Binary options trading has become popular all over the world as it enables traders to earn tons of money while having fun at the same time. Today, there are more than 500 active brokers in this industry. Binary trading is superior to gambling as you can enhance your winning chances by keeping yourselves updated on market and asset trends, and learning effective trading strategies. If we have not kindled your interest, read on to know about the many attractions of binary options. Plus, we also provide useful tips on how to select trustworthy brokers with whom you can invest in confidence.
Top Attractions of Binary Options Trading
To begin, binary trading is easy to understand and execute compared to the more complicated forex and stock trading. You simply need to forecast whether the price of your selected asset will rise or fall within the expiry time. Even those without financial knowledge can do this by doing basic research on the subject.
Binary investing gives you a good chance to make tons of money in a short period. Your prediction can fetch you money if the price of the asset rises or falls only a little as per your forecast. For example, if you wage that Microsoft’s stock will increase in value, the increase can be only as little as $0.01 after the expiry time for you to win the trade. The best part is returns are lucrative as top brokers offer attractive payouts. If the payout rate is 90% and you trade $100, you will get a handsome $190 if you win the trade.
Binary options traders need not be financial experts to succeed. You simply need to keep yourself updated on the latest trends and news in the financial industry to make educated predictions. For example, if a company announces plans to introduce a new service or product soon, you can be sure its stock will rise in the short term.
Binary trading allows you great flexibility and gives you the power to manage your investment amounts, risks, and potential gains or losses. Therefore, you will not be hit by big surprises as can happen when things go wrong when trading shares.
Top brokers excite interest by introducing innovations and tools in their platform and trade types. For example, you can increase your invested money as the trade is occurring, close the trade before the expiry time, and more. Invest a trade amount within your budget, make an informed prediction, and eagerly watch the clock to find out if your prediction turns out to be right. Binary trading is thus more interesting compared to staid stock trading.
The most popular binary options brokers use web-based trading platforms that you can access anytime, from anywhere. Plus, some brokers facilitate weekend trading so there’s never a dull moment. Simply find out whether the broker accepts traders from you country, visit their website, and get started immediately.
To safeguard investor money, many national governments have stepped in and legalized and regulated the industry. South Africa, Australia, Japan, Cyprus, UK, and US are forerunners in this aspect. Many other nations are planning to join in to make binary trading safe on their shores.
You can improve your social network while trading. Many brokers offer social trading features that enable you to share your strategies and experiences with other investors on social forums and networks that work just like Facebook.
Those addicted to gambling will find binary trading a better option as you can make educated predictions with a little research. This increases your chances of winning compared to the risky methods used in gambling.
You can manage your losses in binary trading. For example, you can invest only small sums of money and if you lose, it will not be a big deal. In contrast, you can be wiped out in stock trading if your stock value goes bust due to unforeseen events.
How to Choose Reliable Brokers
Though binary trading is undeniably attractive, you need to be careful when selecting brokers as there are a few shady operators in this industry. Follow the below tips to shortlist the best brokers with whom you can trade with confidence:
Select a regulated broker as they are required law to take steps to protect investors’ money and interests. Consult websites that list blacklisted brokers and avoid them at all costs.
Carefully go over the fine print on the broker’s website to learn about their terms and conditions. For instance, some brokers offer attractive bonuses but the catch is you need to execute a high amount of trade turnover to be able to withdraw the bonuses. Therefore, protect yourself from nasty surprises by reading the broker’s policies carefully.
Choose a broker that offers a demo account. This will help you to get familiar with the trading platform and other features before you invest money.
Check if the broker offers useful educational materials that can help to enhance your knowledge about tools and strategies.
Finally, contact them by phone or live chat to check the quality of their customer support. If you are not comfortable in English, find out if the broker offers support in your native language. Is support available round the clock?
Though binary trading offers attractive returns, do not give into greed. Start by trading in small amounts till you enhance your knowledge and gain confidence. In short, if you have some extra cash in hand, binary trading is a great way to increase it while having fun at the same time. For in-depth articles and analyses on top binary options brokers you can consult Financesonline.com reviews.