Undercurrents of Binary Trading
We have already described in general terms the principle of binary trading and its advantages binary options as a whole. In this material we want to dwell on the latent currents of this process and tell you how to avoid serious mistakes at the initial stage. These are simple recommendations which will help a beginner trader to make the right first steps on the way to financial success in binary trading.
Choosing the right broker for binary options
This issue is one of the most important in the binary options trading. After all, the company, whose services you will use during this process, will become your partner for a long time, to whom you will entrust your revolving funds of the trading deposit. In addition, your trading results will directly depend on services of a brokerage company. What peculiarities a client may encounter at choosing a broker?
We should start this issue by talking about scammers. The process of binary trading is connected, first of all, with finances, which attract various dishonest businessmen. The most common way to seize your funds is the so-called HYIP - a derivative of the well-known financial pyramids. The principle is simple: the broker on the aggressive advertising and beautifully painted advantages attracts clients. At the beginning it even provides many people with extra income, but traders face the problem of withdrawal of trading profit. At the moment when the sum on clients' accounts reaches critical mass, the broker simply disappears from the market together with your money. This simple example illustrates in all colors how easily you can get hooked by dealers. On this basis, linking their fate with a particular brokerage company, the trader should know the simple recommendations to make the right choice.
So, when considering the candidacy of partners, a trader, first of all, must familiarize himself with the legal basis of the broker's activity on the territory of your state. Licenses of world-respected financial regulators such as CySecThe securities broker, SPOs and so on, of course, are credible, but what will the private trader do if the broker with such licenses simply starts to cheat you - write to the Cyprus Securities Commission? Doubtful, and it is unlikely they will respond to your application! So when choosing a broker, you need to find out whether the company has a license from the local regulator. In the Russian Federation such a body is . - a public body with a fairly good reputation and cooperating with many government services.
The effectiveness of the ORFR is confirmed by the compensation fund, which insures customer funds from the bankruptcy of brokerage companies, as well as no-nonsense struggle of brokers for a license of this regulator of financial markets.
Broker trading conditions
In this matter, the trader, first of all, should be guided by his requirements and capabilities. If you do not have a lot of funds to invest in binary trading, you should not try to save up the necessary sum. Practice shows that brokers offering to begin trading with the deposit of $200-300 and being unknown, often turn out to be dishonest. Binary options brokers with minimal trading conditions, offer quality services and have been on the market for a long time. A simple example is the company Binomo.
According to the conditions of this company, a trader may start binary trading after depositing 10 dollars of working capital. In this case, the initial value of contracts completely corresponds to the parameters of trade on the minimum deposit and makes 1 dollar. The list of such trading conditions makes binary options trading not only affordable, but also safe in terms of financial risks.
Withdrawal of trading profits
Monetization of profits is the ultimate goal and the most enjoyable moment for every binary options trader. But to ensure that your trading result does not remain just a great figure on the trading terminal, a market participant when choosing a broker must learn all the intricacies of this process. Often, a broker is reluctant to part with clients' working capital, and especially when a trader has achieved excellent results. A company when withdrawing funds by a client can impose a lot of additional requirements: complicated verification process, certain level of trading account turnover, usage of definite payment system, high level of commissions. Considering this state of affairs, the trader, when choosing a broker of binary options, should fully study all the conditions of monetization in this company. A broker with a good reputation will try to make this process as easy as possible. The company Binomo, which we took for the main example, offers to withdraw funds to the client in 24 hours. In this case, if the client withdraws funds via the same service and to the same details that were used to deposit funds, the broker does not require additional verification of the client and does not impose any additional requirements. In addition, Binomo cooperates with a large list of payment systems, among which any client will find a convenient option:
But the main advantage of this company is the withdrawal time, which the company demonstrates in practice - only 3-4 hours. Such an indicator is an additional confirmation of the broker's reliability.
Choosing a trading terminal
In the early days of binary trading brokers of binary options for customers offered only a few options trading platformsThe situation has recently started to change for the better, but the process is very slow and does not meet all the requirements of market participants. Recently, the situation has started to change for the better, however, this process is very slow and does not meet all the requirements of market participants. To make trading with binary options as effective and comfortable as possible, a trader must choose a professional tool. Only few brokers offer really high quality platforms with high technical equipment:
In front of you see a terminal for trading binary options Binomo - this is the company's own development, which has the entire list of necessary equipment:
- Large traction chart size
- Changing the format of the graph and its display
- Indicator kit
- Quote history
- Convenient expiry range
- A good list of high-yield assets
- High speed trading
Using a platform with such indicators, the trader has the opportunity to increase the effectiveness of binary trading.
Education and experience are the cornerstone of financial success in binary trading. But while good level educational programs are not uncommon and are available on the websites of many companies, it is more difficult to gain experience. The whole problem is the lack of high quality training simulators. When offering a demo platform, many brokers treat this question rather lightly, if not worse. Often, the demo terminal is a stripped-down version of the broker's main trading platform at best, and at worst it is a simple, interactive software, on which you can learn only the basic steps of contract execution - asset selection, expiry date, trading buttons. You won't get any experience on such a simulator, and you will lose your deposit when you start real trading. That's why the choice of a demo platform for training must be as serious as the choice of the main trading platform for binary trading. The ideal option is the simulator of the same broker binary options Binomo:
This training terminal is a full version of the main platform with a full set of features. The only difference is that virtual funds are used for binary trading and you do not lose real money while gaining experience. Using Binomo demo account You can fully learn all the subtleties of the binary trading processes and when you switch to a real account, you won't feel any difference.
We have presented the main points and subtleties that beginners may encounter at the initial stage of binary trading. As a brief summary, let's highlight the main points that accompany success:
- Choosing the right broker
- Literacy in related financial matters
- Professional trading platform
- Mandatory use of a quality training simulator for training
Such a minimal list of recommendations will allow you to easily overcome the difficult initial stage of trading binary options and allow you to get an excellent result of profitable trading in the future.
If I had that much money right away, I wouldn’t risk investing that much under any circumstances. You always have to start small.
If you choose a good broker right away, you shouldn’t have any problems with binary options trading. There are far fewer people leaving binary options than Forex, because you can get results faster here.
You can make money faster, as well as lose it. The good thing here is that with 10 c.u. you can raise your deposit well, even on the first trading day. In Forex, it takes a couple of months to reach such results. I personally do not see any pitfalls here.