Binary option s first introduced in 2011. It is a fast and simple platform that allows investors to invest money in various commodities. The trades are placed on the expected price of commodities. That is either it goes up and either down. If the prediction is right and trade is placed right on time then the profits are yours. The minimum time of trade is 60 seconds and the maximum lasts for days.
Before you select any commodity, you need to check the return payout percentage. For example, a commodity offers 70% of return that means if you invest 100 dollars then in return you will get seventy dollars. If the prediction is wrong then all the hindered dollars will be lost. It seems quite riskier but after spending some time you will be able to predict the right rates of commodities.
To start trading in binary options you need to select a website or application that offers online trading. After this, you will be provided with a demo account to get some experience of trading. To start real money trading, you need to deposit at least ten dollars in the account.
Minimum trade of one dollar can be placed at a time. If you are completely new to this platform then it is recommended to watch free training videos that are available on the selected website and application. Moving further, let’s have a complete binary option broker review in simple words.
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Steps to start trading in binary option
Select a broker
In the past, various fraud brokers are present that does fraud with real money of the user. But today, every broker needs a valid license to offers its services on this platform. It reduces the risk of being a fraud and now the trader can do safe trading. Don’t ever choose the broker who is in the blacklist or reflects is a scam page.
Choose an asset
The number of assets varies with a broker to broker. However, most of the broker offers the maximum number of commodities. Try to select some of the major and popular commodity, currency, stock, etc. for the trading. Don’t forget to check the payout percentage offered on the trading. The asset list is always clearly visible on every trading platform.
Chose the expiry time
The expiry time refers to the time at which the trade is closed. It ranges from 60 seconds to a year. However, the trader is demanding a very short expiry time in binary options. This is because of earning more profit in less time. We would recommend you to start with minimum time. After getting some experience you can move for increases expiry time.
This is all you need to do in placing trade o binary options. It is easy and does not require any complications. If you are thinking to start trading then it would be the best option. There you will get highly advanced predicting tools, through which you can predict the accurate rates.
For more information on binary option broker review, you can read various tutorials and watch free training videos. It is easily available on many online trading offerings websites.