How to Start with Online Trading?
Plenty of you have heard about online trading and the possible advantages of using online trading to increase your income. And, chances are, you are wondering how to get into online trading and make a successful journey out of it.
This is a modern, fast-paced world and online trading fits perfectly with the lifestyle of the 21st century. This article will, therefore, explore how to get into online trading and provide some useful advice on the matter to further assist with the trading process.
Table of contents
While for some, more traditionally-inclined people this might be off-putting, there are millions around the globe who have tapped into into the enormous earning potential online trading holds.
1. Bitcoin Trading
Bitcoin Trading vs Bitcoin Investing – The Difference
Bitcoin Trading is different than Bitcoin Investing and we hope that you will understand more about this subject after reading our article.
If you invest in Bitcoin, in most cases it means that you are buying Bitcoin with the idea to keep it for the long term. You probably believe that the price will continuously rise even thou there will be some ups and downs during that time.
Reasons why people get into Bitcoin are different. Some of you are in it just to make profits, some believe in the cryptocurrencies, team behind it or you just heard about the guy that made a lot of money with Bitcoin.
Bitcoin Trading is a term that is used for buying and selling Bitcoin in short term. This action is usually made whenever you think a profit can be made. Traders see Bitcoin as a trading instrument, while investors see Bitcoin as something that they can store for long term value, something like “digital gold”
Bitcoin’s Rise in Popularity
Since Bitcoin was the first digital currency, it is still most popular cryptocurrency in the world.
Bitcoin was created in 2008. By Satoshi Nakamoto but it didn’t rise in popularity until few years ago. Big reason for Bitcoin’s rise in popularity is the fact that crypto market is very volatile, which means that price goes up and down many times in short period of time.
This benefits bitcoin traders a lot since they have a lot of profitable trading opportunities every day.
At the end of 2017. Bitcoin had a big growth and it reached a price of over $20,000 USD. Just remember that BTC price was not even $1000 USD in January 2017.
Making high returns in short period of time is something that is always very attractive and that is the main reason plenty of people decide to enter the world of Bitcoin and cryptocurrencies.
Bitcoin Price Prediction
It is very difficult to predict Bitcoin price due to high volatility of Bitcoin and the whole cryptocurrency market.
The media news play a big role in today’s Bitcoin price movement. Every time there are positive news about bitcoin and cryptocurrencies, Bitcoin’s price rises.
How is Bitcoin created?
Bitcoin is created in the process of mining. Bitcoin mining requires very strong and powerful computers. Bitcoin supply is 21 Million and after that, it will not be possible to mine Bitcoin or create it in any way.
If you are not interested in investing funds in computer equipment and software for Bitcoin mining, don’t worry, you can still get get your hands on Bitcoin.
2. CFD Trading
What is CFD Trading?
One of the best things of living in the 21st century is the fact that people no longer have to toil away from dawn till dusk to keep their account “in the black”. The way to do this are numerous and CFD trading can certainly be one of them. But, what is CFD trading and what does it take to turn a profit? And, let’s face it – turning a profit is what we all want.
The easiest way to define what is CFD trading is to simply examine the name itself – Contract for Difference. This is, basically, a relatively simple contract made between two sides or parties (buyer and seller).
The contract specifies that a seller is required to pay a buyer the difference between the present value of a specific asset in question and the value the asset had at the time of the contract. Should the difference be negative, then the contract stipulates that the buyer has to pay the seller.
So basically, CFD trading is a financial derivative which makes possible for traders to profit from underlying asset prices moving up or down. Additionally, those who take part in CFD trading do not own the underlying asset.
According to available information, CFD trading is not allowed in the USA due to their securities law.
However, there are plenty of countries around the world which do allow CFD trading such as United Kingdom, New Zealand, South Africa, Spain, Australia, Canada, Russia, Norway, Germany, Japan, Ireland, Italy, Switzerland, Turkey, Sweden and many other countries around the world.
How Did CFD Trading Start?
The beginning of the 1990s brought about the novel way of trading, called equity swap at this point, and it was developed by UBS Warburg employees Jon Wood and Brian Keelan in London. In those early days, CFD trading was mainly used by various hedge funds to guard against the exposure on the London Stock Exchange in a cost-effective manner.
However, by the end of the 1990s, CFD trading was also made known to retail traders and made widely popular by various companies in the United Kingdom via online trading platforms. Aside from the stocks, the CFD trading also included currencies, indices, commodities as well as bonds. This also meant that traders had fewer limitations and more chances to diversify their traders in order to pocket the profits. In fact, nowadays with some CFD provider more than 10,000 around the globe can be accessed.
