- The realistic point of view
- The payout seems unrealistic
- Details of the demo account missing
- Limited assets
- Features are limited for the new traders
- Cluttered website
Have you been choosing the wrong trading brokers in the past? Have you lost a lot of money because of your wrong decisions? This means that you need to investigate a broker before making your choice?
We will dig down into ggbinary and let you know the reasons why you should avoid this broker. We explored this broker in detail and figured out that it is not regulated. Now, going for a broker that is not regulated can turn out to be quite risky.
You are more vulnerable towards losses because no regulatory bodies are monitoring the activities of the broker.
ggbinary commits to a payout of about 93%. Well, the payout seems too high and difficult to acquire in the real world. The reason is that when you trade binary options, then the chances of losses are always there.
Now, ggbinary does offer a demo account. However, you should not be very excited about the demo. The reason is that in most of the cases, the trader has access to only limited features in the demo account. Ideally, the website should have listed the details of the demo on the site but it is not the case here.
When you are selecting a trading broker, then the available trading assets do make a difference. The issue with ggbinary is that the available assets are quite limited. You have access to 100 assets only and that is a limited number.
The biggest mistake most traders do is that they get carried away by the features offered. Well, it should not be the case by any means at all. For example, a sentiment indicator is an excellent tool, but it may not be sufficient for a new trader.
When you are placing a trade, then you need to look at many parameters. You need to analyze your trading strategy and the market sentiment. Plus, you have to evaluate your skillset as well. ggbinary needs to cater to the needs of these new traders as well who lack market experience.
Another aspect that we did not appreciate about ggbinary is that the website looks quite cluttered. Though the interface seems easy the website fails to set an impression on the onlooker.
Refrain from opting for ggbinary as it may not live up to your expectations. The above discussion showcases one thing for sure, and that is ggbinary needs a lot of improvement. The smarter move will be to go for a broker that already has an established reputation. This way your investment will not be on the line.
We could not find out any details about the founder and team on the website of ggbinary, so this was yet another discouraging element for us. You should always go for a broker that goes the extra mile to develop a level of trust and it seems that ggbinary will not be able to win your trust.