Referred to by a variety of name including cash-or-nothing options, Digital Options or all-or-nothing options, binary options are a relative newcomer in the world of investment, but this method is catching the attention of beginner and advanced traders alike. Considered by many to be much simpler and more straightforward than other trading methods, binary options involves the prediction of whether a particular option will increase or decrease in value over the course of a particular period. Investors make their prediction and then wait for the expiry to find out if they have collected a profit or lost their investment.
TraderXP is a simple-to-follow, novice-friendly binary option trading platform that offers an easy process for getting involved in the exciting world of binary options.
Binary Trading with TraderXP
Becoming a part of these “exotic options” is as simple as opening an account, making a deposit and choosing an asset. Here is the process:
• Select an asset that is interesting from the hundreds offered on the platform
• Choose “Call” to predict a rise in asset price by the expiry
• Choose “Put” to predict a decline in asset price by the expiry
Once the decision has been made, the trader simply waits for the expiry and collects his profit if his trade was successful. Traders using this platform also have the opportunity to use one touch trading. This form of binary trading shows the trader which direction the asset has been trending and allows the trader to predict whether the option will reach, or “touch”, a certain price point during the trading time. This is not a prediction of which direction the option will move, but rather how far it will move in the set trading time.
Benefits of TraderXP
Novice and advanced traders alike are finding the binary option model of trading extremely appealing as a way to either get started in the investment market or expand their portfolios. Some of the advantages of choosing binary option trading on the TraderXP platform include:
• Trader Education and Support-tutorials and an extensive support network offer everything new traders need to know in order to get started with binary options. Users have the opportunity to explore different strategies and select one with which they are most comfortable. 24/7 chat availability means that traders will always have access to knowledgeable TraderXP personnel to help guide them along.
• Flexible Time Frames-binary options are constantly coming available, meaning traders do not have to limit their trading activities to only set points. Users have the opportunity to trade within multiple trading periods to take advantage of staggered expiry times.
• Simplicity-as opposed to other forms of trading that require extensive market knowledge and the ability to predict fluctuations extremely accurately, binary option trading simply requires a prediction of increasing or decreasing value or, in the case of one touch trading, the extent to which the asset’s value will move.