Firsts Steps in Binary Options Trading
Below these lines we’ll describe you the first steps that you will have to complete in order to be ready to trade on financial assets online. We are sometimes very surprised by the number of people who still don’t know how to properly trade binary options. This is why we created this guide.
Registering at a broker
Before you can trade you will obviously have to register at a financial trading service provider. You should obviously only register at legal binary options brokers. Naturally, it’s also very important to choose a broker that offers high quality services and features.
In order to register, you will have to enter your personal details such as email address, real life address, name and similar. It’s very important that you submit your accurate personal details because brokers might be obliged by the law to decline clients that use fraudulent data.
Making a first deposit
After the registration process is done, you will have to make a real money deposit. You can make a deposit at binary options brokers using a large number of payment processors such as Moneybookers, credit cards, wire transfer and more.
It’s perfectly safe and secure to deposit money at binary brokers because most brokers are regulated by the law. You only have to avoid illegal online trading brokers that even though are small in numbers still exist on the internet.
Choosing an asset
After your account is funded, you will have to choose an asset you wish to trade on. In financial betting you will have the possibility to trade on various assets such as stocks, commodities, indices and forex currency pairs.
It does matter a lot what kind of assets you choose. The future movement of some assets can be predicted much easier than the movement of some other assets. For example, the movement of commodities can be predicted much easier than the movement of forex pairs.
Check out our full online investing assets guide in order to find out what are the most profitable assets.
Choosing an expiration time
After you have selected your asset, you will have to decide when your options contract will expire. If your prediction will come true by the time of the option’s expiration, you will win. It matters a lot what kind of expiration time you choose.
For example, very short expiration times might be a bit riskier than longer expiration times because it’s harder to predict the movement of certain assets during shorter time frames. However, this also depends what kind of asset you choose.
Certain assets can be predicted with great accuracy even when you choose short expiration times. Refer to our complete guide on binary option expiration times in order to learn more about what expiries to choose in combination with different assets.
Choosing a payout rate
The payout rates offered by a binary options broker will determine the profits that you will be able to generate. The higher a payout rate is, the more money you will win on successful trades and predictions.
In online trading, payout rates are always displayed in percentage formats. For example, a payout rate of 90% and an investment of $100 will reward a trader with a sum of $190 on a successful trading contract and prediction.
Finalizing your purchase
After all the above is completed, you will have to decide how much money you want to invest in a trading contract. After this is established, you will have to decide in which direction the value of the underlying asset will move.
The value of an asset will always move either up or down. In order to finalize your contract, you will most commonly have to press the arrow up or the arrow down button related to your option that will establish your prediction.
If by the time of the contract’s expiration time your prediction will come true, then you will receive your initial investment back plus your profits. Your profits will be calculated by multiplying the initial investment with the payout percentage promised.
If you have read all the above, then by now you know how to trade financial assets online. However, this isn’t always enough to generate consistent winnings all the time. But the good news is that we have all the necessary guides and strategy articles that will help you become a winner in financial betting.
If you read our educational and strategy articles then you will learn about the following things:
– How to choose the most profitable assets
– How to determine the best expiration times
– How to determine the best paying option types
– When is the most opportune moment to purchase a contract
– How much money you should invest in binary options
– How to use advanced winning strategies
This and much more you will find in our detailed binary options winning strategy guides. Check them out today in order to be able to generate long term and consistent profits using binary options.
Becoming a winner is all up to you. It has nothing to do with luck and chance. And to be honest, it’s actually very simple as well. Convince yourself by reading our detailed articles.