IQ Option trading – Tutorial for beginners.
Lately, binary options have become an exotic trading platform where people trade their money to get a lucrative payoff. Among the other available trading platforms, binary options have grabbed the attention of many traders with their high returns.
But one thing that traders generally forget is that as profitable as trading in binary options is, this market involves equal levels of risk. How, you might ask? That’s because if you have incorrectly speculated the market, you will lose all of your traded amounts.
In simple terms, the binary option is all or nothing market because you either win a huge payout or lose all the traded amount. Since binary options are risky, traders need to choose a broker that is legally registered with some reputed organization. If you are a newbie, this article will act like an IQ Option Guide for you.
Why should you trade Binary Options?
Seeing the risk involved with binary options, it’s natural to ask why one must trade in this volatile market? Well, the answer to this question to simple. Despite the risk, people like trading binary options because the odds of winning a great payout are high.
If you know this market inside out, you have a good understanding of the movement of asset’s price, and if you can read the chart, you are likely to make an accurate prediction. And with a correct prediction, you can win around 70% to 95% of the payout on your traded amount.
One of the huge benefits of binary options over other such trading platforms is that you get a payout even if the asset price moves 0.001 in your predicted direction. Thus, it makes it easy for traders to make huge money out of this market when different markets ranges.
If you are still not sure about the idea of trading binary options, here are a few points that will change your mind.
Easy to Learn.
Even if you have never traded binary options, you don’t have to worry about learning the concepts because you can easily understand everything. Some traders might say that learning binary options is difficult, but that’s not true.
You can easily understand how different binary options trading charts work. Besides this, you can also figure out how trading indicators work. And lastly, by enrolling yourself in a good course, you can learn about the basics of binary options.
With this information, you can quickly make an accurate prediction. And then, you can decrease the possibility of losing a trade.
You can Earn Profit in No Time.
One interesting thing about binary options trading is that you don’t have to wait for a long time to earn a huge payout. On the basis of selected assets and considering your trading strategy, you can select an expiry time.
Different trading brokers allow different kinds of expiry times, but most of them start with 1 minute and go up to a year. So, for any given trade, if you select the expiry time of 1 minute, that means you can earn profit in less than a minute.
This Market Does Not Require Higher Investment
For trading binary options, you don’t need a huge amount of money. That’s because you can operate most trades at as little as $1. Even at this much-traded amount, you can expect a payout of around $0.90.
Returns are Fixed.
Another interesting thing about trading binary options is that returns are fixed. That means, for any amount you are trading, you can expect a payout of around 70% to 95%.
The percentage of payout that you get generally depends on the volatility of the assets you are trading. If the volatility is high, you can expect a high return. Otherwise, you will win an average payout.
Besides volatility, the percentage of payout also depends on the movement of an asset’s price. The more the price moves in the predicted direction, the better payout trader can expect.
Maximum You Can Lose is How Much You Have Invested.
If your speculations are not correct, you will lose the money. But the amount that you will lose will not be more than the amount that you have traded. That means, along with returns, your losses are also fixed.
It is generally advised to trade around 1% to 2% of the amount in the bank account. That’s because this way, traders can experience the world of binary options without putting their financial freedom at risk.
A Wide Range of Strategies.
Binary options are one of the few trading markets that involve different kinds of trading strategies. As a result, you can do quick research to understand trading techniques. And based on the techniques, you can develop strategies.
Why are Binary Options getting popular?
Binary options have been traded for a long time, but it was only in 2008 that this trading platform became available for common people. Before this year, only reputed businessmen and wealthy professionals were allowed to trade binary options.
Once binary options became a publicly tradable platform, it has emerged as one of the first choices of traders. A few things that favor binary options include fixed returns, fixed loss, trusted brokers, easy concept, and high payout.
If you are a binary options trader, you might know why this trading platform is popular. But if you don’t know anything about this platform, you can read below to expand your knowledge.
If you don’t want to confuse yourself by trading on a difficult platform, the binary options market is just for you. This simple-to-understand platform does not require you to have deep knowledge of binary options.
With just the basics of binary options, you are all good to go. However, to start trading the right way, you need to find a trusted broker.
Where most trading platforms require a trader to invest a huge amount, binary options let the trader start making huge money with low investment. Most options are available to be traded at around $1.
There is no other trading platform like binary options that offers a payout of up to 95%. Also, there is a limited time for every trade. That means, with accurate speculations, you can win a high payout in no time.
So, if you don’t want to wait for a long time and end the trade in less than a minute or hour, choose binary options for trading your money in the volatile market.
What is Binary Options broker?
If you want to trade binary options, you must take the help of a broker. In simple terms, a binary options broker can be seen as a simplified way of buying and selling binary options products.
Binary options broker makes it easy to trade in this volatile market. But finding a broker is not as easy as it seems. Why, you might wonder? That’s because, with the popularity of binary options, the number of fraud brokers has also increased.
But don’t worry because there is one thing you can do to mark yourself safe from the attack of fraud brokers. Here we have listed some tips that you can go through to easily check the authenticity of the broker.
Know whether broker is regulated.
Lately, fraudsters have started taking over the binary options trading world. But one thing that separates fake brokers from authentic binary options trading brokers is the regulations.
Unlike authentic brokers, scamming binary options platforms are not regulated by any trusted authority. Unfortunately, that means they are not regulated.
If you want to limit the possibility of getting scammed in this volatile market, you should choose a regulated broker because such trading brokers are more trustworthy.
Read Terms and Conditions.
Reading terms and conditions sounds too overwhelming, but this way, you can save yourself from making a terrible mistake. Once you have read the long and boring terms of a booking website, you can understand whether the platform is worth working with or not.
Consider the experience.
A trading platform that has been operating for a long time is less likely to scam people. It’s a general rule that if a broker is more experienced, it’s more trustworthy.
That’s because if a broker has been successfully rendering its services for a long time, that shows the broker is reliable, and also that it keeps the traders satisfied with its services.
But if a broker has recently entered the market, you should think twice before working with it. If under given circumstances, you have to work with a new broker, do not forget to check the offered services and other important features.
If the trading broker is authentic, they would care about their client’s welfare. That’s why trusted trading brokers always provide the best trading tools to their registered traders.
They do this because their main aim is to make a profit and help the registered traders make wise decisions. By using the given tools, you, as a trader can easily identify the price movement of different assets like indices, stocks, currencies, and commodities.
Certain trusted binary options brokers offer a demo account so that traders can practice and get a closer view of the real binary options trading world.
Practicing in demo accounts is very important, especially for new traders . That’s because such an account allows traders to get an actual trading experience.
Check withdrawal and deposit options.
If you don’t want to work with a trading platform that has ridiculous withdrawal and deposit options, always check the deposit and withdrawal options.
Certain binary options brokers have set a limit. That means you cannot without or deposit below an amount that has been set. If you face any issues in understanding the withdrawal and deposit options, you can reach out to the customer team of the trading platform.
Consider if broker offers support.
Another thing that speaks for the authenticity of the broker is the kind of support that it offers. For example, if the broker provides 24/7 support via phone and email, that means the broking platform cares for its registered traders.
Besides this, you must also check the kinds of assets that the brokers offer for trading. If the broker does not offer a familiar asset, you can drop the idea of working with it.
By looking for these things, you can keep yourself safe from falling into the trap of crooked brokers.
What is IQ Option trading?
Founded in 2013, IQ Option is one of the trusted trading platforms helping traders invest their money in the highly volatile binary options market. This trustworthy platform is registered and regulated by a reliable organization.
IQ Option is designed to make it easy for people to trade their money in binary options by limiting the risk. This platform has made different trading assets available for traders like forex, stocks, commodities, and indices. Majorly, this platform is best for trading CFDs.
This platform is based in Cyprus and has developed its range of trading instruments. IQ Option is comparatively a new platform, but it has developed a good reputation among traders for offering reliable services.
The user-friendly interface of IQ Option makes it easy for traders to use it on mobile phones and desktops. The trading tools offered by this platform include economic calenders, historic quotes, multi-chart layouts, stock screeners, technical analysis, market updates, and volatility alerts.
One thing that has made IQ Option so popular among traders is its friendly customer service. To simplify the trading process, this platform offers its services in around 13 languages .
IQ Options accepts traders from around 213 countries . Not to mention that around 1 million transaction takes places on this platform every day. So, if you are impressed with the features of IQ Options, get yourself registered with it today.
How to start trading with IQ Option?
If you want to start a trade with IQ Option, the first thing you need to do is create your account. For doing this, you are required to visit the main page of IQ Option’s website. After that, you must fill in the necessary information. Once you are done, you can use this platform.
Before starting the trade, IQ Options requires every trader to make a small deposit of amount $10. This deposit amount is one of the lowest amounts charged by any broker. After depositing the required amount, you also get access to a demo account where you can practice using dummy money.
Not just the deposit amount is way cheaper but the process of depositing the money is also quite simple. You can make a quick deposit using a debit or credit card, Neteller, Skrill, and other e-wallets.
Other fees charged by IQ Option.
When you are trading with IQ Option, you are also required to pay a withdrawal amount. Now, the withdrawal amount is not set by the broker. Instead, it depends on the method that you are using to withdraw your money.
No matter what withdrawal method you select, you cannot withdraw money less than $3 because IQ Option cannot process that withdrawal amount.
Talking about the trading and transaction fees, IQ Option does not charge any kind of transaction fees. But this platform surely charges inactivity fees if your account is not used for 90 days or more.
Another highlight of using IQ Option is that it does not charge maintenance fees or any other kind of minor fees.
Most traders who register themselves with IQ Option get access to the standard trading account. But once the total deposit in any account goes beyond $3000 , this platform upgrades the trading account of that trader to a VIP account.
The benefits of a VIP account include getting a chance to trade in a high-yield asset that can make around 91% profit.
Is IQ Option profitable?
IQ Option is surely a profitable platform that can take you one step closure to getting financial independence. But it’s possible only when you have a detailed trading strategy. If you don’t have a winning trading strategy, you will lose a huge amount of money.
Another thing that can help you reduce the odds of losing is knowing the asset you are trading. If you know your asset, i.e., if you are familiar with its movement, nature, and volatility, you can easily predict its price movement. And just like that, you can make a winning trade.
Is it safe to trade with IQ Option?
Before you start trading with IQ Option, you must find an answer to whether trading with this platform is safe or not? Fortunately, this platform is safe to use. We are saying this because this broker offers its trading services in around 213 countries. That means IQ Options has around 40 million clients.
Advantages and disadvantages of IQ Option.
Just like any other trading platform, IQ Option also has certain limitations and advantages . So, before you register with this platform, make sure that you are aware of them.
This trading platform charges a minimum deposit fee of $10. After registering yourself with the IQ Option, you also get a free demo account. You can start trade with as minimum as $1. It is one of the best platforms in the market. Different trading strategies can be used for this platform. Lastly, it offers free training programs.
As compared to other trading platforms, IQ Option offers limited assets. Bank transfer has around 50 USD fees. Binary options contracts for trade are limited.
Alternatives to IQ Option.
If you are not impressed by the services of IQ Option or simply searching for a different trading platform, here are a few alternatives for you to decide.
If you don’t want to risk your money by trading with a non-registered platform, 365Trading should be your choice. This platform is based in Cyprus and registered with CySEC. It was founded in 2012, and it happily accepts the traders of the EU.
However, if you are a resident of the US, this trading platform is not for you. One interesting thing about this trading platform is that it uses in-house software that keeps up the privacy and safety of registered traders.
Another popular binary options trading platform that you can choose is the Ayrex. This platform is based in the UK and has its application pending with CySEC. It offers around 70 assets for trading, but it does not accept the traders of the U.S.
To start trading with Ayrex, you need to make a small deposit of $25. One thing that makes this trading platform better than the rest is its instant withdrawal option. Also, this platform is mostly used by short-term traders.
Another trading platform that you can trust without any second thought is Binary.com. This trading platform is regulated in the British Isles, Ireland, UK, and Malta. To start trading with this platform, you need to make a minimum deposit of $5.
Binary.com offers support in 12 languages. Also, it offers a virtual money account to traders. Lastly, this platform supports different tools and indicators that you can use to increase your chances of winning.
The last alternative to IQ Option is BinaryMate. This platform is UK-registered and follows strict financial regulations. When trading binary options using this account, you can expect a payout of around 90%.
While BinaryMate is an excellent trading platform, its only downside is high deposit money. To start trading with this platform, you need to make a deposit of $250.
Binary options is a legal and trusted market where several traders invest their money. With accurate market information, one can quickly make a winning trade. But if the predictions are not correct, you can easily lose all the traded amount.
Among the available binary options trading platforms, IQ Options is trusted by many. That’s because this platform has a low deposit fee, which is affordable. Besides this, the platform also offers different tools that make trading easy.
While trading with IQ Option, you can expect a payout of around 95%. Also, you can start the trade with as little as $1. Not to mention, this platform offers different features and tools like candlesticks, charts, lines, and historic analysis.
Learn every technicality of Binary Options trading.
Binary Options trading is an easy and simplest form of investing money and earning profits. You just need to keep in mind that there are loads of technicalities involved in every single trade of binary options. The only thing that beginners miss out on is to pursue the right binary options education .
If they had undergone the binary options education or a course, they would literally understand what it takes to place a bet. It is not just about choosing an asset & placing the bet on a selected trade. In fact, it takes a lot of analysis that the professionals implement in order to make more profits than losses.
Therefore, to help you master the art of binary options trading, here is the list of all the technicality and guidance that you will need for streamlining your trading journey.
What is Binary Options trading?
Binary Options trading is all about picking one among the two options that state whether the price of a selected asset will go up or down. You need to select a trading amount, expiry duration and make the prediction. Now, wait for the expiry duration to end, and you will get your winning or losing results.
Why is it important to get Binary Options education?
