Binary options or contracts are specific financial instruments through which trading is conducted for financial gain, i.e. profit. This contract gives the user the right to make a forecast of the price movement of the asset he is interested in, which will result in the outcome of the transaction – either the forecast will be justified and the trader will earn, or the forecast will be incorrect and the trader will lose the amount invested in the option.
When purchasing a binary contract, all terms and conditions of the transaction are clearly defined – investment amount, the underlying asset, expiry date, and profit level. This allows you to correctly calculate all the risks that are already known in advance and distribute your capital effectively, guided by the rules of management- management. Due to this specificity, the binary options market in a sense wins in terms of attractiveness compared to Forex trading and many traders prefer to work with contracts.
So how do I start trading binary options? It’s simple – your desire and a small starting amount for your work allow you to quickly enter the financial environment. But remember that binary trading is a constant work on yourself, the need to develop useful habits and expand your knowledge, to acquire new skills and to develop in financial trading, to be patient, diligent, and to be able to manage your emotions. It is a full-fledged profession and extensive work, which opens the way to financial independence and self-realization.
Which binary options exist and what are their features
The undeniable advantage of binary options is that the trader knows in advance all the risks involved in the transaction. As practice shows, it is possible to earn up to 90-95 percent on transactions with contracts. If your forecast is wrong and the market goes the other way, you will simply lose the amount of money invested in buying the option.
As of today, traders use the following types of contracts to execute transactions:
- Call/Put – an option where the trader predicts that the price of the underlying asset will rise or fall;
- One-Touch/No Touch – an option that allows the trader to predict whether or not the chart will reach a certain price level for the asset under analysis;
- In/Out – an option implying that the trader predicts that the chart will or will not hit a certain price corridor.
Trading binary options can be described as simple, fast and highly profitable. It combines such advantages:
- all risks are known in advance;
- you can start trading with minimal capital;
- high-profit level;
- a convenient and accessible option for financial trading for all categories of traders, even for beginners.
How to start binary trading with Finmax
With the example of the Finmax broker, we will look at how to start trading binary options and what actions a trader needs to take. The company offers 4 main steps to become a client and successfully conduct their financial transactions:
- register on the website;
- replenish the deposit;
- to start trading;
- to withdraw its profit.
Let’s look at each step in more detail.
Finmax broker Registration
On the main page of the website, there is a button to open an account by clicking on which you have to fill out a typical online form.
You fill in all the fields, giving your real name, a valid phone number and e-mail address, and also come up with a secure password to log in to your account. Choose your account type – Real and click on ‘Sign Up’.
This procedure takes minutes and you get access to your personal account.
The Broker strives to create the most comfortable conditions for all clients, so you can top up your account in any convenient way:
- with a bank card (any Visa or MasterCard);
- to be transferred via bank transfer;
- use a payment system (Yandex, Webmani);
- transfer funds from your electronic wallet (PerfectMani, Kiwi, Webmani).
In most cases, the money is credited instantly, but in the case of a bank transfer, you have to wait several days.
Trading terms and conditions Finmax
The Company aims to improve its service and make all conditions as loyal and beneficial as possible for a wide range of customers:
- the minimum deposit is $250;
- 5 types of trading accounts;
- free demo account;
- instant crediting of funds without deposit fee;
- the rate for transactions starts from 5 dollars;
- over 70 different trading assets with high liquidity;
- bonus to all customers for the first deposit;
- an author’s trading platform with a mobile version and a high degree of protection;
- an extensive training base with free access for customers;
- masterclasses and webinars are regularly held;
- prompt and competent technical support.
Withdrawal of funds from the deposit
You can use the same methods available for depositing in your account to withdraw your earned profit. The Company will credit the funds within 48 hours from the date of the client’s request.
An obligatory condition for withdrawal – the trader must verify his trading account, i.e. provide scanned copies of his passport and other required documents proving his identity and place of residence. This is necessary for the safety and security of client funds in order to counteract fraud.
Trading binary options is a serious and responsible job that can become your new profession and expand the range of opportunities in your life. Compared to forex trading, trading contracts is easier as there is no need to go into fundamental and technical analysis and the profitability of a single trade is many times greater than that of currency trading.
Finding a good broker is an important step to make your trading comfortable, competent and efficient. With Finmax you don’t have to worry or be afraid, because the company is developing, introducing innovations and improving the quality of its services, and offers loyal trading conditions so that every trader can unlock their investment potential and earn steadily.