In the simplest of terms, binary options are a digital representation of real world assets. Those assets can be any number of things: from stocks in global companies such as Apple, Google and Amazon, through currencies such as the Dollar, Euro and Yen, along with Indices such as the Dow Jones, Nikkei or FTSE all the way to precious commodities such as gold, oil and others.
In real world stock markets, those assets are traded by individuals as well as large corporations, and millions upon millions of dollars can change hand in an instant, but it doesn’t have to be like that – and that’s where Binary options come in.
Binary options were designed from the ground up with the beginner trader in mind, someone who simply wants a way to earn a respectable additional income without resorting to any gray areas.
With binary options trading one doesn’t need any extensive confirmation processes or business associations with well-established brokerage firms. All it takes is a computer through which you can log on to a site, fill in your personal information and a means of deposit (typically a credit card). Once you’ve done all that, you’re free to start trading; it’s as easy as that!
In addition to all of the above, ICoption provides you an extensive network to enrich your knowledge – before, during or after trading.
Once you feel that you’re ready to start trading and making some extra money, you simply log into the site, go on our trading platform and you can select one of the many ways to trade, assets, expiry times & dates and assortment of ways with which you can profit.
Let’s take for example the price of oil – you can go on our platform, select the default trade type, and put in a $50 investment. Now you have to decide the length of the contract, which can be minutes or hours. Assuming you selected one hour, you need to use your knowledge of the field to decide if the price level for oil will rise, in which case you should click on “call”, or if it is about to decline, in which case you select “put”.
Next is possibly the most difficult part – waiting for time to expire. Once the clock strikes 0 and time runs out, you’ll be able to tell if your investment fell through or if you have made a profit.
This may sound intimidating at first, but trust us – it gets much easier over time, and if you invest yourself in learning how markets behave and how you can invest better, using the tools we provide as well as your own knowledge – you can turn binary options trading into a highly profitable second line of employment.