Binary Options trading has the potential to make anyone rich with immense profit. But the fact is you might also lose all your money with just a few poor trades. Therefore, it is better to understand the technicality and tactics of approaching this trading journey.
The technicality includes picking the right broker platform, choosing the right asset, picking the right trade, trading a substantial amount, and others. These aspects are not easy to master. In fact, it requires years of practice to perfect the trading tactics.
But with the right kind of guidance, you can definitely learn to cope up a bit faster with this trading journey. So, take up this binary options education to kick start your journey of earning immense profits.
Two ways of learning Binary Options trading.
There are two possible ways in which you can expect to learn binary options trading. One is ‘by doing,’ and the other is ‘by observing.’ As a matter of fact, you must move ahead with learning this trading aspect and simultaneously doing it.
While you start with binary options trading, you will definitely encounter a stream of losses, which is a fact. But you will also win few trades that will help you neutralize the losses to keep going on with your practice sessions.
On the other hand, if you just want to learn by observing and without investing, you might only get theoretical insight into how this trading aspect works. But you won’t have the guts and tactics to make an investment or trade.
Therefore, it is advisable for you to take an idea from any educational resource and do practical hits & trials. In this process, you will get a clear idea of both theoretical and practical aspects. Most beginners prefer to take up this route of learning binary options trading while investing in it.
And that is what seems convenient for the new traders to master the art of earning a fortune with ideal binary options education .
Pick the best Binary Options broker.
The powerhouse of binary options trading is a broker! They offer platforms in order to give you the best interface to understand the asset’s price movement and trade with it. The broker platforms need to be regulated and licensed to offer you ideal bonuses and rewards for signing up.
These bonuses can be used in trades that allow you to keep your own funds aside for the initial investments. Pick the broker that offers you the maximum bonus and has sufficient reliability in terms of fund security, deposit options, withdrawal options, and others. It will support you during the beginning phase of trading.
Understand the asset selection process.
You just don’t have to go ahead and pick any of the assets you like! Instead, you need to scroll slow and go through every asset that you have heard or know about. You must only go with the asset that you are familiar with. It is because you will be able to research and analyze it to make accurate predictions.
You can check the news, market signals, and social media updates for the asset and its price variation. These aspects will eventually help you predict whether the price of your selected asset will move up or down. Hence, the winning chances would increase.
One more thing that you need to count on while choosing the asset is the payout. The maximum payout of assets varies from one another, and the broker platform also plays a role in setting it up. Therefore, it is important for you to go with the known asset that has the maximum payout.
Place your trade bet.
The next thing you need to do seriously is, think of the amount you are willing to bet on. It is important that you start with the lowest trading amount, as stated by the broker. It is because there is no smartness in investing a big amount right from the first trade.
Go slow, and if possible & available, use the bonus funds you got for signing up to place your first few trades. In this way, you won’t incur more losses right from the beginning of your trading journey.
Trade big, only when you are confident enough about the asset’s price movement! But until then, keep a down track! It will help you control your losses and maximize your winning amounts.
These are just a few aspects of binary options education . But there are more factors of analysis and tactics that you will learn only when you step into it. So, if you have heard about binary options trading and its potential, it is advisable that you come and give it a try. Implement strategic playing over guess-works!
Best Binary Options courses.
Like any other trading market, binary options is also a financial place where people trade their money to win a greater profit. One interesting thing about this trading option is that you either win all the money or lose everything.
In a simpler way, binary options can be seen more like a prediction that can go either right or wrong. As an investor, you have to select one of the assets from the given option and predict whether its value will go above or beyond the given option.
One interesting thing about binary options is that you are given different trading times. If you want to make quick money, you can choose 60 seconds trading, but if you want to wait, you can select a trading time of around one year.
To place an accurate bet, you need to have in-depth knowledge of binary options. But how will you get that? The answer is simple. You can enroll yourself in binary options courses and can become one of the best traders.
What are Binary Options?
Before you start your binary options classes, it’s important to know certain things about this trading environment so that you can survive here without facing any significant losses.
While binary options are getting popular, people are still not sure whether or not they can make real money in this market. If you are also worried about the same thing, you would be glad to know that making real money with binary options is possible.
It’s a volatile market with caped profit and caped risk. So, if you don’t want to lose money, you must analyze this market, have good knowledge about the movement of assets you are trading in, and consider the chart’s information.
How do Binary Options work?
Since you have a brief idea of binary options, it’s time to learn how binary options work. Once you know this, you can freely choose between any type of asset. So, scroll down to know how it’s done.
One thing that has made binary options so popular is the fact that it’s an all-or-nothing market. But this is not it. Another specialty of this trading environment is that it comes with an expiry date or time.
That means, as a trader, you have to guess whether the price of a selected asset will increase or decrease beyond the strike price before the asset reaches expiry time. Here are three things that you should remember:
The underlying market is where you choose to place your trade, i.e., forex, commodities, events, or stocks. The strike price is the underlying value of an asset that binary options brokers decide. As a trader, you have to analyze whether the value of a given asset will cross its underlying value or not. Lastly, the expiration time of an asset is the time until which the option will last.
Although trading in binary options sounds tempting, this market is equally risky. If you are not alert or don’t have enough knowledge, you can lose all of your money in this fast-paced market.
Here’s a quick example that can help you understand how binary options work.
Let’s assume that the strike price of ABC company is $25 . Now, as a trader, you have to speculate whether the value of this company will increase or decrease before expiration. If your prediction is correct, you will win an attractive payout, but if not, you will lose all of your traded money.
Can you make real money with Binary Options?
Many people think that making money with binary options is not possible. But that’s not true. In reality, if you have a good knowledge of binary options, you can win a huge payout on your traded amount.
While the possibility of winning a better payout is more, you cannot overlook the chances of losing money in this market. But this thing doesn’t make binary options trading a scam.
It’s just that you should not see this market as an investment opportunity. It’s a trading market where you can make more money. If you don’t want to put your money at risk, try not to have any unrealistic expectations.
If you want to become one of those traders who have earned a fortune out of this trading market, you must follow the below-mentioned steps.
First things first, you must choose a broker. For this, you can check different sites, read the reviews, compare services, and then make a decision. After selecting a trusted broker, it’s time to choose an asset that you are most familiar with. You can, of course, choose a non-familiar asset, but it’s recommended to select a familiar one because then the risk of losing money decreases. Once you have selected the binary options broker and asset, you can choose an expiry time. Depending on the options, you can choose a time anywhere between 60 seconds to 1 year. When selecting the size of the trade, remember that if your predictions are not accurate, you will lose all the amount. Depending on your predictions, you can then pick the call or put options, i.e., buy or sell. At last, you can confirm the trade.
Can you really win after following all these steps? Well, it depends on your luck. If your speculations are correct and everything works in your favor, you can win a huge payout. Otherwise not.
While trading in binary options, try to have a proper trading knowledge of the market and asset, choose the right broker, choose the best expiry time, understand the trading options, learn about potential gains, place trades, and look for early exit opinions.
Why you should learn about different Options type.
Before you start trading binary options, it’s important to learn about different options types so that you can place slightly less risky trades.
Although learning about different trading types is essential, some traders are not so eager about it. They know about the easiest option type and stick to it through trading.
The issue with this trading technique is that while the risk gets limited, traders do not get the kind of payout that they deserve. Thus, it’s better to have a knowledge of the popular binary options type.
When you are familiar with different trading types, you get one step closer to becoming a professional trader. You earn a better profit, improve your skills and knowledge.
Discovering different trading Options.
#1 High/Low Binary Option.
Among the available options type, the high/low binary option is the best. That’s because it’s less risky and simple to understand. If you want to trade with this option, you should try to determine whether the price of the asset will go above or beyond the given value.
Once you have predicted the asset’s price movement, you can then place your trade before expiration. If your speculation is correct, you will win a huge payout, but if not, you might lose all the amount.
#2 Put/Call Binary Option.
Another trendy binary options type is the put or call. This one is similar to the high/low option and offers the same kind of payout.
#3 One-Touch Binary Option.
If you want to keep your trading simple and easy, you can use the one-touch binary option. In this trading type, you need to speculate whether the price of the selected asset will reach the predetermined value.
If you are 100% confident about the movement of an asset’s price, you should choose this trading type as it’s easy to use and yields more profit. But if you are not sure about the result, it’s better to avoid using this trading type.
#4 No-Touch Binary Option.
The no-touch binary option is the opposite of one-touch. In this trading type, traders need to speculate whether the value of a given asset will not reach the desired value. If your predictions are correct, you will get a huge payout once the option expires.
#5 Range Binary Option.
This kind of trading option is similar to the high/low option, but there is a difference. When choosing this binary opinions type, you need to determine the asset’s direction, upper and lower limits.
If the option expires within the speculated range, you will win a huge payout.
Lastly, the ladder binary options type is popular among traders. That’s because this trading type offers the best payout. This option acts like an ordinary ladder. Here, each rung of the ladder has a price limit.
By choosing this option, you get a shot at making a partial profit. Also, the expiry time of each price level is different. Although the ladder is a great trading tool, its generally used by professionals because the risk of losing money by using the ladder trading type is more.
Best Binary Options courses.
If you are passionate about binary options trading, it’s recommended to pick one of the best courses. When you enroll yourself in a binary options course, you will get a better idea of what binary options are.
Not just this, but you will also understand the reasons for trading in binary options. You will learn about different types of options and the advantages and disadvantages of trading.
Without any further ado, let’s check some of the best binary option s courses.
#1 Bitcoin Short Sell Trading & BTC Binary Options (2 Courses) (Udemy)
This course is offered by Saad T Hameed, one of the top instructors of Udemy. Through this course, he teaches his students about the tricks and techniques that can reduce the risk and increase profit.
He starts the course by highlighting the importance of binary options. Besides this, Hameed teaches how to exit and enter this trading market. In short, he teaches everything that can help you understand the binary options and cryptocurrency world.
Duration: 11 hours and 30 minutes.
Ratings: 4.3 out of 5.
This course material includes two articles and video lessons. You can find assignments at the end that will help you apply techniques that you have learned. This way, you can get a better idea.
#2 The Complete Options Trading Course (Updated 2021) (Udemy)
The second-best course on this list is also offered by one of the best tutors of Udemy. After completing this course, you can become the master of binary options trading.
This course is drawn by considering 14 trading strategies that are guided by technical analysis. After learning the strategy, you can reduce the risk of losing money and can increase your profitability.
This complete options course can also make you ready for upcoming market challenges. Lastly, this course also helps you understand how to read the trading chart and options quote correctly.
Duration: 9 hours
Rating: 4.1 out of 5
The highlight of this course is the options trading strategies. Along with this, the course also includes real-life examples and samples. With the help of this course, you can create a strong foundation. Along with high-quality video material, it also includes fifteen downloadable resources and three articles. While learning, if you have any doubts, you can get them cleared in the learning community. Lastly, you will get a certificate after completing this course.
#3 Binary Options Course For Beginners (Udemy)
If you have no idea about binary options trading but still want to try your luck in this market, you should start your journey by taking this course. This particular course is designed especially for beginners who wish to learn about multiple types of binary options.
Not just this, but the course can also help you discover the benefits of different trading types. And equip you with the proper knowledge so that you can choose the best brokers for trading.
So, if you are a beginner, professional stock trader, forex trader, or traditional options trader, this course will benefit you.
Duration: 1 hour and 7 minutes.
Rating: 4 out of 5
The prime highlight of this course is that it provides detailed information about brokers. Via this course, you can learn about quite a few trading techniques, strategies, and binary options alternatives. Along with video lessons, this course also includes documents and exciting links. At last, this course teaches how to trade call or out options.
#4 Binary Options Trading (Investopedia Academy)
Besides Udemy, another platform that you can trust for learning binary options is the Investopedia Academy. This particular course teaches how to manage risks when trading binary options.
Besides this, you can also learn about different types of trading indicators and how they can give you an edge in the fast-moving trading market.
Once you have enrolled yourself in the course, you will learn everything you need to know, starting from predicting volatility, decipher MACD, understand candlestick patterns, and analyze the Bollinger band.
Rating: 4.2 Out of 5
In this course, you can easily find exercises, content, and 40 videos. After enrolling and completing this course, you will get a certificate of enrollment. If you are a beginner, you must not choose it, but you should enroll yourself if you are an intermediate or professional trader. Also, this course can teach you the strategies of Max Ganik.
#5 Binary Options Strategies No More Loss (Skillshare)
This course discusses the fundamentals of binary options that you should definitely learn as a beginner. The best thing about this course is that you will get to watch real-life examples.
When you see such examples, you will learn how to apply the trading strategies in real-world trading. And once you have understood this, you can make profitable trades.
Duration: 3 hours and 45 minutes.
Rating: 4.5 out of 5
This course will teach you about different binary options trading strategies and how you can apply them to make real-life profits. You also get to work on projects that can help you get a better knowledge of trading.
How can you learn Binary Options?
One of the best ways to learn about the basics of binary options is by taking up one of the recommended courses of this post.
Besides this, you can sharpen your knowledge by doing a detailed analysis of the binary options world. You can learn about different market trends and assets used for training in this market.
What Options trading level should you choose as a beginner?
As a beginner, your trading level should be two. This level comes with a call and put option that you can use for placing a trade.
Once you get a better understanding and knowledge of the binary world, you can increase your trading level. Increasing level means that you are advancing your trades, which involves more profit and risk.
How to become an expert in Binary Options?
Every expert binary options trader once started as a beginner. So, if you are a beginner, that doesn’t mean you can never become a professional trader. To help you in doing so, we have listed some tips that you can follow.
Set goals that are realistic.
Binary options are a lucrative trading market that can help you win a massive amount of money. But this does not mean that you must set unrealistic expectations.
No matter how accurate your speculation is, do not expect something unrealistic out of it. That’s because doing this can bring down your confidence level.
To keep your expectations under control, you must do a good market analysis. Also, you should properly understand the asset that you want to trade. When you do this, you will get a better idea of the trading. And this way, you won’t expect more than you should.
