Q&A for How to Trade Binary Options

Return to Full Article

Coming soon

Add New Question

Question

How do I choose the best broker?

Alex Kwan
Certified Public Accountant
Alex Kwan is a Certified Public Accountant (CPA) and the CEO of Flex Tax and Consulting Group in the San Francisco Bay Area. He has also served as a Vice President for one of the top five Private Equity Firms. With over a decade of experience practicing public accounting, he specializes in client-centered accounting and consulting, R&D tax services, and the small business sector.

Alex Kwan

Certified Public Accountant

Expert Answer

First, engage with brokers offering demo accounts to practice trading using virtual funds. It's an invaluable tool to familiarize yourself with their platform and fine-tune strategies without financial risk. Second, focus on brokers that present competitive payout percentages. These figures should be transparent and tailored to various assets and time frames. Understanding these dynamics is paramount for aligning with your unique trading approach. Finally, scrutinize the diversity and accessibility of assets facilitated by the broker. A robust selection of assets not only broadens trading opportunities but also signifies the broker's alignment with global financial trends and their commitment to a comprehensive trading experience.

Thanks! We're glad this was helpful.
Thank you for your feedback.
If wikiHow has helped you, please consider a small contribution to support us in helping more readers like you. We’re committed to providing the world with free how-to resources, and even $1 helps us in our mission. Support wikiHow
Yes No

Not Helpful 0 Helpful 1
Question

Is the Fx77 option a reliable platform to trade binary options?

Asadrussel

Community Answer

The Fx77 is not reliable, instead of this you should go trusted and famous binary options trading brokers like IQ Option.

Thanks! We're glad this was helpful.
Thank you for your feedback.
If wikiHow has helped you, please consider a small contribution to support us in helping more readers like you. We’re committed to providing the world with free how-to resources, and even $1 helps us in our mission. Support wikiHow
Yes No

Not Helpful 3 Helpful 11
Question

How many trades can I make?

Community Answer

There is no limit.

Thanks! We're glad this was helpful.
Thank you for your feedback.
If wikiHow has helped you, please consider a small contribution to support us in helping more readers like you. We’re committed to providing the world with free how-to resources, and even $1 helps us in our mission. Support wikiHow
Yes No

Not Helpful 0 Helpful 9
Question

Where do I get training for this binary trade?

Donagan

Top Answerer

There are many online trading courses available. Just search for "binary options trading training."

Thanks! We're glad this was helpful.
Thank you for your feedback.
If wikiHow has helped you, please consider a small contribution to support us in helping more readers like you. We’re committed to providing the world with free how-to resources, and even $1 helps us in our mission. Support wikiHow
Yes No

Not Helpful 1 Helpful 12
Question

How is this different from regular options trading? Payouts of regular options are also binary at expiration.

Donagan

Top Answerer

The two are quite different. A regular option involves buying the right to purchase a security or other asset at a predetermined price at a given time in the future. There is no payout. A binary option is nothing more than a prediction that a specific condition (often a particular price) will exist at a given point in the future. If the prediction proves accurate, there is a payout.

Thanks! We're glad this was helpful.
Thank you for your feedback.
If wikiHow has helped you, please consider a small contribution to support us in helping more readers like you. We’re committed to providing the world with free how-to resources, and even $1 helps us in our mission. Support wikiHow
Yes No

Not Helpful 0 Helpful 1