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How Much Money Can You Make by Trading Binary Options?
There are various articles on the internet on trading forex, investment advisory services, stock trading and so and so forth, and even more articles on psychology of traders, and money minting stock tips & ideas and what not.
Now, there is the new kid on the block named “Binary Options” and it is making quite a buzz, and you will find tons of articles on how people have made money with binary options trading, tips and strategies how to trade with binary option robot and which of the best binary options brokers you should rely on. But all these comes down to the some very basic question one should be asking: can I make living out of it? Can I be a binary trader and don’t have to go for the 9-to-5 job and can I retire early?
Though none of the questions is easy to answer as every individual has different situations and thinking, I have made an attempt to explain the ifs and buts of “Binary Options” through this article. To start with, the answer to the question to make a living is “a big YES”, yes it is possible to make a living trading binary options and option robot if you trade through a legal broker like IQ Option and employ effective strategies to trade. So what are those effective strategies and how to select broker? Let’s understand.
What Are Binary Options?
The simplest answer is “it is a trading of options with only two outcomes (binary)”. To elaborate further, it encapsulates the prediction of directional movement of an asset like precious metals, currency etc.
As you know, that in a stock trading you take a view of specific stock/index and invest into it, and then hold the security for certain amount of time which may be either minute, hours, days, weeks, months or years. If your view is correct you gain, otherwise, you make losses. It is impossible to predict in advance the amount of gain or losses you can make in the stock market. But in the case of binary options, though it is similar to trading in forex or stock trading, you actually know the amount of loss you may have or the amount of profit you can make.
Normally, in a binary option, you can either buy a call option (your view is that the asset price will rise from the current price in a specific duration) or buy a put option (your view is that the asset price will fall from the current price in a specific duration). If you are view turns out to be right, you get a proportionate payout on your amount of investment. Let’s say if you have invested $100 on USD/GBP currency pair with 80 percent payout, taking a view that it will rise from the current price point in 2 hours and it turns out to be correct, then you receive a percentage payout plus your invested amount that is $180 (your invested amount $100 plus payout $80 (80% of your invested amount of $100). If the outcome turns out to be opposite of your view and the USD/GBP currency pair fall from your price you lose your invested amount, in this case, $100.
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1. Your Binary Option Robot will analyse the market and decide, which asset (currencies, indices, commodities and stocks), is right to trade at that point in time.
2. The Binary Option Robot Will Predict the Price Movement
Your robot will assess a wide-range of factors, and then make a prediction on how the assets price will move, saying: Call (up) if it believes the price will rise and Put (down), if it believes the price will fall.Best Binary Options Brokers 2020:
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3. Decide on how much you want to Invest
Then you need to decide how much you want to invest in the commodity and when that investment will expire.
4. Collect your Earnings
Finally, you collect your earnings (the good part!)
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Types of Options
The simplest types of binary options are called “up/down”. As discusses earlier, in this options you have to predict whether the prices will move up or down from the current prices. If your view is right you get payment otherwise lose your bet.
The next type is called touch or no-touch. In this type, you predict whether the asset will touch a certain price point or not. These options also allow you to predict two price point, which is known as double-touch. Here, if your predicted prices are achieved by the asset you make a profit.
The another type is called “range/boundary” options, wherein you predict the price range for the asset, and you make a profit if it falls within your predicted range. There are also fast paced trading options which allow you to trade for a minute (60 seconds). The options expire when the time limit is reached. The additional factor of time makes them riskier than the other options, and if you can manage your risk effectively than you can make a serious amount of money in a short period of time.
Investing Not Gambling
Many people think that as there are only two outcomes, it’s a game of chance or luck. Wherein you can either win or lose, and that’s where they all make a mistake and go horribly wrong. If you consider it for a living, then you will have to take it as another form of investment and treat it like an investment. Meaning, you should learn and understand the binary trading, learn to read the charts, and you should learn and employ strategies to be more accurate to make money.
Though it sounds a difficult learning proposition, it is actually very easy and requires one’s passion, dedication and time to grasp. You don’t have to economic or financial expert to learn them, any individual who has the willingness to learn can become an expert in binary trading.
Simpler Not Complicated
You might think that trading online in binary option is a mammoth task, but believe me, it is actually very simple. Todays’ online platform provides tick by tick information of data, and the layouts are easier to understand and grasp. You need to spend some time to get hang of the platform, and once you do that it becomes as easy as few clicks only.
The most important aspect of binary optionstrading is to choose the right broker, which has a performance track record of making timely payout and who is reliable and regulated to perform binary options trading. Also, check the platform’s ease of operation before committing real money. Almost all binary option broker provides a free demo account for trading, and as a beginner you should make a full use of it to learn the platform and gain practical experience of applying your chosen strategy to check whether those devised strategies work or not, do they require modification or a new strategy needs to be learnt for to be an effective trader. Most of the broker provides payout ranging from 70 percent to 90 percent, and you can start with an account as low as $10. So you should choose a broker who fits with your personal choice and requirements.
Important point to remember is “make full use of a free demo account until you are absolutely confident to trade with real money”
Put and Call, so simple
Once you are confident to trade with real money, you should credit your account. In binary options, it’s easier to get swayed and take the unwarranted large risk. So the first and foremost thing is to control and avoid unduly large risk, so as a trader you don’t lose too much money in a single trade. Theoretically, as a trader you have a 50 percent chance to be profitable either options. So to be profitable you have to improve that chance to 60 percent or more, meaning you have to be correct on 60 percent of your trade to make money. So as a beginner you have to practice and practice on a free demo account to predict more accurately in order to improve your winning percentage.
