Binary options are futures contracts between a broker and a trader. According to this contract, the trader receives a profit if he can determine the direction of the chosen asset, and the broker receives a certain percentage for the transaction. The minimum deposit is only $10.
Guide with step by step algorithm that will help you understand the binary app trading process:
First, you must choose a broker to make transactions with and an asset to operate with.
Then you have to choose when you open your position. After that time, the transaction will be closed, giving you a profit or loss.
Next, you must choose the amount you will invest in buying the option. It will be automatically deducted from your trading account. If you correctly determine the direction of the price movement, this amount will be returned to your account, and the profit earned.
Show on the chart the direction of its movement soon and buy binary options. Once this transaction is complete, your transaction will be open. You have to look at the changes in the chart and wait for the results.
You will see the results of your trade after the binary options expiry time arrives. If you choose the correct direction of price movement, you will make a profit. Otherwise, you will lose the amount invested in opening a position.
Recommendations for opening transactions
You need to follow the trend and its direction and open trades only according to its direction.
Trend reversals can occur at times of high market volatility. That is why it is advisable not to open trades 2 hours before and after major economic events and news releases.
You can see the time of all events in the economic calendar.
Follow the risk management rules, so the investment per transaction does not exceed 2 of your total balance. For example, if you have $2,000 in your account, you should invest no more than $40. Disproportionate investments can lead to losses. Use the IQ Option demo account (binary options broker) to learn without risk and investment.
Two-way binary options
Go on. The trader makes a profit if the option price is higher than the initial price when closing the contract.
Short. The trader makes a profit if the option price is lower than the initial price at the contract closing time. At first, everything seemed easy. You need to know the exact movement of the asset when making a transaction, and the profit will be in your pocket. However, that is only the beginning. To succeed in this business and get a stable source of income, you need prior knowledge and experience.
Remember that iq option is a regulated broker, so you will have no problems depositing and withdrawing money. It is always advisable to operate through a regulated broker as they must always respond to users if there is a possibility outside the normal development of the market.
In other words, a regulated broker will not be able to disappear from one day to the next without responding to its users for the money deposited there.
It never ensures that the user will benefit when operating through this type of broker, as this will only depend on successful decision-making and investment strategy.
The IQ Option trading platform caters to the needs of both novice and more experienced traders. The main reason is that it has many technical chart features but still offers basic instruments for easy trading.
If you are logging in for the first time, you will notice that on the IQ Option platform, you have a prominent feature bar on the screen, allowing you to navigate through the various features instinctively.
IQ Option platform features:
A bar where you can access open orders, history, market news, video lessons, customer support, competitions or tournaments, and national and international trader rankings
Excellent live charts, with binary options prices of instruments easily selected from the options box located slightly higher on the same chart.
You can also configure a live multi-graph display, which includes up to 9 charts on the same display.
The technical instrument bar, located at the bottom of the screen, below the live chat
A function bar that, as we said, lets you instinctively set the expiration (from 30 seconds), the number (from $1), and the direction of the selected option (up or down)