How To Become Binary Options Trader

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Binary Options Guide: The Truth About Binary Options

Trading binary options can seem deceptively simple, but leaning too far into that notion can blind people to some of the risks that often accompany this type of trading.

Before I go any further, I want to make it clear I’m not a binary options trader. I trade penny stocks and teach day trading. I’d love to see you join the Trading Challenge — it’s the result of over two decades of trading and a decade of teaching. It’s awesome.

If you’re interested in taking the binary options path, it’s critically important to understand exactly what you’re getting into and set appropriate expectations. And you should get a mentor who trades binary options. Seriously. Preparation is key.

Again, I don’t trade binaries. For the most part I think they’re scams. Can you trade them successfully? There are successful traders in every niche. But most traders lose. That’s the reality of the industry.

It doesn’t matter if you’re trading forex, penny stocks, options, big caps, or … binary options. Most traders lose and most trading teachers don’t want you to know about it. So I’m going to tell you about binary options in this post. But I don’t trade them and I don’t recommend it.

Will trading binary options enable you to buy a villa in the South of France next year? Probably not. Will they allow you to quit your full-time job and finally start on that novel you’ve always wanted to write? Don’t count on it.

Here, we’ll take a look at what binary options trading is all about and you can decide whether it’s right for you. As you read, keep in mind that binary options are getting outlawed in more and more countries. Companies are getting shut down. Or they’re based overseas in places where you can’t sue them. More on that later.

Table of Contents

What Are Binary Options?

Before we dive into specific binary options trading strategies, let’s review exactly what binary options are. According to Investopedia’s definition:

A binary option, or asset-or-nothing option, is a type of option in which the payoff is structured to be either a fixed amount of compensation if the option expires in the money, or nothing at all if the option expires out of the money. The success of a binary option is thus based on a yes or no proposition, hence “binary”. A binary option automatically exercises, meaning the option holder does not have the choice to buy or sell the underlying asset.

At the core, binary options are based on a yes or no proposition. You must decide whether you believe an underlying asset will be above or below a specific price at a specific time.

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    Free Demo Account!
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  • Binomo
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    Good choice for experienced traders!

Binary trades are ruled by expiry times. These time constraints indicate how long you have to make your predictions regarding whether you believe an underlying asset will be above or below a specific price at a specific time. Once the expiration limit occurs, your predictions determine whether you gained or lost money.

Expiration times vary from binary option to binary option. Some of these minimums are known as short expires, which means the expiration date is actually within mere minutes of the buy-in.

There are medium and long expiries, as well. For medium expiries, the deadline could be anywhere from two to five hours. Long expiries typically last between two and 24 hours. Many experts believe that longer expiration times can help make predictions easier.

What Are the Underlying Assets of Binary Options?

In order to participate in binary options trading, you must first have ownership of an asset that can be optioned for a fixed amount. The types of assets common in binary options include stocks, indices, commodities, and currencies. Many binary traders chooses to trade with stocks, as this option can allow them to get high returns within a short span of time.

Along with indices and commodities, currencies are another popular binary option vehicle. Since currencies are liquid and often subject to dynamic price fluctuation, many traders choose to analyze their binary options across the complex — and often shifting — global currency market.

A quick aside since we’re talking about forex. Be aware that the forex market is among the most difficult to trade. Why?

Because it’s the biggest and most liquid market in the world. You’re up against the smartest, richest, and often most experienced traders in the world. Personally, I don’t want to compete against that. Plus, the forex markets move so fast on news you don’t have access to, that there’s no edge whatsoever.

And now, a new asset has emerged: cryptocurrency. I don’t trade crypto, either. I’ve traded the random crypto-based stock. But this is a whole niche unto itself and I’m happy with penny stocks. Crypto has its own version of binary options — which is why I’ve included it here.

Led by Bitcoin, this new, digital currency class is intriguing investors around the world who see the digitization of finances as the way of the future.

According to Options Advice, there are two prominent ways you can capitalize on Bitcoin binary options. The first strategy is by trading on what you think the imminent fluctuation of Bitcoin might be, and the second is trading regular options with Bitcoins as your currency.

If you’re interested in taking the cryptocurrency binary options route, I strongly suggest familiarizing yourself as much as possible with the trends dictating the ebbs and flows of the altcoin market.