How Does CFD Trading Work?
One of the major attractions of CFD trading is that fact that traders can make a profit whether the prices are falling or rising. This is possible because the traders have a choice to either make use of long options (buy) or short options (sell). This allows traders more flexibility and greater chance to pocket the profit no matter the price direction.
Another major attraction of CFD trading is also shown when it comes to the investment itself.
As CFDs are a so-called leveraged product, the traders may boost their exposure on the market for a very brief time period with the investment being considerably lower than the one generally needed for trading the assets directly.
What is CFD Trading Offering to Traders?
Aside from the fact that traders may make a profit regardless of the price direction, there is the issue of momentary actions. Meaning, it is possible for traders to sell or buy positions immediately since there isn’t any settlement period.
Hence, what is CFD trading offering is that fact that the prices showcase precisely what is happening in the underlying asset market.
Then, there is also the opportunity to access numerous markets around the world from one account. This is made possible by many CFD providers and in doing so it is possible for traders to diversify their portfolio.
Unlike many other trading enterprises, it is possible to trade CFDs out of hours. That effectively means that traders can still trade CFDs even when the exchange is closed for the day. Furthermore, traders also do not need to worry themselves with the expiry date since there isn’t any.
Traders are free to trade any number of CFDs as there aren’t any fixed contract sizes.
Another fact that keeps attracting traders to CFDs is that this manner of trading is tax efficient since the trader does not own the actual underlying asset.
Lastly, what is CFD trading offering to all those interested in taking part is a simple and straightforward way of trading which will not take ages to learn and execute.
What are Possible Disadvantages of CFD Trading?
Naturally, any manner of trading brings with certain risks and this is something all traders need to keep in mind. So, what is CFD trading exposed to in terms of risk?
One of the most common mistakes done by many traders is the so-called overtrading issue. This happens because of low investment and easy access.
Another fact to keep in mind is that CFDs are over-the-counter (derivative) product and as such a trader does not own any underlying asset. By extension, this also signifies it is not possible for traders to transfer their position to a different CFD provider so they have to trade with a CFD broker they opened the position with.
Traders have to bear in mind the fact that high leverage also increases losses when they happen. Additionally, with CFD trading, traders have to pay spreads for both exiting and entering a position and that can make quite a dent when it comes to profits, especially if there aren’t any huge movements in prices.
Another potential pitfall is the regulation issue as this type of trading often lacks in that area. This places the necessity to thoroughly investigate the CFD provider prior to making any moves.
We advise all interested traders to check the provider’s reputation, longevity on the market and financial position.
With the right and well-thought approach, understanding the risks involved and starting slowly, trading CFDs could be a great way to make a profit.
CFD Trading for Beginners
No matter what we take up, a new hobby, new job or a new way of trading, the fact is – it is scary!
And while plenty of people give up when faced with a challenge, there are those who push forward and make an effort to master the skill necessary to be successful. For many the word “trading” symbolizes the world which is far from their reach. Luckily, this perception is changing and many are now venturing into various aspect of online trading. In recent years CFD trading has gained in popularity with many traders around the world now looking into this exciting profit-making opportunity. This article will deal with that issue precisely and will, in a simple but concise way, explain what CFD trading for beginner entails.
CFD Trading for Beginners – the Basics
The first step in understanding anything is mastering the basic information. When it comes to CFD trading for beginners that means comprehending the basic principles involved with this manner of trading.
Contract for difference (CFD) is, essentially, a difference between an entered and exited trade. It is a tradable instrument that depicts the motion of the underlying asset.
While the actual underlying asset is never owned by the trader, this way of trading still allows money gain (or loss) when that underlying asset moves according to the taken position. In actuality, CFD trading is a simple contract between a buyer and a seller. Traders are trading the difference in the price between the entry point and the exit point.
And it is this simplicity and straightforward manner of trading that has made it so popular among numerous traders around the world.
While this type of online trading originated in the United Kingdom in the 1990s it is available all around the world today with few exceptions. One of the exceptions is the USA which does not allow CFD trading nor is it permissible of US citizens to take part in this trading enterprise.
Another basic information that CFD trading for beginners has to make clear is that this is a very diverse market. It does not only include stocks (this is how it started) but also indices, commodities, currencies which allows traders to try their hand at numerous underlying asset markets. Nowadays, it is possible via CFD provider/broker, to access more than 10,000 trading instruments all around the world which is far from limiting and opens au a sea of possibility to make healthy profits.
