WHAT CAN BE ACHIEVED USING BINARY OPTIONS BROKERS?
If you are interested in using and signing up with Binary Options Brokers, you are in the right place. I wanted to look into using Binary Options Brokers myself and to then share my experience of this and to see what is was like to use a binary options trading platform.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
So can you have a good experience using Binary Option Brokers? Yes, it is possible, however, like anything where you put your hard earned money into, an amount of caution needs to be taken. You can lose money too. A number of websites will claim that it is really easy to make money trading binary options – but again, I would urge you to be sceptical of such claims.
Binary options brokers carry out trades, by trading binaries in all sorts, for example; currency and stocks and oil.
Do You Need a Binary Options Trading Platform in 2020?
If you take a quick look around at other websites, some state that is you need to do to make some profit is to sign up and deposit your money with a Binary Options Trading Platform and away you go. Some binary options brokers websites will even tell you that you can make a high percentage return in the space of a day and that this can continue over and over again. These things draw you in and can make you think that they are a much better option that other investments, which offer much lower returns.
However I am here to urge to you proceed with caution when using Binary Options Brokers. You need to have a realistic and cautious mindset and make sure that the company you are dealing with is legit.
So we can look at the reality of trading with a Binary Options Trading Platform. You shouldn’t be looking to risk big amounts of money at any time. You need to be in the mindset of building a trading system for the long run.
I have a few tips for you below, if you are considering getting started.
Price movements.The way price movements are shown is usually by candlesticks charts. If you study these using a binary options trading platform, you may be able to learn to predict which way a price may move. They may seem confusing to begin with, however, if you put the time and effort in, you may get an understanding of these and learn the basic patterns and how they move.
Look at previous prices of assets that you are considering. Now, previous prices are no indication of what the future may hold, but some knowledge in this area can certainly help. This is where the help of a binary options broker or trader can come in. They are able to use stats and data and select binaries that have the potential to make a profit.
Keeping an eye on Price Trends. If you have noticed that the price of silver has been going up for a number of days, don’t be tempted to be sure that it will go down. Another example would be, if you see that Coca Cola prices are falling, don’t just assume that it will suddenly shoot up again, out of nowhere. Focusing on trends is often handy if you are trading binaries short term, when using binary options brokers. Going against the current trend can cause you big problems.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK. There is a risk attached when trading binary options (like any investment). Even if you have been given some kind of big tip, these can easily go wrong. Go slowly with your balance, be clever about it. Obviously the rewards can be big too.
Gain some experience before putting any money down. There are a number of brokers who offer demo accounts. You are able to carry out trades on this practice account, without putting any of your own money down. You can have a look around the binary options platform and get a feel for it.
The Different Options Available
So, we can take a look at the different types of binary options trading that you can look to get into. If you wish to keep it simple, you can look at what are known as up and down options (these can also be called high and low options). It is your job (or with the assistance of a trader) to decide whether the price of the particular asset will either be up or down, when the option expires.
Then, there is one touch binary options trading. These are also pretty straightforward. The idea is to predict whether the price of the asset will get to a certain level, before the option expires. The majority of binary brokers will offer this kind of option.
The next you can look to trade, are range options. You then have to decide whether this asset will either stay within, or move outside or particular price range. You can do this with these binaries, until the option ends.
Now how long you have for these binaries to end or expire, varies. Some can be one minute, some can be hours.
Who Does This Kind of Trading?
Everyone is different. Usually the people who use a binary options trading platform can be fall into one of three types of person. Do any of these sound like you?
The first type of person is one that like to take a big risk. They like to gamble. They might love the casino type game and just like to take a punt for the win. This kind of person likes to take the chance, rather than studying and looking at stats. As I have explained earlier, this is a risky game, therefore this approach would be a dangerous one to take.
Next up, would be the person who likes investments. This kind of person wants to get involved with binaries with the plan to add to their portfolio. So he or she may invest in the big well known companies (Amazon, Facebook etc) and then also mention that they do binary options trading. The investor may not fully be aware of the high risk involvement here and just chase the potential high reward, which could lead to a loss.
Then it comes to the realist. Someone who is level headed. This person is aware that binary options trading comes with risks (RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK). They understand that analysing data and having a grasp of the technicalities of binary options trading, will help them. This is the kind of group you want to be in.
Binary Options Trading Platform
If you are looking for a binary options trading platform, you are likely to be interested in the potential benefits. High returns are often advertised (but remember the high risks). Compare this to someone who usually trades in stocks and shares, they would be quite happy with a 10% return for the year.
A Binary options trading platform is pretty easy to get involved in. You can open an account and start trading almost straight away. I would always advise to try with a demo account before putting any money in.
One Binary Options Trading platform that I like is IQOption It has the following features:
- Free Demo Account that you can play around with
- Technical Analysis that you can use
- Risk Management tools to help you
- Trading Community – others that you can discuss trading with
- Trade Stock, Binary Options, Forex and Crypto – the choice is yours
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
As mentioned earlier, binary options trading end pretty quickly, so you can then move on to different trades, on the platform you are using. You can go in and come out of a trade in as little as one minute, should you choose this option.
If you are interested in taking a look, the recommendation is to visit here and you can create a demo account and get a feel for things, and then see whether binary options trading is for you.
General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.