 4 types of currencies including USD, GBP, Euro and AUD.

You can contact the AskOption customer support department through telephone, email and live chat. The opening hours of the customer support department is from 8 am to 11 pm GMT. Telephone customer support is available to customers in the USA, Australia, UK, Canada and Bahrain. It has different telephone numbers for customers in the New York and Los Angeles in USA.


In conclusion, AskOption is not yet a regulated broker but it cares about the customers’ experiences. AskOption relies on the social media networking to improve their trading services through customer feedback. Newbies who are thinking of investing in binary options trading will find AskOption a good choice because it has a low minimum deposit.

How to Succeed as a Binary Options Trader?

If you are serious about binary options trading, then you probably want to know how to succeed as a binary options trader. Before going any further, you need to know that it is important for you to stick to the following points that will be mentioned.

Numerous traders start off with the best of intentions but are diverted from their path with dreams of getting rich quick. While you can make a decent and continuous profit with binary options, you will need to work hard and more importantly, work smart. Here is how you can give yourself the chance to succeed:

Play the Long Game

This is something that many traders forget to do. This is typically because most trades in binary options are so short. Therefore, it is easy to stop looking ahead at the big picture. This, however, will mean that you get caught up in all of those little trades that really will not help you get ahead.

There are two important ways to prevent this. The first is to come up with a realistic plan. This means making a practical amount of money within an acceptable period of time. The second thing you need to do is continuously remind yourself of your plan.

Always go over why this is a good plan and how it will help you to reach your goal. This will help in a variety of ways. Not only will it prevent you from making silly mistakes, it will also help you to overcome those stretches of losses that you may experience.

Diversify Your Portfolio

This is advice that you will receive regardless of the type of trading or investment that you are involved in. This is because risk and loss are an accepted occurrence in investment. So, now that you know that it is inevitable, how are you going to limit your losses?

Diversifying your portfolio simply means investing in asset classes that often perform in contradictory ways to one another. Take currency and gold, for instance. When currency begins to lose value, you can be quite certain that the value in gold will rise, at least temporarily. Therefore, by placing small trades in gold when currency is losing value, will help you to make up some of the loss that you may have faced earlier.

Choose Quality Over Quantity

Many traders tend to think of binary options much like flipping a coin. If you flip it long enough, it is going to end up on the side that you are betting on. The problem with applying this theory to binary options trades, however, is that you could end up losing quite a bit of money in the process.

Therefore, what is really important are the type of trades that you place instead of the number. This is what will help you to make a profit. This is why it is better to spend your time trying to identify the best trade rather than placing as many as you can.

Now you are aware of how to succeed as a binary options trader. Remember to always hedge your trades and be smart about what you are doing rather than work off intuition.

Can Binary Options Traders Become Millionaires?

Can binary options traders become millionaires is a question that is asked quite frequently. Particularly by those who have never traded with binary options before. They are hoping that this is a method that they can utilize to make some quick money, fast. Due to a lack of understanding of the actual system in place, many people simply assume that they will immediately begin making money this way.

From a theoretical point of view, yes, you can become a millionaire with binary options trading. Of course, by that logic, almost any form of trading or investment could make people incredibly rich. So, why aren’t there crowds of traders in the world? This is because while the math may be solid, the actual execution of this plan is less simple.

What Will It Take?

There have been individuals who have actually calculated what it would take to become a millionaire. For the sake of this example, let’s say that you started off with $500 in your account. Within the first month of trading, you will need to achieve a profit of 15 percent.

This means that you would have made $575 in that first month. If you wish to be a millionaire, you are going to have to ensure that you make a profit of 15 percent for every other month as well. Now, in this hypothetical situation, you cannot extract any of the funds from your account. It must all remain there until you reach your goal. If you continue in this manner of making fifteen percent each month, you will be a millionaire in five years.

Has Anyone Done This?

There has been no veritable proof regarding a binary options millionaire. There have certainly been many ventures claiming to make individuals millionaires but they have all been revealed to be scams. Therefore, there is no way of knowing if someone has set out to do what the above figures claim can be done. For now, it all remains to be a theory.

What Are the Challenges?