Why Can CFD Trading be a Good Choice for Beginners?
One of the biggest attractions this way of trading holds for beginners is the fact that it is not necessary to have a huge amount of money to start trading.
However, there are several other reasons why traders find this manner of trading so attractive.
Firstly, it is possible to profit from short-term price movements in the available markets. Also, traders get to trade via the leverage CFD trading provides so, in some cases, it is possible to trade e.g. 100 to 1 leverage.
Another benefit of trading CFDs lies in only one trading account with which it is possible to access international markets. This is great for CFD beginner traders as it keeps the whole process simple.
Additionally, traders are able to profit from CFDs even if the market is falling via short-selling.
Yet another great thing about CFD trading for beginners is the fact that there is no expiry time and it is also possible to keep trading out-of-hours. The latter refers to extended hours some CFD providers are offering so traders need not be limited by the official exchange trading hours.
CFD Trading for Beginners – How to Choose a Provider?
Understandably, this is one of the questions which will plague any CFD beginner trader and it should not be taken lightly. However, what are major elements that CFD trading for beginners should cover to increase the chances for profitable trading?
As all beginner CFD traders have to conduct research it is advisable to not just learn about the basics of trading but also check the reputation of various CFD providers available on the market. Some of the indicators of reliability are the period of provider’s presence on the market as well as the company insurance.
It is also advisable that all traders, be they beginners or not check the service charges and margin level. With most CFD providers the margin ranges between 5-10%. When it comes to service charges, it is realistic to expect that majority of providers will charge both entering and closing a position.
Another thing to look out for is the trading platform itself as this is how traders are able to track what is happening on the market so it should be easy to understand and use.
As mentioned above, there are many CFD types available on the market today and, naturally, the more choice a trader has the more trading opportunities are at his/her disposal. Hence, traders need to make sure they know which markets are available with a certain CFD provider.
Important indicator when choosing a CFD provider, especially for beginner traders, is the spread (the difference between the ask and bid price) they offer. As a rule, the narrower the spread is the better.
Further aspects beginner CFD traders should look out for is the quality of customer service the provider offers and the account opening procedure. While these may not be the first on the list, and many actually neglect to pay attention to this, it is important. The quality of customer service can tell a lot about the provider as can a procedure to open an account. The latter should not take more than 24 hours at most.
Basically, CFD trading is intended for both beginners as well as more experienced traders. The most important thing is to do proper research and be aware of advantages as well as risk.
Any kind of financial investment is open to risk and losses may occur as markets are open to volatility and sudden change of price direction. Yet, in taking the time to carefully study CFD trading for beginners info as well as making sure that the reputable provider is selected, beginner traders may pocket the profits.
Can I Make Money with CFD Trading?
The motivation for most who enter the sphere of trading is rather simple – making money. Hence, the question of “Can I make money with CFD trading” is a legitimate one. By analogy, it is also a one which needs careful consideration.
While it might be true to answer it simply by “yes” we believe there is more to it. Mainly, every profitable venture, be it in the area of trading or other financial enterprise, includes more than one aspect that has to be mastered in order to make money.
The aim of this article is to present all or most elements necessary for a trader to make money with CFD trading. That includes the guiding principle in CFDs as well as advantages and risks one takes on if and when the trading process begins.
Lastly, there are also useful tips to keep in mind when trading CFDs which can come in handy and ultimately lead to healthy profits.
What is CFD Trading?
While more inexperienced traders could become seduced by some of the information they find about how easy it is to make money with CFD trading, it is a far sensible route to start slowly. And get your facts straight.
CFD trading, a relatively novel trading instrument which appeared on the market in the early 1990s, is a derivative product which acquires its price from the underlying asset such as stocks, commodities, indices or currencies. Hence, Contract for Difference (CFD) is, in fact, a difference between the entry position and the exit position.
While trading is as old as the hills, this new and simplified approach to trading various underlying assets is what keeps attracting new traders into the game. Unlike traditional trading, when trading CFDs the trader does not actually own the asset. The CFDs simply reflects the price of the underlying asset. This enables traders to make money with CFD trading when the selected asset shifts in relation to the taken position.
In actuality, CFD trading is a simple contract forged between a buyer and a seller.
How Can Traders Make Money with CFD Trading?
