Binary trading. Anyone have any experience with this?
I've been looking for a way to make some money at home, and came across a company called Magnum Options. They're a binary options broker, and from what I've looked into online, I've found nothing to suggest that they're a scam.
I talked to one of their brokers today, asked a lot of questions, and they sound legit, but I sometimes am easily persuaded to trust people, so I'm not entirely sure that my opinion is valid in this case.
The minimum amount needed to start trading is $260CDN, that would activate the account I've already made. It may not sound like a lot of money, but we're not rich by any means, and really can't spare that kind of money in one shot, especially not this time of year with kids birthdays, school supplies and school fees, coming up. So if I'm going to invest this money, I have to know for sure that this is a legitimate company, and a legitimate way to make money.
My husband has wanted to get into trading for a while now, and so have I, but I will say, neither of us has any idea what we're doing in that regard. This company offers a free ebook explaining how to trade successfully, and they have 24/7 support line you can call, and you're assigned a broker that will help with any questions you have, and help you to make good deals. That broker gets a small percentage (you get 81%) of whatever money you make, so it's in their best interest to make sure you make good deals.
Is this too good to be true, or do you think I should consider spending this money and hoping it works out?
My sister in law made quite a bit of money in trading, so I know it can be done, but can it be done by someone with no knowledge about any of this, or am I going to lose the $260CDN if I go forward with this?
Any advice?