What is a Binary Option and How Do You Make Money?
A binary option is a fast and extremely simple financial product
which allows investors to bet on whether the price of an asset will go
up or down in the future, for example the stock price of Google, the
USD/GBP exchange rate, or the price of gold. The time span can be as
little as 60 seconds, making it possible to trade hundreds of times per
day.
Before you place a trade you know exactly how much you stand to gain
if your prediction is correct, usually 70-95% – if you bet $100 you will
receive $170 – $195 on a successful trade. This makes risk management
and trading decisions much more simple. The outcome is always a Yes or
No answer – you either win it all or you lose it all – hence it being a “
binary” option.
To get started trading you first need a broker account. Pick one from the
recommended brokers list,
where only brokers that have shown themselves to be trustworthy are
included. The top broker has been selected as the best choice for most
traders.
If you are completely new to binary options you can open a “demo
account” with most brokers, to try out their platform and see what it’s
like to trade before you deposit real money.
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