Binary Options in Kenya
What is Binary Option?
A binary option is a contract according to which the conditions are negotiated in advance. The trader makes a profit if the agreed conditions are met before the specified time expires. Binary options can be traded on a variety of assets (stocks, commodities, currencies, indices and even weather).
A binary option is a financial option in which the win is a fixed amount of money or nothing at all in the event of a loss.
The simplest example that can be given is when you are trying to guess how the price of silver will behave in 20 minutes. For example, you are betting on a price increase. And if, after 20 minutes, the price is at least 1 pip higher than the original price, you win and receive your stake plus a premium of roughly 60% to 85% of your stake. If the price falls, you will lose everything.
There are quite a few options for binary options, but the idea is very similar and the nature of this trade will fluctuate depending on the type of binary options in which it is involved. One of the most popular types is described in the example above. It's called "Up - Down". You are simply assuming that the price will be lowed or higher by the specified time. There is also a variant of the "Spread" type, where you need to predict how accurately the value will rise or fall. Another option is to guess if the price will touch any point within a specific time range. This option is called "One Touch". Etc.
Analysts advise starting with the simplest type of trading.
Market players can trade around the clock as they can enter and exit the market at any time. This makes the options market quite convenient for traders, as it allows them to make regular profits. Some people choose to trade binary options because of their passion for finance, some because of their excitement, others because of the large profit they receive from it. Many analysts call it roulette, but with trading knowledge and working with a specific strategy, you have a much better chance of winning. However, remember that the future is often outside the control of strategies and the market, and prices can change very quickly.
Binary options trading can bring you good profits. The percentage that you can get in case of winning is on average from 60% to 85%. Agree, very attractive, especially since you just need to guess. Many gamblers do not understand trading, market trends and simply bet at random and win. But, of course, you should not rely only on luck, we advise you to get at least a minimal education in the field of trading to study the conditions, for example, what is the validity period, investment strategy, etc., so that you feel confident in the field.
Expiration is the process of completion of the circulation of futures contracts on the securities market. The word itself comes from the English expiration - end, expiration.
Another advantage of binary options trading is that it allows you to manage low risks. Your loss is always known and will not exceed your stake. This way, you will be able to understand in the short term how much you can lose. This approach is very popular among both beginners and experienced traders who do not want to wait for months for the result of a trade.
Another reason a dealer can invest in binary options is because they have many advantages over traditional trading instruments. Traders who have adopted binary options have a lower level of risk compared to those who stick to traditional trading markets. For example, with a conventional option, the dealer can risk a large amount of money by simply taking one share, for example Amazon. But traders trading binary contracts shouldn't risk that amount of money. This is because they make trades several times a day. This means that the amount they receive from each transaction is significantly higher than the amount they receive from traditional transactions.
Many sites also have forums where you can chat with other traders and professionals. You can also learn more about binary options on the online sites of various brokers, for example, on our platform.
How does a binary option work?
Binary options are a popular investment vehicle due to their simplicity, speed and low risk. They are successfully traded by hundreds of thousands of dealers around the world. Trading them online has become even easier than many agents have started providing binary options services on their websites. This allows even those people who know very little about investing and trading to start trading binary options.
Since there are many strategies that can be used in binary options, it would be a mistake not to try your luck with trading. The most important thing a trader has to do is set a time limit that he wants to use for his binary contract and understand how much he is willing to lose if things go wrong. This is necessary in order to be able to stop in time and not risk all the assets.
Strategies are developed for a specific expiration time. There are turbocharged ones for 1-5 minutes or ordinary ones, oriented for a longer time.
In fact, each strategy needs to be tested on different assets, and only personal experience can tell which strategies are the best.
Be sure to study the terminology and types of indicators and charts for binary trading. For example, many people find a candlestick chart convenient. Which shows how the price behaved for a certain period of time. By evaluating it, you can see the trend and buy the option based on this.
Candlesticks are a type of chart in which the price is displayed in the form of bars (rectangles), each of which denotes a certain time interval.
Binary options belong to the category of financial assets, therefore their analysis is associated with the use of special instruments. The economic calendar includes all news related to the selected assets. Each news item can significantly affect the price. Indicators such as Bollinger Bands, Stochastic, MACD are necessary for analyzing trends and understanding further price movement.
There are a number of online brokers that provide binary options services. It is very important for the dealer to do his homework before starting work. He should read about binary alternatives and find a clear understanding of how they function. With this knowledge in hand, he will be able to make more informed decisions and thus make more profit from the binary choice.
Newbies are often looking for an effective, break-even system and even agree to pay for it. Advertisements in which a supposedly successful broker says: “I will sell an iron strategy” is often found on the Internet. But buying this is risky. You can run into a scammer, lose money. Drainage strategies are often sold on the Internet under the guise of profitable ones. Therefore, it is better to sing everything yourself and gain experience on your own!
Finally, dealers who are new to binary options can gain good practice and knowledge by participating in a demo account. The advantage of this is that they have to take part in real transactions without any loss, and they can learn more about how the system works. It is important, however, that dealers understand that they need to be able to control all the actions they have taken during the demo so that they can make decisions when they trade the actual contracts. Thus, they will be able to avoid costly mistakes.
How to start trading binary options in Kenya?
For those people looking to start trading binary options in Kenya, there are two approaches to getting started. The first one involves opening a demo account for trading binary options, and the second one is opening a real account. Our brokerage platform in Kenya provides our clients with demo accounts. To open it, customers need to go through a free registration procedure in order to receive quite a few additional offers, such as their own application for a PC or smartphone, access to all the necessary information, video tutorials, FAQs, etc. After registration, customers can receive a demo account and work out trading decisions and strategies through the provided platform.
Our platform is capable of displaying all relevant information, including the price of a particular option, when a customer places an order. This information is displayed on a virtual trading platform that clients and traders can use to plan their trades. By launching a demo account, traders can learn more about how many features of the applications used by the broker are working. They can also explore how their approaches affect trading results. We will provide you with $10,000, this is a virtual amount, with its help you will not be able to make a profit, but you will not risk anything either.
After creating an account, you can place open orders using the platform. You can then track your binary options trades using the online transaction log.
Also, you can immediately open a real account, especially importantly, you can open it with a small amount of $10. With such a small amount, you can start earning right now. Try it and you will definitely succeed!
When planning a binary options exchange in Kenya, traders may be tempted to place orders using their credit cards. This can be a fantastic method of doing business, but it can also be disastrous. Trading with credit cards comes with inherent risks that must be carefully considered. This is especially true when the trader is completely new to binary options trading and does not have much experience to return to.
Trading platforms are easy to use. Dealers only need to make one purchase decision, and that choice can be made at any time. You need to learn a few terms used in trading such as call and put options, option strike price, expiration date, risk level, currency pair, long-term option, and so on. Learning is never superfluous, and you should get information from all sources!