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I came across this thread during my research. I thought I should comment on here now that I have used this site as some of the opinions here aren’t based on fact, are disproportionate and are slightly unfair.
Here are my findings:
I was new to trading, but I saw their TV ad and was interested so I investigated but I went into this with a skeptical mind. I was really surprised by the knowledge of the account managers - I was expecting a hard-sell. But they help me understand and to get started.
I have made aprox 20% over-all return (more good days than bad) and I have withdrawn funds with ease
They are licensed and regulated - by the LGA. I don’t know that much about this organization but what research I have done, they check-out. I wouldn’t trade with a non-licensed/regulated company.
Binary Trading isn’t for everyone, it takes a certain amount of intellectual investment, but now that I ‘get it’, I can make it work.0 -
sam.sawyer wrote: »I came across this thread during my research. I thought I should comment on here now that I have used this site as some of the opinions here aren’t based on fact, are disproportionate and are slightly unfair.
Here are my findings:
I was new to trading, but I saw their TV ad and was interested so I investigated but I went into this with a skeptical mind. I was really surprised by the knowledge of the account managers - I was expecting a hard-sell. But they help me understand and to get started.
I have made aprox 20% over-all return (more good days than bad) and I have withdrawn funds with ease
They are licensed and regulated - by the LGA. I don’t know that much about this organization but what research I have done, they check-out. I wouldn’t trade with a non-licensed/regulated company.
Binary Trading isn’t for everyone, it takes a certain amount of intellectual investment, but now that I ‘get it’, I can make it work.
The poster above really sounds like the company themselves pretending to be a customer.
I'd take the review with a pinch of salt.
1. Don't trade with any company that isn't regulated by the FSA. It's not worth the risk.
2. Remember high gains = high risk and you won't realise the risk until you lose all of your money.
3. Companies like that make profit. How? Well everybody doesn't win, that's for sure. On average, you will lose. It's like a casino, but with worse odds.0 -
The poster above really sounds like the company themselves pretending to be a customer.
I'd take the review with a pinch of salt.
1. Don't trade with any company that isn't regulated by the FSA. It's not worth the risk.
2. Remember high gains = high risk and you won't realise the risk until you lose all of your money.
3. Companies like that make profit. How? Well everybody doesn't win, that's for sure. On average, you will lose. It's like a casino, but with worse odds.
Jamiex
Agree very much with you on Point 1 and 2 of your post. A lot of newbies become unstuck on binary, currency and options betting purely because of over-leverage too
With the casino odds on point 3 though, maybe the odds aren't that bad. It is down to lack of a punter's money management skills if they lay down too high a percentage of their account on each bet. That is the real killer for all forms of trading, including equities.
Short term traders should not leave themselves open to potential losses of more than 2% OR 3% on each trade. Stop losses and sensible stakes per point need to be used.
Also to sam.sawyer, why should a UK resident bother to do this trading with an LGA registered company when there are the likes of IG Index, City Index etc who have been around for many years. Granted they are overseen by the Gambling Commission but after all, this is betting.0 -
Isn't it amazing that the company show up all of a sudden after a glowing review, and that they've been watching all this time without responding to all of the criticism.
Why should anyone take the company's word for it that it is safe to trade with them? There are plenty of alternatives out there that are regulated by the FSA and are fully UK based.
There is no guarantee that this company will exist in a year. Why would anyone take the risk?
As an aside, I really don't think this form of gambling is sensible for anyone. Many people don't understand what they're doing and anyone who does would probably be using IG Index or CMC Markets anyway.
I think this company preys on the desperate as well as stupid people with the promise of making a huge amount of money very quickly. Would casinos be advertising a potential 100% return when betting on red or black? I'm not even sure that they'd be allowed to, and I don't see how this is any different...0 -
Hey Guys,
I'm new on the forum, been a regular visitor of the site just never jumped on here til now. A few days ago my friend mentioned this site to me, seemed skeptical (still am, more so after going through the comments here), if its too good to be true it usually is-i think this site is an example of that.
I signed up thinking there is no minimum deposit but there is and its not £10, £20 or £100 its £200! That point i STOPPED backed up and search MSE's forum for these guys (should've done this in the first place) have a feeling I'll be getting spammed now but at least they don't have my bank details.
I'll get more details from my friend who uses this and let you guys know. But if I'm honest this sounds too risky. Of course everything entails risk but there's calculated risk and blind moronic risk, I'm not in the mindset of doing the latter.
Happy New Year all
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[edit] This post is quite long, but if you want a chuckle its worth a read. if you want to skim read, just read the bold.
Hey, I've only just come accross this. To re-word the current unbiased posts am I right in saying:
This company is like betting on red or black on Roulette:
a) 50:50 chance of win if you are a novice (presumeably if you arent you wouldn't use it)
b) rolling 0 in roulette is similar in theory to the fees.
It differes in that:
a) In roulette you win or lose 100%. In onetwotrade you win 70% or lose 95% on the same odds.
b) If you play roulette once and you don't like it you can walk away having risked £10. If you try onetwotrade and stop you are subsequently fined for not playing.
c) Minimum risk in roulette is £2.50 on red or black in my local casino. Minimum risk on onetwotrade is £104 - a minimum £10 bet and £50 fee to withdraw your funds and 11x£4 fines for not playing the next 11 months (less than the risk of 11x£10 minimum bets to avoid the fine).
d) Roulette, if you hit 0 you're done and can walk away. In onetwotrade if I hit 0 I get fined everymonth for the remainder of my contract or deposit a further £200 (£50 of which is a guaranteed loss when I withdraw).