An entire niche financial industry has been built up around educating consumers and future investors of digital coins and tokens. From resources like Cryptoslate to ICO listing sites like Coinschedule, there are many resources available to help you make the most strategic crypto trading moves possible.

There are also a lot of scams. And strange happenings. Like when a crypto exchange CEO died with the ONLY key to $137 million in crypto. Ouch. More than 100,000 cryptocurrency holders learned a very hard lesson. Back to binary options …

What is a Call and What is a Put?

Two of the most common terms you’ll hear throughout the binary options world are call and put. These two labels represent the market positions of binary options.

You typically choose to call if it looks like the value will rise within the confines of the expiry time.

Options also have a strike price, which is the price at which the security would be bought or sold.

If you choose to call, you’re signifying your confidence that a stock will rise within the time limitations. If the stock valuation moves upward at all, you’ll receive both your initial investment as well as the return.

On the opposite end of the spectrum, a put signifies your confidence that the valuation of a stock will drop within a certain time limitation. So if you predict that a stock valuation will decline before the expiration date, and the stock does dwindle, you will have succeeded at that trade and will receive your initial investment — as well as the trade — back.

What Are Other Types of Binary Options?

Beyond call and put options, there are other distinguishing factors that separate binary options from one another.

This guide from Binary Tribune delves more specifically into binary options types based on the number of interactions a trader must initiate with the trade. The levels include one-touch, no-touch, double one-touch, double no-touch, and paired options.

Let’s take a look one-touch and no-touch options …

Essentially, a one-touch binary option indicates that in order for you to receive a payout, a trigger (or predefined barrier) must be reached. Traders often choose one-touch if they feel confident that a stock will move in a certain direction at a minimum amount.

The option only has to meet the predefined trigger level once (hence the “one-touch” term). However, as indicated by Binary Tribune, this strategy is often accompanied by some risk.

Beyond simply calling or putting, you also must feel confident that a certain valuation threshold will be crossed. However, with greater risk often comes greater reward.

In contrast, a no-touch binary option essentially depends on a trigger level not being reached.

Rather than hedging your bets that the valuation of a stock will rise above or dip below a specified amount, you’re betting that the trade will not dip above or below an amount.

Because you’re making the trade with the intention that a threshold will not be crossed in either direction, it’s referred to as “no-touch.” Like their one-touch counterparts, these trades come with greater reward — and risk — potential.

I liken one-touch and no-touch calls and puts to something like an electronic stop-loss. The problem is, you don’t have control. You’d better be damned sure you’re right. Which is impossible.

What Are the Pros and Cons of Binary Options?

Now that you understand binary options basics and the different factors between them, you might be wondering whether this type of trading aligns with your goals. Let’s weigh the pros and cons.

We’ll start with the benefits …

Low Barrier to Entry. You don’t need a masters in economics to engage in this kind of trading. For this reason, many first-timers enter the trading arena through buying and selling binary options. Comparatively, binary trading is relatively simple. When compared directly to other types of trading, including quantitative or arbitrage, trading binary options is straightforward.

Fast Returns. Many traders are eager to see fast results and liquidate within a specific time frame. Those who play the long game (investors) are typically most concerned with growing their money steadily over long periods of time. Many opt to invest in index funds, IRAs, or bonds. Trading binary options is fast paced.

Thing is … you can get all the speed you need trading penny stocks. So, while binary options might be a fast game, the reward might not be worth the risk.

High Rewards. Binary options trading is touted by those who promote it as high reward. It’s possible to receive up to a 70% return on their investments if your binary trades reach your expiration dates in the money. This high average return is what makes this type of trading vehicle attractive to many novice and expert traders.

As explained by Investopedia, the risk on binary options is capped off, so while the rewards could yield high returns, you can’t lose more than the cost of a trade.

Low Cost. If you’re just getting started with trading, there’s a good chance you don’t have excess capital lying around to snatch up shares of the fastest-rising stocks on the market. Binary trades offer an alternative to other types of investments that require high-capital buy-ins.

In theory, you can experiment with a binary trade for any amount you’d like, whether it’s $5 or $50. Starting small and working your way up to bigger trade amounts incrementally is a great way to learn the lay of the land.

As you familiarize yourself with expirations, strike prices and — if you’re interested in one- and no-touch options — triggers, it’s best to gamble with an expendable amount that won’t derail your entire financial status. Notice I used the word gamble — just sayin’.

