A binary trading option is one of the most complex trading options. But you can utilize them in simple terms, and they are quite easy to understand as well. One of the simplest types of binary option is the high low option that is easy to understand and deal with. It is also known as a fixed-return option where it brings complete access for the commodities as well as stock market indexes (indices) or in stock. If you want to work with binary options, you do not need any experience or previous skills, just the desire to learn more.
Tips to Start Binary Options Trading as a Beginner
- If you want to be a successful trader in binary options, it is essential for you to use at least two or three brokers. You can make a full list and pick the one that is the most reliable for you.
- Get yourself registered with a good trading platform and deposit the money. Depositing money is the primary step to begin trading. The minimum deposit amount for the binary options is just R1500 ($100).
- Now you should make the selection of assets for trading. Some of the shared assets that are employed in trading platforms are indices, commodities or stocks. You can often choose to perform trading in the form of currencies such as EUR/USD.
- Ask yourself how much amount you can invest. As you are investing in the asset, you will encounter the payout or returns for the assets. This payout can be almost 91%. If you want the prices to be high, you have to select Call (Up). But if you have predicted that the prices will fall, you should choose the option Put (Down).
What to Know About Binary Options Scams?
Scams in binary options occur mostly from the side of the broker companies. They are one of those companies who guarantee you to be legit brokers or licensed trading companies. But at the end of the day, they are just fraudulent. When you invest your money with such companies, they will never give you back the profitable return.
Scam brokers in binary options are performing the scam activities by using tactics to win the trust of clients to invest their money. Some of the primary tactics or methods used by them are as mentioned below:
- Cold calling
- Downplaying the risk
- Stolen Data
If at any point, you receive a call or email from a broker company with whom you are not registered, the best way is to ignore them instantly. They will continuously make efforts to win your over by letting you know about the exclusive services they offer.
Guidelines to Avoid Binary Options Scams
Scam brokers can be really convincing when it comes to their promises. They will portray themselves as stock market magicians and make promises that your invested amount will get a huge profit in just a couple of days. But this is all false!
The first thing you can do to avoid the scams is keeping your head clear at all times and taking their promises with a grain of salt. If the broker is presenting you an image that is too good to be true, trust me, it is. Try to stay realistic and never think that they will turn you into a millionaire in just one night. Even a big, well-established company needs a couple of months to give back a huge profit to their investors.
You should keep yourself updated with the news and all the reviews related to the financial condition of the market. Sometimes the reviews of the third party can help you to avoid scams. Reputable companies will stay up to date with the current news and regulations and you can sometimes spot a fraudulent company by their lack of knowledge about current events. Some of the regulatory bodies even issue the warning statements on various kinds of frauds linked with binary options.
Additionally, try to stay connected with the regulatory bodies all the time. Such agencies or organizations will help you to figure out about individual best binary options companies in the market, which offer an excellent return on your investment.
Dealing with scams might be a reality to some, but there are always ways to lessen the chances if you keep a clear and skeptical mind. Keep in mind however that if you are a beginner in the world of binary options or brokers, then you will definitely be on their target list. Quite a few investors in the market has had to face a possible scam in their investing journey once or twice, and all these scams has helped them by making them wiser and stronger investors. To learn more about binary options in South Africa, you can visit the platform of http://www.tradeforexinsa.co.za/binary-options/binary-options-in-south-africa.html. This platform often helps you to learn about social trading and crypto services in the market. Get in touch with them now!