Select your broker with care.
Another step to becoming a professional trader is to select your broker with care. When you search for a binary options broker, you will find multiple options. But that does not mean that you can trust every broker.
While some brokers are legal and regulated by trusted authorities, certain are blacklisted. So, you must choose a broker that has good reviews and ratings. Also, you should look for the kind of features that the broker offers.
Make sure that you don’t get swayed by bonuses because, in that case, the risk of losing money increases. Thus, always do better research and pick the best broker.
Take the help of technical indicators.
Technical indicators are designed for a reason. So, instead of avoiding them, make sure that you use them to the fullest. Indicators can help you get a better idea of the asset’s movement.
Also, they can help you read the trading charts in a better way. So, with all the information, you are likely to make a winning bet.
Practice makes perfect.
You cannot achieve perfection in your first week of trading. If you want to trade like a pro, never avoid practicing because practice is the key to perfection.
When you practice, you get to explore options that you don’t know about. If needed, you can also take advice from professional traders. It will give an edge to your skills and techniques.
Once you have understood a strategy, make sure you use it whenever you can. That’s because a mastered plan can take you one step closer to winning huge payouts.
After reading this informative guide, you will never complain about the binary option again. This guide gives a brief idea of what binary options are. Also, it tells how you can make real money with them and what are different options course.
The recommended courses can help you become a trading master in no time. You can enroll yourself in one of the courses you think is the best to uplift your career as a trader.
These courses will help you learn the basics of binary options and make you understand how you can use different trading indicators. Also, you can learn about trading charts, candlesticks, and various assets.
Lastly, while placing your trade, try not to get too excited because this market involves risk along with profit. Thus, you should use the amount of money that you can afford to lose without risking your financial freedom.
Is it a good idea to take up a managed Binary Options account?
Managed binary options account is a type of service that allows you to earn money even while you sleep. This type of account is not handled by any individual but is managed by a professional trader working under the name of a service provider or might be operating individually.
These traders who are handling your managed binary options account will oversee all the funds you deposit and take care of your investment portfolio. Binary options trading involves an optimal amount of risk that makes it difficult for beginners to crack through. Therefore, they wish to hire managed binary options service providers for assistance.
In this article, you will get a clear idea of how managed binary options account stands out in the crowd to help you earn a good profit out of this trading journey. But in the process, you should also keep in mind the crucial factors for safer trading.
What is a managed Binary Options account?
A managed binary options account is a general type of account that is owned by some individual trader. An experienced manager or trader manages and looks after this account. They are the trading advisors, master traders, and people with immense knowledge about this trading journey.
There are small businesses and individuals who intend to offer such services to the traders. The purpose of managed accounts is that they try to make meaningful investments for their clients. They keep track of all the investment strategies, risk management levels, and realistic goals while managing the account.
Perks of hiring managed Binary Options account.
A professional or a team of professionals take care of managed binary options account. Therefore, using this feature proficiency is pretty much easy for making profits on consistent practice.
The managed binary options account handlers possess some superior skills that are essential in order to help clients make profits. Those characteristics and trading traits include:
They possess a disciplined style of trading. It means that they do not deviate from the trading rules or plans in any situation. And that is what makes them believe in making more profits, even after incurring a loss. They have the skills to implement safe money management aspects. It means that they use the right trading strategy in order to manage your deposited funds and play within the profits without emptying your broker account. These managed binary options account systems or strategies have a high win ratio, as the professionals have their eyes on the price movement of select assets every second. They have high emotion management skills that help them stay in control, even where there is a high number of consecutive losses. It is all about believing in the strategy to back those losses with impeccable wins. They have the patience to stick to the right strategy, even if it fails for the first couple of times. They do not change the trading pattern or investment, as it might ruin the tactics. Hence, they are patient enough to control their adrenaline rush of investing big amounts to cover up the small losses. They do nothing that will give a surety of loss!
Features Of hiring a managed Binary Options account.
There are pretty much a lot of features and services that you get on taking up a managed binary options account. These features are the sole motivators for the traders to buckle up and hand over their trading journey to professional managers. The features are as follows:
You Get Professional Traders.
By taking up this service, you get a team of professional traders looking after your single or multiple trading accounts. You can be sure of the fact that your money is being under the supervision of experts and professionals. And they have the training to use effective and tested strategies only! Moreover, they also implement some sophisticated risk control aspects to reduce the loss potential over the account or trading journey.
The managed binary options account stands out in this aspect compared to the other general broker accounts. With such an account, you get an option to interact with professionals to know the whereabouts of their accounts. Hence, it is beneficial for the investor or trader to stay in touch with the providers and get updates for their trading account. For example, suppose the investor wants to get insight into the history of their trading journey with a managed account. In that case, they are free to interact with the professional traders who are managing their accounts.
Requirement Of Small Capital.
Managed binary options account for the demand for smaller capitals to commence with the services. Therefore, you do not have to store a large number of funds for the professionals to commence with your managed trading journey. It is because small businesses and individual account managers know the importance of transparency. Therefore, you can always start with small capital and gradually increase only if you feel to.
Most of the professional service providers for managed binary options accounts wish to offer scope for liquid accounts. It means that some of such service providers allow withdrawal flexibility and privileges to their clients. Moreover, it is profitable for the clients to have uncontrolled access to their own funds, both capital & profits. Hence, it is an optimal service to try on!
When you are handing over your binary options trading journey in the hand of managers or professional traders, you need to make sure that they are legit in offering services. So, you need to do some background research until you are satisfied. It is because there are fake companies that get hold of accounts of clients and take the funds to their name and gallop away.
Many such cases are recorded so far across the globe. But it is the fault of the client to trust some brand without any background information. The fraudsters are only successful because people aren’t smart. So, do your background check and hire the best managed binary options account provider.
What is High-Frequency Forex Trading?
The transformation of one type of currency into another currency is called Forex or Foreign Exchange. It is one of the most traded financial derivatives in the world. The trading volume in forex is average $5 trillion to $7 trillion .
History of Foreign Exchange trading.
The practice of forex trading has been performed since the ancient period. The people used to change their currencies whenever they visited another place. Different rulers had different forms and types of currencies, which were not acceptable in other emperors’ states.
Therefore, the concept of changing the currencies arose. At that time, usually, goldsmiths and silversmiths were the ones exchanging them.
Later in the 15th century, the banks started to operate. And it soon became the place for the currency exchange. In no time, forex markets started to operate.
The modern forex market is considered to have started around 1850 when international trade was flowing, and the currency exchange was very popular. This led to the development, and eventually, during the 1970s, we got a perfectly active and functional foreign exchange market.
What is High-Frequency trading?
High-frequency trading or HFT is basically trading based on algorithms. This means it is that bundle of rules and formulas which are to be followed in order to get the answers in computations.
Characteristics of High-Frequency trading.
Following are the main features of HFT-
A large number of transactions. Trade executions are super-fast. The term of investment scope is very short. Rapid cancellation of the orders. Slim profit margins. At the end of the day, the positions of the traders are closed.
High-frequency trading is way too multifaceted the normal trading. And to achieve high-speed transactions, a particular kind of computer is used.
These special computers use algorithms to examine the upcoming new market trends in fractions of seconds.
Advantages of High-Frequency trading.
The algorithm or the process which makes these complicated trading possible allows the traders to take benefits like-
Even from the slight price movement, the traders can make extra profits and returns, which are not possible in the case of ordinary trading.
HFT allows the investor to evaluate more exchanges, markets, and other financial derivatives. It gives you more options and openings for trades.
It is studied that the HFT is capable of increasing the market liquidity. With the high-speed transactions, the volume of the trades also rises, and this further results in the growth of market competition. This makes the liquidity and market more effectively.
Reduces the Risk.
Trading is all about taking high risks. But with HFT, the risks are minimized. With high liquidity, the risk is reduced. This happens because, during a trade, another party will be present on your opposite side. In addition to this, the price at which the buyer and seller want to trade becomes more desirable.
The Remaining Risk Can Be Alleviated as Well.
You can use the stop-loss order, which will prevent you from incurring more losses. Also, there are certain strategies and techniques through which you can lessen the extra risk.
What is High-Frequency Forex trading?
The high-frequency forex market is when the HFT is applied to the foreign exchange market. When the forex trading market uses the algorithms or applies the rules in order to forecast the market trend, it is called high-frequency forex . It came into existence in 2005 .
How do you Forex High Frequencies?
The advent of high-tech systems and technologies has taken over the exchange market as well. Through these systems, such computers and types of machinery were built, which can help to solve even the toughest algorithm.
High-frequency forex trading can be said to be a substitute for the private mentors, which help and assist the traders in forming a better judgment of the market.
The HFT in forex works through algorithms that evaluate the whole market trend, its data and assist in predicting the future of the asset with the help of some indicators.
The operation of high-frequency forex trading depends on the algorithms, so it becomes important to understand the basics, types, and functions of these sets of rules.
Algorithms are those rules which are made to achieve a task. It could be for calculation purposes or for trend analysis. They are formed on the basis of quantity, the timing of the trade, etc.
The algorithms are classified into four classes-
Direct Market Access
This algorithm allows the traders to use different or multiple trading platforms.
A set of rules are formed to achieve a certain task. It could be for fast transactions, reducing loss, or any other as per the need of the programmer.
Hedging is the strategy that is used for reducing the risk. The auto-hedging algorithm is made so that the potential loss can be stopped.
This type of algorithm studies the previous data and based on that, provide the profit openings.
It is to be noted that all high-frequency trading networks use the algorithms, but it is not necessary that all algorithm trading is based on the HFT.
Role of algorithm in High-Frequency Forex trading.
High-frequency trading can use all these kinds of algorithms to achieve a high volume of trades with risk management strategies.
The use of such algorithms has reduced the time required in forex trading and has built a strong base for future trading scenarios. This has also led to a reduction in the costs of trade executions.
Ordinary forex trading is less effective and competent in comparison to forex HFT because of the latter works on the prearranged conditions of the trades.
The algorithms are very helpful in the speculative trading since it has the ability to construe the marketing data and execute the trade quickly. Also, it makes the cost of the contract less and efficient.
Banks and algorithms.
Some banks have started to adopt the concept of algorithms because it helps in maintaining the quantity of the currency sold by the bank and bought by a trader . This decreases the risk of occupying the currency.
How to get algorithms?
The use of the algorithm is limited up to large companies because this system is not something you can get at an affordable price, and hence not everyone has the resources to use this.
If you are not a programmer or do not know how to make one, the best option is to buy good software from an authentic source. One thing to keep in mind is that you cannot go with bargaining here. If you want to get one, take the most reliable software.
Cheap and bargained software are not always authentic, and it might be just a scam. Invest more to get a better and dedicated algorithm that can provide real benefits.
The rates can be weekly, monthly, or yearly. The basic version starts at $5000 per month and can go up to $10,000 to $25,000 per month.
Is there any risk involved in algorithmic Forex HFT?
With every pro comes to the con, and here as well, there are some risk factors associated with this concept.
Imbalance in Algorithms
The technology difference can cause unevenness in liquidity. Since some traders have the provisions to use highly advanced algorithms, they can execute trades quickly and can predict the future much accurately.
However, others do not have such resources, and hence, this causes an imbalance in algorithms resulting in fluctuation in the market and its liquidity.
The algorithms react to the market trend quickly. Therefore, in the case of a volatile market, the algorithms cause the bid-ask spreads to amplify, which can stop the trading and affects the market liquidity.
One Misbehaved Algorithm Can Lead to Loss.
It is now evident that the algorithms work in a very swift way, and many investors rely on them for their success. This implies that even a slight mistake in algorithms can cause the loss of millions in few seconds.
How to trade High-Frequency Forex?
You can start executing your trades in HFT after following the training guide provided here:
#Step 1 – the first step is to find a suitable broker who serves the HFT. Not every broker has the facility of high-frequency trading. #Step 2 – if you are new to the brokerage firm, learn and grasp the functionality of the trading terminal. Make sure you check all the features and tools related to it. #Step 3 – get your software or the algorithm. Many brokers provide the facility, and you can purchase directly from them. You also have to buy the APIs that are the application programming interfaces. The role of API is to simplify the communication system between the software and the traders. #Step 4 – start trading. After getting all the things done, you can finally start to execute your trades. Remember, do not trade without grasping the concept of HFT. They sure provide benefits, but one wrong step can make you suffer losses.
Is High-Frequency Forex profitable?
The general perception is that the fast and quick any trade execution will, the more profit will be generated. So, in affirmation, we can say that the HFT in forex is profitable .
In HFT, algorithms perform their magic and execute the trade within seconds. And because of this, even a minor price change can result in profit.
It also cancels out the small bid-ask spreads and increases the liquidity in the market. And this has already profited many companies. In addition to these, high-frequency trading is also said to have a large turnover ratio.
What is the difference between Forex and High-Frequency Forex?
The difference between these two types of trading is the use of algorithms. One uses the manual or ordinary form of trading while the other one is advanced and involves high computation.
Let us understand forex and high-frequency trading for better comprehension.
#1 Forex Trading.
Forex or foreign exchange trading is the buying or selling of currencies. Also called FX trading, it is the conversion of one type of currency into another.
Forex Trading is when the traders buy and sell currencies at a set price. Through this means, the banks, investors, and other companies or industries transform the currencies which make traveling in other countries possible.
How does FX Market Really Work?
The trading of currencies takes place absolutely between the buyer and the seller. These are the two parties to the contract. Other financial derivatives like commodities or stocks are conducted on the exchange market. But not the forex.
The grid of forex covers the main four trading markets around the globe. they are-
New York Exchange Sydney Exchange Tokyo Exchange London Exchange.
And because the activity times when these markets operate are different, the currency can be traded 24 hours a day.
How Foreign Exchange market fluctuates?
Forex trading is the buying and selling of currencies from all around the world. Many external and internal factors can cause movements in these currencies like the demand and supply, market gush, financial news or event, the central banks, etc.