Now, you can make significant amounts of money with binary options. Whether you can become a millionaire is another thing entirely. This is because there are many obstacles to this plan. The first being that it can be very difficult to guarantee that you will always a 15 percent profit every month.

You may make this – or more – for one month. However, there is no guarantee that you can continue to do so. This is because everyone has their winning and losing streaks. Sometimes, these outcomes are beyond the control of the trader and he or she must simply wait it out.

Now, imagine for instance, that a trader attempts to overcome their losing streak by investing more and more. Even if you are absolutely certain about the outcome of the trade, there are still limitations in place. For instance, each broker has a set amount of money that they will allow you to place on any one trade. Therefore, you cannot simply invest as much as you would like.

This is a comprehensive response to the question can binary options traders become millionaires. While there is no definitive proof that you cannot do such a thing, it certainly will be difficult.

Which Binary Options Trading Site is Legitimate?

One of the reasons that binary options trading is so popular is because it can be easily conducted online, with the help of a trading site. This, unfortunately, also leaves the industry vulnerable to scams, frauds, and other deceitful schemes.

As there is so much of uncertainty shrouding this type of trading, you may be wondering just which binary options trading site is legitimate. The good news is that there are numerous legal and authentic sites that you can place trades with.

However, it will require a little bit of effort from you. Here is how you can discover the sites that are real:

Scan Scam Lists

Many people have been getting wise to the fact that there are so many binary options scams. This, in itself, has turned into somewhat of a service. There are many different sites that will help you determine which trading site is a scam and which one is legitimate.

These sites often do a thorough review of the brokers and platforms to be able to reach a conclusion, thus preventing you from taking on any risk. This is certainly of the best options that you have. At the same time, it is important to be mindful of a few things.

First and foremost, you should be able to ascertain the legitimacy of the rating site. Also, you should make sure that it is free of paid or ‘native’ advertising. This is when binary options brokers pay website owners a fee to vouch for them. This can typically be distinguished in the way that the article is written.

Carefully Vet Your Options

The first step helps you to narrow down the list. Nonetheless, you are still going to need to make your own verifications. If the site claims to be licensed with a government agency, it is important to not take this at face value.

Instead, head to the agency website and type in the license number. This will help to determine whether the trading site is in fact licensed and that the license has not expired. It is also worth it to carefully go through the site as well as take a look at the terms and conditions. Even the most legitimate sites may have certain loopholes that could give them the opportunity to exploit your finances.

Always be Cautious

If you choose to opt for a binary options broker that is not well-known, then it is vital that you take precautionary steps. For instance, avoid placing large amounts of money in your account at any given time. You should also get into the habit of frequently withdrawing money from your account.

If you encounter any issues, particularly every time you try to make a withdrawal, this is a red flag that you should pay attention to. It is also a good idea to frequently research the broker via search engines every so often. This way, you will be able to observe if any other traders are reporting issues. This will help you to get ahead of any looming problems.

It is actually not too difficult to figure out which binary options trading site is legitimate. As long as you take the necessary preventive measures, you and your money will be safe.

Do You Need a Lot of Money to Start with Binary Options Trading?

You may have previously tried to break into other forms of investing and found that the entry price was too steep. This is actually true for many types of investment which is one of the reasons that people tend to avoid this activity. Do You Need a Lot of Money to Start with Binary Options Trading?

This is why one of the most commonly asked questions for this type of trading is “do you need a lot of money to start with binary options trading?” No, you don’t actually need a lot of money but the actual question cannot be answered quite so simply. You also need to consider the following aspects:

The Broker’s Requirements

Signing up with binary options brokers themselves will typically not cost you anything. In most instances, you can do it for free. However, many of them require you to have an account before you place trades with them.

Here, is where the money comes into play. This is called the deposit amount and it fluctuates from broker to broker.

It is quite common to find brokers who are offering incredible minimum deposit rates, nonetheless. One of the most popular amounts quoted are between $10 and $250. This is what you will need in your account before you are able to start trading. Now you should know that this is not the amount that you actually have to invest in a trade but merely the amount that you need in your account.

