One of the best sources of information about binary options and the operators in this market is online forums. One of these online forums is Reddit. Reddit is an exceptional source of all kinds of binary options information; information that can make the difference between getting a good payoff, and losing it all. That is why in this article, we will chronicle some of the catchy binary options Reddit threads which capture some of the experiences of binary options traders all over the world.
Reddit Threads on Binary Options
Why are we so interested in binary options Reddit threads? Sometimes, it is the best practice to get firsthand information about certain aspects of the binary options market from others who have actually experienced various aspects of this simple financial product. As the saying goes, “it is always better to learn from the experiences of others than to learn from personal experience”. That’s why the posts and threads on Reddit cannot be ignored. Let’s capture the essence of binary investment options from the eyes of a few persons who have been touched in various ways by this market.
Post 1: A Signals Provider Gets Evaluated
Many binary options traders know that there is always a potential risk of falling into the hands of scammers when looking for easy payoffs that can come from using signals services. Trustworthy signals services are hard to come by. Even when you are able to sort out the real stuff from the scams, there is always the chance that the trustworthy ones may not deliver optimal returns. No one wants to use a service that can serve alerts which predict outcomes on multiple options, only for them to expire out of the money. So when you look for the best solutions to this problem on Reddit, it is usually settling to find some useful information on the top signals providers.
This is an example of a thread where someone put up a post about a signals provider. Here are responses to this post.
We can see that there is a wide range of answers, totaling 38 in all, expressing their view after testing the service. For a new user to Reddit, binary options signals providers such as the one described above present an opportunity to buy or sell and investment option using the opinions as a yardstick on which to make a choice.
Post 2: Seeking Advice on a Trade
This snapshot above, is an example of a different kind of post from a Reddit user. This is the usual format when a trader who is unsure of an investment option move is seeking investment advice from users on Reddit.
So here goes this post on Reddit: binary options traders are presented with a question from someone who wants to know (in a sarcastic way), whether it is a good idea to trade the Federal Funds Rate (FFR) using binary options.
For those of you who are seeing this for the first time, an explanation of what this question is all about is in order. On the US-style binary options platforms such as that of the North American Derivatives Exchange (NADEX), one of the few news releases which can be traded with the Buy/Sell binary investment options is the Federal Funds Rate, otherwise known as the US Interest Rate. Eleven times a year, the US Federal Reserve meets to decide on the interest rate at which the Federal Reserve will lend to banks. This news has a global impact because it ultimately affects the value of the US Dollar, which in turn affects the price of commodities (all of which are USD-denominated), cost of money in the US and the value of the emerging market currencies. So it is a big deal.
Here are some responses to the request of the trader who setup the original post:
Here are a few other responses:
In this example, someone gave an informed professional opinion in response to the question, and in subsequent posts, others gave some opinions on the trade numbers. An assortment of answers which cover not just the trade suggestion but also the figures behind the trade, allow the original poster make a more informed decision on the news trade. It may surprise you to know that some of the information provided in terms of returns on trades, are stuff you hardly see anywhere, except in professional trading books. This makes Reddit binary options posts very important.
Information on Binary Options from Reddit
In aiming to get information about binary options from Reddit, what kind of information should be sought for?
- New Products: what new products and services in the binary options market are out there?
- Information about binary options signals services.
- Binary options brokers and their general conduct.
- Binary options robots: the good, the bad and the ugly.
- Binary options reviews, which review anything from brokers to robots to regulators and signals services.
So how do you get the information you are looking for? There are several ways you can access information about binary options on Reddit.
One way is to visit the various subreddits that are available. For instance, there are subreddits on binary options providers. In order to get to the listing of binary options providers, you can use the search button, type in “binary options” and get a list of topics within their subreddits. You can then click on the link to the subreddit and you will be directed to the topics listed under the subreddit.
These snapshots illustrate the sequence of what was described above.
Each subreddit is placed in categories that will interest the user.
- There is the ‘Hot” category. Posts under this Subreddit are usually the hottest topics with lots of user interest.
- The “New” topics showcase the latest posts on the Subreddit. Users should visit the new submissions regularly so as to get a heads-up on some of the latest happenings. Who knows? A binary options broker that may have been one of the top or most popular brokers in 2012 may just be one of the worst in 2017!
- The section with the “Rising” submissions showcases topics which are slowly beginning to gain traction among the Reddit binary options users.
- You simply cannot have an online forum with a section which lists some of the most controversial posts, and Reddit seems to have that here with the “Controversial” subreddit section.
- There is also the section where the “Top” subreddits are listed. Perhaps you want to see what binary options services are trending, or what posts have the top scoring links. This is where to seek them out.
- The team behind the Reddit forum is aware that some providers may want to put out some information about their binary options products and services. The “Promoted” section is where such products and services are to be listed. There are strict rules on promotion of binary options products on Reddit. They can only be done in this section.
It will take the new user some time to get used to the Reddit way of doing things. Those who are interested in binary options Reddit posts can follow the steps listed above to get to know the Reddit forum a bit better, and use it as an information source for their binary options activity.