Types of FX Market.
The foreign exchange market has three types-
Spot Forex market
Also known as foreign exchange spot transaction, it is that contract of buying and selling of currency that is made at the current rate. It is done ‘on the spot’ that is when the trade is established.
Forward Forex Market
This type talks about the buying or selling of currency at future dates. The forward FX market is that contract in which both the parties agree to trade the currency at the settled price in the upcoming future dates.
Future Forex Marketing.
In this contract, the time, date, and contract size are pre-determined. The buyers and sellers have to make the trade according to that agreement. This is more binding in nature.
Advantages of Forex trading.
Easy to trade.
Even a beginner can trade the forex market with ease after learning a few basic aspects of trading and the platform in use.
Forex has high liquidity because the foreign exchange market is huge and consists of many active traders. This makes the manipulation of prices difficult.
They are Independent.
Forex market is not related to other financial derivatives, meaning thereby that any event fluctuating the price of stocks or commodities will not affect the currencies.
Disadvantages of Forex trading.
No Regulatory Authority.
There is a lack of regulatory institutions which can govern the working of foreign exchange. This makes the brokerage firms to take over. Hence, making the market less transparent.
Price Remains Uncertain
The movement and variations in prices can happen due to many reasons and factors. One of them is international and economical politics which makes the process of determining price complex and uncertain.
More leverage implies that you can get more profits as compared to your trading amount. This applies in the case of losses as well. There is always a risk of losing more than your investment.
The way out of this risk is to trade the leverage carefully and manage your money accordingly.
#2 High-Frequency Forex trading.
The use of high frequency has immensely risen in the forex market. The forex HFT is based purely on the use of algorithms. In fractions of seconds, say milliseconds, the trades can be performed. It permits you to use and scan different markets altogether.
HFT in foreign exchange is all about analyzing the market trend and execution of contracts based on that, which increases the volume of trade. As stated earlier, the algorithms are of various types, and the right use of them can generate profits for you.
Advantages of High-Frequency Forex trading.
The HFT in forex helps to increase the market liquidity, and this makes the flow of money much smooth and fast. It also makes the spreads stiffer timed with a decrease in the arbitrage.
The profits are made from the small movements and fluctuations in the market. This ensures that you will get your fair share of the amount even if there is a big market event. And lastly, with very little effort and examination, you can get steady profits because the algorithms are working for you.
Disadvantages of High-Frequency Forex trading.
The use of algorithms is mostly done by large companies and industries. This is so because the system and programming of these algorithms are expensive, and if you are not a programmer yourself, it is hard to get such a service. Hence, the biggest drawback is that not everyone can afford to use this system.
Moreover, they often make the market more volatile and increase the chances of flash crashes.
Which is better: Forex trading or High-Frequency Forex trading?
Both forex and high-frequency forex have their benefits and downsides. You can trade the forex 24 hours, and they fluctuate only when some political, economic, or other factor directly impacts it.
You can get some help in analyzing the market with much better accuracy with high-frequency trading. This is because HFT programs are made in such a way to study the data so that you can make profits with little movement also.
Forex trading has its risks which can be minimized by the use of algorithms. But even if you do not have any such system, with proper management and understanding, the currencies can be traded effectively.
In comparison, it would not be fair to pick the one as they are not basically different concepts. High-frequency forex is an overstated form of forex trading and is made only to improve the FX trading experience.
The use of algorithms in the trading market is becoming an investor’s favorite. High-frequency forex trading is helpful in many aspects and gives a high return if used properly.
The use of HFT is also helping in making the market more transparent. In addition, the different types of algorithms like statistical, auto hedging, etc., can detect any abnormality in the price, which further creates more opportunities for you to gain profit.
However, high-frequency forex trading has high risks too. However, these can be surmounted by the use of effective strategies which can prevent you from suffering high losses. Hence, the use of algorithms should be done with more caution then only you can reap the benefits.
The 5 best Binary Options brokers in Sri Lanka: Comparison and reviews.
Binary Options trading in Sri Lanka has emerged as one of the popular markets in the country and is best for people who what to earn better profits from their investments. However, suppose you are entering this market for the first time. In that case, you need to understand everything about the Sri Lanka financial market as well as brokers to begin trading without any hassle. And here you can explore those things. Keep reading to know more.
Exploring the 5 best Binary Options brokers in Sri Lanka.
One of the most popular and widely used platforms in Sri Lanka for binary options trading is Quotex. Founded in the year 2020, this registered and licensed online broker offers market signals as well as simulates trading on a well-designed and custom web-based platform.
Speaking more about this, the broker is a registered trademark of Awesomo Ltd, and the company is located in Seychelles. As per the information mentioned on the official site, this broker is regulated by the IFMRRC- International Financial Markets Relations Regulation Center. It became a fully licensed broker in November 2020.
Just like other Sri Lanka binary options brokers, this platform also utilizes an easy-to-understand yet powerful web-based trading platform. The traders can enjoy a smooth and safe trading experience by using its Meta Trader 4 or MT4 platform.
Speaking about its withdrawal, bonuses, and deposit, you can start using this platform by depositing only USD 5. However, sometimes, it may require you to deposit USD 10. You can deposit in euros, Bitcoin, pounds, or in dollars. This can be done using wire transfer, e-wallet, credit card, and more.
To help the new traders to trade confidently, this binary options broker offers free tools and other useful trading resources. You can trade in metals, stocks, cryptocurrencies, oil & gas, currencies, and more. So, visit the official site of Quotex and give it a try.
#2 IQ Option.
Introduced in the year 2013, IQ Option has become of the trusted and largest brokers in the binary options trading market. Equipped with the latest trading technologies and other amazing features, the broker has made the platform much easier for all Sri Lankan traders.
This online trading platform supports multiple financial instruments, for example, Forex, CFD platform, Binary Options, and more. Besides, it also has a demo account for all the traders. Using this, one can easily try out different trading strategies, and they can get familiar with the features of IQ Option.
You can make deposits using your debit or credit card. It also supports other deposit options such as WebMoney, Skrill, Cryptocurrencies, Neteller, and more. If you are facing any issue while depositing, then you can get in touch with the account manager for instant solutions.
In terms of available trading options, this platform can offer you the opportunity to trade in more than 300 assets. Some of the major assets that you can use are metal, crude oils, gold, crypt, forex, binary options, and more.
#3 Olymp Trade.
Another trusted broker to enjoy Sri Lanka binary options trading is Olymp Trade. It is also leading forex and fixed time broker and clients from all over the world. As per the official site, the broker follows the trading regulations of the IFC-International Financial Commission.
The company utilizes its own advanced, user-friendly, and modern binary options trading platform to offers the maximum level of security to the traders. When you use it, you will find that the platform is ideal for both beginners and professional binary options traders.
Every day, more than 25000 traders use this platform, and its average monthly turnover is more than USD 175 million. Speaking about its payout, it claims to offers around 70 percent to 90 percent payout to the traders.
On the other hand, Olymp Trade also offers quality and updated educational materials on different types of trading and strategies, helping both experienced and new traders. You can go through the materials available for indicators to explore more things about fixed-time trading.
Established by Dolphin Corp, the Binomo trading platform is quite popular for its low-trade requirements and amazing trading features that it offers to both veteran and new binary options traders.
While primarily focusing on its valuable clients, the broker is constantly upgrading the web-based trading platform by deploying advanced digital trading technologies. Traders from around 133 countries across the world are now using Binomo.
Till now, the platform has witnessed more than 30,00,000 trades, and its daily active traders’ number is more than 880,400. In terms of regulations, the official site says that it is regulated by the IFC and is listed in the list of Category A traders.
On the other hand, Binomo also has received a certification from the FMMC, and in case of any issue, you can get 20,000 Euros as compensation. To keep your sensitive or personal data protected from hackers, it follows SSL protocols.
The new platform has various on-point features and can make the process smooth for a beginner. The platform offers more than 50 different assets that can be traded by traders once they signed up. You can explore different assets and markets.
As per the experts, the platform has specialized in high/low trading. Some of the major assets that you can choose for trading on Binomo are leading equities, indices, and currency pairings.
#5 Pocket Option.
This binary options broker started offering its services in the year 2017. Its registered office is located in the Marshall Islands. Since its introduction in the market, the platform has been growing rapidly.
Pocket Option provides its traders with different exceptional features to make their binary options trading journey smooth and profitable. Within a few months, the platform managed to create a huge trader base.
When it comes to binary options trading, you should use a licensed and regulated broker. That proves the platform’s safety and credibility. While using Pocket Option, you don’t have to worry about that is it is regulated by the International Financial Market Relation Regulation Center.
Once you signed up, you can get instant access to different stocks, commodities, cryptocurrencies, and currency pairs. On the other hand, binary options are available to traders with a decent yield of more than 90 percent.
Just like other brokers, it also offers a demo account with USD 10,000 of demo money. Using this, you can explore all the important features of the platform and can also test your trading strategies.
Pocket Option’s minimum deposit requirement is USD 50, and you can start trading at USD 1. There are no fees for deposit and withdrawal. It also offers some amazing benefits, such as indicators, financial, educational supports, cash backs, bonuses, and more.
What is a Binary Options broker in Sri Lanka?
Choosing the most trusted binary options brokers in Sri Lanka is not an easy task. While the Sri Lankan authority has banned local binary options brokers from functioning in the country, people can still enjoy the trading by choosing an offshore broker.
The best thing is that there are multiple reliable brokers to pick from; all you need to pick the right one. You can always choose the above-mentioned brokers based on your preferences or requirements. These platforms are legally registered and all regulated by well-known regulators.
The CBSL- Central Bank of Sri Lanka is the regulatory board that controls the country’s financial market. On the other hand, the SEC- Security Exchange Commission of Sri Lanka deals with the stock and trading market.
The authority has provisions that prohibit the trading of speculative assets with brokers located in the country. So, you can only trade by creating an account with any registered offshore binary options brokers.
Financial regulation in Sri Lanka.
As per the latest report, the regulation of Sri Lanka’s financial markets is performed by the SEC and the CBSL. Some market experts have informed that all the trading activities that involve sending of exchange to entities and companies outside of the country for individual trading purposes are now allowed by the law.
The CBSL has also characterized the companies it referenced in its new circular, defining them as proprietary and companies concerns that utilize agents and employees to send out calls or adverts to the public to pre-sell with the process of a better return.
However, only the registered corporate entities are permitted to offer binary options and forex trading facilities with offshore institutions. Besides, they also need to function by following the rules and regulations set by the CBSL. It may be noted that retail trading is strictly prohibited in this country.
As discussed above, CBSL controls all the financial institutions, for example, licensed finance companies, banks, microfinance companies, and leasing companies. On the other hand, the IRC- Insurance Regulatory Commission of Sri Lanka controls the insurance companies.
The capital market, stockbrokers, market intermediaries, and exchanges are supervised by the SEC- Security and Exchange Commission of Sri Lanka. So, while choosing a binary options broker, you need to make sure that the broker follows the rules issued by this board.
Features of the platforms.
This digital options trading platform offers different types of assets to traders so that they can increase their chances of winning a trade. It is super easy to use and highly secured. Some major features of Quotex are:
Traders can enjoy welcome or deposit bonuses. It offers a demo account. You can start using it by depositing just USD 5. The payout percentage is quite good, around 98 percent.
#2 IQ Option.
When it comes to enjoying a faster trading experience, you can always trust IQ Option. It supports stocks, indices, cryptocurrencies, commodities, and more. It also offers trading materials to all the traders. Some key features to consider are:
Here the minimum trade amount is USD 1. It is regulated by CYSEC, FCA, and MiFID. You can use this platform on Mac & Windows OS, iOS, and Android. You can also trade during weekends.
#3 Olymp Trade.
This platform is quite popular for its amazing features and attractive bonuses. Just sign up, and you can start trading instantly with its easy-to-use interface. It is 100 percent safe to use. Talking about some of its useful features:
It supports stocks, commissions, commodities, spreads, ETFs, forex, and more. It is a registered platform and is regulated by ASIC, FCA, and CYSEC. When you open a demo account, you will get 10,000 euros of virtual money. It also has a mobile app.
It has some lucrative features, and the traders can begin trading by just depositing just USD 10. The web-based platform is very easy to use, and it is SSL encrypted. Some features to remember are:
You can trade in 60 different assets. Payouts are good, and the trading process is very fast. You will get a demo account with USD 10,000 of virtual cash. Just spend USD 1, and you can start trading.
#5 Pocket Option.
This simple yet powerful platform is one of the reputed binary option trading brokers that offer various assets to trade-in. Some key features of this platform are:
It offers a faster withdrawal process. You can earn more by participating in different trade tournaments. It offers more than 130 assets.
Its mobile app comes with an easy-to-use interface and has all the features you will find on the web-based platform. It functions faster and can send you instant notifications about the price change.
#2 IQ Option.
The interface of the app is very clean, and you can easily use it without any issue. You can trade in all the available assets and commodities on the go.
#3 Olymp Trade.
The trading app is available for both iOS and Android users. The traders can easily track the market as well as execute trades within a few seconds using the app.
Binomo’s app can be used to access all the functionalities so that you can enjoy a smooth trading experience. You can use this on your Android as well as iOS devices.
#5 Pocket Option.
By using its mobile app, you can get an accurate quote and can trade anytime you want as per your convenience. The user interface is very simple.
Services for Sri Lankan traders.
It offers more than 400 trading tools. The sign-up process is very easy, and you can practice trading using its demo account. You can use the online guide to learn to trade. The minimum deposit amount is very low.
#2 IQ Option.
More than 90 assets, such as currency pairs, stocks, and more. Indicators FX options Online webinars and expert’s advice.
#3 Olymp Trade.
Trade on indices, currencies, commodities, stocks, and more Faster withdrawal and deposit Best in class brokerage services Deposit bonuses.
