If you want to get money with binary options trading, you have to understand that trading skills are not the only factor for success of your trading. In addition to trading, it is important to organize financial management, analyze your activities. You should build relations with the broker properly, so to obtain the maximum benefits and privileges. In this article we look at this moment. How to interact effectively with the broker? In preparing this material, we talked with several successful traders. And we hope that their personal experience will help to make the path from novice to a successful trader shorter.
You are communicating with broker through a broker’s specialists. So, quite a lot depends on them. How to treat them? Usually diametrically opposed opinions exist. Someone thinks they will do for you almost all the work, but you will only receive income (romantic view, usually from novice traders), someone thinks that the task of these people is to persuade you put the maximum amount to your account, so to get these money (people with negative experience think like this).
In fact, you need to understand the following – a broker specialist is a tool that should be used wisely. Consultant is like a hammer: a hammer can be used to pound a nail or it can damage your finger if you hit it.
So to use “the tool” wisely you should understand that, there are exist:
1) Your personal interests.
2) Broker interests.
3) Broker specialists’ interests.
You are interested in bigger and more regular profit, as well as to receive benefits from the broker. A broker goal is your trading. Broker wants you trade always. In case of failure you add money to your account and if the trade is successful, you will trade more. All broker efforts are aimed to it. Broker specialists’ (experts) aim is more difficult to identify. In many ways they are linked to broker interests, but not always directly. Therefore, your task is to give the impression to broker specialists that they will be able to realize their aims if they help you.
Almost immediately after registration you will receive a call from a consultant who will say something like this: “Hello, my goal is to help you to understand and start trading!” Of course, his task is to persuade you to make a deposit and start trading. It is desirable for him, if it will be immediately and with maximum amounts. He starts with some questions, so to understand your trade experience and expected level of deposit. Then he will offer you a specific package (or types of accounts).
Recommendations for communication with the consultant:
1) Show yourself as more valuable customer than you are. Say you want to start, for example, with 300-400 dollars, and after you will know more about platform you will be ready to increase deposit up to 3000-4000.
2) You should find out what privileges exist at all. You have to understand that you can often get a much better condition than stated on the website. I worked with several brokers and received the privileges of VIP package making a deposit not more than $ 1,000. This happened because I understand the following: the purpose of the consultant is my deposit, will I lose or get money after – it does not matter, because he only interested in attracting me as a customer. Therefore he begins with information about possible profits, existing packages… And then, so to persuade me to make a deposit as soon as possible, he propose some extra benefits, as an exception to the rule, “only for you and only today”.
3) You will get the proposal of bonuses, privileges… Always check all the conditions for profitable bonuses thoroughly. For example, many brokers, in case of bonuses impose restrictions on the withdrawal of profits or even the principal amount. Therefore, the more interesting the proposal, the more particularly it should be evaluated. Ask the specialists to sent by e-mail everything you agreed by phone. This is important, since often happen that you are awaiting one thing and getting another.
Further, in many platforms another person will be responsible for communication with you (often called as a broker). Broker should help you to master the skills of trade. In fact, he will help you learn something, if you push him. My experience has shown that often trading specialists say something like this: “Consider the financial trading seriously, increase your deposit and lets learn the trading.” In this case, they just want me to increase the amount of deposit and start trading.
Recommendations for communication with trading experts (often also called as brokers):
1) He must be sure that a deposit will be put on withdrawal, if there will be no help from him in every way.
2) He must be sure that if you will don’t like something, you will write a request to replace him with another specialist. Such things have a negative impact on his reputation for the employer.
3) The specialist must be sure that you will add 5,000 – 10,000 after you will get a positive result.
These simple rules of interaction I understand from my experience of trading. And it helped me to understand binary options trading more and get profit from my first deposit. Perhaps my assistant (broker) was not very happy with fact that I put only 500 dollars and received attention equal to 5,000 USD deposit. But I had decently understood the basics of trading, mastered the economic calendar and learned how to work with a live schedule. After that, I was able to create my own trading strategy. I’m recommending you to use these tips for a more productive interaction with the platform.
P.s. For those who interested, I tried to use these tips during communication with Utrader specialists and not without success. After reception of VIP status and certain preferences I was able significantly increase my deposit using some strategies and ideas presented at this site.