One of the many reasons why CFDs are gaining popularity among traders is their diverse nature. Unlike trading stocks, the market here is much wider which enables more ways to make money with CFD trading. Instead of being limited by only one type of underlying asset, with CFDs there is a fine selection which includes commodities, indices, currencies as well as stocks. The fewer limitations traders have the more opportunities there are to make healthy profits. Naturally, there are some limitations, most notably for US citizens which are, under the US law, forbidden to take part in CFD trading. However, there are plenty of countries around the world which do allow this type of trading like the UK, Canada, Australia, Japan, Ireland, South Africa, Sweden and much more.
Another great benefit which adds to the probability of making money with CFD trading is low investment necessary to start. Unlike stock trading, where a trader needs to pay the full sum to enter the market, with CFDs only a small percentage is paid. The margin is different with different CFD providers with some offering only 1% margin but, in most cases, this moves between 5% and 10% at most. Yet, traders need to be conscious of the fact that the leverage can boost both the profits as well as the losses.
Another interesting and attractive aspect lies in the fact that it is possible to make money with CFD trading in both falling and rising markets. This is possible due to trading the price movement rather than owning the actual underlying asset itself.
While, in most cases (though this may vary from one CFD provider to another) the traders have to pay a commission. This means that a percentage is charged for both opening and closing a position. But, on the positive side, this commission can be as low as 0.1%.
With more standard types of trading, traders have limitations like expiry dates and trading hours of a particular exchange. Naturally, if a trader is free to keep the position open for as long as he/she wants the possibility of making money with CFD trading is higher.
More Tips to Make Money with CFD Trading
While knowing the basics is an absolute must, there are also some handy tips and trips traders may apply to their CFD trading and secure higher profits.
Most tips actually deal with a sensible approach as well as careful planning as well as being well-informed about CFDs as well as your CFD provider/broker.
It is easy to fall into a trap of overtrading and opening too many positions at once due to lower investments. This could be a costly approach. It is better to start slowly and use sensible options and stop loss (if it is provided by the CFD broker).
Traders also need to manage their existing traders carefully instead of just looking for new opening positions. The same can be said about carefully choosing your CFD provider. While it might be attractive to use one which offers the lowest margin, other considerations also need to be taken into consideration. Those include the quality of customer service, security provided on the platform and the trading platform itself.
Working on the trading plan and developing a trading method is another key aspect of successful trading. Nothing is learned and mastered over night, so expecting to do so with CFDs is not realistic and can be potentially detrimental to profit making. Traders are advised to take time not just to study the market, but to familiarize themselves with all the aspects involved in the trading process.
This does not only include the underlying assets themselves but rather more complex issues of whether to trade the long side or the short side. In the first instance, that means buying an order because it is expected that the price will rise and the sell order will be used to close the position. On the other hand, a short position since the trader is expecting the drop in the prices. Here, a buy order will be used to close the position. This is one of the most interesting aspects of CFD trading as it is possible to make money directly from the falling prices.
The main point is to keep the losses low and develop a trading method which can be used again and again with positive results. This is also a way to make sure the profits are not just a result of luck but a planned action with reliable results.
Trading CFDs can be a great way to make money but it needs careful consideration, studying as well as knowing the risks beforehand.
3. Forex Trading
4. Binary Options Trading
Binary options are quite different from regular trade options. While regular options give you the right to sell or buy underlying assets at a certain price, binary options only give you a fixed return if the asset sells at a lower or higher price. The core of binary options trading is making predictions on the future price of an underlying asset.
The prediction can only be for an upward or downward movement in price, even if it is by a few cents. When you pay for a binary options contract, you are agreeing to receive a percentage (usually between 65% and 81%) or lose the same percentage if your prediction is wrong.
Given that the entire outcome of the trade depends on you, the trader, you must know how to influence a win, in this case an in-the-money deal. An in the money result happens when your prediction is right, earning you a payout. Some knowledge on market trends and a few tips will help you trade better and increase your gains in binary options.
The first thing you should do before making a go at binary options is learning as much as possible about the method of trading. There are many online tools that one can use to increase their knowledge of binary options. Choose a simple course or tool whose teaching guide uses plenty of visual aids.
Second, begin by opening a demo account. Most binary options brokers give access to demo accounts, which hasten the learning process for the new trader. A demo will enable you keep track of changes in the binary in real time, without risking losing money.
It is a great way to learn strategies, know how the trade works and learn the best approaches to take. When you are finally confident of your demo skills, you can make a go at trading with real currency.
The demo account is largely tied to the kind of broker you use. A good broker should be able to provide a good platform in which to trade. In addition to user friendly navigation tools, they should provide customer support, helping you where you are stuck.