Accessibility. Binary trading platforms make it easy to trade on any day and at any time. When it comes to binary options, traders aren’t necessarily beholden to standard market times and broker availability.

Now, let’s explore some of the disadvantages of binary trading …

Scams. Conduct any Google search on binary trades and one of the first things you’ll likely notice are the abundance of hits warning against binary scams and shady binary brokers.

Remember when I said I’d get back to the part about shady companies? Here goes …

… and I say this to protect and warn you.

Like I said, these companies are often based overseas. Places like Cyprus. (I have nothing against Cyprus. It’s a beautiful country with amazing people.) Anyway, these companies are based in places where you can’t sue them if they screw you.

Then you sign away pretty much your entire life in the forms they make you fill out. Your odds of winning are so low the brokers who do it are pretty much laughing at you. They’re laughing that so many people fall for this crap. It’s like going to the casino.

So, if you come across a binary broker that sounds too good to be true, it’s because he or she most likely is. And if you come across a binary broker who doesn’t let you liquidate your investment, run in the other direction.

Short term. Binary trades have expiration dates that are often fairly short windows of time. Given this, it’s impossible to use binary options as mechanisms for long-term investments. Which, of course, I don’t mind because I day-trade and teach day-trading. But if you’re looking for buy-and-hold investing, binary options aren’t the right solution.

Can You Really Make Money with Binary Options?

Short answer: It’s possible, but you MUST know what you’re doing. Like I keep saying. Most traders lose. Doesn’t matter the niche. I would never trade binary options. Ever. Your choice, I’m just tryin’ to keep it real.

If you’re serious about binary trading, start small. By making small trades and working your way up, you give yourself breathing room to assess market trends and develop the necessary skills.

As is the case with many types of trading, history is sometimes the best predictor of the future. Many successful binary options traders experience trading wins and financial growth because they’ve spent time studying and familiarizing themselves with market movements.

Wait. Does this sound familiar? Yep. You guessed it: you can’t cheat your way to success. Doesn’t matter the niche. I don’t trade binary options. I don’t recommend you trade them. But if you decide it’s for you then prepare yourself. Study your ass off.

Learning common candlestick patterns can make it easy to spot recurring trading patterns. If you want to understand candlestick patterns — and you do if you are serious about trading — I recommend you get a copy of the classic “Japanese Candlestick Charting Techniques” by Steve Nison. Doesn’t matter which niche you trade, this book should be on your bookshelf.

Of course, trading patterns are never 100 percent accurate, so don’t fool yourself into thinking of them as absolute stock predictions. However, the more you can learn about patterns and begin to recognize them yourself, the more likely you’ll be comfortable making your own options decisions.

Naturally, binary options contain risk. And by now you know my take. I pretty much think they’re scams. But there are differing opinions and some even consider them safe trading routes. I’m not gonna tell you not to trade them. I recommend you don’t. I’ll be interested to hear back from you. When you’re ready to trade the way I teach … apply for the Trading Challenge.

While it’s legal to trade binary options within the United States, they’re only available to trade on Commodity Futures Trading Commission (CFTC) regulated exchanges within the country.

Binary options traded outside the U.S. are structured differently to those traded here. You can learn more in this article on Investopedia: What You Need To Know About Binary Options Outside the U.S.

The Bottom Line

The good: Some traders like binary options because they are traded at fixed costs. You know where you stand.

The bad: Binary investments are too much like flipping a coin, there are too many scams, and your odds of winning are so low you might as well go to the casino.

The bottom line: Educate yourself like crazy. Avoid sketchy brokers. Start small and work your way up. Remain vigilant. Stick with these rules, and someday you might reach your trading goals. Will you do it with binary options? I doubt it. But you might prove me wrong.

Want to Try Binary Options Trading?

At this point, I hope I’ve shed enough light on binary options trading that you don’t do it. But … you might be thinking about giving binary options trading a shot. If you do, study your butt off. Get a mentor. Don’t screw around. The best of the best in every niche work with a mentor.

Trading — any type of trading — can quickly become complicated. Like any other sector of trading, it’s important to seek out an education before you attempt to invest in this way. I can’t help you trade binary options. But I can help you learn to trade penny stocks …

Is the Trading Challenge for You?

As a teacher I want to help my students forge long-term, sustainable careers as traders. The Trading Challenge can help you reach your goals through risk-averse, conservative trading.

Plus, my best students — those who have become millionaires themselves — join me in coaching you.

