Binary Options trading is a fast & exciting form of trading where a trader enjoys opportunity to earn big payouts, by simply selecting an asset and speculating on it’s up or down movements. The various assets available, in form of company Stocks, Indices, Currency Pairs and Commodities, make Binary Options even more thrilling for all types of traders. Everyone from new to expert traders can find an asset that suits their skill or trading knowledge.
Steps to trade Binary Options
Binary Options trading is as easy as 1, 2, 3 with easy to understand steps. Once you know what is Binary Options, all you need to do is start trading by following few simple steps –
When you are ready to start trading Binary Options, you must also be clear about the type of trading you wish to opt for; whether you want a Digital, Turbo, One Touch or Range option.
You must know what trading product or type you wish to go with. The payout or returns for each trade depends upon the outcome of the trade and the trading type.
This is a crucial step, as an asset once selected determines your trading future.
Whether you have an understanding of Commodities, Stocks, Indices or Currency, it is important that you choose the asset that meets your trading skills. Go through the asset options available and select the one you wish to trade.
Call and Put are the key parts of Binary OptionsTrading as a lot depends upon your prediction or speculation.
Binary Options trading requires you to decide whether you wish to predict a rise (Call) of an asset or fall (Put) of its value.
By clicking “Call” you are trading on the growth of the selected asset in a given time. By Clicking on “Put” you are investing your money on the downfall of a selected asset in a given time.
This is the last step of Binary Options trading where you have to decide what amount you wish to invest on your selected asset, as you predict its rise or fall. Once selected, just submit your investment amount to enable the trade process.
Once an asset is selected, it is important that you decide and invest the amount you could afford to trade on. Do not invest amount that is unreasonable, specially if you are a new trader.
How to create an account?
An online trading with a Binary Options broker only begins when you open or register an account.
Opening an account is easy and requires you to filling a form with necessary details such as name, language, country, currency, date of birth, email, password for the account etc. You must abide by the eligibility criteria to create an account, as per the website’s terms.
Once the form is filled and the account is created, you are only one step away from your trading experience. Before you start selecting your preferred asset and filling in your investment money you wish to trade, it is important to fund your account. A Binary Options platform requires you to deposit funds in your account to finance your trading. The minimum deposit and maximum deposit amount varies from site to site.