The idea of having a passive income has been so oversold on the internet that for a lot of people it has become a myth especially with the boom in scams that promise instantaneous wealth by just pressing one button. As strange as it may sound, it is true that you can earn a living with a plug and play system. I know it sounds too good to be true but it is true.
My search for this miraculous way of making money started about four years ago and my break through then was Fab Turbo (Forex). Unfortunately for me at the time I could not afford to buy this software as the US Dollar/South African Rand exchange rate was just too high, so my dream faded of into the horizon for a while. Fast forward to 2016, a lot has happened since then and trading robots have been invented, developed, refined and have changed the way we invest forever. Along also came Binary Options.
The USD/ZAR rate is still very high for me in terms of investing in the Forex market and especially considering that you have to fork out a minimum of $3500 to be profitable. In South African Rands that’s equivalent to R46000. So after weighing my options I felt that Binary Options would be a great place to start considering the fact that the minimum for most brokers is $250. Patience being one of my greatest virtues, I dug a little deeper and found brokers where you can start with as little as $10.
Binary Options investing is very risky. I am not a technical person but Binary Options is about predicting whether a currency pair’s price will go up or down and for this you have a put or call action. If you get it right you earn a profit, if you’re wrong you lose the amount you wagered with, if there is no change you retain your wager.
I became aware of Binary Options about 2 years ago. After going through a lot of reviews I became discouraged because most reviews labeled them as gambling. I have to agree though somewhat with those views because they were partially right but trading in the forex stock market also bears the same risks. For us living in developing countries Binary Options is the most affordable form of investing.
In my research though I nearly fell victim to these notorious scams and luckily for me was able to identify them before investing my hard earned money. Research is very important and scam review sites are very helpful in quickly identifying these booby traps before you fall victim to them. I must say though that it’s a very confusing labyrth that you have to negotiate because even the scam review sites can also confuse you sometimes. One site would okay something and another one would completely obliterate whatever positive view you were starting to have about that product.
I’m happy to say that I have started my first $215 investment on Binary Options.