What do you get?

  • Wednesday morning live trading webinar. I show you live trades so you can see how it’s done. And it’s not only wins. These are true live trades. Sometimes I lose. But you’ll see how fast I cut losses and why I get out so fast when things turn against me.
  • Wednesday evening live lesson and Q&A. No matter where I am in the world. This is killer stuff.
  • Thursday live trading & review with Mark Croock. @thehonestcroock is at it every Thursday. You don’t want to miss this. Mark is one of my best students/teachers. He’s constantly in the challenge chat room alerting students.
  • Annual Penny Stocking Silver Membership. You need this. Thousands of hours of video lessons and archived webinars. Immerse yourself. This is how to get good fast.
  • PLUS: Two monthly bonus webinars by my top student Tim Grittani. It won’t take long to understand how Tim went from $1,500 to where he is now when you see how meticulous he is about his trades. Learn from a master.

WAIT! There’s more …

I always wanted to write that. Anyway, there is more, but you have to apply for the Trading Challenge to get it. Simple.

Will you be my next success story?

Conclusion

As you’ve now learned, if you study hard, start small, keep your scam radar on high alert, and stay educated, then becoming a successful trader is possible. But it’s not easy. So don’t even think about doing it if you’re not willing to work hard.

As for binary options …

Look, whatever you decide, it’s about how much time and effort you put into learning. I don’t think binary options are a good way to go. Plain and simple. But there are success stories.

If you’d rather learn what I teach, then apply for the Trading Challenge. But no lazy losers allowed. Seriously. Only join the Trading Challenge if you’re willing to work hard.

Are you a trader? Do you trade binary options? Comment below and let your fellow traders know how it works for you. Even if you are brand new, I love to hear from readers. Comment below!

7 Tricks To Be Professional At Binary Options Trading

Are you a professional at binary options trading? If not, then you are in the right place to boost up your energy.

Most of you already know what binary options are, as you are here for the top tips and tricks on trading binary options. But, for the uninitiated, we will give a short brief.

Binary Options are financial instruments that allow you to trade on all kinds of assets such as forex, stocks, futures, crypto, indices, and much more. There are only two directions in binary trading and this is where it gets its name from.

By accurately predicting the outcome, you win a payout. If you are wrong, you get nothing and lose your initial investment. The time from when you place the trade till the time the trade lasts is the expiry time.

When you think the price of the asset will increase, you buy a call option. Moreover, when you believe the price will decrease, you purchase a put option.

It is just a short introduction to binary options. Head on over to our introductory guide on binary options trading that covers all the concepts of options trading in great detail.

Can Anyone Be A Professional At Binary Options Trading?

Binary Option is simpler and far less complex compared to other forms of trading. It is easy to understand as well as beginner-friendly. But, does that mean it is easy to score profits when trading binary options?

Let’s take a look at statistics and probability.

In a study conducted by FinanceMagnates , they covered on Japanese binary trading industry. The average payout ratio was found to be at 95.69%. On an average 74.1% of traders ended up facing losses trades.

Roughly 1 in every 4 traders ends up making money trading binary options. By now you have realized even if they are simple to trade, it doesn’t mean everyone’s making off it.

  • What’s the difference then?
  • Why are some traders expert while the majority keep losing money, and blame their broker?
  • Are they missing out on some secret information?

Sorry to burst your bubble, but there is no secret mantra or formula that will make you rich overnight. There are, however, a few tricks and tips that you can apply in your trading. It will help you stay ahead of the curve.

Via this article, we will share with you the 7 best tricks to become a professional Binary Options trader. We will suggest you read till the last to find out what these tricks are.

Binary Options Trading: A definitive guide for newbie’s

Trading is a nice way of making money in a shorter period of time, learn how?

Hey Friends, the first day of this week, I am going to share a new trend of making money online which was named after so-called Trading business.

This is called Binary Options Trading, which empowers many individuals and corporates to become a millionaire in a shorter period of time.

This is not a magic but works on logic. People who have the market knowledge can easily get into this business with a little investment to start.

Make your investment in any tangible (or) intangible products, and trade upon to make profits over time.

We will discuss this method more in detail in this article. Let’s get your note and pen to take down important aspects that will be a nice decision for a perfect start.

