How to Trade Binary Options?
Binary Options became a very popular earning financial instrument among traders and random individuals. The reason behind this trend is its simplicity. The individual has to predict whether the market goes up or down. If his prediction goes right, then he is in the money (ITM) and can make a profit up to 85% on a single trade. That means the potential of making large money are high. However, it is not gambling and first you need to learn basics to make profits.
Open an Account
The first step is to find a reliable and top reputable broker. The list of recommended companies can be found above. You can read their reviews to get detailed information. After choosing the broker, open an account. Some offer a demo account after opening the real. If you are a novice trader, better practice on demo accounts to know the basics, such as executing a trade, different option types etc. If your chosen binary options broker does not provide a demo account, you can risk as low as 1$. It is a minimum risk, and it is advised not to risk much before you master trading skills. For starters, there is no need of large capital, the minimum deposit is 250$.
Binary Option Types
One of the great benefits of trading binary options is that there is no need to download any software. You can trade online by visiting the broker’s website. Their platforms have been developed significantly since its first launch. There are various trading opportunities. The standard and most famous is call/put options. You need to predict the direction of the market. For more active market participants, it is possible to make short-term predictions such as 30, 60, 120 seconds. Moreover, there are trading options such as Roll Over, One Touch, Sell Early, Ladder etc. Once you develop a trading strategy that works, you can make a considerable amount of money. If you have no prior experience, read our articles.
Learn How to Trade Binary Options
The next step is developing winning trading methods. If you are serious about this industry and want to become a full-time trader and make living with it, then you must learn the basics. The Binary Options is easy if you have an understanding of the market. However, if you simply follow your gut, when predicting the market movement, it means you are gambling. You may find a lot of trading materials online, but we recommend verified resources. The good start will be Trading Library. There are hundreds of trading and investing books that help you to master the art of trading.
If you are looking for additional income, you may prefer to use trading signals. There are hundreds of signals providers. It can be paid or free. Do not simply follow any signal providers. We made a list of recommended signal providers on the current market. Do not trust some online statements that say 99% Winning rate. It is not possible to have such a high rate.