I have enlisted some of the most important aspects of binary options trading, which one should remember before every trade.
Learn before action: As a binary options trader you should have; complete understanding of your brokerage platform, you should invest sufficient time to learn various charting techniques and what they indicate, and you should also gain considerable practical knowledge through free demo account. The technical charts provide lots of information regarding moving averages, buy signals, and sell signals. You should gain a complete command on various technical indicators in order to perform better. Once you are fully aware of above aspects, you can start the action.
Stocks/Forex before binary options: It is advisable to take a hands-on experience in stock trading or forex (currency) trading before jumping onto the binary options trading. Stock trading is more volatile for stocks priced below $5 and can teach you the nitty gritty of trading. You will gain knowledge of how those future prices are moving and what affects the stocks or currency. The knowledge gained can then be applied to binary options trading to improve the winning percentage.
Use professional services: There are many professional service providers to give you option signals to buy or sell specific binary option. Although, most of those services are not going to give you 100 percent accurate results, they provide signals which can convert the winning chances in your favor. In the market, there are free as well as paid services, as a beginner you should utilize the free services and if you find it helps you improve your winning chances, you should go for paid services.
Track Performance: As a trader, it is of prime importance to track and analyze each and every trade you make. Tracking will help you to assess and identify the most profitable trades you have made, which will further help in finding the asset where you have made most winnings. This will allow you to find the most profitable asset or an asset where you had more winning than losing, and the most profitable strategy through which you had made a profit in a specific asset. So it can be replicated further in order to improve the profitability of winnings from your trades.
Select a time period which suits you the most
In the binary options, one of the most important aspects is the expiry of your bought options, as the prices of an asset at the expiration time decides whether you are winning or losing. Some options work better for a shorter duration, while others require little longer holding time period. A value investor can have super success rate if he invests for a longer timer period, but can make mistakes in short duration trades. So it becomes important to understand your investment style and then decide which is the best time period suited for you and then trade.
The above factors are the guiding principles to start trading binary options. These principles can guide you to make your trade in a right direction.
Success comes from right decisions and right timing
Avoid Common Mistakes
As a beginner, the traders make a lot of common mistakes like taking an undue risk and betting higher amount on first trade, and if goes bad betting too low on subsequent trades, which never allows them to recuperate big losses. Traders also make common mistakes like getting swayed by emotions and make multiple trades at a time, which almost all the time ends up in a bad trade.
Now the question arises that if a trader makes so many mistakes, then why does a beginner open a binary options trading account in the first place. The simple answer is by being systematic and following a disciplined approach anyone can make money out of trading binary options. So, as a beginner, you should know all the mistakes others have made and learn from them to be able to successful binary options trader. Some of these common snags are listed so that you don’t fall onto them.
Trading Without Objective
It is observed that as a beginner, traders trade out of sentiments or monotony. This is one of the most common mistakes which traders make to make the broker richer. It is recommended that you should begin trading with a clear objective and understanding the process of trading. Put your mind to use before starting any trade, you should know beforehand whether your assessment is valid on a specific asset or not? How much probability can you apply to your winning? Are you confident of your trade or you are taking chances? So if you answer to any of the questions is either negative/low then don’t jump to trade, and assess the situation again keeping your objective clear of winning. You should ensure that every trade counts and adds to your wealth.
If you enter into trade then don’t let your emotions affects your decisions. Emotional influence has a higher probability of losing than winning. Trading should be undertaken with calm and composed thoughts, systematic approach and discipline to have higher winning chances.
Everybody wants to be a billionaire overnight, by reading news about how people have made money. People don’t think nor read the story about the hard work the person has employed to become a billionaire. You should understand that profits and losses are part of any trading, even the biggest investors of the world have made wrong choices. In trading, you win some and you lose some, so never allow any single trade to affect your account completely if you make losses. The general thumb rule is that you should never bet more than 1/20 th of your total investible amount in a single trade, and for binary options, it is recommendable to make that ration 1/25 th . So avoid big trades, rather go for multiple small trades to be an efficient and effective trader.
Increase your wealth step by step with binary options
It means repeating a mistake again and again, and not learning from each mistake. As mentioned in the previous section about tracking the performance, it is also advisable to keep a tab on all the good strategies and bad strategies by jotting every strategy in a notebook or in a diary. This will allow you to comprehend better, learn from your past mistakes and avoid repeating the same mistake again. You should make consistent efforts not to repeat the same mistake again and again.
This is also one of the emotional aspect, which occurs with multiple wrong decision, and you quit trading before tasting full benefits. Frustration can happen because of emotional decisions being taken or repeating mistakes, and you should not allow frustration to supersede your final goals. Understand, that there will be losses in some trades along the journey, and you should be well prepared before even you start trading about the losses.
Never Borrow to Trade
In order to be a millionaire in a one night, people take excessive risk and even go further to borrow money to trade. This is not a good tactic even if you are confident as one mistake can wipe all your wealth and has the potential to be indebted forever. So as a beginner or as a pro avoid borrowing to trade as there is always a probability of losing.
The above mentioned are some of the most common pitfalls people fall for and never get up. As a beginner, you should always avoid these mistakes and try to be systematic, disciplined and rational in order to make trading as a profitable business proposition.