Table of Contents

2.1.) High earning potential
2.2.) Quick outcome
2.3.) Ease of trading
2.4.) Affordability (independence of stock price levels)

7.1.) Free practice
7.2.) Minimum entry threshold
7.3.) Maximum profitability
7.4.) Quick and smooth money withdrawal
7.5.) No extra fees

8.1.) Technical settings and design
8.2.) Assets
8.3.) Types of accounts
8.4.) Depositing and withdrawal of money
8.5.) Educational opportunities
8.6.) Technical Support
8.7.) Customer Reviews

1.) What are Binary Options?

The World Wide Web of today offers plenty of opportunities for making extra income online to both employed and unemployed people.

If you are one seeking to improve your family budgets, then you’ll find it worthwhile to learn about binary options – one of the most innovative styles of trading.

This is a type of a short-time investment, that does not require buying actual stock. All you have to do is forecast the direction of a stock price fluctuation, which is possible to do via some basic analysis of the market.

As the name suggests, there are only two types of binary options to select from: Call or Put.

Some binary options brokers use the Up or Down terminology, but they mean essentially the same.

This new style of trading has attracted a huge number of traders and is getting more popular by each passing day. The reason why it is experiencing such a huge growth is that it offers an unmatched money-making potential in a very small period of time.

In binary options trading, all you have to do is to predict the price level movement of an asset. Suppose you want to trade the Apple stock with binary options trading. Let us assume that the Apple stock is currently trading at $93.5689.

You have to make a prediction if the stock price of Apple will be higher or lower than the current price level after an expiry period (The expiry period is selected by you).

Suppose you predict that the price level of Apple will be higher than its current price level after one hour. If your prediction is correct you will earn a profit of about 80%. However, if your prediction is incorrect you will lose the amount you invested.

2.1.) High earning potential:

When it comes to the money-making potential, nothing beats binary options. You can nearly double up your money by trading in the binary options market. In fact, there are some options which can even give you a profit of 500%.

2.2.) Quick outcome:

The expiry time for trading binary options is very short. It is generally in terms of hours and can be as small as 30 seconds.

It essentially means that you will get immediate results and you certainly do not have to wait for a long time to know the outcome of an investment.

2.3.) Ease of trading:

Trading binary options are very easy. Anyone with an internet connection can trade at any time during the trading hours. You can trade from anywhere in the world.

In fact, you can use the dedicated apps using which you can trade via your smartphone while traveling. Not much information is required to start trading in binary options.

However, being able to trade and being able to make profit require totally different skill levels.

2.4.) Affordability (independence of stock price levels):

The actual stock prices do not matter much in the case of binary options trading. All that matters is if your prediction regarding the price level was correct or wrong.

It essentially means that there is no difference if your prediction is correct by 0.1 points or 100 points. Both give the same result. Same is true when your prediction is incorrect as well.

All that said, one thing is important to keep in mind before you invest: all the attractive features of binary options trading come at the price of a big risk factor. A risk factor is, of course, high but so are the rewards.

3.) How binary options differ from regular trading?

Regular trading (also known as vanilla trading) and binary options trading might look similar at first for a newbie to financial markets, but in truth, they are very different from each other.

One key difference is that in vanilla trading the actual value of the price level matters. In binary options trading, all that matters is whether your prediction is correct or not.

Suppose Google is currently trading at $100. If you buy the stock in vanilla trading and after a day the stock is priced at $101, you will earn a profit of 1%.

Meanwhile in binary options trading, if you buy the Up option for Google which is trading at $100 with an expiry time of 1 day and the price level of Google is $101 after 1 day, you will earn about 75%.

In fact, it doesn’t matter how high Google ends. As long as it makes your prediction correct, you will make the same profit.

It is therefore for the same reason that you will make the same profit in binary options trading if Google would have ended at $200 or $120 or $500 after 1 day.

The risk factor in binary options trading is significantly higher than in vanilla trading.

Taking the previous example if Google had ended up at $99 after a day, a vanilla trader would have lost just 1% while a binary trader would have lost all the invested amount (considering the trader had selected the Up option).

When it comes to the expiry period, vanilla options have very long expiry periods of 6 months, a year, 5 years etc. But in binary options trading, the expiry period is generally just a few hours. It can be as small as 30 seconds.

In binary options trading, you can easily make money even if an asset is falling down. It is not possible with vanilla options.

Vanilla option traders may buy a falling stock when they feel that the asset has hit its minimum and will start to rise soon.

