In order to trade with binary options, you need a trading platform. This is a form of software that allows you to invest live in the binary options market. Trading platforms are available from online binary brokers.
Previously, when binary options trading first began, traders needed to download platforms and install them on their computers. They would then use them to complete their trades. This methodology offered numerous drawbacks. For one thing, it is inconvenient to have to make alterations to your computer in this way. Especially seeing as there’s a risk of infecting it with a virus from a less than reputable operator. Another important point is that you would have to be at your own computer in order to log in and trade. Thirdly, these downloadable trading platforms were not available for tablets and smart phones.
For all of these important reasons, it is great news for all traders that binary brokers now offer 100 % web-based trading platforms. You simply log in and trade online through the broker’s website. There is no need to install anything, and you can access your trading account to complete binary trades from anywhere, including on handheld devices.
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You first have to open an account with a binary options broker before you can access their trading platform. You will find a lot of helpful information about how you choose the right broker for you by reading our many articles on the subject. Once you have an account, you simply log in. Among the options you will be faced with next will be “Trade,” “Trading Platform,” or something similar. Simply click to go to the platform.
The trading platform is very easy to use, and comes with simple instructions. Anyone can learn how to complete trades using a modern binary trading platform in no time at all. Should you none the less experience any kind of trouble, all binary brokers offer highly professional support staff that can assist you.
There are differences between trading platforms offered by different binary brokers, but generally speaking they are very similar. The functionality and layout are usually almost interchangeable.
The trading platform will offer you a range of options. You can choose among the different kinds of binary options such as High or Low, One Touch, Boundary Options, 60 Seconds, and so on. To start trading, you choose one. Thereafter you pick an asset to base the option on. Finally you make your prediction as to the future price movement of the chosen asset, and specify how much you would like to invest. That’s it: you have completed a binary trade.
The trading platform will display all relevant information for your binary option. Usually there will be a separate panel where you can follow the status of any ongoing trades. You will be kept abreast of how the price of the asset you chose develops during the option’s running time.
Trading platforms will also offer a host of advanced trading options like Rollover, Double Up and so on if your broker offers such features. All in all, your trading platform has everything you need in order to trade successfully in binary options.