Everything you want to know about Binary Options

More and more people are now taking Binary Options trading seriously as it is one of the easiest ways of trading and you don’t even need vast experience of the field to starting making profitable trades. On the other hand, it is easy to learn how to do Binary Options trading and even easier to make some profitable trades but surprisingly it takes a lot more than that to make it profitable for a long time. Following are some things you must know about Binary Options trading to be a successful trader.

Is it legal to trade Binary Options?

Yes, it is perfectly legal to trade binary options with the help of a regulated broker. Binary Options trading was introduced in 2008 and it is regulated by CFTC in USA while other countries and regions have their own regulation body and authorities to deal with these trading, although you shouldn’t use an unregistered platform or website for Binary Options trading.

What type of asset I should choose?

Different brokers, websites and platforms offer different kind of assets and you should choose one of your preferences. Although you don’t necessarily have to know about those assets and other forms of trading to do Binary Options trading but having prior experience and knowledge about a particular asset gives you a significant advantage over other traders and the situation itself.

For example if you know about gold and silver market and you know what are the important factors that influence gold market as well as its prices then you can make more profitable trades considering that knowledge and experience you have. The same goes for other assets like Forex and stocks where you can use experience to be successful.

Types of assets used in Binary Options

There are many kind of assets used in Binary Options trading that depends on individual broker, platform or the website. Some of the most common and widely used assets are Indices, Forex, Commodities and Stocks. Let’s talk about these assets briefly.

Forex as an asset

This is one of the most popular and widely used asset type used in Binary Options trading because it is easier to learn. People who have no prior knowledge or experience of the field mostly use Forex as an asset in start.

Indices as an asset

Indices like NASDAQ are also available as an asset in Binary Options trading but because of the complexity involved in the, most of the people opts for other asset types like Forex and stocks.

Stock as an asset

Most of the brokers offer stocks of major companies like Google, Apple and Coca Cola while some reputed Binary Options brokers offer up to 50 different companies’ stocks that you can select.

Commodities as an asset

Commodities like oil, gold and silver are also used in Binary Options trading while depending on your geographical location and the broker, there might be some other commodities like corn to trade.