More than 100 assets In terms of the time limit, it can range up to 4 hours. You can also enjoy low and high trading. SLL encrypted trading platform.
#5 Pocket Option.
Faster binary option trading Offers an easy-to-use demo account with virtual cash Provides the traders with online trading resources.
To use this platform, you need to make a minimum deposit of USD 10.
#2 IQ Option.
Just deposit USD 10, and you can start trading binary options using IQ Option.
#3 Olymp Trade.
Just like other online brokers, Olymp Trade also requires the traders to make a minimum deposit of USD 10 to begin options trading.
To begin your trading journey using Binomo, you will have to make a USD 10 minimum deposit.
#5 Pocket Option.
Here the minimum deposit amount is a little high. It requires you to deposit USD 50.
The minimum withdrawal amount is USD 10, and the process can take around one to five business days. However, sometimes, you can get the money within 48 hours.
#2 IQ Option.
It can take up to 10 days. However, if you are using an e-wallet, the broker can transfer the amount within two days.
#3 Olymp Trade.
Even though it guarantees a same-day withdrawal facility, it can also take up to 3 days. The process will be initiated immediately.
The entire process will get completed in under three days. There are no withdrawal charges.
#5 Pocket Option.
You are only allowed to withdraw only USD 10. And in some cases, it may charge an extra fee for currency conversions.
The support team is available 24×7, and you can expect instant solutions from the team.
#2 IQ Option.
You can get in touch with the team through call, live chat, or email. They respond quite faster than other brokers.
#3 Olymp Trade.
If you have any doubts, you can solve that immediately using their live chat, call, and email support.
Even though they have a fast live chat system, you can also use their email support system to resolve your issues.
#5 Pocket Option.
No matter what the time is, you can get in touch with the support team using their toll-free number, email address, or live chat system.
Binary Options trading in Sri Lanka has gains popularity among Sri Lankan traders. And these platforms are now helping them to fulfill their trading appetite. All these brokers are registered and trusted. With their amazing features and trading tools, they have greatly simplified the binary options trading process. This form of trading is quite profitable, and by using these platforms, you can enjoy great profits. Give them a try.
The 5 best Binary Options brokers in Malaysia – Comparison and reviews.
Malaysia holds the title of being one of the top 10 trading nations across the globe. The diversity of the country sets it up in a thriving position. Malaysia has a population of different stature. And people of this country are keen to invest and earn a good fortune. This is why Malaysia also has the most advanced internet services across the globe. Moreover, the country has the best data systems in all of Asia and is in top positions across the globe.
All of the citizens of modern Malaysia are quite comfortable in trading binary options. A large amount of the population has a decent income, and they readily invest in trading. Binary options trading is quite popular among the young population of the country. The young population wants to adapt to the fast-paced trading journey, and the dedicated brokers make it accessible from mobile phones.
A broker platform is an important consideration for binary options traders across the country. It is because the powerful features and services of the right binary options broker Malaysia will help you enhance your profitability. The tool, features, bonuses, and additional services are accountable for strengthening your trading portfolio. Therefore, this guide will provide you with a complete elaboration about the five best binary options broker platforms that are offering their services to Malaysian traders.
List of the 5 best Binary Options brokers in Malaysia.
Quotex.io is the platform of the future. It came into existence in 2020 and has gained immense popularity since then. The best part of this platform is that it offers market signals to the traders for determining accurate predictions. Quotex.io is the by-product of Awesomo Ltd. It operates under the regulations of IFMRRC.
The payment options are limited to cryptocurrencies for the traders of Canada, the USA, Germany, and Hong Kong. It offers you a maximum payout of up to 100%, which is a commendable figure. But the payout percentage might vary, depending upon the asset type, its liquidity, and market performance. The broker platform doesn’t offer MT4 & MT5 platforms.
You get to pick the expiry duration between 60 seconds to 4 hours. Also, you can fine-tune the price graph to see even the fluctuation in a matter of seconds. You get the analyst recommendations regarding price direction, duration, and asset choice, to help streamline the profit potential. Clients also get favors by adapting to trading customization.
#2 IQ Option.
IQ Option is the platform of 2013 and is regulated by CySEC, which proves its genuineness for offering the services. It is an ideal platform that is dedicated to the purpose of CFD and binary options trading. Also, it has a humongous portfolio of different financial products that gives a plethora of options to choose from the list. Moreover, IQ Option has received several awards, which makes it reputed and popular across the globe.
It is one of the best binary options broker Malaysia , which offers you a maximum payout of up to 95%. Just like any other platform, the payout rate varies depending upon the asset’s performance in the market. You get a considerable amount of trading tools in order to help you determine the prediction accuracy. In fact, you can leverage the potential of technical indicators to identify the price movement pattern of a selected asset and predict it.
IQ Option is available for traders in 13 languages. If the Malaysian traders prefer to toggle between the preferred languages, they are free to do so! With that, you also get multi-chart layouts, economic calendars, historical quotes, stock screeners, market updates, and volatility alerts. All of these features are to intend an accuracy in trade prediction. The interface is outstanding and easy to navigate, even for beginners.
#3 Olymp Trade.
Olymp Trade is one of the several modern-day platforms that introduced the concept of binary options trading to most of the unaware trading aspirants. This platform is ideal, not just for the small investors, but has outstanding features for the professionals as well. Furthermore, Olymp trade offers a wide range of financial instruments from different markets.
Olymp Trade, being the best binary options broker in Malaysia , has set up diverse payment options for traders. The platform has considered the convenience of all the binary options traders. You can also deposit your Bitcoin on this platform in order to commence with your binary options trading in Malaysia. Olymp Trade holds the title for being the best financial broker at CPA Life Awards in 2017.
The interface being offered by Olymp Trade is quite prominent and easy to use. This platform has excellent usability for both beginners as well as experienced traders. It has records for holding a high amount of daily users, which is a sign of efficacy for the brand. The platform is clean and has organized links to features offered by the broker. It operates under the regulation of CySEC and offers a maximum payout of up to 90%.
Binomo is yet another popular binary options broker in Malaysia that operates under the regulation of CySEC and IFMRRC. This platform has directed its major focus towards short-term trades. In fact, the design of this platform replicates a streamlined and organized trading platform to meet the purpose. Earlier, Binomo was more of a package solution, but now it has evolved to be a completely proprietary design for offering online trading services to traders across the globe.
Binomo is home to advanced technologies and tools for traders to make determined and confident predictions. Also, Binomo offers diverse payment methods in order to help Malaysian traders find ease in making ideal transactions. The creators of the Binomo platform look after enhancing the existing features and services on priority. It is to ensure that the traders continue to get the ease of binary options trading from the platform at all times.
You get a maximum of 90% payout over the platform for successful traders. Binomo offers optimal asset coverage measures to ensure that your capital is safe within the account. The experts behind the operation of this platform make sure to keep it safe from different malicious hacking attempts.
#5 Pocket Option.
Pocket Option is the last in this list but is not least than any of the above options. It operates under the regulation of IFMRRC and has a great name in the industry for its bonus features. You can get up to 92% of the maximum payout over this platform. You get to go with high/low or turbo trade, depending upon your priorities over this platform.
Furthermore, Pocket Option allows you to commence with social trading features for better profits. Unlike most of the other trading platforms, Pocket Option offers only one trading account type to all Malaysian traders. It is to keep the trading journey uniform for both beginners as well as professionals. The amount of deposit that one can make is a sole decision of the traders, but there is no categorization of traders as standard or VIP.
You can set the trading expiry between the ranges of 60 seconds to 4 hours. Pocket Option also holds the regulation licensing of CySEC and MiFID, which adds to its genuineness within the industry. The security aspects for the traders’ capital are high within the platform. Pocket Option might not have the highest grip over the market, but it is still a popular binary options broker in Malaysia , with impeccable features.
What is a Binary Options broker in Malaysia?
Binary options brokers in Malaysia are the hubs through which the traders can place their bets on the price movement of selected assets. These broker platforms are responsible for placing the bets over the market, showing real-time updates, giving the results, adding the profit, and deducting the losses. Therefore, it becomes really important for Malaysian traders to make all the considerations before choosing a broker.
Malaysian Central Bank and Financial Markets Financial Association of Malaysia (FMAM) are the financial regulatory authorities that look after the regulation of financial activities across Malaysia. There are no local binary options brokers in Malaysia, for which the traders need to rely on offshore brokers to get their binary options trading services. Consider the international regulations and licensing of the selected brokers, and validate them before you make the final decision.
Financial regulation in Malaysia.
All of the OTC derivatives, including binary options trading offered by Malaysian companies, need a license from the regulatory authorities in order to operate seamlessly. But, as of now, there are no companies that have registered to the Securities Commission and FMAM for a binary options broker license. Therefore, the traders are relying on offshore brokers to trade binary options.
The recognition of binary options as OTC Derivatives is recent. Until 2011, the only OTC derivatives exchange recognized was the local Kuala Lumpur Commodities Exchange. With the recognition of the popularity in association with binary options trading, the authorities decided to upgrade their laws in order to regulate the money remitting aspects from the offshore brokers to the country.
Features of the platforms.
Quotex.io is one of the best digital options platforms that offer you trading potential on over 400 assets. You get to trade commodities, forex S&P500 Indices, and securities. Quotex.io is a web-based binary options trading platform that doesn’t demand you to download any application for the same. Some of the key features for Quotex.io are:
You get access to the demo account of Quotex.io after you sign-up for it. You can practice your skills and strategies before you invest in a live trading account. The minimum deposit that you need to do over Quotex.io is $5. You get a maximum payout of up to 100% that varies depending upon the asset type and its liquidity. Also, you get the deposit bonus to kick start your binary options trading journey. You get a copy trading feature to duplicate the trading pattern of top traders within the platform. Further, you get over 15 drawing tools to help you streamline the trading practices.
#2 IQ Option.
IQ Options offer you the potential to trade with Indices, Commodities, Cryptocurrencies, ETFs, and stocks. This platform has numerous awards to its name and projects some intuitive features to help the traders enjoy a seamless trading experience. Some of the key features that make this platform one of the worthy picks are:
CySEC regulation makes it stand out with a legal license and genuine feature implementations. IQ Options allow you to trade with binary contracts on weekends as well. Unlike other broker platforms that halt their services on Saturdays and Sundays, IQ Option allows you to earn money on those days of the week. You get 19 standard options to trade on weekdays and 8 standard options to trade on weekends. You get to choose from a total of 60 binary options for trading over the platform.
#3 Olymp Trade.
Olymp Trade has earned its name in the market for its easy-to-use interface. Moreover, it has numerous binary options to trade with. In addition to that, the customer service is outstanding with assured assistance. It has a clean & well-organized platform that features crisp charts, links to features, and other assistive tools.
The demo account assists beginners in helping them learn the trading format. You get to trade with Spread & Commissions, ETFs, Stocks, Cryptocurrencies, Currencies, and Commodities. It offers you impeccable trading tools and market signals to help you determine accurate trade predictions.
The strong point of Binomo is that it offers low trade options for beginner and professional traders. It assists you with the exploration of the global market over the dedicated mobile application. Some of the key features of Binomo are:
This platform allows you to support quick trading. When you sign in, you gain access to the demo accounts for strategy testing and skill utilization. You get virtual cash of around $1000 to trade over the demo account.
#5 Pocket Option.
Pocket Option is yet another binary options broker in Malaysia , which is best for both beginners as well as professionals over the app. You get over 130 assets to trade over this platform. Some of the key features for the same are as follows:
You get an instant deposit to your broker account. The withdrawal takes only one business day to credit in your bank account. It supports social trading that allows the traders to check other traders and their investment patterns. The trading tournaments are organized in order to ensure higher profits to the traders. You get indicator tools to determine better accuracy on binary options trading. You get a deposit bonus of 50% on all deposits above $50.
Quotex.io is a web-only interface and doesn’t have a mobile application for the same. The traders have to log in to the web platform to sign-up or access their accounts. The web interface is optimized for mobile devices as well, so it won’t be a problem for Malaysian traders to use it on the go.
#2 IQ Option.
IQ Option does have a mobile trading platform that allows the traders to leverage the potential of this platform on the go. The mobile app is accessible on both Android as well as iOS devices. The app is well-optimized in order to help you access the features seamlessly.
#3 Olymp Trade.
Olymp Trade came into existence with both web and mobile platforms. You get a mobile application with all of the features listed in separate categories. It intends to help the traders make some quick trades while they are on the go. Hence, you can conclude that the mobile app of Olymp Trade stands out in the crowd.
Binomo is yet another popular trading platform that comes with a mobile app for ideal trading practices. The mobile app has dedicated guide sections to help the traders make knowledgeable trades. The apps are compatible with both Android and iOS devices.
#5 Pocket Option.
Pocket Option has a mobile app with a prominent price graph that has different indications or marking options for the traders’ reference. You get both web and mobile app-based platforms to trade with. You need to decide and pick one option.
Services for Malaysian traders.
Quotex.io is dedicated to modern traders, and the services offered within the platform are:
You get over 400 assets to trade. You get fast withdrawals. There is no such transaction fee by the platform. It offers deposit bonuses for a certain fixed deposit amount, as per the policies.
#2 IQ Option.
IQ Option is the leading binary options broker in Malaysia , which offers quite important services to streamline binary options trading on priority. The services are:
You get technical indicators for your assistance. You get to leverage the potential of position top-up. The traders can place their bets on over 90 assets. FX Options are available for you. The platform accepts payment from 12 cryptocurrencies.
#3 Olymp Trade.
Apart from just the easy-to-use interface and powerful application, there are some services that Olymp Trade has to offer on priority:
The interface of the application is customizable. The stocks, commodities, indices, cryptocurrencies, and currencies for trading in. You get a superior brokerage service. You do not have to pay any additional cost for deposit and withdrawal of capital and profit.