While this deposit is low you should keep in mind that it is for the most basic accounts and that you cannot really expect much services in return for your payment.

Your Profit Agenda

The amount of money that you can place on a single trade differs from one broker to another. Again, however, this sum tends to be quite low. It is not just about the minimum requirement demanded from a broker, however.

It is also about how much money you would like to make from this endeavor. The profit that you make is dependent on how much money you place on a trade as well as the in-the-money profit rate offered by your broker.

The more money that you place on a trade, the greater the chance you have of getting even more money back. It is perfectly acceptable to be cautious about how much money you invest in a trade. At the same time, it is important to realize that you cannot expect to make too much of profit if you only invest meagre amounts.

What You Can Afford

Of course the most vital aspect of how much money to invest in binary options trading is to determine how much you can afford. You should never invest more money than you can comfortably lose in any one trade.

Therefore, it is important to first separate the amount that you need to live and pay bills. You can then use a percentage of that money to place in a trade. One of the best tactics you can use is to continue use the profits that you have made as investments in future trades. This way, you always make sure that your finances are properly balanced and taken care of.

This will show that you don’t really need a lot of money to start with binary options trading. Nonetheless, having a healthy amount of capital will certainly not hurt your odds either. You should just remember to invest it wisely.


Avoid Binary Options Robots Scams

scamWhether it is high end handbags or binary options, there is always someone who is willing to try and sell a scam to unsuspecting individuals. Binary options robots have been the latest topic that is being discussed among traders. How to Avoid Binary Options Robots Scams?

As it does seem to have several merits, many are wondering if this is a venture that they should join. Of course, as anyone who has been trading binary options knows, the industry is rampant with scams. There is no exception when it comes to binary options robots, either. Therefore, how to avoid binary options robots scams that are invariably around the corner? Here are some tips to help you:

Go Through Specs and Features

Now, there is a lot that an automated trading system can do for you, if it is legitimate. Therefore, an authentic system would be keen to list out all of its specifications as well as the features that it can offer you. The mark of a good, not to mention, genuine automated system would be plenty of customization options. Remember, the more custom features there are, the greater the amount of control you have over what is being traded.

Even the robot appears to be legitimate but only has a simple selection available, you should forgo it. A system that is overly simple means that there is no sophisticated design behind. As such, you are most likely to lose most of your trades and as a result, lose all of your money.

Investigate Broker Support

One of the reasons that it can get quite tricky with these robots or automated systems is due to the broker selection. This is because many robots are often incompatible with many of the brokers that you may recognize or trust. Oftentimes, you will have to sign up with a broker that allows you to use that particular automated trading system. Generally, it is best if a robot offers you a wide variety of brokers.

If a large number of brokers accept that particular robot, it is typically a sign that they are legitimate. That being said, you need to first make sure that those brokers themselves are trustworthy. Therefore, you should always look out for brokers that have been established. A good way to avoid this problem altogether is to use a robot that your broker has already established an affiliation with.

Check the Prices and Fees Involved

There are actually some binary options robots that are available for free. Although these are limited in their capabilities, they can be used to varying levels of success. This is why you need to be wary of systems that demand hundreds of dollars for their services.

Some may try to coax this amount from you by promising thousands of dollars in profit in return. Remember, if an automated system promises to win you thousands of dollars a week, it is probably a scam. Even performing at optimal levels, there is a limit to how much these robots are able to make. This is also taking into consideration the investment you will be making in each trades.

These are few ways how to avoid binary options robots scams. A good rule of thumb is that it is always better to be safe than sorry when it comes to such ventures.

Benefits of Auto Trading Software

Depending on your relationship with technology, you may be hesitant to place your faith in automated trading software. This can be especially daunting when certain individuals refer to these services as ‘robots’. What Are the Benefits of Auto Trading Software?

If you interest has been piqued, however, you may be considering what the benefits of auto trading software are. If so, you are not alone and many traders are wondering whether this is a good option for them. Here are some of the advantages that come along with utilizing this type of software:

Greater Number of Opportunities

If you are engaged with binary options trading, it is quite probable that you are only devoting a small portion of your time to it. There aren’t many full-time traders around and most people simply use this as a chance for a second income.

