In South Africa, binêre opsies (binary options) are one of the fastest growing portions of the financial sector. They have a lot of potential for helping you grow your money, but they are not without risk. If you’re going to trade in South Africa, then you need to know the basics about options, and what to look out for.
Pick the Right Broker
There is no South African regulatory body when it comes to the governance of binêre opsies. If you are going to trade options here, it is strongly advised that you check that the broker you are looking at is under the jurisdiction of a regulator somewhere. CySEC, which is located in Cyprus, is one of the most widely used regulators and has a very strong reputation. A regulated broker will help protect you from scams. Although scams are rare, they do exist, and you can lose a lot of money just by making a bad choice or two. You should do some research on the brokers that you are considering using, and checking out if they are being regulated or not is the first step in this process.
Next, think about what assets are offered up for trade and the rates of return that are given. All brokers offer currency pairs, but not all will offer the South African rand in their pairs. If you want to trade this, spend the time and energy to get a broker that has it available. If a broker has few assets to choose from and poor rates on correct trades, pass them on by. There are many great brokers out there that have competitive rates, so don’t settle for something subpar. You should expect at least 78 percent in returns on an average 15 minute expiry, and although there’s not a set number on how many assets they offer, you should have no trouble finding the assets that you are most interested in. There should also be room for expansion if you ever decide to trade something else.
Finally, look at the other types of options that are offered. Pretty much all brokers offer call and put options, but many offer exotic trades like one touch options and boundary options, too. Many also offer 30, 60, and 120 second options, if you’re looking for something more fast paced. These choices do have benefits, although they require more experience to succeed with. The right broker should not just meet your needs now, but leave you with plenty of room to grow as a trader, too.
Nail Your Strategie
Having a great trading strategie is the “secret” to success with binêre opsies. In this respect, it’s not really a secret at all, but rather the result of having put a lot of hard work into improving your methods. There are a lot of ways to go about doing this, but there are a few that work better than others.
The first is practice. If your broker has a demo account, use it. Getting practice with your trading in real time with the software that you’ll always be using is the best way to get experience without the risk of using real money. A lot of people find this boring, but most of those people lose money trading. You don’t want to lose money, and the best way to do so is to gain the skills without losing the money doing so. To find out if your broker has demo trading, just contact their customer service department. They will point you in the right direction.
Next, take strides to improve your ability. Read trading and strategie blogs. Watch YouTube videos posted by experts. Take a class or two to expand your skill set. There are plenty of free resources out there that are very good, and many cost effective paid courses that will help you once you get past the beginner level. If you want to become a better trader, then you need to learn from the experts and not settle for good enough. The best are always growing and learning.
Finally, consider the use of a seine diens (signals service). A strong service will give you expert advice on what to trade, how, and when. For example, their professional grade software might detect that if the EUR/USD crosses a certain point, that a 15 minute put option is the right move. They will send you that alert, and then you will go to your broker and execute that trade at the right moment. This is a great tool for busy people.
Or, you might find that you’re even too busy for this. That’s perfectly acceptable, and there’s a tool for you, too. A trading robot can fully automate your life here. All you do is create an account, make a deposit, adjust the risk and other settings so that you are comfortable, and then let the automatic trades happen. Just check up on it a couple times a week to make sure that it’s doing what it’s supposed to do.
Manage Your Risk
After all is said and done, you want to make sure that you are not doing anything too risky. The nature of binêre opsies is that you will lose more when you are wrong than you will gain when you are right. Unfortunately, this makes it tough for some people to turn a profit. You don’t need to fall into these ranks. Have a strong risk management system in place.
For example, never enter a trade where you don’t have an advantage. This means don’t treat trading like a game or like you’re gambling, but like a professional. Research your trades if you are doing them on your own. If you’re going to use a seine diens, then research them. If you’re going to trust the quality of your trades—and thus your profits—to someone else, then you want to make sure that they are reputable and will give you the results you expect. This is really what separates a good trader from a great one, and it’s one of the easiest ways to ensure that you are making as much money as possible.