The specialization of this platform stands with low trading aspects. But, apart from that, you have a lot of other services to consider over the platform, which includes:
You get a quick trading feature. There are over 60 assets for you to trade with. You get push notifications for urgent alerts on different trading progress. Also, you get an integrated calendar to keep track of your investments and profits. There are analytical and indicator tools for you to determine accurate predictions. You get different account types such as demo, standard, gold, and VIP.
#5 Pocket Option.
Pocket Option is a prominent name in this industry and has gained a good sense of popularity among Malaysian traders. The services that this platform offers are:
You get over 100 assets to trade with. You can leverage high/low or turbo trading options. The expiry time limit can range from 1 minute to 4 hours, depending upon individual choice.
The minimum deposit is $10, and the minimum trade amount is $1.
#2 IQ Option.
The minimum deposit is $10, and the minimum trade amount is $1.
#3 Olymp Trade.
The minimum deposit is $10, and the minimum trade amount is $1.
The minimum deposit is $10, and the minimum trade amount is $1.
#5 Pocket Option.
The minimum deposit is $50, and the minimum trade amount is $1.
Quotex.io takes a time window of 1 to 5 days for processing the withdrawal requests. The minimum withdrawal amount for Quotex.io is $10, while for bitcoin traders, it is $50.
#2 IQ Option.
For e-wallets, IQ Option takes just a few hours to credit the profit amount. But if it is a bank or credit card transfer, then it takes one business day.
#3 Olymp Trade.
The withdrawal time is one business day for Olymp Trade, but the request is processed within just a few hours.
The withdrawal can take time of around 1 day to 3 days to reflect in your account.
#5 Pocket Option.
The minimum withdrawal amount is $10 for the platform, and it takes one business day to 3 days for the credit.
You get 24/7 customer support service at Quotex.io.
#2 IQ Option.
You can reach out to their support team throughout the day, over live chat, email, or call.
#3 Olymp Trade.
Reach out to the company support staff through email, live chat, and call.
The live chat feature of Binomo is quite popular and seamless. It also has an email support system.
#5 Pocket Option.
Take the customer support number and get in touch with the support team of Pocket Option for ideal solutions.
So, if you are keen to invest in binary options trading, then you need to rely on the best broker. The above five options are the best platforms that serve Malaysian traders. Understand the features and perks of all platforms to ensure that you profit the most out of them.
The Cup and Handle Pattern in Binary Options trading.
Examining the chart pattern is one of the fundamental aspects of trading binaries. The chart analysis helps the trader to recognize the ongoing market trend and further helps in predicting the future of the asset.
The chart patterns aids in joining the different financial market conditions. You can identify when the market is going sideways and when in a downtrend or uptrend. Hence, it is important to check the chart and the patterns therein.
For the same purpose, there are numerous technical indicators, filters, and other trading tools.
What is Cup and Handle Pattern?
The cup and handle pattern s are one such technical indicator that is used to read the market flow. It was introduced for the first time in a book named “How to make money in stocks” (1988) penned by William O Neil.
As the name suggests- this pattern is formed in a ‘U’ shape with a downshift handle. The pattern formation can be for the short term or even for the long term. It is generally considered a bullish market.
Formation of Cup and Handle.
The cup in a cup and handle pattern is created when there is a price downtrend which is soon stabilized, and again the price goes up equivalent to the decline forming a ‘U’ shape. When the price goes either in a downward trend or sideways, the handle is formed.
This can be read in four different phases-
Phase #1 – The left side of the ‘cup’ is formed when the market declines.
Phase #2 – The downtrend makes the price goes sideways, forming the bottom of the cup. Here, the bullish investors leave the positions.
Phase #3 – The bull traders come into action. They make the price go up. This forms the other side of the ‘cup.’
Phase #4 – With both sides equal, the sellers and purchasers become even. Lastly, a range-bound movement builds the ‘handle.’
The trend can make the handle triangle in shape as well. With the formation of the handle, traders anticipate an entry point to buy the assets.
Characteristics of the Pattern.
#1 Legit Cup and handle shape.
The cup and handle have a standard shape of a teacup. It is formed when the upward moving market trend goes down due to the increase in the selling ratio. The ‘U’ shape cup is traded the most, whereas a ‘V’ shaped cup is derived when there is a quick recovery of the asset. Unlike U-shaped one, there is no halt in the price, and it is very likely to crash.
#2 Perfect depth.
The depth of the cup plays an important role. According to a general rule, the most suitable depth is when the shape is retraced 1/3 or less. However, in a volatile market trend, the depth could go around ½, and in some situations, it could even go up to 2/3.
The build-up time of this pattern can range from weeks up to months. It is believed that dependability increases in a longer time frame. An ideal structure is when the handle is smaller than the cup.
#4 Pullback before breakout.
The pullback before a breakout forms a handle that is always present on the right side of the chart. The handle could be flag-shaped or pennant-shaped.
#5 Price fluctuations.
For a suitable structure, there should not be any big reductions and severe gains on the left and right sides of the cup, respectively. The bottom should be smooth with minor fluctuations.
The volume could be negligible at the base of the cup but has to increase with the rise in asset price.
#7 Profits from the pattern.
You can calculate the expected growth in price. For a rough assessment, take the distance from the bottom to the highest point on the right side of the cup and then combine it with the breakout point.
The result will provide you with the potential price target. Use different indicators for better results.
Things to know before trading Cup and Handle Pattern.
Other than ‘cup’ and ‘handle,’ there are some other basic details that are helpful for every trader.
Volume – the volume must be high along with the breakout. Price Target – the expected target is in the upright distance. Stop-loss – the most used and beneficial term, ‘stop-loss,’ is used at the lowermost point of the handle. Period – it is the time taken by the pattern to develop. The cup has a formation period of 1 to 6 months. And handle takes around 1 to 4 weeks. Depth – the depth of the cup, which is considered an idea, is when it goes back over either 1/3 or less than 1/3 of the preceding advance.
Are Cup and Handle in Binary Options bullish?
As a common rule, the cup and handle pattern s are considered bullish in nature. The originator, William O’Neil, stated some segments in his book.
According to him, the first segment begins 1 to 3 months prior to the formation of the pattern. Here, the price of an asset will go extremely high. In the next step, the price will go back over and drops around 50% and forms a round bottom.
Next, the price will recover, and in the fourth segment, the handle will assemble.
This pattern hence shows a bullish market.
Can this pattern become bearish?
The pattern can be formed upside down. Inverted cup and handle will be formed in 3 to 6 months. This pattern shows a bearish reversal. The price here will break below the resistance.
The features are similar to the bullish pattern. Entering into a short position and setting a stop-loss reversal is the best way to trade an inverted pattern.
What happens after a Cup and Handle Pattern?
After the completion of the cup and handle pattern , you will have the opportunity to enter into the trade with call options. The potential bull market shows that the trend will flow in the upward direction, making it a suitable condition for bullish traders.
In order to trade the Cup and Handle, first, you have to spot the pattern on the price chart. The expected breakout takes place after the handle is formed. And because the pattern implicates an upward trend, i.e., a bullish market, use the ‘call’ option.
Place your call immediately after you see the pattern completing and a spike forming. You can set the binary options trade from 1 minute to 1 hour. It can be purchased right after the breakout of price over the resistance level.
Always scrutinize different time frames because this pattern takes its sweet time to develop. You can use either ‘touch’ or ‘no touch’ options depending upon the situation.
As a binary trader, use the one-touch only when you see a break out happening above the ‘handle’ of the pattern.
After the completion and spotting the pattern, traders can enter into a one-touch deal. For this option, the following conditions are required to be fulfilled-
The target price laid out by the brokerage firm for the call options should be either equal to or more than the possible price target. The momentum of the flow should be strong enough to support the uptrend, and the volume must escalate when the price goes above the resistance level, i.e., the handle. No Touch
It is one of the most suitable and used options in binary trading. In the cup and handle pattern , the breakout is very strong since it took months to develop.
Therefore, traders can use ‘no-touch options’ after the breakout, and it will eventually end in profits. This contract also requires strong support from the volume and momentum.
Other than these, a trader can also use ‘double one touch’ options and ‘double no-touch options. Though, they are not effective as compared to the above-mentioned options.
The ‘double no touch’ options require four conditions-
The momentum is feeble. There is no news affecting the market with high impact. The rise in volume is negligible. The price breaks above the resistance level or the handle.
How do you screen for Cup and Handle Pattern?
What is screening?
It is a trading tool through which you can check the available assets as per your own norms. These tools are available on your trading platform. It could be free or subscription-based.
With the screen tools, you can use your own rules and conditions. This also helps in finding trading chances. These tools can be used by technical/fundamental traders as well as by professional or hobby traders.
Scanning or screening a cup and handle pattern is easy as well as important. There are automatic screeners that can be used to locate this pattern.
Inspect for any breakout in an asset. Find the assets that are breaking out. You can use filters like volume filter, ADX crossover, etc., for the same purpose. Screen for the assets that are contained in consolidations. For this, you can use filters like ADX crossover and the volume filter. Last is to screen for the exhaustion gaps. ADX, along with the Bollinger bands, can be used.
Strategies for Cup and Handle Pattern trading.
Cup and handle are some of the most relied upon patterns and are effective if used properly. Given below are some strategies which you can apply to trade this pattern, especially if you are a beginner.
# 1 Strategy.
It is evident that the time is taken, shape, and formation of every handle are different. The handle is that compound that can promote the price of an asset. Hence, it is important to trade during a strong handle.
A durable and resilient handle has the following traits –
The candlesticks used to make the handle are very closely packed. The price gets an extension timed with the volume during the breakout. The breakout candlesticks should be closed above the resistance level. In short time frames, for example, in 5 minutes, the handle is composed of 4 to 10 candles. This will minimize the situation of the sideways price flow challenge.
These features show a remarkable potency in volume, and speed and trading will ultimately lead to profits.
# 2 Strategy.
You can buy the assets after the candlesticks of the pattern have closed over the Ichimoku cloud.
It is a technical indicator used in trading which signals resistance and support levels. It also evaluates the momentum. Its actual name is Ichimoku Kinko Hyo meaning ‘one look.’ It is named so because, with a single glance, the investor can get a wide range of statistics.
Using it in cup and handle will increase your chances of winning the trade. For instance, the trend is intensified if your asset successfully closes above the cloud. And if it does not, then the bulls should leave the trade because the bears are now in charge.
Ichimoku indicators can also be used to avoid false indications in the market.
These are few strategies that are effective and can be applied during the cup and handle pattern formation. Other than these, you can formulate your own strategy or plans in order to perform a successful trade.
Don’t (s) in Cup and Handle.
These are the following points which must be avoided in order to make a successful trade-
Do not trade a V shape cup. The ideal shape is U. Observe a previous uptrend. Cup and handle are not reliable when there is no prior uptrend before the actual creation of the pattern. Do not trade shallow cups. Do not make your call before the completion of the structure. Any trade placed before will probably result in loss. The size of the handle must not exceed the size of the cup. Therefore, in the opposite scenario do not performs any contract. Never trade a handle with an upward or sideways trend. It should flow on a downward trajectory always. Never call any trade when there is no rise in the volume during the increase in price.
Limitations of the Cup and Handle Pattern.
Like all the other patterns and indicators, cup and handle also have some drawbacks and limitations. There are many cases where the pattern fails to generate profit because of some negative news that affects the market flow.
Hence it is advised to always wait for the accomplishment of the pattern. And before making your trade, use the pattern with the other indicators or signals. In addition, observe the size of the handle. It should not exceed 50% of the size of the cup.
Some common limitations of cup and handle pattern are-
It Is Ambiguous in Nature.
The pattern could take months or even years to complete. This results in an overdue trade decision.
Can Generate a False Signal
The depth of the cup plays an important role. But many a time, a deep cup produces a false signal, whereas a cup with shallow bottom can be an indication.
Hard to Recognize the Handle.
The handle is sometimes not distinct, making it hard for the traders to make any decision.
These are some of the limitations which can disrupt your trading experience. However, they can easily be overcome by the use of additional filters, screeners, and indicators.
What are the types of Patterns?
This pattern can show both – a continuation or a reversal pattern. The Continuation Patterns.
Here, the price of an asset goes uptrend, which forms a cup and handles and continues to rise. The Reversal Patterns The price starts to rise after being in a downtrend for a long time, forming the pattern of a cup and handle. This reverses the whole market situation, and the price starts to flow in an upward direction.
What Is the Right Time to Enter the Pattern? Always wait for the completion of the pattern. The handle opens up the entry point, so buy the asset when the price goes above the handle because the chances of the price rising after the breakout point are extremely high.
Is there any need for Stop-Loss?
You need to use the stop loss since it is not always guaranteed that the price will go uptrend. Sometimes it might go sideways or fall after rising a little bit. While in some cases, it drops down immediately. Hence, the stop-loss order is necessary to get you out of the trade.
Cup and handle are one of the oldest and most used patterns in binary options. It is a long-term pattern which is also known as ‘Saucer and Handle.’ It is extremely reliable and helpful. Thus, if you trade binary options, then you must learn the aspects of this pattern.
The catch here is to closely monitor the before pattern and post pattern scenario as they are key factors in determining the upcoming trend. Use different indicators, filters, and other technical parameters to gauge and confirm the pattern.
With effective measures, traders can enter the market in the long term. It is one of those patterns which provides you with good risk rewards. You have to be patient and persistent in binary options trading. With some practice and learning, you can trade any pattern productively.
Types of Binary Options trading.
Binary options, like ordinary options, have a premium, a strike price, and an expiration date.
The distinction is that with binary options, the trader chooses the option’s “premium” amount (conventional options are usually selected by the market), and the expiration dates are substantially shorter.
Let’s take a look at how binary options transactions work before we get into the ka-ching.
In essence, regardless of how far the market goes beyond the strike price or whether the contract’s criteria are met, you will receive a predetermined fixed profit .
Do you want to trade in binary options but don’t know how to do that? Well, you will be amazed to know that there are seven types of options to choose from. Want to learn more about them? Then check out this guide on- Types of Binary Options Trading right now!
