One of the major reasons of increasing interest of South Africans for binary options trading is because of its simplicity and ability to provide a platform, which is suitable for novice traders same as for professionals.
We find this binary options guide for beginner traders to become a helpful tool for all new and inexperienced traders who want to find a best way to invest in binary options with minimum risk and yet achieve profitable trades.
So if traders consider themselves as a beginners, they can continue reading our binary guide and get useful tips on what to pay attention and how to expand their trading knowledge when trading binary options on South African market.
Trading in South Africa – What are Binary Options?
Binary options can be described as type of digital options with fixed returns, based on accurate prediction of price movement of an asset in predetermined time frame. It means traders need to figure out will an asset price rise or fall in comparison with target price. There are different expiry time in which trade is possible, such as: 60 seconds, 2 min, 5 min, 15 min, 30 min, 1 hr and long term such as 7 days, 30 days and even 3 months.
To trade binary options, South African traders are able to invest in a variety of tradable underlying assets, such as stocks, commodities, currency pairs and indices. Depending on a particular binary broker, traders can choose an asset to trade with. A full list of available assets can be found under Asset Index on most of the trading brokers’ platforms.
So how does binary options trading actually works? Although this industry is adjust to novice traders, it doesn’t mean how they don’t have to expand their financial knowledge and place trades only based on luck factor. With binary options, having a trading plan is a desirable step which will provide traders with a clear vision of how to perform trades and in which assets to invest in.
Binary options trading does include a substantial risk, which can be minimized if traders are aware of it and wisely make any trading moves, same as they should avoid scam and pick only reputable binary options broker. Once traders choose a broker, they need to register and make a deposit. Afterwards, they can choose an asset, set a preferred trade option and wait to see how will the market react.
When novice traders are faced with their first binary trading experience, it might be little bit overwhelming for them. That is why we believe that having a trading plan is an important segment which should keep the traders calm and ready to invest in binaries.
Global market can react differently on various asset; it can be due to political situation or perhaps a natural disaster. This also shows how traders in South Africa should be informed and updated to know current market trends and accordingly place trades in those assets that aren’t a subject of current major changes.
Benefits of Binary Options Trading in South Africa
This binary options guide for beginner traders will reveal how this online trading industry is suitable for experts as well as novice traders. With binary options, beginners are able to participate on global financial market and invest in numerous assets, even if they aren’t so experienced.
Many binary brokers offer user-friendly platforms where South Africans can find a selection of education guidelines and tools which could assist them into learning more about trading binary options.
Also, traders shouldn’t neglect high return rate which can go up to 92% with several brokers in terms of successful trades. Of course, to achieve that, traders need to wisely choose a broker as well as available features and trading instruments.
Demo account is considered as a powerful trading tool in binary industry since it enables traders to practice at no risk involved. Traders in South Africa, regardless of their trading knowledge are able to test the chosen platform, see what features and trade options are available and place a trade without thinking about possible money loss.
Traders might wonder how is that even possible, but that is the greatest advantage of binary options demo account.
On demo, traders don’t place trades with their own money, but instead, broker provides them with virtual funds. It all depends on a particular broker if demo account is valid for limited or unlimited period of time or what is the exact available amount of money to be used on demo account.
For example, with IQ Option broker, traders get $10 000 of virtual funds to practice and test different strategies. Only required element is to register on the platform and contact customer support agent who will provide more details on how to use a demo account.
The First Step of Binary Options Guide – Find a Good Broker
What every traders should keep in mind is to have a successful binary trading journey, by eliminating scam which unfortunately is present in binary options industry. To detect scam brokers and avoid them, South Africans can check our guide on binary options scam and find more detailed information.
On TradingBinaryOptions.co.za, we have compiled a list of binary brokers, who are tested and reviewed by us. Therefore, traders can simply go through these reviews and see does a specific broker fit to their trading plan. Some of the brokers are popular binary brands, such as 24option, IQ Option, AnyOption who are present for years now and seem as legit binary options brokers.
Binary Automated Software – Yes or No?
In the very beginning of binary industry, no one could imagine how much will it expand on the market or what new opportunities will be available for South Africans interested in binary options. One of the binary novelties in the last few years is a binary options auto trading software.
These trading systems work in a way they invest in binary options based on preferences, selected by a trader. This way, trading process is done by the trading system who trades on behalf the registered traders.
On South African market, there are couple of binary software who seem serious in its operation and provide traders with a simple way to trade binary options. Traders can choose if they want to initiate with a reputable and reviewed Binary Options Robot or perhaps a Fintech Limited software.
To trade on these software, traders have to register and make a deposit with connected broker. Afterwards, they need to adjust settings, by choosing those tools which they want to be activated. Once completed, trading system will acknowledge these settings and place trades in chosen underlying assets.
Binary software is based on sophisticated algorithm which monitor current market movements and follow its situation as well as how is the market reacting on a specific underlying assets.
For example, Binary Options Robot checks the market situation and its algorithm create signals which are delivered to the Robot to place a trade. By activating Auto Trade Approval button, traders have full portfolio control and can choose themselves whether to accept or decline a received trading signal.
Binary trading software seems as an excellent alternative for novice traders who don’t want to hassle with learning how to trade binaries or spending time to follow current market trends. Entire process is done online and with the mentioned systems, South Africans get option to use a free binary options software, with no hidden fees.