It is not simple to estimate once earnings, as it depends on the accuracy of trade, invested amount and payout percentage. There are various individual traders who are making thousands of dollars each month, and have left their jobs and are living on binary options only. As a beginner, I would suggest you start with small amounts and if you can make a decent amount that is also a good sign for the future outcome. You should have and set reasonable expectations, as you cannot be 100 percent correct at all the times, and there would be trades which can go against your view.
Once you follow the aforementioned steps, you are most likely to achieve 60 percent winning chance in your total trade (The following table considers that you will lose money in 40 percent of trades). If you open an account with $1000, and do 10 trades per day, with 6o percent winning chances you can make $999.65 in a month (considering 22 working days), which means you can practically double your money in a month. (Please see the detailed table below) If the Winning Payout is bigger than 80% or your winning rate is greater than 60% this would happen even faster.
can you make living with binary options? I think You can!
Tips For The Beginners
The one solution which fits all the requirements of making that extra money, or having an extra income stream, or even making it a full-time living, is the Binary Options Trading. The binary arena has been gaining momentum over the past couple of years, and thousands of individuals are making a handsome profit, however, the binary trading is not as easy as it sounds. As in all forms of trading, it also has an inherent risk but it can be managed to achieve success with little efforts. The following tips will act as a torch bearer to your binary trading journey.
- Before you start anything, it is advisable to get the complete grasp of the subject. The binary options trading is not an evil and can be understood easily with consistent efforts and disciplined approach. There are several online courses available on the internet imparting knowledge, also, you can gain knowledge through interactive sessions on trader’s forums and with self-help books. The binary trading has been consistently evolving every day and hence, it is of prime importance to update and acquaint oneself on a regular basis.
- It is of utmost importance to have a right partner whenever you take that first step, and binary options trading is no different. A good broker makes a lot of difference as the offerings are tailored to suit the beginners and experienced traders. There are several online sources available which provide comparative analysis of broking company. You can also read an in-depth analysis of various brokers on our site to get the comprehensive knowledge about several brokers.
- Trading is not a one-time activity and it should be considered for a long time to get better returns. Consistent and disciplined efforts in the right direction will help you to become the successful trader in a long-run. Don’t consider the binary options trading as a fad, and believe that it’s a long-term business opportunity to meet your plans.
- A winning trade tempts you to invest a higher amount in the next trade: this is the biggest temptation which derails the plans, and hence you should control your urges to over investing. Beginners most often tend to get swayed to make a million dollar shot but you must control your emotions as they might prove to be a game-changer. Most of the beginners, tend to lose heavy money because of the uncontrolled urge to over-invest and then they refuse to come back to the trading arena. As a beginner, you are advised to employ rational thinking in your trading activity and then deploy your strategies to profit.
- It is believed that an emotionally disturbed individual is more like to make mistakes than the individual who thinks with a clear head. So, beginners should always avoid trading when they are emotionally disturbed, as emotions can lead you to make wrong decisions and ultimately make you lose big. Hence, the beginners are advised to stay away from any trading activity unless and until they are out of their emotional state.
- Practice makes a man perfect. This is also true with the binary options trading. Studying the market and reading charts, over a period of time, will help you predict the direction of an asset in a more accurate way. This, in turn, help you to make more winning decisions and gain profits.
- Keep yourself updated. This is the another important tips for the beginners. The current news and affairs will help you appraise yourself with the current situation is the market and can have a potentially helpful impact on your trading. It will also help you to identify any negative impact that news might have on the direction of an asset. As a beginner, if you develop the habit of understanding the root cause for market movement then it will definitely have a positive impact in a long-run as it will help you to nudge the market crashed and allow you to make handsome gains during rallies.
- Another important aspect of the trading is that it becomes monotonous over a period of time. You should develop a liking for the trading and also should have fun while trading the binary options. This way you can be sure not to get bored by the trading and will also allow you to trade with a clear head.
FAQ For The Beginners
What is the risk in the binary options trading?
Unlike other forms of trading, the risk with the binary options is predefined and remains the same throughout the trade. The risk in any binary trade is limited to the investment amount per trade, for instance, if you are investing $ 100 to a specific trade then a maximum amount you can lose is limited to $ 100 only, not more not less.
What is the minimum investment amount per trade?
It is difficult to generalize this amount, but, generally, the range is from $ 1 to $ 50. There are few brokers in the binary arena which allow minimum investment amount per trade as low as $ 1, whereas, there are several brokers who allow minimum investment of $ 10 per trade.
Can I get a leverage as I get in the stock trading?
A big NO. You are not offered any leverage in the binary trading and you can only invest amount which is available in your trading account. Though the leverage has its own advantages, but it can burn you pretty heavily in case the underlying moves in the opposite direction rather rapidly. This problem is not there with the binary options trading.
How much can I get with each pip?
The forex traders are aware of what they can make with 1 pip movement, but, the binary options trading is simpler than it seems. The amount of money you can make does not change with a number of pips, rather it is same for 1 pip or 100 pip.
Can I know the amount I will make for each trade?
The payouts in the binary options trading are predefined and are known to the customer before placing a trade, and it remains fixed for an asset and option types.
Can I close my trade before expiry?
Not many broker offer this facility, however, there are some brokers in the binary arena who allows you to close your trade before the expiry of course with certain terms and conditions, and lower payouts.
How hard is it to trade the binary options?
