When it comes to investing in binary options, they are all the rage lately. Because they are so easy to invest in, and very plain to understand, since they only offer you two choices to invest in an underlying asset, going up or going down. And then there are the very quick expiration dates, such as 60 seconds or 15 minutes, or even 1 hour. And on top of that, before you hit that send button, you will know exactly what you stand to gain (Up to 83% profits) or lose if you are right or if you are wrong. If you are right about an asset, whether it went up or down in value, then you will know beforehand just how much of a percentage you will gain (Again, up to 83% of your original investment). And if you are wrong when you placed a "Call or Put", then you know upfront that your speculation will not cost you any more than only the monies you put in. And finally, depending on the country you live in, you may not have to pay taxes on your gains, or report your losses, and even if you have to report them, then you can deduct all kinds of expenses. So saying all this, you can see why investing in binary options are all the new rage of the investment world, and contrary to what many uneducated experts may tell you, they are not simply gambling. Because when you play roulette, you are just guessing blindly and hoping for pure luck. But when you are trading binary options, you have to look at charts, you have to know the trend of the market, you have to watch the financial news along with the world leaders to know what new policies they are establishing, that will force markets to go up or completely upside down. So as you can see, if you go blindly in by luck, you will lose everything soon after winning with beginner's luck.
Also, investing in binary options you have the potential to start with a small account of $500.00, and then within a month end up with $50,000.00. Because these trades are very short and only last for 60 seconds or for 15 minutes usually, and you can trade 10, 20, 30 underlying assets per each 15 minutes period. And then keep repeating that process 2-4 times per hour every hour. So do the math, and see that after you do your homework, of if you have great technical software or trend charts, then you can just sit on the beach with your laptop and a great Internet connection and just keep on making huge sums of monies. Especially when you start to have $100,000 in your account and each trade you make can now bring in a boat load of new money if you are right and are "In the money".
So with all that said about binary options, and just like with anything else in your life that you are jumping into, you must read, learn and know about the fine prints beforehand, because they will be the ones that cause you to lose everything (Including your gains), not the actual investments. And you know this when you try to put in a claim with your insurance companies for your home and your car, or when you are trying to get a divorce, or when you are suing a large corporation. And so trading with binary options are no different beloved, and so I share with you today the most common things to know from the brokerage houses that offer binary options as part of their platform:
1. Do I have to install any software in order to trade?
You should not need to install any software in order to trade on platforms.
2. What assets are available to trade on the platform?
They should have a full list of available assets in their Asset Index for you to check out, because you want to have a wide variety of assets to invest in.
3. Do you offer demo accounts?
While they may not offer demo accounts, however I recommend that you contact them and one of their knowledgeable account managers should be able to help you to set up an account and learn to trade.
4. How often is the popularity index updated?
Their popularity index should be updated at least every 72 hours. So you could get an idea of what the markets have been doing.
5. How do I open an account?
You should be able to open an account in just two easy steps. First, enter your details, then click on “Open an Account.” If you encounter any problems while opening an account, you should be able to contact their support team.
6. What is the cost to open an account?
There should be no cost to register for an account. Once you register and deposit funds into your account you must be able to begin trading.
7. Do I have to pay taxes on my payouts?
All traders are responsible for all tax liabilities in their area of residence. I recommend that you look into the tax laws in your jurisdiction or country.
8. How secure is the brokerage house software?
They should use the internationally accepted security system SSL (Secure Socket Layer) that encrypts all credit card payments over the Internet. SSL is the encryption system used by large corporations such as Bank of America, Apple, Amazon, and many others.
9. Do I have to send in any documentation to open an account?
You should not be required to send in any documentation when you register for an account. However once you deposit funds into your account you should contact their support team and ask if you need to validate your account for withdrawals. Because you already know that everybody want to take your money, but when it's time to pay you, they want all kinds of checks and balances.
10. What is the smallest account offered?
The smallest account that they should offer should be their Micro/Test Account for which the minimum deposit should be around $250.
11. Are there any fees to withdraw money from my account?
All credit card withdrawals should be free, however they may have a minimum withdrawal amount of $100 of your currency for all withdrawals. And all wire withdrawals may have a fee of 30 of whichever currency your account is in.
12. What currency can I trade with?
You should be able to deposit funds into your account in USD, GBP or EUR. As those are the main universal currencies used around the world. Once you deposit funds into your account, however, you may not be able to change your currency.
13. How long does it take to withdraw funds from my account?
Once a withdrawal request has been submitted it may take up to 3 business days for them to process your withdrawal.
14. How often can I withdraw my funds?
You should be able to withdraw your funds as often as you like. After all, that is your money that you used your brain and higher instincts to make.
15. What methods can I use to deposit funds into my account?
They should accept credit/debit cards and wire transfers. As they are great ways to keep tabs on and have receipts for your money that you are putting in their account.
16. Is there a minimum withdrawal amount?
They may have a minimum withdrawal amount of 100 in your selected currency, unless, less than this amount remains in your account and you are trying to close it. In this case, you may make a final withdrawal of the remainder of your funds. Happy prosperous Binary Options trading, I wish you my friend. James Dazouloute, Certified Business Coach.
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