Choose a broker who has been in the business for a while and has a proven track record. Brokers dealing in binary options tend to specialize in this method alone and so are able to provide the best instruments and terms of trade.
It will pay to understand how the market works. Do not attempt to try your hand in binary options trading just because everybody else is doing it. Take the time to study what is required, know all the rules and regulations, find out what factors are likely to affect the value of the asset and any other important detail that would have an effect on the outcome of your prediction.
Know when to enter or exit the market. This is very crucial for the person who wants to make money. Just like the stock market has seasons, this too has its good and bad timings. To get to the stage where you can correctly predict the movement of asset prices, you will need to dedicate a lot of time to learning about the market.
If you are using a good broker, this will be easy as they will provide all the advice and technology needed to give you in depth information. Charts and graphs that you can interpret and a history of market performance are just some of the tools that can help you know what the best times to buy into the market are.
Binary Options Trading Platforms – Binary Options Broker
Every process has elements and various stages, and the same is true for binary options trading.
However, one of the crucial steps involved with the process of how to get into binary trading is inextricably tied to the selection of the binary options trading platform, i.e. binary options broker.
And the choice is certainly wide.
Yet, with over 200 brokers offering their services to traders this could be an overwhelming task.
However, by first inspecting the well-known and appreciated industry names such as:
- IQ Option
Once the trader has selected a preferred broker (or brokers) this is what he needs to do in order to get into binary options trading.
Step by Step Guide to Binary Options for Beginners
The first thing after deciding on the broker is to go through the registration process. This should be a simple process, taking only minutes to finalize. Traders also have to make a deposit, the requirements concerning the amount vary from one binary options broker to another.
Yet, with most brokers, this is set at $250. HighLow is an exception to that rule with the $50 minimum deposit requirement which makes it extremely popular among traders, especially those who are beginners.
Once this is done the traders are free to embark on the actual trading process which, again, consists of several steps.
Four Essential Steps in Binary Trading for Beginners
- Step 1: select the underlying asset, usually there are four groups of asset available – commodities, stocks, currencies, and indices
- Step 2: select one of the available expiry times
- Step 3: invest the preferred amount of money
- Step 4: make an educated guess of whether the price of the asset selected is more likely to increase (Call) or fall (Put)
In a nutshell, this is how to get into binary trading if traders opt for manual binary options trading.
However, considering the advanced technological age we live in, groundbreaking auto trading systems have been developed to further aid the trading procedure. Especially considering the ever-increasing number of beginner traders who wish to have a profitable trading journey.
Binary Options Trading Strategy
Take advantage of stop loss strategies. The stop loss is used widely across all financial platforms as a way of minimizing loss for investors. Each market tool has its own unique stop loss terms. Understand what the terms are for the tool you choose to trade in so you can use it to your advantage at the right time.
The market you are trading in will also determine the type of trade loss used. Average markets tend to have tougher stop loss strategies than volatile ones so if you are buying a contract for one such market, you must understand perfectly well how the market operates and how to make the right timing to invoke a stop loss.
How Does Binary Trading Work
If you are new to binary options trading, you may find that you have a very low level of risk tolerance. In this case, you will need to invoke the stop loss to protect yourself from high losses. As you gain experience, you will gradually adopt strategies to minimize your risk of loss. At this stage you will find that you no longer require stop loss strategies as much as you previously did.
If possible, buy options in a market that you are somewhat familiar with. This will reduce the likelihood of making the wrong predictions as you already know the market pattern and what to expect. If you have invested in the commodities market before, you might want to consider starting your binary options trade with a contract in the commodities as opposed to one in the forex market. You are likely to have more confidence in your prediction/decision when you choose a market that you are familiar with.
Again, stick to the less volatile markets, those whose performance is rather predictable. With these markets, you will in most cases know how certain happenings in the market affect the value of the asset.
Becoming a Binary Options Broker
We have all been there, taking up something new and having a head full of questions. This can be especially frustrating when everybody around you seems to use terms you do not understand and walk about as if they know everything from A to Z. In some instances, this is harmless, even entertaining to a degree.
But, if one is a hopeful financial investor who does not understand the difference between becoming a binary options broker and a binary options trader then that could spell trouble.
For an interested individual who is hoping to earn some extra money in trading, trading to make sense from all the different terms used in the industry can be a nightmare.
Hence, in this article, we will try to introduce all the major aspects of binary options trading and especially highlight the difference between becoming a binary options broker and binary options trader.
