How to make fast money trading on binary option as a form of passive income
Having a passive income in this day and age gives you freedom of time to pursue your dreams and do the things that you love to do and not just working to pay the bills. Having that extra source of income can drastically reduce your anxiety and fear of the future and give you a platform for financial growth and stability. The best part about having a passive income like trading on binary option is your ability to live and work from anywhere in the world and at any time convenient for you.
What is Binary Option?
Binary options are simple to understand and make them a popular choice for low-skilled traders. A high-low or fixed-return option is the most commonly traded instrument that provides access to stocks, indices, commodities, and foreign exchange. Such options have an expiry date, period and strike price clearly stated. If a trader wagers correctly in the direction and price of the market at the time of expiration, he or she is paid a fixed return regardless of how much the instrument has moved since the transaction, while the original investment is lost by an incorrect wager.
In multiple global markets, binary options let traders benefit from price fluctuations. Binary options have little similarity to conventional options, offering varying payouts, penalties, and risks, as well as a special liquidity and investment structure.
A binary option automatically exercises ensuring that the trade gain or loss is immediately credited to or debited to the trader’s account when the option expires. This means that any money made from trading a binary option would instantly be credited to your trading account.
Trading on binary options is becoming an increasingly popular form of trading in the financial markets. They offer a way to trade a wide variety of financial assets across multiple markets and offer greater reward in a shorter period of time to regular investments.
How does it work?
Brokers like IQOPTION have made trading binary options as simple as possible in order to speed up the process from your initial deposit to getting started. There are only a few steps that are involved including choosing the financial asset you want to trade, select the amount you want to trade and the direction in which you think the price will go. Then select the expiry time and sit back and wait for your options to expire. A few clicks and you are done. If the outcome of the trade is in your favor then you typically stand to gain a high profit.
For example, if you predict that in 10 minutes the exchange rate of EURUSD will go up and purchase a CALL option on EURUSD, setting the expiry time for 10 minutes, you will get a profit if your forecast comes true.
Your initial deposit can be as low as $10 and the minimum amount per trade is $1 with a profit as high as 96% per trade depending on the asset you are trading on. This means that if you that if you purchase a $100 call or put option for any financial asset, your profit could be as high as $96 within minutes if your prediction is right. The time for trades vary from less than 0ne (1) minute to more than ten (10) minutes. Giving you an option to trade for very short periods of time and make high profits.
How to get started
You can click on the link below to register for free and start trading with a practice account with $10,000 to increase your prowess before trading with actual money. This practice accounts allows you to trade on assets in real time without the risk of losing any money until you feel you are ready to deposit actual funds and start making money.
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