How to trade with binary option – beginners guide
Even though many people think that trading binary options are an easy thing, you still need to have some level of skills to earn money. If you want to be a successful trader, you should start learning the basics right away. This can be a good part – time job, and you can earn a lot of money. Binary options are trendy because of its flexibility, and you can trade them anytime, you just need an internet connection and a computer or smartphone. Most of the platforms are online based, so you don’t need to download anything.
Find a good broker or trading software
Before you start trading binary options, you need to find a good online broker or trading software. If you have experience, we recommend you to use binary options platform, on the other hand, if you lack in experience, a trading software will be a right solution for you. The trading software will place the trades instead of you; you just need to deposit the money. The best reading software on the market is the Orion Code. It is crucial to find a reliable broker because it won’t scam you for the money.
Open an account
This is a simple procedure, and it will only take you a few minutes. You just need to fill out the form and place your data. Of course, the part of this process is depositing the money. Usually, binary options brokers charge $250, and that is the minimum deposit. In case you don’t like the trading platform, you can close the account, and the money will be returned to you.
Choose an asset
In this case, you can select between various assets and the most popular ones are commodities, currency pairs, stocks, and indices. The fewer assets you have, the limited your choices are. Make sure to find a broker who has a lot of assets to offer.
Select an option
Once you determine which asset you want to trade, it’s time to choose a binary option. Call and put, one touch and boundary options are prevalent at the moment. In each case, you predict the movement of price, whether the price will go up or down at a particular time in the future. The only difference is the time of expiration; some options will expire in 60 seconds while others in one hour.