When looking for information about the benefits of binary options online trading such as 7option, traders usually come across reviews of FOREX, which was one of the most popular markets with a volume of $ 6 trillion at the beginning of the 21st century. Foreign Exchange is just another trading platform that allows you to trade stocks and currency pairs. However, it has several disadvantages compared to binary options.
A FOREX trader buys an asset and takes responsibilities regarding future operations, and in binary options, each Platform user buys a contract with a price difference and a clearly specified expiration time. This is not a classic Stock Trading that leaves you with stocks or currencies on hand. You only buy a contract.
You have decided to enter a trade on the EUR / USD pair at a price of 1.1080. Once the price has reached 1.1090, you decide to lock in your profit at 10 pips. If a trader enters a trade with leverage, the total income will be significantly higher than 10 pips.
Modern binary options are much simpler. When buying a contract, the trader immediately sees how much he can earn when the price moves in the predicted direction. Plus, you don’t need to keep track of everything that happens in the market.
You don’t need to keep track of the number of pips and try to take your profit from the trade. In addition, after registering a binary account, you can immediately count on a yield of up to 80%, which does not depend on the number of pips, but on the growth or fall factor itself! This is a huge advantage of options trading.
Why is it worth forgetting about classic Stock Trading?
Because there are no spreads, requotes, or commissions at 7option. The classic spread is the difference between Ask and Bid, which can be either fixed or floating. Due to the very existence of the spread, it is impossible to open the most profitable transaction after the release of important statistical information.
Commissions are another disadvantage of all classic markets. Each operation is subject to% for the ability to use the tool. The transfer of the transaction to the next day (swap) is also subject to a commission.
A requote is another negative moment when a transaction can be opened at the price set by the broker and not at the market value. Now you know what is binary options trading in forex.
How to binary options trading?
You need to choose proven binary trading strategies and start trading. This Website offers the necessary functionality to make money regardless of location, both in Uzbekistan and in the USA. Those wishing to experiment and learn can download the Demo version. This will allow you to study without the risk of losing real money. After, you will understand that binary options can bring real income. The mobile version is even more convenient than the WEB version.
How to get binary options signals?
Looking for the right trade entry points so you don’t have to study charts and economic statistics on your own? There are several options, including specialized services, forums, and chat rooms for traders, as well as financial analysts who often charge for the information provided. The so-called signals for trading are an effective option popular among traders. In addition, using the signals of professionals, you can be sure that they include all the rules of risk management. After all, experienced specialists never go all-in and clearly divide their balance into a certain number of transactions.