For those South Africans which have only heard bits and pieces about this online trading investment, a question “Should I trade binary options?” is natural and even necessary.
Even more so if traders have little to no information about binary options trading and what it involves.
That is the reason we have decided to present them with an answer to that question.
Below, we shall list potential benefits of binary options and why the answer to the question “Should I trade binary options? just might be – yes!
First of all, interested South African traders should know that binary options trading rests on a simple fact – the price of the underlying asset can either go up or fall down.
This brand-new way of online investment has appeared on the market in 2008 and has since attracted millions of people around the world. In fact, it became very popular on the South African market.
In part, the popularity of binary options trading is not simply down to its simplicity, but perhaps even more so because of its suitability for people who have no previous knowledge or experience in trading.
However, that alone would not be enough to elicit a positive answer to the question “Should I trade binary options?”.
Rather, it is the fact that despite the fact that majority of those who are thinking about trading binaries have all the necessary info readily available.
There are broker review sites like TradingBinaryOptions.co.za which do not just offer detailed reviews on brokers but also supply eager South African traders with plenty of helpful information.
From the guide to strategy articles to numerous tips which can be used to improve traders’ skills, it is easy to find all necessary data online and benefit from it.
Potential for Healthy Profits
Another “yes” for the “Should I trade binary options” can also be given in terms of the potential for profits.
And, let us be honest, it is another advantage and attraction of binary options trading.
With most brokers, the potential for monetary gain moves between 65-85%, on occasion that might even go higher.
Naturally, there are risks and going into binary options trading without being aware of the fact is not realistic.
Yet, with the prospect of achieving such high returns, numerous traders around the world find this to be a worthwhile trading venture. Even more so when it is compared to other forms of trading, like Forex, where potential gain goes up to 10%.
With a fantastic selection of expiry times, underlying assets, trade options as well as trading tools and features those high returns stand a fair chance of happening.
Predetermined Money Gain and Loss
Knowing the risk exposure is another handy thing when it comes to binary options trading.
It is much easier going into an investment when interested South Africans know exactly how much they stand tow (or lose) with each trade.
With binary options trading, the estimate of the price movement in a specific period of time for a selected underlying asset via specific trade option has a set end result.
This is also a huge benefit when it comes to planning as traders have all the necessary information before the trade starts.
In having this data, traders may calculate the potential winnings as well as the risk.
Also, they can constantly monitor their trading process.
A Selection of Assets and Trade Options
Just a brief inspection of underlying assets, expiry times and trade options can provide interested South African traders with another yes to their question of “Should I trade binary options?”
Binary options brokers can offer over 200 different underlying assets which are generally sorted into four categories – stock, currencies, indices and commodities.
This amazing choice, though much smaller, is also mirrored in the expiry times which may be as short as 30 or 60 seconds and can stretch up to 150 days for long term expiry times.
Then, South Africans will also find they have a variety of trade options to choose from too. Among those which are most popular are High/Low, 60 Seconds, Range Options, Touch Options, Pairs, Boundary Options and Ladder Options.
There are even some new additions offered by a limited number of binary brokers such as Turbo Options.
What this wide choice provides for traders is the chance to find the manner of trading binary options which will suit traders as much as possible and increase the probability of a successful trade.
Large Number of Binary Brokers
Though it can be seen as both an advantage as well as a shortcoming, having plenty of binary options brokers to choose from is more a benefit.
While it might a bit time-consuming to find the one which will feel as just the right fit with over 300 brokers on the market today, it does mean that traders don’t have to settle.
By that, we imply that it might take a bit of time at the beginning, but with such a healthy selection, it will eventually be much easier to select a broker which ticks if not all than most of the boxes.
Moreover, with broker review sites which provide objective reviews and the abundance of information about the on the Internet, it is rather easy to simply sit down and dedicate some time to search for a binary broker.
After all, with so many available, chances are South Africans can find the one (or more) which will satisfy most of the requirements they have.
Fantastic Binary Trading Features
Lastly, another affirmative response to the “Should I trade binary options?” query is delivered via fantastic trading features, such as on BDSwiss trading platform.
Especially in the terms of the demo account and mobile trading apps.
The demo account in the binary options trading is an incredibly useful feature as it provides trades with a risk-free trading environment.
The demo account, which is either an approximation of the real trading account or its precise copy (this varies from broker to broker) is equipped with virtual funds and not real ones.
That means South African traders get to practice their trading skills but without the additional worry of whether their trade will be successful.
They can solely aim their attention at practising and learning. In most cases the demo account is free but not all binary brokers provide this feature. So, to select a binary broker which does is a good tip.
A further benefit of trading binary options is the great and handy opportunity to do so via mobile trading apps. Most people today, both in South Africa and around the world, live busy lives and have numerous tasks to do in a span of one day.
So, to have a mobile trading app is extremely useful as that provides the chance to trade binaries on the go and simultaneously do all other chores necessary for that day while potentially earning money.