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Popularity of Binary Options in South Africa The emergence of Binary Options trading in South Africa can be traced back to the early months ofwhere the industry emerged on the financial market. Because, Binary Options are a relatively new concept, many South African traders preferred it over other trading options. The introduction of online Binary Options by brokers further expanded its make a fortune on binary options, as more and more traders started to join after being attracted to the profitability.
The Binary Options industry has a myriad of trading instruments which enable traders to walk away with a higher degree of pay-outs. How to go about trading Binary Options? The South African Market landscape for Binary Options is definitely enticing for traders because of the simplicity and the range of options it offers. Another major factor is the convenience and accessibility, with the introduction of online Binary Options further expanded its reach.
However, to become successful, one has to understand the core concept of Binary Options.
Binary Options in South Africa
This includes a mix of certain trading terminology, a specific skill set and a vast knowledge of the Binary Options market. The following points aim to form a guide on how to trade in Binary Options for the first time. Choosing a broker: The first step involves choosing an appropriate broker who offers Binary Options trading. It is generally advised to choose more than one broker to minimise any risk that may arise later on.
Most trading platforms offer streamlined account set up procedures which do not take much time.
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A trader has to submit legitimate personal information, including proper birthdates and other financial papers. There is also an option of using a demo account before a trader gets started with the process. Of this, the High and low option is provided by almost all brokers, and is very popular in the trading community. Choosing this option involves predicting the price level of an underlying asset, whether it will be higher or lower than the current price level.
Selecting an Asset: Depending on the broker chosen, traders have a choice of selecting from stocks, commodities, Forex or indices.
Making a prediction: Once a particular asset has been chosen, a percentage figure appears corresponding to it which indicates the amount of money a trader will win if the prediction is correct. Selecting an Expiry time: The final step involves selecting an expiry time and wait for it to end.
If the prediction is correct then the trader receives the aforementioned winning percentage as a reward. There are other more complicated options to choose from.
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- No Comments All the binary options traders who are currently investing in the financial market or are aspiring to trade in binary options are mainly motivated by the earning potential presented by this trade.
How to choose the right Binary Options broker? The outcome of a trade depends heavily on the make a fortune on binary options offered by the broker chosen and so careful research must be done before making any sort of decision. Below are certain factors traders can consider when they make the final decision.
Financial Assets offered: Tradable assets offered by Binary Options brokers can differ heavily from one another. Majority of brokers offer the regular 15 minutes, 30 minutes and one hour.
Some brokers have even started introducing 24 hours trading help with options trading well as 60 seconds trading. Returns: Binary Options are generally more profitable compared to other options. But this depends greatly on the degree of pay-outs or returns that a broker offers.
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It should be noted, that a higher return should not be the only consideration, as the outcome of a trade depends on a variety of other factors.
Tools offered: Binary Options like most other forms of trading involve making decisions after careful analysis of the market. Various specialised in-depth tools are therefore required to conduct proper technical analysis. Thus the broker chosen should offer a comprehensive list of tools, such as live stocks, commodities, indices as well as currency data information.
A demo account can be a valuable resource for a novice trader, especially since the risk is minimised by using virtual money instead or real currency. Customer Support: Customer support is a necessary facet in almost all industries and Binary Options trading are no different.
BINARY OPTIONS IN SOUTH AFRICA
A good broker should have a number of options for users to contact them, including live chat, phone, Skype, call back and emailing options. They should also have a knowledgeable and responsive staff that can resolve any issue within the first time of asking. These include setting up appropriate measures such as data encryption and two factor authentications to provide the maximum security possible. Regulatory Bodies: Last but not the least, a broker should be registered and licensed by a recognised regulatory body within the region they are operating in.
Conclusion: Binary Options trading is certainly an exciting and relatively new way of earning a profit in the South African trading markets. However, traders must recognise the risks associated with options trading, and thus should be equipped with a definite skill set and technical knowledge.
They should also choose the right broker to ensure that they have a seamless trading experience.
Especially trading leveraged products such as Forex and CFDs carry a high degree of risk to your capital and can result in the loss of your entire capital. Only invest with money you can afford to lose.
Forex Trading in South Africa.