Executing the trade is simple and easy with the binary options trading. All you need to do is decide the direction of an underlying asset and accordingly select the “Call” or “Put” option to trade. Generally, most of the broker allows a one-click trade execution so once you have clicked the directional movement the trade will be closed automatically.
What are the average payouts?
The average payouts in the binary options trading range between 75 % to 85 %. However, there are some brokerage houses which offers higher payouts for certain options types.
What is the cost of investing in the binary options?
There is absolutely zero cost of investing in the binary options. The brokerage houses do not charge anything for the trading in the binary options. There is no hidden cost nor there is any levy.
Is the binary trading only for the experts?
Though it is desirable to have sufficient knowledge of the financial market, but you do not need to be a financial expert to trade in the binary options.
Do I own the asset I trade?
In the binary options trading, you never take an actual ownership of the underlying asset. You are required to predict the direction of an asset and what happens to the prices of an underlying asset, that’s it.
Why is it called binary?
The binary means either zero or one, meaning there are only two options. In the same way, binary options allow you to predict either up or down, and hence the binary.
If you think that the current scenario is most suitable for the stronger USD against all the major currencies, then the best way to make the profit is to use this information is to trade the binary options. The only thing that has to happen is to move the currency pair by 1 pip higher than the current price to make the gains.
Let’s say you bet that the USD/JPY will move higher from the current price of 113.87 by 3.00 pm. The payout for this trade is 80 percent if you are in the money.
So, if at 3:00 pm the prices of the USD/JPY move to 113.88, then you will get a payout of $ 180 which include 80 percent payout (80% of $100 = $80), and your investment amount of $ 100 for the trade. But if the USD/JPY moves to 113.86, then you will lose your investment amount of $ 100 to the broker.
The trading in the binary options is as simple as indicated in the above example. The above example depicts the trading of classic binary options, also known as the high/low options type wherein you just need to predict the direction of an underlying to profit, and any adverse move to your prediction will make lose your investment amount.
Now, as you know the nitty-gritty of the binary options trading, and probable earning potential, you can very well take binary options as a worth business option to make a living out of it. There few more things to consider before taking binary options as an alternative job opportunity. Considering you generate considerable income through binary options, you should keep aside a percentage of funds for Taxes, health insurance, and Retirement funds every month. These aspects may have been taken care of in your previous employment. If you were making $150,000 in a year in the previous job, you have to generate more from your binary trading options in order fulfill obligations like insurance, groceries, bill payments, retirement funds, so on and so forth.
To take a call on being a fulltime binary options trader is not an easy one but it is definitely worth considering. You should only change from a 9-to-5 job if you are 100 percent confident about your skills to generate sufficiently higher amount then your previous paying job.
Dedication to learning and applying learnings, systematic approach, disciplined and rational decision making are some of the key points required to be a permanent binary options trader. I believe, if you possess these skills you have in it to become fulltime binary options trader.
I have changed to full time-trader; you can also do so. Happy trading!
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Binary Options Guide: The Truth About Binary Options
Trading binary options can seem deceptively simple, but leaning too far into that notion can blind people to some of the risks that often accompany this type of trading.
Before I go any further, I want to make it clear I’m not a binary options trader. I trade penny stocks and teach day trading. I’d love to see you join the Trading Challenge — it’s the result of over two decades of trading and a decade of teaching. It’s awesome.
If you’re interested in taking the binary options path, it’s critically important to understand exactly what you’re getting into and set appropriate expectations. And you should get a mentor who trades binary options. Seriously. Preparation is key.
Again, I don’t trade binaries. For the most part I think they’re scams. Can you trade them successfully? There are successful traders in every niche. But most traders lose. That’s the reality of the industry.
It doesn’t matter if you’re trading forex, penny stocks, options, big caps, or … binary options. Most traders lose and most trading teachers don’t want you to know about it. So I’m going to tell you about binary options in this post. But I don’t trade them and I don’t recommend it.
Will trading binary options enable you to buy a villa in the South of France next year? Probably not. Will they allow you to quit your full-time job and finally start on that novel you’ve always wanted to write? Don’t count on it.
Here, we’ll take a look at what binary options trading is all about and you can decide whether it’s right for you. As you read, keep in mind that binary options are getting outlawed in more and more countries. Companies are getting shut down. Or they’re based overseas in places where you can’t sue them. More on that later.
Table of Contents
What Are Binary Options?
Before we dive into specific binary options trading strategies, let’s review exactly what binary options are. According to Investopedia’s definition:
A binary option, or asset-or-nothing option, is a type of option in which the payoff is structured to be either a fixed amount of compensation if the option expires in the money, or nothing at all if the option expires out of the money. The success of a binary option is thus based on a yes or no proposition, hence “binary”. A binary option automatically exercises, meaning the option holder does not have the choice to buy or sell the underlying asset.
At the core, binary options are based on a yes or no proposition. You must decide whether you believe an underlying asset will be above or below a specific price at a specific time.
Binary trades are ruled by expiry times. These time constraints indicate how long you have to make your predictions regarding whether you believe an underlying asset will be above or below a specific price at a specific time. Once the expiration limit occurs, your predictions determine whether you gained or lost money.
Expiration times vary from binary option to binary option. Some of these minimums are known as short expires, which means the expiration date is actually within mere minutes of the buy-in.
There are medium and long expiries, as well. For medium expiries, the deadline could be anywhere from two to five hours. Long expiries typically last between two and 24 hours. Many experts believe that longer expiration times can help make predictions easier.
