It’s easy to start trading binary options. You can follow these simple seven steps and start trading binary options within a matter of minutes, or feel free to contact our customer support.
1. Create Your Binary Option Trading Account – Complex arrangements between exchanges and brokerages are no longer necessary for trading binary options. Instead, you can start trading binary options in as little as five minutes by simply registering for an account and entering your basic information into BinaTrades’s secure trading system. You can start trading with a real account or use the demo account to get your feet wet.
Register for your free BinaTrades trading account today.
2. Choose Your Market and Underlying Asset – Once you’ve registered for your account, pick a market to trade in. BinaTrades enables traders to buy options on several markets including stocks, commodities, currency pairs and indices. It is best to choose assets in markets that you are familiar with. For example, if you are a Forex trader, you can trade binary options on currency pairs from around the world. Or if you’re more familiar with commodities, you can trade oil, gold and silver on the commodities market.
3. Choose Your Time of Expiration – After you’ve chosen your underlying asset, you must determine how long you would like your option to last. The time of expiration for binary options can be as long as one month or as short as one minute. Typically binary option contracts are no shorter than one hour, however BinaTrades allows traders to buy options up to five minutes before the time of expiration, unless trading turbo which allows clients to trade even shorter for a 60 second time period.
4. Conduct Your Final Analysis – Once you’ve determined the basic parameters of your trade (the asset and the time of expiration), you will need to predict, or forecast, the direction that the price of the underlying asset will move by the time of expiration. Traders typically conduct technical and fundamental analysis before predicting the direction that the asset will move. If you want to learn how to conduct a basic analysis before making your first trade, you can read about how to conduct basic technical and fundamental analysis in our BinaTrades E-Book.
5. Buy Your Option – Next you will need to choose which option you’re going to trade on. There are four different types of binary options to choose from, digital, range, touch and turbo. All options have fixed returns between 75 – 85% if traders are in-the-money.
6. Set An Amount – Now that you’ve set up your trade, all you need to do is determine how much money to invest. You can start trading binary options with as little as $10 or as much as $5,000 on any one option. However, the most successful binary option traders purchase multiple options which they trade simultaneously. Once you’ve registered, you can easily make a deposit into your secure trading account using several convenient payment methods.
7. Wait for the Option To Expire and Collect Your Return – Now all you have to do is wait for the option to expire. You can keep track of how your option are performing in their online accounts under “My Trades”. If your trade ends up in-the-money you will receive a return of 75% – 85% on top of your initial investment.