What is binary options trading?
In simple words, binary options are buy (call) or sell (put) a trading asset in the future at a predetermined fixed cost.
Still difficult? Now let’s look at an example that will explain everything.
At any time, you can open an option at the current price of the asset (1) to buy or sell (4), having previously selected its expiration time (2) and the size of the investment (3). If after the selected expiration time (2) your forecast turns out to be correct, you will receive a profit (5).
In the example, the asset was purchased at 0.72915, after the expiration date its price became 0.72937, i.e. the forecast turned out to be correct. As a result, you will receive a net profit of 90%.
Otherwise, if the forecast turns out to be wrong, you lose your investment.
This type of option is also call all or nothing. In fact, this is what the best trading platforms and brokers provide.
This should be enough to understand what binary options are, or in other words, their meaning. Now let’s clarify where the “market” for buying / selling options is. So, it’s time to tell you about trading platforms and brokers.
Where can you trade binary options?
And now, to the most interesting part – where to trade binary options? Where is this “market”?
For this purpose there are hundreds of platforms and brokers that provide this opportunity.
They differ from each other in many ways – from reliability and honesty to trading conditions. You should also give preference to trading platforms of their own production, and not taken from a ready-made template.
Here is a list of the main criteria by which they differ:
- Reliability and honesty, regulation – when looking for where to trade binary options, it is difficult to stumble upon scammers. Generally, such platforms do not work for a long time and no one mentions them (except in advertising).
- Assumes no delays, problems or glitches.
- Average and maximum profitability is how much you get in case of a successful trade.
- Providing a free demo account.
- Minimum trade and deposit.
- Potential expiration time of a BO
- Deposit and withdrawal methods, fees.
- The number and types of trading assets.
- The ability to trade 24/7.
- The number of instruments for technical analysis.
- Platform versions (web, applications for pc and phones).
Of course, you will not be interested in wasting time comparing hundreds of platforms by parameters. And you don’t have to do it, because there are three best platforms from world famous brokers. They are ideal for beginners and experienced traders due to their simplicity, trading conditions and functionality.
The best trading platforms and brokers for beginners
As already noted, there are only three of them – the most reliable, honest, safe, and at the same time with the best trading conditions. Each of them is ideal for beginners. We will first present them briefly and then in comparison with each other.
IQ Option
IQ Option is the best binary options platform in many countries around the world.
Besides to high reliability and security, proven over the years, you are offered excellent trading conditions.
The platform features not only binary options for currency pairs (33), but also company shares (20), OTC assets (8), commodity (1).
9 reasons to trade with IQ Option are described in this post, and the app can be downloaded here.
To trade options from a mobile phone, you will need to log in through PWA (Progressive Web App). PWA is an application that behaves like a native mobile app but runs in a web browser.
Olymp Trade
The Olymp Trade trading platform is an excellent choice in all respects.
For beginners, Olymp Trade offers a demo account, training and bonuses and bonuses, and after a short time you will get access to the best conditions.
The platform offers fixed time trading for currency pairs (35), company stocks (13), indices (11), crypto (10), commodities (6), OTC assets (6), and ETF (5).
A full review of Olymp Trade is here, and the mobile app is here.
Binomo
Binomo is one of the best binary options trading platforms with about a million traders from 140 countries trading every day!
For beginners, Binomo also has a demo account and bonuses that can be converted into real money.
There are more than 40 assets on the platform: currency pairs, commodities, cryptocurrencies, and other OTC assets.
A full review of Binomo is here, and the mobile app is here.
Comparison of platforms by main trading conditions.
You can also see the full comparison of IQ Option vs Olymp Trade vs Binomo.
