How do I make money on Pocket Option?
Binary Options Broker Pocket Option offers clients to make money by concluding contracts on the price movement of an asset. Trading Binary Options is considered among traders as one of the best options for earning on short timeframes. In essence - binary options trading is betting on the fall or rise of the price. The competent approach to this type of trading can bring high earnings, but also carries the risk of losses. Let's see how to make money on pocketoption.comWhat to start with and what to be afraid of.
To start earning by trading with BO broker Pocket Option you need to register and verify your identity. Verification on the broker's website is a mandatory procedure. Confirmation of identity will allow you to protect your account and funds from unauthorized access. After verification of the account, it is necessary to replenish the deposit. Depositing on the platform is available from a bank card, e-wallets and cryptocurrencies. After depositing the account, you can start trading in BO.
The principle of trading on pocketoption.com is simple. You need to choose an asset, configure the terminal, customize the instruments and open a contract. But, it is easy only for an experienced trader, while beginners are often lost with the abundance of assets and instruments, not knowing what to give preference to. If this is your first time on Pocket Option, you should first understand the functionality of the platform:
- Demo and Real Accounts. On the broker's website you can open demo and real accounts for fast options trading, digital trading and Forex trading.
- Fast trade. This is an options trading terminal for short timeframes. Here you can earn on the price movements of currency pairs, cryptocurrencies, stocks, indices and commodities. The terminal supports signals, indicators and transaction copying. The feature of fast trading is the installation of minimum timeframes (from 30 sec).
- Digital Commerce. This is the traditional type of binary options trading. When choosing this type of trading, you need to choose one of the fixed timeframes, select an asset and set the contract price. Here you can also earn on contracts with currency pairs, indices, commodities, stocks and cryptocurrencies.
- Forex Trading. To work in the market Forex platform offers the MT5 terminal. This type of trading is suitable for experienced traders. Bonuses do not work here and it is impossible to cancel a losing trade.
Having chosen the trading type, asset and timeframe, you can proceed to the selection of instruments. Pocket Option offers traders 80+ indicators, oscillators, charting tools and signals. To select instruments, read the information about available Binary options trading strategies. The trading strategy instructions describe the settings for each instrument. They can be changed according to your trading tactics.
After setting up the terminal and instruments, you can start buying contracts. If the trend is ascending, the contract on price increase is bought, if the trend is descending - on price decrease. Beginners can copy deals of experienced traders in the terminal 10 seconds after they appear. To copy a trade, select a contract and press the "Copy Signal" button. The contract will be copied with the original settings (amount, timeframe, price direction). If you close the contract in the plus, you will instantly get the amount of bet and profit to your account. The amount of profit can also be viewed in the terminal. At Pocket Option the income from a deal is from 70%.
If you decide to cancel a trade, you can do so in the first few seconds after it opens. To cancel a contract, go to the "Deals" tab in the trading terminal. Here you will see all open contracts. Select the trade you wish to cancel and click the "Close" button next to it.
End of the trading day
When you reach your goal, you need to close the trading day and withdraw your earnings. You can withdraw money not every day, but according to a predetermined schedule. You can learn more about the procedure of earnings withdrawal here. Also you need to close the trading day, if the loss limit, set according to the principles of money management. Register on the broker's website, open a trading account and start earning on binary options trading, but do not forget that you should start trading with clear goals and a plan for financial management.