A lot of people in Singapore have decided to engage in binary trading and are enjoying the benefits of quick returns and high profits. This is because binary trading makes the most of short-term market movements, allowing traders to make modest to huge returns within a short period of time.
Investing your hard-earned money is very important if you want to grow wealth and become financially successful. There are different ways of investing your money. One of the most lucrative of these is binary options trading.
The term binary options simply implies that a trader has 2 options when trading. The options are estimates of the performance of certain underlying assets within a given time frame. In normal trading, investors often buy an asset then strategize on selling the asset at a profit. However, in binaries trading, there is no need to buy the actual underlying asset but simply to determine its performance.
Who is a broker?
A broker is an experienced professional who places trades on behalf of clients. If you wish to trade in financial instruments such as stocks, shares or options, then you need to talk to a broker. You can conduct trades on your own through trading platforms based in Singapore or you can use the services of a broker. You can gain access to the main trading platform via a broker and the online site.
Methods of deposit and withdrawal
Many people in Singapore are trading in binary options and have opened online accounts to allow them to trade. Once you open one, you can use a credit card, debit card and bank account to fund it. You can withdraw your earnings via wire transfer to your bank, through popular online payment platforms such as Skrill and others like CashU, Neteller and by use of Web Money.
Types of deadlines
There are basically 3 types of deadlines. There are the short ones which last between 1 and 5 minutes. Then there are the medium term deadlines range in 5-minute time frames and last between 1 and 5 minutes. They have the potential of being more profitable. Lastly are the long maturities. They last between 2 and 24 hours. 24Option platform has a 60 second, 2-minute and 5-minute deadlines.
Popular platform in Singapore
There are a number of binary options trading platforms in Singapore where investors can place their trades. One of these is IQ Option. Here you will find platforms such as 24option and BANC DE BINARY. They are all great platforms but have different requirements. 24Option offers a maximum return of 85%. The minimum trade allowed is $24 while the minimum deposit required by the broker is $250.
Binary Options in Singapore are regulated by the financial services sector of the Singaporean Government through the Monetary Authority of Singapore, MAS. Different brokers and brokerage firms also have their own qualifications and certifications. The broker platform 24Option has FCA and CySEC certifications. Such certifications and oversight by financial regulators help to protect investors and traders so they can trade without worry.
If you make some money trading on the platform, then you can transfer your earnings to your bank account. All you have to do is wait for the processing of your earnings to your bank. You can then go to your bank and withdraw the money.
A Demo account allows interested clients to have a virtual account where they can trade using virtual money in order to enable them get a feel of the real trading platform. After trading on a demo platform, a client may be ready to get on the real trading platform.
It is important to get a good demo account so that, as a trader, you get a chance to practice and hopefully master the art of trading binary options. A demo account also enables you learn and master the different trade tools. These tools are important in helping determine when to trade and which binary call to make. Without a demo account, traders may not trade so well initially and may even lose money.