Binary options traders can just select the Put or Down option and if the price level of an assets ends lower than the strike price after the expiry time, a profit will be made.

Binary options traders can’t sell their bought option before the expiry period.

If a trader has bought an option with an expiry period of one hour, he or she will have to wait till the expiry period ends to get a result and it can’t be sold in between.

A vanilla trader, on the other hand, can sell the bought options anytime.

Binary Options

High money-making potential
Small expiry time
Actual value of an asset doesn’t matter
High-risk business
Profit can be made if an asset price falls

Vanilla Options

Low money-making potential
Big expiry time
Actual value of an asset matters
Low to moderate risk business
Profit can’t be made if an asset price falls

4.) What are the limits of my potential earnings?

Theoretically, a binary options trader can become a millionaire – because there is no sky to how much you can make by making correct predictions.

You can nearly double your money every few seconds. Although being correct all the time is not practically possible – one has to remember that.

Let us take a few assumptions and calculate your payout. Suppose you invest $100 in every trade and have an accuracy of 80%.

Let us also assume you execute 30 trades per day and the average payout is 80%. In this case, your pure profit is $57,600 per month.

Even if your winning rate is 70%, you will pocket a monthly income of $50,400. The best part is that you can earn this money sitting on your couch.

As per a report published in binary today, a trader makes more than $20,000 per month by trading binary options.

He follows some basic strategies with discipline and gets amazing results. There are many similar success stories on the web.

5.) Who can earn with binary options trading?

Generally, the answer to this question goes: “Anyone who is interested in making online home income, wants to try this type of financial instruments and has a good Internet connection”.

For a start, basic knowledge of the financial market and access to economic news will be enough.

Talking in a more long-term perspective, one has to be open for self-education. The more extensive learning you get, the better you can create a well-structured trading plan and not rely on sheer good luck.

Luck is part of the fun, of course, but its combination with proper skill will lead you to more steady income in the future.

In this context, when you are selecting a broker – which is the first thing you need to do – pay attention to the training and practice facilities the company provides.

6.) Olymp Trade – a trusted partner in binary options trading

If all the above has sparked your interest in binary options trading, your first step will be choosing among a variety of brokers on this growing market. How should one make such a choice?

Things which are of crucial importance:

••• Ease, convenience and transparency of the trading mechanism
••• Profitability levels offered by the broker
••• Opportunities for education and improvement of your trade skills
••• Honesty and reliability, confirmed by credentials from official bodies.

There are not many companies who stand out of the crowd by virtue of their premium trading serves, and Olymp Trade is one of them. This Seychelles registered broker was founded by Smartex International Ltd. and has operated on the market since 2020.

Olymp Trade is an “A” member of the International Financial Commission, an independent organization that provides and guarantees the protection of traders’ rights. Which means if a broker acts unlawfully, the Commission reimburses the trader up to $20,000 from its Compensation Fund.

The broker is highly recognized by the industry professionals and boasts four important awards, received over a short period of time:

••• IAIR AWARDS prize in the category “Best Binary Options Platform”
••• KROUFR Awards as the “Best Binary Options Broker”
••• ShowFX World prize as the “Fastest Growing Broker”
••• CPA Life Awards international prize as the “Best Financial Broker”

Now we shall dwell a bit more on its advantages, which matter especially for a beginner trader.

7.) What are my key benefits with Olymp Trade?

7.1.) Free practice:

Each trader is given access to a free demo account with 10,000 virtual units right after the registration. It is particularly useful for beginners who can practice as long as they wish before trading with real money.

The balance is rechargeable if it has less than 5,000 units (back to 10,000 for free), and you can always go back to the demo mode – in case you want to practice a new strategy.

7.2.) Minimum entry threshold:

Depending on the account currency, you can start trading binary options with just $350/$10/€10/20

7.3.) Maximum profitability:

With Olymp Trade it is possible to earn up to 80-90% of the investment if your forecast was correct.

7.4.) Quick and smooth money withdrawal:

As soon as you make a profit, you can apply for a transfer of money to your bank card or an e-wallet. The processing usually takes no more than a day or two.

7.5.) No extra fees:

The broker bears commission for all incoming and outgoing payments.

8.) How does Olymp Trade platform work?

The company has developed its own trading platform and continues to improve it every day. This is an essential thing because it implies almost zero chances of technical failure – so you may be positive that the platform will not freeze at the most inappropriate moment.

