What are Binary Options?
A binary option is a financial option whereby the monetary outcome can be a fixed amount or nothing. There are actually two types of binary options, which you might not have heard of, and these are; cash-or-nothing binary option & asset-or-nothing binary option. The type of option that is most frequent is the cash-or-nothing type of option.
How do they work?
Binary Options are a simple yes or no contract. You are basically placing a bet as to whether a certain asset will be above or below a certain price, at a certain time. If someone believes that for instance, EUR/USD will rise in value over the next 60 seconds, then he/she will place a buy option on that pair. If the pair does rise above his/hers entry level, then they will have won. If however the pair falls below the entry point, then they will have lost. One of the good things about trading binary options is that you can obviously make money, unlike normal trading, if you enter into a position and lose, you only lose the money you put into that trade. Whereas with normal trading, if you’re on the losing side of a trade, you can lose more than what you put in.
So you can see here is the typical screen of someone using Binary Options on their phone. Let’s have a look at some of the important features that you’ll see on a typical platform:
- First and foremost, this is the chart area where you’ll see live price movement. It will chop and change very frequently, especially on lower time frames such as the 1 minute. The higher you go the slower it will move.
- This is asset that you’ll be placing your trades on. It’s extremely important to make sure you know which asset you’re looking at and trading.
- This shows you how much time is left on your option. If you bought and the asset is above your entry you will profit. If you are selling and price is below your entry then you’ll profit.
- This lets you choose how much you wish to invest in a particular option. The more you invest, the higher your return will be.
- These 2 buttons initiate a buying option or a selling option on the asset.
- This shows when your option expires.
Watch this short tutorial on how to get started with Binary Options:
🇬🇧 Binary Options Signals & Platforms Reviews UK 🇬🇧
How To Succeed With Binary Options
☑️ Introduction ☑️
Forex trading requires three components:
- ⏱ Broker
- ✅ Platform
- 💰 Capital
Select A Broker
In order for you to trade Binary Options, you need to use the services of a broker that can connect you to the financial markets. A key thing to consider when choosing a broker is whether they are regulated. There are some unregulated brokers, but doesn’t mean that they are run by crooks or scam artists, but what this means is that you must do your research first. All the brokers that I’ve select are regulated by either the FCA (Financial Conduct Authority) or CySEC (Cyprus Securities Exchange Commission) , which are the official regulatory bodies for the UK and Cyprus.
To read more information on Binary Options Brokers. Click Here
Select A Signals Provider
Binary signals are alerts that are sent out from a provider and are used to trade binary options contracts. They are typically sent out via SMS or in some cases via Email. The receiver will read the alert which will contain an asset class (Currency pair, commodity, Index). The alert may also contain information on where to place your Stop Loss to protect your capital, as well as the specific time frame to trade on. I’ve limited this list to 3 signals providers, because too much choice can be quite off putting.
|Signals Provider||Win Rate||Rating|
|85% Win Rate||Review|
|72% Win Rate||Review|
|68% Win Rate||Review|
⛔️ A Note On Scams ⛔️
The main reason for scams are sales commissions.
Most finance people make more money from fees than investment returns.
They are also bonehead stupid.
A glamorous lifestyle and piles of money don’t happen overnight.
Please remember this when you are looking at different trading systems.
⚠ Disclaimer ⚠
It's ALL a numbers game.
Don't fall for scams which promise money for nothing.
If you can make $5,000 'overnight', think about how much you need to risk to make that profit.
Money doesn't come from nowhere. Someone has to lose for you to win.
Currency trading works by you purchasing different currencies, pocketing a profit when you sell them back for a higher conversion ratio. There's no magic bullet or hidden secret.
To discern whether a product is a scam, think about how much money you need to personally risk in order to make the promised returns.
If the answer is more than you're comfortably willing to lose, it won't work for you.