What Are the Underlying Assets of Binary Options?
In order to participate in binary options trading, you must first have ownership of an asset that can be optioned for a fixed amount. The types of assets common in binary options include stocks, indices, commodities, and currencies. Many binary traders chooses to trade with stocks, as this option can allow them to get high returns within a short span of time.
Along with indices and commodities, currencies are another popular binary option vehicle. Since currencies are liquid and often subject to dynamic price fluctuation, many traders choose to analyze their binary options across the complex — and often shifting — global currency market.
A quick aside since we’re talking about forex. Be aware that the forex market is among the most difficult to trade. Why?
Because it’s the biggest and most liquid market in the world. You’re up against the smartest, richest, and often most experienced traders in the world. Personally, I don’t want to compete against that. Plus, the forex markets move so fast on news you don’t have access to, that there’s no edge whatsoever.
And now, a new asset has emerged: cryptocurrency. I don’t trade crypto, either. I’ve traded the random crypto-based stock. But this is a whole niche unto itself and I’m happy with penny stocks. Crypto has its own version of binary options — which is why I’ve included it here.
Led by Bitcoin, this new, digital currency class is intriguing investors around the world who see the digitization of finances as the way of the future.
According to Options Advice, there are two prominent ways you can capitalize on Bitcoin binary options. The first strategy is by trading on what you think the imminent fluctuation of Bitcoin might be, and the second is trading regular options with Bitcoins as your currency.
If you’re interested in taking the cryptocurrency binary options route, I strongly suggest familiarizing yourself as much as possible with the trends dictating the ebbs and flows of the altcoin market.
An entire niche financial industry has been built up around educating consumers and future investors of digital coins and tokens. From resources like Cryptoslate to ICO listing sites like Coinschedule, there are many resources available to help you make the most strategic crypto trading moves possible.
There are also a lot of scams. And strange happenings. Like when a crypto exchange CEO died with the ONLY key to $137 million in crypto. Ouch. More than 100,000 cryptocurrency holders learned a very hard lesson. Back to binary options …
What is a Call and What is a Put?
Two of the most common terms you’ll hear throughout the binary options world are call and put. These two labels represent the market positions of binary options.
You typically choose to call if it looks like the value will rise within the confines of the expiry time.
Options also have a strike price, which is the price at which the security would be bought or sold.
If you choose to call, you’re signifying your confidence that a stock will rise within the time limitations. If the stock valuation moves upward at all, you’ll receive both your initial investment as well as the return.
On the opposite end of the spectrum, a put signifies your confidence that the valuation of a stock will drop within a certain time limitation. So if you predict that a stock valuation will decline before the expiration date, and the stock does dwindle, you will have succeeded at that trade and will receive your initial investment — as well as the trade — back.
What Are Other Types of Binary Options?
Beyond call and put options, there are other distinguishing factors that separate binary options from one another.
This guide from Binary Tribune delves more specifically into binary options types based on the number of interactions a trader must initiate with the trade. The levels include one-touch, no-touch, double one-touch, double no-touch, and paired options.
Let’s take a look one-touch and no-touch options …
Essentially, a one-touch binary option indicates that in order for you to receive a payout, a trigger (or predefined barrier) must be reached. Traders often choose one-touch if they feel confident that a stock will move in a certain direction at a minimum amount.
The option only has to meet the predefined trigger level once (hence the “one-touch” term). However, as indicated by Binary Tribune, this strategy is often accompanied by some risk.
Beyond simply calling or putting, you also must feel confident that a certain valuation threshold will be crossed. However, with greater risk often comes greater reward.
In contrast, a no-touch binary option essentially depends on a trigger level not being reached.
Rather than hedging your bets that the valuation of a stock will rise above or dip below a specified amount, you’re betting that the trade will not dip above or below an amount.
Because you’re making the trade with the intention that a threshold will not be crossed in either direction, it’s referred to as “no-touch.” Like their one-touch counterparts, these trades come with greater reward — and risk — potential.
I liken one-touch and no-touch calls and puts to something like an electronic stop-loss. The problem is, you don’t have control. You’d better be damned sure you’re right. Which is impossible.
What Are the Pros and Cons of Binary Options?
Now that you understand binary options basics and the different factors between them, you might be wondering whether this type of trading aligns with your goals. Let’s weigh the pros and cons.
We’ll start with the benefits …
Low Barrier to Entry. You don’t need a masters in economics to engage in this kind of trading. For this reason, many first-timers enter the trading arena through buying and selling binary options. Comparatively, binary trading is relatively simple. When compared directly to other types of trading, including quantitative or arbitrage, trading binary options is straightforward.
Fast Returns. Many traders are eager to see fast results and liquidate within a specific time frame. Those who play the long game (investors) are typically most concerned with growing their money steadily over long periods of time. Many opt to invest in index funds, IRAs, or bonds. Trading binary options is fast paced.
Thing is … you can get all the speed you need trading penny stocks. So, while binary options might be a fast game, the reward might not be worth the risk.
High Rewards. Binary options trading is touted by those who promote it as high reward. It’s possible to receive up to a 70% return on their investments if your binary trades reach your expiration dates in the money. This high average return is what makes this type of trading vehicle attractive to many novice and expert traders.
As explained by Investopedia, the risk on binary options is capped off, so while the rewards could yield high returns, you can’t lose more than the cost of a trade.