  • What this means is that there are quite a lot of wasted opportunities passing you by every day. This could be happening while you sleep or while you at work.
  • With an automated system, however, the software will ensure that there are always feelers out.

This way, the system will be informed every time that a pre-determined trade opportunity becomes available. Not only that, it will be able to place that trade for you within the perimeters that you have set. By placing a greater number of trades, you are making room for larger profits for yourself.

Removal of Emotion

If you were to ask any trader what one of the most encountered problems with trading is, there answer would probably be quite similar. This is because one of the main issues is emotions getting in the way of trading.



This is because humans are easily incited to bursts of optimism or over indulgence. At the same time, they may feel like giving up after a couple of losses. With an automated system, there is no danger of this occurring.

The trading plan is strictly followed as long as certain criteria is met. Now, of course, this comes with its own set of disadvantages. For the most part, however, it means that you will not overplay your hand or be crippled with doubt regarding a trade. This means that you are simultaneously maximizing your probability for profit while minimizing risk.

It is Useful to New Traders

With new traders, there is a bit of a learning curve involved when you first start trading. After all, you need experience if you are going to be successful with binary options. However, it is inevitable that you are bound to make many mistakes in the beginning.

This, unfortunately, correlates directly to a loss in money. With the help of robots, however, you can begin making money almost immediately. The software simply looks out for favorable conditions and then places the trades.

Not only does this cut down on the decision making time, it also reduces the possibility of human error. This translates to you being able to make money almost immediately after trading with binary options.

If you were trying to work out what are the benefits of auto trading, you now have a comprehensive answer. This can help you to decide whether or not automated software is for you.

Binary Options Money Management System

Binary options trading much like any other form of investment carries a certain amount of risk with it. This means that there is always the chance that you will lose the money that you have invested in a trade.

While this is unavoidable, there are some things that you can do to help minimize the damage. In particular, having a good money management system for binary options trading is your best bet.

This will help to balance the amount of money that you lose with the money that you win in trades. In turn, you will be able to ensure that you do not fail or lose all of your money. What Is a Good Money Management System for Binary Options Trading? Here is how you can implement the best money management system for yourself:

Avoid Rigidity

The worst possible thing that you can do is to be rigid with the money that you are placing with trades. There are two common mistakes that people make with this. The first is always placing the same amount of money, regardless of the trade. This, however, causes two issues. One of these is that you can easily lose your money if you hit a prevalent losing streak. You will just continue to lose the same amount of money over and over.



Most traders cannot afford to sustain such loses. The second problem arises with the fact that you will fail to take advantage of trades that can offer up a higher profit. Imagine that you did the opposite of the fixed option, that you were completely random with your investments.

This haphazard manner will mean that there will be no rhyme or reason to the money that you win and lose. Thus, you will not be able to effectively balance out the sums.

Know Your Strategy

Ultimately, the best deciding factor in your money management scheme is your trading strategy. In particular, you will need to fully understand the risks that your strategy holds. A strategy simply gives you a better chance of winning a trade. By no means does it offer up any guarantees. Therefore, with experience, you will be able to discern where the faults in your strategy lies and circumvent risk as a result.

Do the Math

Now, it is time to crunch some numbers based on your strategy. You will need to start off by determining the win percentage that your strategy affords you. Imagine, for instance, that you end up winning 75 percent of your trades. To help make calculations easier, hold this up against a 100 trade theory. According to your strategy win percentage, you will win approximately 75 of every hundred trades while losing 25 trades.

Dividing hundred by your number of losing trades gives you 4%. This gives you a good idea of how much you need to invest in each trade. Now this number is dependent on several things. First, you will need to think about the total amount of capital available to you – how does four percent fit with this sum?

Second, you will also need to take it trade by trade basis to make sure that you are making full use of all of your opportunities.

This is what is considered a good money management system for binary options trading. Take the time to decide which percentage is right for your capital, trading strategy, and lifestyle.

What Are Top Binary Options Trading Software?

If you want to be successful with binary options, there are several things that you need to help you with this endeavor. Among these, finding what are top binary options trading software is often right at the top of that list.

