Binary options trading has been recognized as a profitable opportunity almost since it first appeared on the market in 2008.
Traders all around the world were quick to size up on this lucrative possibility and South Africa followed suit.
In this article we shall highlight the most important aspects of trading binary options is South Africa as well as some general tips and tricks on how South African traders can improve their trading skills and gain profits.
Popularity of Binary Trading in South Africa
As we have already pointed out, binary options trading became publicly available on the global market in 2008 and it soon became a very popular and lucrative opportunity for South Africans.
They were quick to realize this modern, innovative way of online trading can also be a fantastic way of making money.
By engaging in binary options trading South Africa traders are in a position to use various trading instruments, tools and features provided by binary brokers to their advantage.
Due to simplicity and straightforward trading process, binary options have been recognized as a handy way of maximizing the profit.
Another attractive feature of binary options trading is the fact that this manner of trading is available to all traders regardless of their experience or knowledge.
However, just because something is simple it should not prevent South African traders to learn binary options trading terminology or consult numerous helpful and informative articles, both on line or in educational materials provided on most broker platforms.
By combining those elements with the binary trading experience and confidence which always comes with it, South African traders will be on a good track to reap profitable benefits.
Binary Options Trading
The appeal of binary options trading South Africa is not just in high profit possibilities but also in amazing simplicity of the process itself.
The basis of binary options lies in only two likely outcomes – up or down.
The “up” or “down” refers to the movement of asset price on the market.
Basically, South African traders have to decide, based on the current market situation, if the price of the asset they wish to trade is more likely to rise or fall.
Once they have reached a decision they have to place a trade.
Another fantastic feature of trading binary options is that South African traders know, beforehand, how much they stand to gain profit wise in a fixed time period.
There are fair amount of trustworthy, reliable brokers in binary options trading South Africa which provide their registered traders with a fine selection of trading options and varied underlying assets which are generally slotted into four distinct groups: stocks, commodities, currencies and indices.
By investing some time into educating themselves via various materials provided on the broker trading platforms, South African traders will gain more knowledge on how to use various strategies and trading instruments which can improve their payout considerably.
Key Aspects in Binary Options Trading South Africa
Binary options trading in South Africa is also popular due to the fact which we briefly mentioned above – a fixed payout. This is valuable information which south African traders can use in their money management plan since knowing beforehand how much one stands to gain or lose is an important information.
To instigate the binary process itself, all binary options traders in South Africa have to do it to register or log in on the trading platform of the preferred broker.
After that they have to select the desired underlying asset as well as the trading option they wish to use and the expiry time. Traders are always presented with a selection of underlying assets, expiry times and trading options.
High/Low and 60 Seconds are still the most used binary trading options, but traders can also use Ladder Options as well as Boundary, Touch, One Touch or No Touch Options.
After setting on a specific option South African traders also have pick the expiry time too.
Now, this is heavily dependent on the specific trading style of the traders as some prefer to play safe and go for longer expiry times while others prefer a riskier approach and trade short expiry times.
Different binary options brokers have different expiry times but generally speaking what South African traders encounter are expiry times ranging from 60 sec to 2 min, 5 min, 15 min, 30 min all the way to 1h, 24h, 24h+, End of Day, End of Week, End of Month and even 150 days.
Underlying assets South African traders can choose from is dependent of the current financial situation on the market as well as the personal preferences of the trader.
Traders are advised to always follow the latest market news and updates to keep track of what is happening so as to adjust their trades accordingly.
Selecting a Trustworthy Binary Options Broker
Binary options brokers are abundant on the market, both global and South African, so it might be a bit tricky to choose a broker which will enable a positive and profitable binary options trading experience.
This is where broker review on sites such as this one come into game. By reading on various brokers present on the South African market traders can gain a valuable and detailed info.
Safe trading process, reliable and secure trading platform as well as various safe payment methods are very important so looking into those aspects is a must.
Brokers like IQ Option, Banc de Binary and 24option are all binary options brokers which have been present on South African as well as global market for years now and have many satisfied traders as customers.
Looking into a customer support service and trading tools and features is another element worth inspecting before South Africans settle for a broker.
By following the advice given in our trading binary options in South Africa article, traders stand a good chance of having a positive, profitable binary trading experience.
And that is the ultimate goal of binary options trading in South Africa.
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