Sound right?
A little maths to show the risk:
I bet £1 in the casino on red, and black in the same game. Play 37 games and I have only lost £2 (36x red or black, 1x 0).
I bet £1 on up and down in onetwotrade 37 times and I win 37*70% = £25.90 and lose 37*95% = £35.15 Thats a net loss of £9.25, over 4.5 times that of casino roulette.
Looking at a near real example, taking into account minimum deposit and some fees, starting with the £200 deposit played carefully over 37 games across a year to avoid non playing fees.
Casino: on average net loss £5.40 (£200 / 37 = loss of betting on red and black when a zero rolls). Thats 2.7% of original stake.
onetwotrade: average loss of £25. and then a £50 fee to withdraw and close the account. Net loss £75. Thats 37.5% of your stake. (not exactly possible as minimum stake is £10 and our stake on £200 over 37 games is £5.40, but it shows the odds, you could play around 18 games at £10 and the figures would be the same)
"But with onetwotrade when you get good it's better than 50:50 chance of winning!" I hear you say! Possibly true, so lets look at how good you need to be.
There's a bit more maths which I can share if you like, simple but long. Essentially you need to win 27% more games than loss... to get the same odds as the casino. And that DOESNT take into account the £50 withdrawal fee, just the 70% per win and 95% per loss.
You need to win 35.6% more games than you lose to break even, and then pay your £50 withdrawal.
You have to beat that % to start to recoup your £50. If that hasn't put you off enough if you win just over 45% more than you lose (damn you're good, go get hired by IG Index), and you bet £10 every 30minutes you can earn a STAGGERING.. *drum role* £6.19 per hour. A whopping minimum wage. and still pay £50 everytime you need to withdraw...
Summary
Yes you CAN WIN. But you CAN ALSO WIN in a casino, which gives MASSIVELY better odds, it's quicker, you can risk less, it's more fun and you aren't DELUDING yourself that it's not (an incredibly stupid form of) gambling.
You've been mathed.
-NS
ps. let me know if I missed anything!0 -
One more quick thought: If you argue that you can practice and get good to consistantly win over 35.6% more games than you lose, and then just bet massively to earn a tonne of money on average so the £50fee becomes insignificant, consider this...
ignoring the fact that you are amazing and can earn more by seeking employment through a bank and trading their money (no risk to you either), there will be nothing in their t&c's allowing you to continue. If I owned onetwotrade I would automatically close accounts (and block your bank details from registering new accounts) who consistantly won over 30% of the time. Account close, you get your money back -£50 fee. Almost zero risk to them of you winning.
"but they get 30% of your winnings, why would they do that?" Maybe they don't get 30% of your winnings. Maybe they never invest the money you give them and just take the money from the odds given above. That's what I'd do. Customer needs more skill than realistically possible to get money off me, if they have that skill block their account. As close as matters to nearly zero risk.
Basically they can be a casino, with the odds way more in their favour.
Wow.. I've convinced myself that I should copy their business.. all I need is a website that displays information about stock exchanges and has the facilities to take payments..0 -
I am not sure why anyone would use time to trade/gamble with £10/20/100/500 personally. As others have pointed out they are not FSA registered so too risky to place a large enough sum to make it worthwhile imho.
Having said that, I think existing users on here are incredibly closed-minded and set in their ways. Something new is not always a scam or something to be avoided without consideration.
J0 -
NinjaSquidy wrote: »One more quick thought: If you argue that you can practice and get good to consistantly win over 35.6% more games than you lose, and then just bet massively to earn a tonne of money on average so the £50fee becomes insignificant, consider this...
ignoring the fact that you are amazing and can earn more by seeking employment through a bank and trading their money (no risk to you either), there will be nothing in their t&c's allowing you to continue. If I owned onetwotrade I would automatically close accounts (and block your bank details from registering new accounts) who consistantly won over 30% of the time. Account close, you get your money back -£50 fee. Almost zero risk to them of you winning.
"but they get 30% of your winnings, why would they do that?" Maybe they don't get 30% of your winnings. Maybe they never invest the money you give them and just take the money from the odds given above. That's what I'd do. Customer needs more skill than realistically possible to get money off me, if they have that skill block their account. As close as matters to nearly zero risk.
Basically they can be a casino, with the odds way more in their favour.
Wow.. I've convinced myself that I should copy their business.. all I need is a website that displays information about stock exchanges and has the facilities to take payments..
This is a valid point and why I do not use spread betting, I use CFD's instead - because you are not playing against the house.
J0 -
Hi, been a viewer of these forums for a long time but never really seen the need in joining. That was until I saw an add on UK tv for this site and became enraged almost instantly.
heres my tips for others that may be new here.
1. As a general rule, your should pay attention to members with substantial posts and as many "Thanks" as you can find. - and all of them, not some, all of them are against this site.
2. Im not a stock market trader im a saleman, and all of them posts promoting this site, all of them, are sales pitches. And who sells a product, the owners of course.
3. if its to good to be true, its not true. Depsite reading warnings here in the past I have ignored them, just twice, and now I listen to the advice of the veteran members.
Summary
Stay away from this site its bad news.0
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