So far, you have probably heard about Forex trading. You know that Forex is a multi-trillion dollar market, you can trade large amounts with minimal capital, and you probably know how complicated real trading can be. What you don’t know is that there is a good alternative to Forex trading: Binary Options Trading.
Binary options trading will come close as many Forex traders are now testing Binary Options (BO) waters. Why do we see so much crossover between forex trading and BO?
The answer is quite simple. The two areas are very similar in many ways. When BO trading to name some areas that overlap, you can actually trade Forex currencies. In addition, you essentially forecast the movement of the asset based on the analysis of the Forex market.
In addition, as in Forex trading, Binary Options also require a very small amount of initial capital, and the profit option is in both directions. If you predict that existence will decrease and it will decrease, you make money, and if you predict that it will increase, and it happens, you make money too. Same with Forex trading.
So if there is so much in common between Forex trading and BO trading, why do so many people leave the first and move on to the second? The truth is that just as Forex trading is attractive to many people, BO has certain advantages.
For starters, BO trading is significantly easier than Forex trading. Decide if you think the asset will rise or fall, and that’s it. No charts, analyzes, Fibonacci and re-tracking.
In addition, the gain in Binary Options is immediate and transparent. Finally, all binary trading platforms are web-based, meaning you can trade binary anywhere as long as you have an internet connection.
Whether you choose to trade Forex or binary options, it is important to have some kind of strategy that includes your financial goals, exit points, and how ready you are to risk, and a clear definition.