Low Cost. If you’re just getting started with trading, there’s a good chance you don’t have excess capital lying around to snatch up shares of the fastest-rising stocks on the market. Binary trades offer an alternative to other types of investments that require high-capital buy-ins.
In theory, you can experiment with a binary trade for any amount you’d like, whether it’s $5 or $50. Starting small and working your way up to bigger trade amounts incrementally is a great way to learn the lay of the land.
As you familiarize yourself with expirations, strike prices and — if you’re interested in one- and no-touch options — triggers, it’s best to gamble with an expendable amount that won’t derail your entire financial status. Notice I used the word gamble — just sayin’.
Accessibility. Binary trading platforms make it easy to trade on any day and at any time. When it comes to binary options, traders aren’t necessarily beholden to standard market times and broker availability.
Now, let’s explore some of the disadvantages of binary trading …
Scams. Conduct any Google search on binary trades and one of the first things you’ll likely notice are the abundance of hits warning against binary scams and shady binary brokers.
Remember when I said I’d get back to the part about shady companies? Here goes …
… and I say this to protect and warn you.
Like I said, these companies are often based overseas. Places like Cyprus. (I have nothing against Cyprus. It’s a beautiful country with amazing people.) Anyway, these companies are based in places where you can’t sue them if they screw you.
Then you sign away pretty much your entire life in the forms they make you fill out. Your odds of winning are so low the brokers who do it are pretty much laughing at you. They’re laughing that so many people fall for this crap. It’s like going to the casino.
So, if you come across a binary broker that sounds too good to be true, it’s because he or she most likely is. And if you come across a binary broker who doesn’t let you liquidate your investment, run in the other direction.
Short term. Binary trades have expiration dates that are often fairly short windows of time. Given this, it’s impossible to use binary options as mechanisms for long-term investments. Which, of course, I don’t mind because I day-trade and teach day-trading. But if you’re looking for buy-and-hold investing, binary options aren’t the right solution.
Can You Really Make Money with Binary Options?
Short answer: It’s possible, but you MUST know what you’re doing. Like I keep saying. Most traders lose. Doesn’t matter the niche. I would never trade binary options. Ever. Your choice, I’m just tryin’ to keep it real.
If you’re serious about binary trading, start small. By making small trades and working your way up, you give yourself breathing room to assess market trends and develop the necessary skills.
As is the case with many types of trading, history is sometimes the best predictor of the future. Many successful binary options traders experience trading wins and financial growth because they’ve spent time studying and familiarizing themselves with market movements.
Wait. Does this sound familiar? Yep. You guessed it: you can’t cheat your way to success. Doesn’t matter the niche. I don’t trade binary options. I don’t recommend you trade them. But if you decide it’s for you then prepare yourself. Study your ass off.
Learning common candlestick patterns can make it easy to spot recurring trading patterns. If you want to understand candlestick patterns — and you do if you are serious about trading — I recommend you get a copy of the classic “Japanese Candlestick Charting Techniques” by Steve Nison. Doesn’t matter which niche you trade, this book should be on your bookshelf.
Of course, trading patterns are never 100 percent accurate, so don’t fool yourself into thinking of them as absolute stock predictions. However, the more you can learn about patterns and begin to recognize them yourself, the more likely you’ll be comfortable making your own options decisions.
Is it Safe and/or Legal to Trade Binary Options?
Naturally, binary options contain risk. And by now you know my take. I pretty much think they’re scams. But there are differing opinions and some even consider them safe trading routes. I’m not gonna tell you not to trade them. I recommend you don’t. I’ll be interested to hear back from you. When you’re ready to trade the way I teach … apply for the Trading Challenge.
While it’s legal to trade binary options within the United States, they’re only available to trade on Commodity Futures Trading Commission (CFTC) regulated exchanges within the country.
Binary options traded outside the U.S. are structured differently to those traded here. You can learn more in this article on Investopedia: What You Need To Know About Binary Options Outside the U.S.
The Bottom Line
The good: Some traders like binary options because they are traded at fixed costs. You know where you stand.
The bad: Binary investments are too much like flipping a coin, there are too many scams, and your odds of winning are so low you might as well go to the casino.
The bottom line: Educate yourself like crazy. Avoid sketchy brokers. Start small and work your way up. Remain vigilant. Stick with these rules, and someday you might reach your trading goals. Will you do it with binary options? I doubt it. But you might prove me wrong.
Want to Try Binary Options Trading?
At this point, I hope I’ve shed enough light on binary options trading that you don’t do it. But … you might be thinking about giving binary options trading a shot. If you do, study your butt off. Get a mentor. Don’t screw around. The best of the best in every niche work with a mentor.
Trading — any type of trading — can quickly become complicated. Like any other sector of trading, it’s important to seek out an education before you attempt to invest in this way. I can’t help you trade binary options. But I can help you learn to trade penny stocks …
Is the Trading Challenge for You?
As a teacher I want to help my students forge long-term, sustainable careers as traders. The Trading Challenge can help you reach your goals through risk-averse, conservative trading.
Plus, my best students — those who have become millionaires themselves — join me in coaching you.
What do you get?
- Wednesday morning live trading webinar. I show you live trades so you can see how it’s done. And it’s not only wins. These are true live trades. Sometimes I lose. But you’ll see how fast I cut losses and why I get out so fast when things turn against me.
- Wednesday evening live lesson and Q&A. No matter where I am in the world. This is killer stuff.