What are the different types of Binary Options?
There was only one sort of trade available when binary options initially became popular a few years ago: High/Low, Up/Down, or Call/Put. All of these expressions have the same meaning.
Binary options, as the name implies, get their name from the structure of these trades, which have two alternative outcomes. However, since the rise in popularity of binary options, a variety of other sorts of transactions have become available on binary options websites, and more are appearing all the time.
When you open a binary options account, what are the different types of options you can trade?
High/Low One Touch/No Touch Boundary/Range Short Term/60 Seconds Long-term planning Ladder Pairs.
Let’s take a closer look at each of these trades. Binary options are rapidly evolving into a thrilling world of possibilities.
The High/Low trade is the most basic sort of binary options transaction. In High/Low trade a trader needs to assess an asset which could either be a currency, index, stock or a commodity. The trader has to analyze and respond to a question-
“Will asset A will trade at a higher or lower price than the currency time and will it expire at time Y?”
Binary options are a “one or the other” type of option.
If you believe the answer is “higher,” simply select “High” (or “Up” or “Call”) on your platform. If you believe the answer is “lower,” select “Low” (or “Down” or “Put”) on your platform.
Option Builder provides users a more flexible form of High/Low trading experience that can bid in the stocks of many big companies. It also implies that expiration time can change or be set by the trader.
Expiration times vary, however they often span from five to fifteen minutes to several hours later on the same day for High/Low bets.
Earlier, most of the traders used to invest in intra-day trading. However, nowadays, people are more interested in Long term trading.
Here you win a trade when your claim turns out true, and the asset is trading at the level you specified before the clock ticks out. If you fail to do so, you will lose the trade.
A demonstration of how the High/Low choices operate.
Let’s imagine you decide to trade the EUR/GBP currency pair with a $100 investment. You can see that the current payout is 75%, and the trade will expire in one hour.
All you have to do now is forecast whether the EUR/GBP rate will rise (call trade) or fall (put trade).
Let’s say you believe the EUR will increase versus the GBP in the next hour, implying that the rate will rise. At 1 pm, you place a 0.8933 Call trade on the currency market.
At 2 pm, the EUR/GBP rate had climbed to 0.8940, indicating that your guess was correct and a trader completed the trade successfully. You get $175 (made up of your $100 investment plus a $75 incentive) because the payout on this deal is 75%.
Traders who chose the wrong Put trade under this situation would lose their entire $100 investment. In order for a Put trade to succeed and a Call trade to fail, the price at expiry time must be lower than the strike price, which is 0.8933.
Now you see how the High/Low trade works. It’s that simple.
#2 One-Touch vs. No-Touch.
One-Touch trading differs from High/Low trading in a few ways. When you’re trading One Touch, you’re looking at a particular asset and asking a separate inquiry.
“Will X asset hit Y trigger point by Z expiry time?” says the investor.
You can find the trigger point at any point on the graph. The larger your potential payment if you win, the further distant the trigger point is from the present price level. Because a point close by is easier to reach, it will pay less because the risk is reduced.
You win your trade and the reward if you predict that the asset will touch the trigger point and it does so inside the expiry period. If you’re wrong, you’ll lose your money.
One of the most exciting aspects of One Touch trades is that they often have substantially greater payouts. This is owing to the fact that they carry a higher level of risk.
However, while the average payment for High/Low trades may be close to 85%, your broker may offer you payouts of up to 300 percent for One Touch transactions.
There are further variations on the One Touch trade, albeit they are not widely available.
No Touch trades are similar to One Touch trades, with the exception that you’re betting on the price not reaching the trigger point. There are also multiple-valued Double One Touch and Double No Touch deals .
When the price of the underlying asset crosses a predefined barrier, commonly known as a “trigger,” this type of option pays out a profit to the holder.
The trader will receive his compensation after the trigger level has been met. This option is favored when an investor is confident that the asset’s price will make a strong move in a specific direction and hit the trigger value, regardless of whether the price spike will be sustainable or the market will retrace.
Although the option must only touch the trigger level once to be considered “in-the-money,” the one-touch option is often riskier than normal binary options. It gives a greater payout, which can exceed 500 percent with some brokers.
In addition, these options are typically available for purchase over the weekend, with the payout condition being that the trigger level is reached within the following working week.
In contrast to one-touch options, the no-touch option works in the opposite direction. You’re betting that the underlying asset won’t reach a specific price level.
Thus you and your broker bid for a price level above or below the current price and predict whether the price will touch the level before the time runs out as you did in the one-touch option.
If it hits it even once, the option becomes “out-of-the-money” right away, and vice versa.
Talking about returns, if we consider the time and trigger value, these options can yield up to 500 percent of returns because of the high-risk trade involved.
If the parameters are more difficult to meet, both touch and no-touch alternatives give a more significant payment.
If the trigger is further away from the spot price, one-touch options will pay out more money. If gold is now trading at $1 300 per troy ounce, a one-touch option with a $1 350 trigger will yield a larger return than one with a $1 325 trigger.
In contrast, the closer the trigger is, the bigger the return on no-touch binary options.
Therefore, a $1325 bid will get you more money than a $1350 bid as the probability of hitting the closer target are high enough. Not only that, the risk of becoming “out-of-the-money” gets higher.
The logic for double one-touch options is the same as for one-touch options.
But, unlike one-touch, Double one-touch involves two triggers for each side of the spot price. If any of the two triggers are passed by the price of the underlying assets, then your option will become “in-the-money.”
If gold is now trading at $1 300 and you or your broker have placed the upper and lower triggers at $1 350 and $1 250, your option will be lucrative if gold rises to $1350 or falls to $1 250. If the price does not touch any of the two triggers before the expiration period, it will be considered “out-of-the-money.”
As a result, double no-touch options are appropriate for market consolidation situations. The trader is confident that the price will accelerate and break out shortly but is unsure in which direction.
Double No Touch.
When compared to the double-touch alternatives, double no-touch options follow the exact opposite approach.
It’s similar to double one-touch, but unlike that, double no-touch involves two triggers for each side of the spot price. If any of the two triggers aren’t passed by the price of the underlying assets, then your option will become “in-the-money.”
If one of them is hit, the option will become “out-of-the-money,” and you will lose your money.
As a result, traders prefer to invest in such an instrument when they expect the market to consolidate in a narrow trading range, which frequently occurs following a buy or sell climax (a strong price spike).
The following is an illustration of how Touch options function.
Your broker can only offer a few different types of touch options. We will just cover the basic types in this article, from which various variations are derived.
Let’s say the underlying asset is the EUR/GBP currency pair , which is now trading at a rate of 0.8934. When you choose an asset to trade, the broker displays the following numbers automatically:
1) A price limit of 0.8939.
2) A payout of 90% of your deposit.
3) Two trading options: ‘Touch’ or ‘No Touch.’
Assume you believe the item has the ability to hit this predefined higher price threshold within one hour of the expiry time.
Around 3pm, you use your 100 USD deposit to place a ‘Touch’ trade order.
In no time you will see that the price of the EUR/GBP currency pair went through the price level of 0.8939 soon after you place the order of Touch trade. After this option trade expires, you will get a signal depicting that your trade was fruitful leading to a payout of USD 190, where $90will be the bonus.
Even if the expiration price was less (0.8931) than the strike price, the important criteria for a successful trade was however satisfied.
Boundary trading can be referred to by other names like channel trading, range trades, and entails. The concept of a channel, in which price ranges are separated, is one part of technical analysis that you will master when learning how to trade.
Support and resistance determine the upper and lower bounds in this type of trading. Price will test these limitations and stay within them for the most part, though it will eventually break through and enter a new range.
You’re effectively making a Double No Touch trade with a Boundary trade when you’re implying that the price will remain within a specific range defined by two trigger points.
You win if the price maintains within the specified range throughout the trade, or you lose if it goes outside that range (touches either trigger point) within the expiration period.
The beauty of boundary trading is that it allows you to earn even in flat markets with pretty consistent prices.
Because most trading situations only allow you to profit from price swings, this is a one-of-a-kind chance in the binary options arena that you won’t find anywhere else.
Range trading is only offered by a small number of binary options brokers, so if this is something that interests you, you’ll need to hunt for a broker that does.
An illustration of how the Boundary option works.
Using the example below, we can see that the currency pair EUR/GBP is flat on the market, and the broker is offering a 95 percent payment that will expire at 2:45 pm. Let’s pretend you decide to trade this as a Range option after evaluating the price range available (always created by the broker).
The maximum price boundary is 0.8940.
The lowest price limit is 0.8930.
The asset’s current price of 0.8935 is in the middle of the price range, defined by top and bottom price levels. Along with the price range, there are two trading options: IN or OUT.
When EUR/GBP trades at 0.8935 at 1:45 pm, you deposit USD 100 to trade IN. The underlying asset remains pretty flat for the following hour and does not depart from the price range. Because the price remains within the set range, you make USD 195 on the IN trade in less than an hour (your deposit of $100 plus a reward of $95).
#4 Short Term/60 Seconds.
In recent months, 60-second trades have grown quite popular. They’re currently just as popular as High/Low and One-Touch transactions.
They are currently available from almost every binary options provider. These trades function in the same way as the normal High/Low trades I mentioned earlier. However, the activity only lasts one minute. 60 Second transactions usually have a one-minute expiry duration.
Nothing beats being in a trade with the potential to make or lose a lot of money in a short period. Short-term transactions are also available from several binary options firms. Options with a 60-second expiry period may be available, as well as options with a two- or three-minute expiry time.
A word of caution: these ultra-rapid alternatives are not suitable for everyone. If you are competent at working with small timeframes and responding quickly, you can earn a lot of money this way, but most traders who get into these trades without preparation and testing will find that their money is gone in 60 seconds.
Make sure this form of trading is good for you by doing some demo testing first!
#5 Long-term Trading.
Long-term options are one of the fascinating forms of transactions that I’ve only recently discovered binary options providers offering.
These are the opposites of the 60-second selections. Instead of being built to last a few hours, days, weeks, or even months, they are designed to last days, weeks, or even months. There are several expiry times to choose from.
“However, I don’t want to sit in a trade for weeks waiting to see if I’ve won or lost. “Why would I do that when I can make money in 60 seconds?” says the narrator.
This is a common reaction among binary options newcomers, and it is one of the reasons why this style of trading has not taken off.
Nonetheless, you’ll see that more and more brokers are offering lengthier expiry durations. So, why would you want to be stuck in a deal for weeks or months? Long-term trading isn’t exactly a fast-paced environment.
The unpleasant reality is that the vast majority of traders that begin trading in short periods will fail. Outside of binary options trading, traders are significantly more likely, to begin with, trades that they will hold for several days.
For a few reasons, learning these slightly longer transactions is easier.
To begin with, it’s easier to repair mistakes in your trade when you’re not tempted to lose all of your money in one sitting.
Second, data at these levels are more consistent, making it easier to make profitable trades, ideal for technical analysts and price action traders.
Another reason you should choose Long Term trading is because not everyone has the skill and knowledge to do Short Term trading. Many traders will be happier and more successful if they deal over days or weeks. Others will do best with long-term position trades that last weeks or months.
Ladder trades are a relatively new invention as well. On binary options websites, you’ll find some of the more intricate sorts of deals.
They’ve built up an “interval” with a variety of strike prices. Ladder trading gives you a chance to benefit in part from trades that are anticipated to face considerable support and resistance. Along the route, there are various distinct expiry prices. Both the striking prices and the expiry times are yours to choose from.
A Ladder trade is similar to a High/Low or One Touch trade in terms of execution. You’re still essentially looking at an asset and predicting how it will move and in what time frame.
Because you’re breaking down the trade, you can have partial gains and losses. This is a trade for experienced traders, and learning how to execute it profitably will likely take some time.
Nowadays, Pair trading is one of the most followed trends in the trading industry. StockPair was the first broker platform that introduced this form of trading.
Soon after getting introduced, Pair trading got the attention of many new traders. Even the old brokers started getting inclined towards it and followed suit.
Today, a lot of binary options provide this form of trading. In this, one can bid on any virtual market condition, be it uptrend, downtrend, or sideways movement.
To figure out which method is best for you, we advise you not to trade with real money. You must be aware from our previous articles that trading on binary options involves a lot of risks. Therefore, you should always start with a demo account and trade using it to determine which binary option is for you.
Best Binary Options brokers that accept Skrill for deposits.
Before we start, let’s start with a basic rundown of Skrill.
Skrill, like PayPal, is an online payment processor. Moneybookers was the name of the company when it was launched in the United Kingdom in 2001.
Moneybookers had grown to a value of £365 million by 2009, and they declared that they would be providing services to all clients and businesses, not only those involved in gambling and e-sports.
The company stated in 2011 that they would be renaming as Skrill. There isn’t a solid reason why they changed their name.
Skrill, which had been rebranded, bought Paysafecard, an Australian prepaid card program, in 2013 and was later acquired by CVC Capital Partners. They joined with Neteller, one of their biggest competitors, in 2015.
Digital wallets are the quickest way to deposit/withdraw cash for binary options trading. Skrill, one of the most renowned e-wallet, has also been a part of this line for a long. But, what are the best binary options broker that accepts Skrill for deposits? Let’s find out below.
Benefits of using Skrill as a digital wallet for Binary Options.
There are many benefits one can avail by using Skrill on any binary broker for deposits. Some of them are as follows:
#1 Apps with transaction support.
You’ll adore Skrill if you’re an app developer.
An add-on feature for why you should use Skrill is its microtransactions on its app version.
This is especially common for gambling apps, but you may also utilize it for games, business apps, and any other app you’re working on.
This is a terrific approach for users who don’t have Skrill but have your app to make mobile payments.
#2 Seamless online retailer integration.
Skrill is a payment option on many third-party platforms where you can build an online store.
Do you want to open an online store? Take a look at this!
