Along with PAMM accounts, binary options have become another opportunity for income generation for those who are just beginning to delve into the market of currency upheavals. Trading directly in Forex is still quite difficult for newcomers to understand (the basics of fundamental and technical analysis are a few months later), but everyone can try his hand without investing large amounts in binary options.
We immediately warn you that understanding the behavior of currency pairs in Forex is essential to formulate a strategy for working with binary options. However, as they say, “the appetite comes with eating.” The simplicity of this tool with a certain luck will bring income even without preparation, and then it’s easy to learn, learn and learn again! And diving headlong into an interesting trading on the Forex market!
Binary Options: Procedure
On the Internet, you can find a lot of information about binary options, but how difficult it is for a beginner to understand all this information flow. Because we decided to make a direct little guide to action.
So, you decided to get income on trading using binary options, your actions:
- Choose a trading platform where you will make transactions. How to do this is the topic of a separate article, and we will definitely pay attention to this. Most importantly, pay attention to how much the site exists, what feedback about it and what platform it uses;
- platform is software and a website (standard platforms are MetaTrader 4 and 5). Responsible intermediaries offer beginners to register in their personal account and open a trading account, using the demo version of the real market. That is, any novice user can try his hand absolutely free!
- after authorization in the demo version of the platform you need:
- select an option type and underlying asset;
- Make your forecast price trend;
- Specify the amount of funds that you theoretically want to make;
- purchase selected option;
- Get up to 100% of the income (about 70% on average) with the correct forecast.
Once again we emphasize that in the demo version after registering on the trading platform all user actions do not require any financial investments!
After successful completion of the demo version Welcome to the real world of binary options trading. We present the main conditions for real trading using one of the sites as an example. Of course, conditions may vary depending on the intermediary, but for an illustrative example of these data is enough.
So, in a real-life market, the working conditions are as follows:
- deposit currency: national currency, USD and Euro;
- rates: from 5 USD or 5 Euros;
- guaranteed return – 5%
- instruments: currency pairs (25 pieces), spot metals (2 poses), indices (2 poses);
- deadline: from a minute to 4 hours.
Well, we think that you have already received the first idea of what actions you need to take to trade binary options. All that remains for us to do is just to tell you: “Dare and you will succeed!”