Trading Binary Options favors new traders
Why binary trading favors new traders
When forex trading was first introduced to the masses, it was widely considered the newbies discipline. Trading the forex market was considered accessible to everyone because it had less constraints. You could open an account for a few hundred bucks, and you could trade it using fairly easy to read charts, from home, whereas stock trading required you to have at least a few thousands of dollars and sometimes trade from the exchange itself.
In comes binary. Binary trading is now the new forex trading. New traders favor binary trading over anything else for many reasons, and they are right to do so. Lets see a few of those reasons here.
Binary trading is extremely easy. You dont have to bother with risk management, stop losses, counting trade size, converting in lots, and all that. You pick an amount youre willing to risk, pick a side and press a button. Everything is done, there is nothing else to do.
You can literally start trading with a 10$. Some brokers allow you to deposit ridiculously small amounts to trade. They have made trading accessible to virtually anyone by doing so, and thats why new traders like to join binary brokers over forex brokes. They can deposit a few bucks and start trading in a matter of minutes.
You know what youre in for. If youre risking, say, 10$ on a trade, you know exactly what youre going to lose if you lose (10$) and what youre going to win if you win (a percentage of 10$ set when you placed the trade). There is no slippage, no extra cost, no commissions.
Its fun. A least its a lot more fun than trading forex on weird charts. Binary trading almost looks like a game, but a game that can make you a lot of money.
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