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Forex Binary Options

One of the best advantages of binary options is that they offer versatility. There are many different types of assets offered, including Forex options. If you have experience trading currencies, making the transition to currency options can be a great way to supplement your income, increase portfolio diversity, and branch out to new areas while protecting yourself from catastrophic losses.

Forex OptionsThere are several advantages you can gain by trading Forex options. The first, and most obvious, is the profit level in comparison to the timeframe. Making 72 percent profits might take days if you are trading straight currencies, but you can make this much with a single correct 60 second trade with binaries. Obviously you won’t be right all the time with these trades, but there is a huge potential here. And longer options, such as 15 minute expiries, will return even more. You might be able to make as much as 85 percent returns off of one of these trades. It is possible to make big profits in the Forex marketplace, but it takes longer, and if you are using leverage, your risk level is going to be high. Binaries offer you a better combination of protection and profits.

One concern that many traders have is that the currency pair they like to trade will not be available on a binary broker’s platform. For the vast majority of people, this should not be a concern. The major options brokers offer all of the most prominent pairs, and even some minor pairs in limited capacities. It’s not uncommon to find 30 or more different combinations of currencies offered. You can always find the big four currencies (U.S. dollar, British pound, the Euro, and the Japanese yen) in every combination, but you will also find that you can trade the Canadian dollar, the Australian dollar, the Swiss franc, and the Turkish lira. If you are a currency trader, odds are that when you make the transition to binary options that you will not have to sacrifice your knowledge of a particular currency pair in order to successfully execute your trades.

When you trade currencies traditionally, you are tying your money up for an unknown amount of time. It might take five minutes for you to hit an acceptable profit number, but it might take five hours. With Forex binary options, this uncertainty disappears. You know and agree to the timeframe that you will have your trade open for before you begin. This is a huge advantage and it allows for better money management. If you know that you will have $100 tied up for 15 minutes, you can plan around this and move forward more easily. In the Forex market, it might take all day to make you money, and if this is the case, there are likely going to be many missed opportunities for other, more profitable trades.

Options and ForexAlso, options have a few varieties. For example, you can trade a boundary option that will be a prediction of whether the currency pair will fall within or outside of a given range. Or you might choose a one touch option that will make your trade right if a certain level is reached at any time during the lifespan of your trade. You might choose not to use these more exotic trades, but they are there, and the more choices that you have, the more you can fine tune your trading in a way that best fits your needs. The more flexibility like this that you have, the better off your money-making ability will be—and this is a very good thing.
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