Comprehensive guide for binary options beginners

Written by Bruce Hughes on . Posted in Internet

For most people, binary options represent one of the easiest methods of making money. Everything looks simple at first: all you have to do is choose one out of two trading alternatives. However, if you actually start trading, you will see that there are certain things still unknown to beginners and this may seem intimidating. Rest assured, because the problem is not as serious as it looks and it can be solved immediately. All you have to do is use the educational resources your broker provides you with and read specialized guides created by experts. After this, you will come back to your initial opinion: binary options are simple and lucrative.

Choosing a broker

Probably the most important milestone in the experience of any trader is choosing the broker. You will hear how a platform can make or break your experience, and this is completely true, which is why you need to pay a lot of attention when picking one. Given the huge popularity this practice has known in the past years, the market has been invaded not only by reliable brokers, but also by scams. As a beginner, it may be easy to mistake these two alternatives. For this reason, try to stick to the solutions provided by specialized web sites. There are many tops of the most reputable brokers on the market, so make sure you choose a name you find there. Banc de Binary Erfahrungen, for instance, is definitely a good solution, since the company has never received any negative feedback from its clients. This means it cannot be suspected of being a scam, so it represents a safe partner in your binary options trading journey.

How do you trade?

Although you have some experience in forex trading, for example, you will soon discover that with binary options things are different. Of course, the two are somehow similar (they both have an expiration date, a trading asset and prices which vary), but they are have their differences too. Binary options are more complex, in the respect that you can choose the asset you are going to trade, from a multitude of possibilities: commodities, real estate, currencies, stocks and so on. The premium price is set by the trader, and the final price is established according to the market tendencies. In addition to this, the expiry rates are much shorter and vary depending on your preferences. While traditional options have an expiry date which can last at least one week, in binary options you can choose duration of 60 seconds, 1 day or several days, up to one week. This means that you do not have to wait long periods of time to find whether you have won or not and you can also trade multiple times, even during one hour. Needless to say each alternative has its benefits and drawbacks, so inform yourself before choosing. In case you think all this information is too much for you, you can just get an automated trading robot and it will do all the work on your behalf.