Advanced Features in Binary Options
There are many advanced features in binary options and some of them might be unique to some brokers. On this page we’ll discuss the most common special features that are the options builder feature, the expiry extension feature, the close feature and the double investment feature.
Options Builder Feature
The options builder tool is one of the most popular tools in financial trading. This tool allows traders to create their own trading contracts. In other words, traders will have the possibility to choose their own expiry times, set their own investment amount and decide on their own payout rates.
Regular binary betting contracts always come with predefined payout rates, expiry times and other characteristics. This means that your usage of trading strategy will be limited. However, if your broker has an options builder feature then you’ll be able to create your own options.
Close Options Before the Expiry
Another very useful tool is to close your trading contract before the time of the expiry. This function will be extremely useful in those situations when you know for sure that your prediction will not come true. In this case, you’ll have the possibility to close your options contract.
Closing your contract will allow you to recover some of the money invested back. How much money you’ll be able to recover depends from broker to broker. Most commonly, you can recover between 50% and 90% of your initial investment. – Much better than losing 100% of your investment.
Extend an Option’s Expiry Time
Yet another great feature in binary options is the possibility to extend the expiry time of a contract. This tool will come in handy in situations in where you’re very close to the original expiry and it appears that your prediction will not come true by the time of the expiry, however it would come true shortly after the expiry.
These are extremely annoying situations. Knowing that you will lose, however, if you’d have just 1 minute more on your disposal you’d win for sure is very frustrating. Some brokers have a remedy for this frustration, which is offering the possibility to extend the deadline of your option.
Most commonly, you’ll be able to extend the expiry of an option with 1 to 10 minutes. This is more than enough to make an accurate prediction. However, in exchange the broker will require you to place a new bet of around 10% to 30% of the original bet. – If you win, you will of course win 10% to 30% more than originally.
Double the Investment Amount
Some brokers also give traders the possibility to double their investment amount after financial trading contract has already been purchased. This tool gives traders the possibility to invest additional money in a binary options contract they are sure they will win.
In case a trader is sure that a purchased contract will be 100% successful, then it’s definitely advantageous to double the initial investment amount. This tool also allows traders to place very low investments initially and only increase the original investment amount to the originally intended amount when they are sure that the contract would be won.
Which are the Best Tools to Use?
In our opinion, all the tools that were described above are very advantageous to use. Every tool has its unique advantages. Initially we intended to rank these tools based on their usability but all of them are equally useful in their unique way.
The closing position tool allows traders to recover most of the money invested in an unsuccessful trade, while the double the investment feature allows traders to generate even larger profits on trades that they think can be won with 100% certitude.
However, these tools should only be used responsively and when traders are 100% sure about the outcome of a contract. The doubling the investment feature offers the most opportunities to win more money but it also poses the most risks. In case traders’ prediction will actually turn out to be false, then they’ll lose two times as much money as initially intended. But if we really want to make a toplist of the most useful features in binary options then perhaps the options builder feature will rank the highest. This feature offers a great flexibility to traders, allowing them to create their own expiration times, payout rates and investment amounts.
If you want to become a winning binary options trader then don’t be afraid to use these features in case your broker offers them. Just make sure to use them only when you’re sure about what happens next regarding your option and the movement of the underlying asset.
If you want to learn more about binary options trading and want to become a successful binary trader who is able to generate consistent profits then read our additional educational and strategy articles. Becoming a winning trader is a choice. – This choice begins by learning the basics that are described in our additional articles.