- Thursday live trading & review with Mark Croock. @thehonestcroock is at it every Thursday. You don’t want to miss this. Mark is one of my best students/teachers. He’s constantly in the challenge chat room alerting students.
- Annual Penny Stocking Silver Membership. You need this. Thousands of hours of video lessons and archived webinars. Immerse yourself. This is how to get good fast.
- PLUS: Two monthly bonus webinars by my top student Tim Grittani. It won’t take long to understand how Tim went from $1,500 to where he is now when you see how meticulous he is about his trades. Learn from a master.
WAIT! There’s more …
I always wanted to write that. Anyway, there is more, but you have to apply for the Trading Challenge to get it. Simple.
Will you be my next success story?
As you’ve now learned, if you study hard, start small, keep your scam radar on high alert, and stay educated, then becoming a successful trader is possible. But it’s not easy. So don’t even think about doing it if you’re not willing to work hard.
As for binary options …
Look, whatever you decide, it’s about how much time and effort you put into learning. I don’t think binary options are a good way to go. Plain and simple. But there are success stories.
If you’d rather learn what I teach, then apply for the Trading Challenge. But no lazy losers allowed. Seriously. Only join the Trading Challenge if you’re willing to work hard.
Are you a trader? Do you trade binary options? Comment below and let your fellow traders know how it works for you. Even if you are brand new, I love to hear from readers. Comment below!
What are Binary Options? – Honest Review
Binary Options is a financial instrument to trade on long or short markets in a certain period of time. The Trader only got 2 options: Win a high amount of money (75% – 95%) or lose the investment amount for this trade. It is like betting on rising or falling markets. Binary Options are very flexible. It is possible to trade any financial market and use different time horizons (starting from 30 seconds).
- Call (Higher): Make a forecast for rising markets
- Put (Lower): Make a forecast for falling markets
Make a forecast for the future price direction
In this article, I will show you exactly what are Binary Options and how do they work. Knowledge is the key to success. Read about the risk and the opportunities to make money in the following text.
Where to trade Binary Options in 2020?
In the next steps, I will show you how Binary Options (Wikipedia article) work. You will understand it in a few moments. But first of all, where to trade Binary Options?
You will need a Binary Options Broker (see the table below). I searched after the safest companies which give the highest return for traders. There are different companies around the world who provide this financial service. You can open a free demo account. This is an account with virtual money so you can learn how to trade without risk.
- You need a company (broker) which provides the financial service (Binary Options)
- Open a free demo account with virtual money (Virtual trading without risk)
Broker: Review: Regulation: Yield: Advantages: Open Account: 1. IQ Option (5 / 5)
CySEC (EU) 100%+
2. Olymp Trade (4.8 / 5)
High Yield 92%
3. Expert Option (4.8 / 5)
VFSC, FMRRC 90%+
Is Binary Options Trading safe or not?
Safety is the most important point in online investing. You should choose a good and reliable broker which is safe. I recommend using a regulated company for your investments. Have a look on my full Binary Options Broker Review to find the best one. There are regulated and unregulated companies for trading. It always depends on the broker to trade safely Binary Options.
I did a lot of research and clearly, I can say that a regulated broker does not cheat to its clients. Normally unregulated brokers do not cheat too. But it is not 100% safe because sometimes these are small and unknown companies.
It is safer to trade with a regulated broker than with an unregulated one.
In conclusion, you should use a regulated broker for trade Binary Options safely. It always depends on the Broker if it is safe or not. Do the research by yourself and read my review about the broker on this website.
Example of regulation or license
Safe and well-known regulators are:
What you really need to know about online platforms:
There is a huge diversity of Binary Options Platforms and you have to check out what is your personal favorite. Nowadays developed software is very flexible and available for any device. It is possible to trade with the computer (browser and desktop), smartphone and tablet. That means you can trade from everywhere around the world if you got access to the internet.
Especially for a beginner sometimes it is hard to learn to trade with a new platform. There are a bunch of options which can confuse you. Most brokers will give you education material like video tutorials or step to step guides. Also, you can ask the support for help by phone, chat or email.
A platform for any device
Flexibility and charting are provided by the platform. You can do a personal chart analysis with indicators, technical tools, and different chart types. Sometimes you will get access to economic news directly in the platform. Indicators are known for giving you feedback on the market price at the moment. They are customizable like you want. So it is possible to analyze different timeframes.
Today Mobile Trading is one of the most important factors for trade successfully. It is a great opportunity to boost your profit. In the past traders could not trade online or via mobile phone. So the options were much lower for making a profit. Apps are available for Android and iOS users or any other device. Check out your trading account 24 hours per day via your mobile phone.
In my opinion, it is better to use the web-based platform with your computer for analysis. Often there are a lot more functions than in the app. Furthermore, you can see the chart more detailed and a higher range of it. Professional analysis can be made by using a computer.
Binary Trading Tutorial | Step by Step Guide
As a trader, you can choose between a lot of different assets on a Binary Options Platform. You can trade Forex, Stocks, Commodities, Cryptocurrencies and more. This trading tutorial will show you how it exactly works to trade the financial product. The process is always the same as you see in the video and picture below. Just practice it in a free Demo Account.
Learn how to trade successfully
Now you have to imagine and predict the asset price direction for the future (forecast):
You can use the specially programmed trading platform of a Binary Options broker to analyze the charts and get trading ideas. It is very important to have a good working strategy for maximum profit. Beginners should use technical analysis for trading the chart. On the broker platform, you can learn more about it in different education videos/centers.