The product is custom-designed by the broker with input from experienced programmers, financial analysts and traders. It provides convenient tools for the market analysis, so you could make informed “up or down” decisions every time.

Available in both a desktop version and a mobile app, downloadable at Google Play.

8.1.) Technical settings and design

The platform is designed in a very user-friendly, understandable way. Once you look at it, trading on the financial market immediately becomes less dense and daunting. The design will not make you doubt whether trading can become a part of your life – you will know that it can if you wish.

One of the platform’s advantages is that traders can adapt it to their own liking:

••• Change the language: Vietnamese, Russian, English, Thai, Indonesian, Spanish (LATAM), Portuguese (Brazil), and Turkish are available;
••• Select how the chart is displayed: area (line), Japanese candlesticks, or HeikenAshi;
••• Set the color scheme to light or dark.

The technical settings are equally varied. Traders can:

••• Change chart time frames from 25 seconds to 1 month on the area chart and from 15 seconds to 60 minutes on the Japanese candlesticks and HeikenAshi;
••• Add indicators and oscillators to the chart to analyze it more accurately.

8.2.) Assets

The Olymp Trade platform is pretty versatile and allows to trade in a variety of key assets:

••• Foreign exchange market assets (currency pairs);
••• Assets of the stock market (stocks, bonds, indices, etc.);
••• Assets of the commodity market (gold, silver, oil, etc.);
••• Exchange assets of the cryptocurrency (Bitcoin is the most popular).

8.3.) Types of accounts

The platform offers 3 types of accounts: demo-account for a newbie, a standard account for everyone willing, and a VIP account with special privileges for more experienced traders. See a more detailed description in the table below:

8.4.) Depositing and withdrawal of money

Use any of the following ways to make a deposit:

••• Through E-wallets: Qiwi, Webmoney, Epayments, Neteller, Skrill, Yandex.Money, and Bitcoin;
••• Through Visa or Mastercard bank cards.

You can also withdraw money through the same payment systems.

Important: you can make a withdrawal only to the same e-wallet/card that you used to make a deposit. This rule enables the broker to guarantee payment security and protect traders’ funds from fraud.

The maximum withdrawal time is 3 business days, but the broker tries to process traders’ requests as quickly as possible. All operations are commission-free.

8.5.) Educational opportunities:

Never had a trading experience before? No worries. Olymp Trade offers a whole range of educational materials that will help improve your confidence – whether you are a complete beginner, or a trader seeking more in-depth expertise. At your disposal are:

••• Video tutorials
;••• Interactive courses;
••• Webinars
;••• Strategies developed by leading analysts.

Besides, the broker supports its customers in various social networks. Join the company Facebook page and YouTube channel to get access to all up-to-date information, extra educational content, daily analytics and articles with useful trading tips. Not to mention special contests offering bonuses and gifts for the lucky winners.

8.6.) Technical Support

Olymp Trade technical support department operates 24/7 – every day, around the clock, so be sure that your question will be answered by specialists promptly and at any time.

For English-speaking support, you can call on +357 25030996, write to [email protected] or ask your question in the online chat on Olymp Trade platform.

8.7.) Customer Reviews

You may find it useful to read some feedback from Olymp Trade customers.

Nobby Jackson describes his experience of binary options trading in this manner:

“As an amateur trader, I was overwhelmed by the number of binary options brokers. I, being an amateur trader, was looking for a broker which offered a quality way of learning how to trade and high payouts.

Olymp Trader offered both. My trading experience with Olymp Trade has been phenomenal. I am able to make a consistent profit and learn how to trade better.”

Steven Levitt, another amateur trader, puts his experience as follows:

“I love the way Olymp Trader has designed its trading platform. It is easy to use with simple navigation. The fact that you can do a lot of analysis using the website itself makes my trading very smooth.”

Bottom Line

Making an online income with binary options is a reality. And you will not have to sit long hours in front of the monitor in order to do that. Besides, it is totally affordable.

You may start with only a ten-dollar deposit, investing as little as 1 dollar in every trade before you gain more expertise and confidence.

Choosing a reliable broker is essential, and the Olymp Trade platform offers all the necessary facilities and transparency of trading.

The platform now has more than 6.5 million registered users with at least 20,000 traders actively trading each day.

You can easily join them and start utilizing the earning potential of financial markets while sitting at home.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

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How To Make Money on Binary Options Trading
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