Now, it can be difficult to specifically name and point out particular software. One of these reasons is that several top brokers tend to use the same trading platforms. Also, it is a deeply personal decision to make. Therefore, you need to determine which one is right for you. That being said, there are certain factors that allow you to immediately separate the great from the mediocre. Here are some cues to follow:

You Must Be Able to Observe Low Latency

What does low latency mean with binary options software? Well, this form of trading being up to date is crucial. If you are not constantly being fed the most current information, you can make the wrong trade, thus costing you a lot of money.



Now, one of the ways that you are kept updated with binary options is that you are able to see the price movement of one of more assets. You are also able to track several trades at a time. This is imperative in order for you to determine the direction of the price change within a certain period of time. Low latency means that the information that is being transmitted to you is up to date and is occurring in real time. This is why you need to check for low latency.

Platform Reliability

With platform reliability, you are looking for a platform that will offer you smooth functioning. This means that you do not experience any lagging or delays. Most importantly, there are no errors or bugs to contend with. With most software, it may be acceptable to encounter certain problems.



However, with binary options trading, the stakes may be considerably higher. If your platform happens to crash at the wrong time, the results could be quite costly. As such, you need a platform that will be reliable at all times.

User Compatibility

You have probably had to use someone else’s smartphone at one point or another. In fact, you probably had to use one that was a different brand to yours. What was that experience like? You were probably befuddled, pressed the wrong buttons, and could not find the right action for a long time. It was quite likely that the other person had to step in and show you how to do it. Well, can you imagine if this happened with your trading platform?

Now, you will certainly need to get used to any trading platform. However, if it is especially convoluted, you may not really be able to get the hang of it. If you find it difficult to place a trade, you may also find that you are losing out on your window of opportunity.

If you follow these guidelines, you will easily be able to discern what the top binary options trading software are. This will help you get started on your trading journey.

What Indicators Should You Use for Binary Options Trading?

If you have done your research regarding binary options, you probably know that you are going to need a strategy in order to be successful. You have potentially realized that you need indicators in order to create and utilize your strategy.

This means that you are probably trying to figure out what indicators you should use for binary options trading. Well, then you are in the right place. Here are some of the most important indicators that you should be relying upon:

Wilder’s Directional Movement Indicator’s (DMI), Average Directional Index (ADX)

Yes, this is quite a mouthful but in most instances it is simply referred to in terms of DMI and ADX. For this indicator, you will need to be aware of the three parts – the ADX, the Plus Direction Indicator (DI+), and the Minus Direction Indicator (DI-).

In short, you will need to look at the DI+ and the DI- in correlation to the AVG. For instance, imagine that DI+ is above DI-. This means that the momentum is uptrend. If DI+ is below DI-, then the momentum is downtrend. If the ADV value for either of these scenarios is more than 25, you can determine that this trend is strong.

If it is below 25, the trend is weak. 

Pivot Point

The Pivot Point is a little easier to understand. Essentially, it can be used to identify the general trend of the market for different time frames. Simply put, the pivot point is the average of the high, low, and closing prices that were recorded on the previous day.

If the trading for the current day is above this pivot point, then it is assumed that there is a bullish sentiment. If trading is less than the previous day, however, it is understood to be a bearish sentiment. This has proven to be particularly helpful in the trading of major currencies.

Bollinger Bands

Bollinger Bands are used to determine the level of volatility that the market experiences. There are two bands, one indicating the upper level while the other determines the lower level. When the market is particularly volatile, the bands contract, moving closer together.

This can sometimes mean that there are trading opportunities ahead. If the bands widen, however, it is a sign that the volatility is decreasing. It is important to understand that Bollinger Bands do not act as trading signals. They cannot tell you when or how a price may change.

Stochastic Oscillator

This indicator compares the closing price of a particular asset to the range of its prices over a specific period of time. The Stochastic Oscillator measures the level of the closing price comparative to the high-low price range of the asset.

The sensitivity of the indicator can be reduced by one of two ways. You can choose to adjust the period of time or take a moving average of the result.

These are the most important indicators that you should use for binary options trading. While there are others, it will be quite beneficial for you to master these, above others.