This is yet another option for accepting payments from consumers who do not have a Skrill account.
#3 Checkout with a single click.
Skrill is how convenient for your customers? It’s as simple as pressing a button.
Anyone who uses Skrill digital wallet can transfer funds to their binary options account with a single click.
This level of efficiency is critical in today’s fast-paced world for maintaining customers.
#4 Payments that recur.
Skrill also supports recurring payments, which is a nice feature.
No, the phone provider or the power company will not take Skrill payments. However, gambling websites, as well as a large number of pornographic websites, will be affected.
Recurring payments are supported by most payment services, but no one else will allow you to deal with these types of organizations, to begin with.
#5 Payments in bulk.
Skrill is beneficial if you send out large amounts of money on a regular basis.
Assume you need to send multiple identical payments to various recipients. Contractors, employees, or vendors could be involved.
Skrill allows you to make payments in batch, i.e., all at once. The platform also provides its users with the flexibility to make transactions one by one.
How many currencies does Skrill support?
Skrill presently accepts payments in over 40 different currencies around the world. We were also surprised to hear that they get cryptocurrency transactions.
You can use Skrill along with your other trading bank account. The facilities are so flexible that for deposit/withdrawal on any binary options, you can use Skrill cards in the following currencies:
US Dollars Polish Zloty British Pounds Euros.
Do you still wish to delve into the depths? Let’s keep going.
Is Skrill a reputable E-Wallet company?
Before we get into the features of Skrill, let me tell you about what we have learned about the company.
Skrill has been registered with the Financial Conduct Authority in the United Kingdom since its inception. The FTSE 250 index includes their stock.
They also hold a European e-Money license, allowing them to operate anywhere outside of the United States.
This company is legally licensed in all of the 50 states of the USA.
Skrill is, in fact, a reputable company. But there’s still more to discover.
So, what are you supposed to be worried about?
Skrill’s reputation problems date back to when they were solely a casino payment processor. Gambling is a risky profession, and even the most trustworthy bookies will encounter disgruntled consumers.
We are willing to overlook any negative evaluations from their Moneybookers days.
Let’s take a peek at what their present consumers have to say about them.
Skrill has a lot of unfavorable ratings on trustworthy websites right now. They have a C rating from Cardpaymentoptions.com and a B rating from the Better Business Bureau.
However, most of the customer-authored Skrill evaluations we have read didn’t seem genuine and were poorly written, leading us to conclude that US and UK clients are generally satisfied with its service.’
What was the source of the dissatisfied customers’ dissatisfaction?
We’ll go into more detail about this when we discuss security, but we believe these issues stem from Skrill’s need to verify their clients’ identities.
This is easy to do in Western countries, which may be a significant source of trouble for its consumers.
While some consumers were dissatisfied with Skrill’s identification verification methods, we found them to be helpful. They protect their users by ensuring that persons are who they claim to be.
Skrill is, without a doubt, a legitimate company. However, before you sign up for Skrill, you should familiarize yourself with their fees.
How much do Skrill fees cost?
To start trading on Binary options, one has to make a proper account on Skrill, but another prevalent gripe is that Skrill’s fees are costly. But is this claim genuine? Let’s dive into facts.
Since Skrill is a big name in the digital wallet industry, anyone would think it off as a ridiculous complaint. Let’s say you receive money through your Skrill account. Your transaction cost will be 1.9 percent of the payment + €0.29 (about $0.33 at today’s exchange rates). This is similar to how PayPal works.
So, what’s the big deal?
The chargeback fees are one of the primary reasons for dissatisfaction among users.
Skrill chargeback fees are €25 (about $28.36) as of February 2019. That’s a little more than PayPal’s $20 chargeback cost, but it’s not precisely extortionate.
However, there is some relaxation too. Skrill doesn’t ask for any account setup fee, just like in Paypal.
So, where do these ostensibly hefty fees come from?
The charges are high for withdrawals which is a big complaint among Skrill users.
Withdrawals from Skrill cost $5.50 at the moment. If you’re withdrawing a tiny quantity of money, that’s a substantial fee. Even if you’re withdrawing huge sums, this is significantly more expensive than PayPal, with no withdrawal fees.
What about the international costs charged by Skrill?
As you can see, Skrill money transfers are free within the United States, but you may be charged if you send money outside. If your account is inactive, which means you haven’t made at least one payment in the past 12 months, you may be charged a $5 annual fee.
But here is a catch: you will not have to pay the company if you close the account before it goes inactive. But make sure that you transfer your funds and every single penny to some other platform.
These costs are, for the most part, extremely affordable. When you start conducting international transfers and processing payments in foreign currencies, however, that changes.
Those mentioned above “wholesale exchange rate” is provided by a third-party data provider (Reuters), and you will be charged an additional 3.99 percent. It may not appear to be a lot, but it all adds up.
What other charges does Skrill Levy?
Returns are charged $0.55, and accounts that have been dormant for more than 12 months are charged €5 (now $5.69) each month.
You’re probably wondering if loading funds is free at this point. No, that is not the case.
Unless you’re doing it from a checking account, there’s a cost for loading funds into your account. These fees range from 1% for Bitcoin deposits to 7.5 percent for deposits made with a Paysafecard debit card, which is perplexing given that Paysafecard is owned by the same firm.
Finally, merchants who pay less than €10 per month in transaction costs will be charged a special service fee. There is no information on the precise amount of the service fee, although it may be significant.
Let’s look at a real-life scenario to see how this all works out.
Let’s say you want to sell a $1,000 guitar. Then, Skrill would deduct the following charges from your account:
$19.29 transaction fee $39.90 (if applicable) currency conversion fee $5.69 withdrawal fee $935.12 for takeout.
As a result, you can end up paying $74.88 in fees. That’s quite pricey when compared to PayPal.
In a nutshell, the primary reason behind Skrill’s annoyance is their non-transparency regarding their fee layout and how it is reasonable.
To acquire all of the cost information, we gone through multiple reviews, and even then, no one appears to know how much the cost is for merchants who aren’t charged $11.34 per month, except for Skrill, whose answer is silence.
What are the countries that are supported?
Except for countries sanctioned by the World Bank or the United Nations, Skrill is authorized to process payments to and from every country on the planet.
This distinguishes them from their competitors, who prefer to play it safe by remaining in primarily developed countries.
How many loyal users does Skrill has?
You will be amazed to know that Skrill has a loyal user base of over 156,000 active merchants. By January 2019, the company recorded to have 32 million active users.
Is Skrill a safe and secure payment method?
Let’s take a look at security, which is undoubtedly your main issue.
Skrill has robust identity verification procedures in order to comply with US, UK, and EU banking rules.
What is the process of verification?
To verify your account for trading or non-trading purposes on Skrill, you have deposit funds. This can be either be done by bank to a bank transfer, debit card, or Bitcoin.
In most cases, that’s enough for proof, although we’ve heard of people being requested for images of their official ID or bills delivered to their homes.
If you reside in a country with poor infrastructure, this sounds like it could be difficult.
Identity verification cases appear to take anything from a few weeks to several months to be resolved, with consumers’ funds remaining in their accounts until then.
What about the use of encryption?
Skrill shines in this area. It outperforms the competition when it comes to hacker protection.
Not only that, Skrill employs 128-bit encryption and requires customers to perform two-factor authentication every time they log in.
Does Binary accept Skrill?
Yes, many binary options platforms accept Skrill as a medium to deposit and withdraw money and funds from their trading account.
To use Skrill as a digital wallet for binary options, you have to sign up on Skrill first.
Thus, to create a user account, follow this link to register with Skrill.
Once you click on the signup page, you will be redirected to a form to fill in your details like name, contact number, DOB, country name, etc.
After completing this process, you’re ready to depart.
What currencies does Skrill accept for deposits?
Skrill’s currency exchange fees have been a point of contention for most people, but we neglected to note that Skrill now takes over 40 foreign currencies, compared to PayPal’s 20.
Bitcoin Cash, Ethereum Classic, Litecoin, Ether, Bitcoin, XRP, and Ox are also acceptable.
The company outperforms the competition when doing business on a genuinely global scale and working with bitcoin.
How long does it take to add money for BO trading using Skrill?
The time taken to fund your Skrill account is determined by the method you choose. Bank transfers, for example, can take anywhere from two to five days to process, based on when and by which bank.
Meanwhile, payments by Rapid Transfer, credit card, Paysafecard, and debit card are all processed quickly, making this one of the slowest ways to fund your Skrill account.
Which Binary Broker uses Skrill?
There are a lot of binary brokers that use Skrill. Some of them are as follows:
IQ Option Olymp Trade Quotex Expert Option Binary.com Binomo and many more.
What is the best Binary Options broker that accepts Skrill?
As per our study and research, the most prominent BO broker that accepts Skrill is IQ Option and Olymp Trade that is used almost in all parts of the globe (except a few countries).
How to use Skrill on IQ Option?
Here is a detailed procedure for using Skrill on the IQ option to deposit/withdraw money.
#1 Make A Skrill Deposit.
You’ll need to top up your Skrill account before making a deposit. You’ll need to log in and go to the Deposit tab to do so. Indicate the country you’re in and the currency you’d want to use. You’ll be able to choose your top-up method once you’ve completed this.
A note to remember- IQ Option doesn’t accept deposits via MasterCard for binary trading purposes.
You will not put that money into your IQ Option account because the platform is not a gambling service. To do so, you’ll need to use a different payment method. This is only true for MasterCard.
#2 Skrill to IQ Option Transfer.
To deposit funds to your IQ Option account using Skrill, go to the deposit page at counting and select the deposit method.
Next, enter the amount you want to trade with. Remember, the minimum deposit limit of IQ Option is 10 USD. Once you complete this process, click on the “Pay Now” button.
You’ll be routed to the Skrill login page, where you may finish the payment by signing in.
To withdraw your surplus on IQ Option, click on withdrawal, and you will be redirected to the withdrawal page.
From there, select Skrill listed in the Drop-down menu.
Finally, enter the amount you wish to withdraw (minimum 2USD) along with the associated mail ID linked to the Skrill account.
Check to see if your IQ Option account is confirmed; if not, you’ll need to supply the required documentation.
#4 Skrill Account Cancellation.
Of course, once the funds are in the e-wallet, you’ll need to figure out how to get money out of Skrill.
Click on the Withdrawal tab to withdraw your profit from the trading account to your bank account. You can also transfer the profit or the yield to your bank card. If not, you can use the sent tab to send the money to some other digital wallet.
The time for withdrawal depends on the method of withdrawal you choose.
A bank card, for example, can take up to three working days to process.
#5 Process of Verification.
You can go through the ‘verification process’ to boost the transactional volume allowed in your Skrill wallet.
You can find the Verification button by scrolling down from here. You can also use Facebook to complete a shortened version of the verification process.
If you don’t have a Facebook account, you can still confirm your identity using the Skrill mobile app or website.
You’ll be able to use a Skrill Pre-paid MasterCard after you’ve obtained confirmation, which you may get through the Skrill card tab.
#6 Skrill & IQ Option Fees.
There are no fees for withdrawals or deposits from Skrill when using IQ Option. You can make commission-free deposits and withdrawals from your account. Though, Skrill does impose fees for deposits and withdrawals.
How to Use Skrill On Olymp Trade?
As you read above, how easy it was to use Skrill on IQ Option. A similar process is used in most of the platforms to deposit/withdraw money using Skrill.
Perks of Using Skrill On Olymp Trade.
There are a few benefits of using Skrill on Olymp trade stated as follows:
Fees for Skrill Transfers On Olymp Trade.
Skrill Money Transfer is a free service that lets you send money to a bank account instantaneously.
In all other cases, money transfers will cost between 1.45% and 5% of the payment amount, with the amount of the fee increases depending on the date of account opening; the more you use the system, the cheaper the transaction will be.
Additional Skrill Charges.
There is no fee for using the Skrill payment system for personal purposes if the user has logged into their profile or made at least one transaction within a specific time.
Otherwise, Skrill will charge a EUR 5 or comparable service fee. The commission is withdrawn from the account balance on a monthly basis until it is reset.
#3 VIP Statuses On Skrill.
Each Skrill payment system user can choose from four different VIP levels: Bronze, Silver, Gold, or Diamond. A user’s VIP status is determined by the number of deposits they make; the higher the number of payments, the greater the level and reward, and the better the charges for money transfers in the system.
Is Skrill worth it for Binary Options?
Skrill is a fantastic service for some people, but it may not be the best option for others. It all depends on your requirements. Take a look at these advantages and disadvantages to see if Skrill is perfect for you.
Pros: It is secure.
Skrill is, as previously stated, extremely safe and secure. The platform is regulated by the Financial Conduct Authority that ensures very tight security and full enforcement of strict laws and regulations, making the platform a safe and reliable place to exchange money.
Pros: Widely Used By Masses.
As mentioned earlier, approximately 40 million users use Skrill worldwide daily, which says a lot about the platform’s reliability.
Cons: Verification Can Be Time Consuming.
The verification process has been criticized in many Skrill wallet reviews. These complaints are, for the most part, unjustified.
After all, it’s the law, and the rules are in place to protect people and ensure a secure environment. However, if you run into a problem, it may take some time to handle it thoroughly, which becomes a problem.
You must produce a picture ID, such as a driver’s license or passport, as well as a utility bill as proof of address to complete the verification process.
Cons: Customer Service Is Limited.
Skrill doesn’t have a Live Chat feature. Although a chatbot named Sofia is available, you will not be connected directly to a customer service representative. This is because this service is only for the current subscribers.
If you want to chat over the live chat option, enter your registered email Id and sign in to the account.
Skrill believes in confidentiality. Even though the platform has partnered with many binary brokers, they have never made a compromise with their policies and the traders’ security.
Thus, one doesn’t have to worry about their confidentiality and personal account info when using it, as the platform doesn’t reveal anybody’s information to the broker in any scenario.
IQ Option trading – Tutorial for beginners.