Becoming a Binary Options Broker … or Not?
If one has just heard something about binary options trading and how profitable it can be, in all likelihood that individual has also heard terms like “becoming a binary options broker” and becoming a binary options trader”. Let us make clear that these aspects of binary options trading are vastly different and these terms are not interchangeable.
For most people looking to trade binaries becoming a binary options broker is not what they want. Instead, they wish to become binary options traders. Binary brokers are actually companies which posses a trading platform where traders then trade binary options.
The entire trading process happens online, which means that traders get to access the trading platform via a browser. They do not even have to download anything in order to start trading.
Naturally, there are plenty of business companies who have decided on becoming a binary options brokers. But considering the fact that there are some 500 binary brokers vs millions of existing and potential binary options traders, the numbers tell a poignant tale.
Nonetheless, binary brokers provide online trading platforms which offer a number of assets, usually divided into four groups – commodities, stocks, indices, and currencies – as well as various trade options and other useful trading features like the demo account.
The basic principle of trading binaries is fairly simple and is centered on a single fact – the price of the selected underlying asset can either go up or down. Traders, based on their own market observation make an educated guess what is most likely to happen. And, based on that prediction, they will either make a profit or lose the invested sum.
Naturally, not all binary brokers provide the same level of quality but opting to enter the world of binary trading with some of the well-known binary broker names like IQ Option, 24option, PlusOption, StockPair or BD Swiss is a more secure path.
Another benefit of trading binaries is the fact that location does not represent any issues as most (if not all) brokers offer a mobile trading app so traders can use the trading platform at all times.
Becoming a Binary Options Trader
Becoming a binary options traders instead of becoming a binary options broker is what most are actually aiming for. And, as procedures go, this is a fairly simple one.
A person interested in trading binary options will have to find a suitable broker and then create a username and password.
The next step is making the deposit with the selected broker. In most cases, the minimum deposit is set at $250 though, one of the most prominent brokers in the industry, IQ Option, has a $10 minimum deposit rule which makes binary options not only attractive prospect but an affordable one as well.
With those perk, another aspect which is appealing to hopeful traders around the world is the straightforward principle of binary trading, which makes it fairly easy to understand and later apply in the trading process. Still, those hoping of becoming a binary options trader need to understand that knowledge and skill are required. Which is where binary brokers come in again.
Most of the professional and respected brokers will have invested into a comprehensive Educational Materials section.
In recent years there are plenty of webinars and video tutorials as well as articles on how to become a successful binary options trader and earn hefty sums included in the educational materials.
We urge all traders, be they beginners or professionals, to constantly check this section for news and updates as that can only be a positive contributing factor to their success in the trading process.
Understanding the Difference: Becoming a Binary Options Broker vs. Trader
In making sure that interested individuals understand the difference between becoming a binary options broker and a binary options trader, it does become easier to understand the basic terms.
This, also, means that people are less likely to end up confused and deterred from getting involved with this online trading enterprise which can have a significant positive outcome in terms of additional profits and new skills learned along the way.
Auto Trading Systems – Perfect Binary Options for Beginners Approach
Auto trading systems, also known as binary robots, have taken the industry by storm. And it is not hard to understand why. By utilizing these advanced trading systems even those who lack experience in trading can achieve profit.
There are several advantages to using binary robots as a means on how to get into binary options and the fact these solutions are mostly free to use is just the icing on the cake.
Meaning, traders do not have pay extra fees to use the binary robots.
Rather, they have to make a deposit with the binary options broker which supports particular auto trading system and then continue with the process.
Most Popular Auto Trading Solutions on the Market
While various available binary robots such as the popular Binary Options Robot, Simple Auto Trading, Binary Robot 365 or Option Robot all have features specific to a certain product the guiding principle is the same.
Traders need to adjust the features to their liking (which assets they wish for the robot to trade, which strategies they wish to use etc.) but then the system, taking these specifics into consideration, embarks on scrutinizing the market using state-of-the-art algorithms.
Accordingly, the binary robot will place the trades which are most likely to be profitable.
Another thing which should be included in advice for binary options for beginners is to always look for an auto trading solution which demands that traders be online when the actual trading process takes place.
That way traders will always be able to monitor what is happening and the possibility of scam is minimal.
For many beginner traders this is the perfect way on how to get into binary trading as the pressure to make a profitable trade is not squarely put on their shoulders.
Regardless of the manner of trading binary options, being informed, staying informed and being aware of the risks as well as using all available help is the best way to approach the trading process.