Binary options trading is becoming more and more popular each year. The number of websites that broker binary options trades now numbers in the hundreds from what was once just a handful of internet brokers. Investors like to trade them because they are easy financial instruments to understand and they are easy trades to execute also; it is the very reason that they attract beginner financial investors and veteran market traders alike. If you are an investor that has never traded binary options before and would like to give it a try, here are the steps you should take to open a binary options trading account.
Recommended Binary Option Brokers:
|Banc de Binary|
|CherryTrade||US traders accepted|
First of all there are a few things that you need to be aware of as far as binary options trading is concerned. One is that binary options trading is 100% internet based market trading and it is done worldwide. It can only be done by signing up with a web broker that specializes in this type of market trading. Not every broker can be traded by everyone in any country either. You should learn the basics of binary options trading before looking to sign up with any web broker to ensure you know what you are looking for in the broker that you will trade with.
Step 1 – Choose a broker you want to trade on
As it’s already mentioned there are literally hundreds of brokers out there to trade with. There are no standards for brokers so each one tends to offer a little something different to potential traders. You need to narrow down the potential brokers on your list by choosing ones that have the features that you like.
Some brokers will offer generous signup bonuses while others will stress the fact they pay high returns on investments. There are others that will say their web platform is the best one to use and they will provide you with all the learning tools you need to be successful. A factor in the broker you will choose might also be which one offers the lowest minimum investment on a trade or which one requires the lowest minimum deposit to start trading. So it is up to you to determine which one works for you and then look into that further.
Step 2 – Fill out a form
Due to the fact there will be banking transactions involved, when you join a broker to trade with you will have to fill out a short form to prove your identity. Many brokers will also ask for a scan of a government issued ID, a scan of your credit card and a scan of a utility bill to prove your address.
Step 3 – Make the minimum deposit
Once you have filled out the information form and have been approved for trading the next step is to make a deposit in your account so you can start trading. All brokers have a minimum deposit (it is around 200$) requirement but that does not mean you can’t deposit a higher amount.
Once you have made your deposit your account will then be open for trading. Good luck in your investing!
The easiest way to make profit is to use a good automated binary trading software: