What are binary options?
Many times, while going through the articles, blogs or anything on trading you come across binary trading options. Binary trading is based on the prediction of the future. People predict the rise or the fall of the value of assets like gold, buildings, etc. More like betting than an investment, if your prediction about the increase in that particular asset luckily becomes true you earn on the profit, but in the opposite case, you lose all the money.
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Is it profitable?
Usually, in the binary trading industry, the brokers set unrealistic expectations of the person spending the money on it by showcasing examples of people who earned a lot from binary trading but, like betting, it has the chance that you may lose all the money.
The question commonly asked: is the probability of losing all the money that high? It depends on how much you have prepared for it. You have to be updated with the all the happenings in the world regarding the asset on which you will be predicting. You also would have to be updated with the country variables and many other variables which may affect the market for that particular asset.
A financial gamble
In truth, considering all the information needed to make the right prediction it is extremely risky, and you can never earn money by randomly placing bets on different assets. You need to know the basics of trading as well as even have any chances of predicting the profitable truth.
2017 has brought its changes
Social trading is a part of the binary trading system now, which was lacking before. You can now see what the veterans of this trading industry are doing and follow them to keep your chances of making the right bet higher. Also, many companies have emerged which allow customers to invest with very successful brokers of the industry, with the due cut of that broker, you have a better chance at earning money in this industry.
On the opposite side of the fence, there will always be the chance that you may lose all your money that’s why you have to choose wisely. For one, you have to choose a broker that is not a scammer, and the other thing you have to do is pick a broker who can give you the maximum chances of winning.
-Binary options robots
2017 has also brought the boom of binary options robots. These robots are claimed to make the right prediction for you and give you very high chances of winning. If you are thinking that with this robot, you have found an easy way out of learning the basics of trading and earn money; that is exactly what is expected of the naïve customers who are caught like fish in the net of their scam. So it is better to avoid a binary options robot as it mostly a scam.
-Easier information access for advanced traders
Now the platforms are available for making wise decisions for the advanced traders. The information is easily available, and there are many ways with which one can get comprehensive knowledge of what is happening in the world of assets and trading.
The binary trading is an industry, not a scam, which is also growing rapidly. But for new traders, it can be risky, for which the new traders should have the basic knowledge of trading and keep their eyes open for scams.