In the past couple years the spread of websites offering binary options trading through their own platforms has sky-rocketed, and now these South Africans buying into the trend are seeing results.
Binary options providers and Forex Trading
A large amount of binary options traders make multiple thousand dollars per month doing day trades, with this number only increasing as the larger number of investments increases.
Despite its risk, it’s a fun, and exciting way to make more rands in a shorter amount of time than others do the entire month.
To put it simply, trading binary options could change your life.
Binary options Trading vs Forex Trading
Even with the two forms of options trading being incredibly similar, they are still two drastically different things.
Binary options is an easier choice for those without a larger amount of money to trade, as more often than not you can make a minimum trade for around 100 Rand. As well as this, when you do make a trade, your price is frozen. This means that the pips on your asset do not move.
It has a fixed expiry time, which makes shifting to other trades easier.
This differs with Forex.
Forex trading requires a higher amount for trading, and the pips are subject to a possible spread.
A spread means that when the trade is first placed it registers a second or so later.
This means that more often than not traders need to make up for a minimum two pip spread, potentially losing money on the trade or having to give it for commissions.
There is also no expiry time for your asset, which can drag out your investments if you are not careful.
The Advantages of Binary Options
Unlike Forex, which requires years of study and a possible college education, Binary Options trading is much easier and doesn’t require any experience to begin.
Many platforms allow you to trade through them also offer many benefits as well, with some of the websites we link offering cash bonuses, as well as a lowered commission percentage. Often times these bonuses match the deposit that you place originally, and strengthen the initial power of your investment.
With fixed expiry times your bids will be more organized, and more often than not, suggestions will be offered on what trades to make, and when.
Websites offering trading platforms for binary options, such as the ones we provide, indicate to you which trades are either a strong sell, or a strong buy. Listening to these hints, as well as your research, can prove to be a predictable method of success.
With binary options offering an eighty percent return rate upon success, even a small investment can quickly grow into something more if done correctly. This is how traders are able to make large amounts of money in a relatively short amount of time. All it takes is studying the market.
With the knowledge you learn through trading binary options, it opens you up to having a base level of understanding for other investments. This could potentially lead to forex trading as well.
The future of Binary Options in South Africa
As the popularity of binary options grows, governments world-wide are introducing regulations to protect its citizens working with these type of investments.
Currently in South Africa no regulations exist, leading to a limitless opportunity for the traders willing to take the risk. When this changes in the future, with an already established market, the strength of the binary options market has never been greater.
For these reasons, it’s easy to see how thousands of South Africans are making their living doing day to day trades.