Therefore every Binary Option expires after a specified time. You can use the time horizon between 30 seconds or 5 months or more. Sometimes it depends on the broker. As you see you can trade short-term or longterm Binary Options.
After you have decided on the direction and the expiry time for your trade you can “sign” the contract with your broker. Just click the call or the put button. On some platforms, you have to confirm the trade.
- Call (Higher): The price will go up in your expiration time
- Put (Lower): The price will go down in your expiration time
If you are right in your decision, the broker will pay you a high asset profit of 75-95%. The trade automatically closes after the expiry time. Sometimes the broker allows you to close the trade before the expiry time ends. That is a way to reduce the impact of a wrong decision.
That means if you invest the amount of 100$, you can earn the amount of 195$ on a certain time horizon. 100$ is the return of your investment and 95$ is the profit.
Binary Options Platform Tutorial for beginners
- Search for an asset with a high profit. If you trade the assets with the highest yields in conclusion from my experience the result will be much better in the end. Some Binary Brokers offer you different account types with different asset profit.
- Analyze the chart on the platform. You can choose different time frames, indicators or financial news for your strategy. Every Binary Broker offers you some educations, too. Learn in webinars, videos or coaching the best strategies of the world.
- Now you should select the expiration time of your Binary Option. There a lot of possibilities for your trade. Some traders like it to trade short-term options and some other traders like it to trade longterm options.
- Choose an amount you want to invest in your trade. The most time it starts at 1$.
- At latest trade the Binary Option with a call or put. There are only 2 options in the market, that’s why it is called “binary”. In the end, you earn a high yield or you lose your selected amount.
What are the conditions Binary Options Trading?
You can trade any asset with Binary Options. It can be stocks, commodities, forex or cryptocurrencies! Most brokers give the option to trade more than 100 different assets. The expiration time depends on your broker. Some companies provide Binary Options with a time horizon of 30 seconds or less. These days you get a lot of different options on every broker.
- Trade stocks, forex, commodities, cryptocurrencies, and more markets
- Choose between a diversity of time horizons (short-term – longterm)
Yield – The return of investment can be high as 95%+
As the time horizons, the yield (return of investment and profit) depends on the broker. Often there is a possibility to get a high payout of more than 90% of your investment but there is no rule for the value of the yields. Sometimes short-term trades got the highest payout and sometimes long-term trades got the highest payout. In comparison to my experience, the yield is between 70% and 95% for standard accounts.
Another way to boost the yield is to get a VIP account type. Most of the brokers offer different account types, which are linked to the deposit amount. For example, you will get a VIP account if you deposit more than 3000$ on IQ Option. Not every broker got the offer of account types but you should search for it if you plan to invest a high amount of money.
Are Binary Options risky or not?
Binary Options are risky to trade, but there are advantages why the risk is less than trading other financial products. Especially new traders fear the loss of a high amount of money. With binary trading, you can only lose your bet amount. Traders clearly see what they can lose in a trade. Compared to other trading instruments this is a big advantage because the risk is limited always.
Another advantage is that you get a high asset payoff no matter how much the market moves. The asset price just has to be above or under the entry point. Traders like this financial product because it is so easy to understand and to calculate the risk and the trade profit.
Only invest the money which you can afford to lose in the worst case.
Binary Options Demo Account – Yes or no?
It is very important for beginners and new traders to practice the Binary Options Trading. Most brokers give you a free demo account. It is an account with free virtual money. You can always recharge the account with one click. It is risk-free trading.
Every trader should learn more about the trading platform before he is going to invest real money. Also, you can learn new strategies or try out different methods on the market. First, develop your own strategy with virtual money.
Most brokers offer a free demo account.
Opening your first real account
For trading with real money, you have to fulfill different criteria. On most brokers, you can trade and deposit without verification of your account. In my opinion, every trader should verify his account before deposit money. This can prevent annoying errors and waiting times. For a full verification, you need to complete the account setup.
Sign in with your real personal data. That includes full name, birthday, real address, email, and your phone number. After that, sometimes you have to upload the required documents for the broker. The company checks if you are a real person. Upload a picture/copy of your Passport. Sometimes they require a utility bill too. In most cases, the verification only takes 24 hours or less. With some companies, you do not need this verification process.
How much money do I need for Binary Options Trading?
You can start trading with a very low amount of money. Especially on IQ Option, you can open a live account with a 10$ deposit. The minimum trade amount is 1$. The upper limit is open for your trades. Have a look at my reviews to find a broker which fulfill your requirements
From my experiences as a trader, it is possible to make a huge amount of money with the right strategy. Binary Options are the tool for trading with a small or big amount of money.
Facts about the deposit:
- Start with only 10$ in your account
- Trade with 1$ per trade
- You can easily trade with high amounts too
- The minimum deposit depends on the Binary Options Broker
Easy deposit and withdrawal
As mentioned before the deposit is easy as the withdrawal of profits. On most brokers, there are not any fees for deposit and withdrawal money. For payments, you can use more than 20 different methods. It is possible to capitalize on the trading account in a few seconds. In most cases the payout takes the time of 24 hours depends on your broker.
Payment methods are depending on the broker:
- Credit Cards (Master/VISA)
- E-Wallets: Skrill, Neteller, FasaPay, ePayments, Yandex, and more
Get a free Bonus for your deposit
The most brokers offer a free bonus for your deposit or risk-free trades. The bonus amount depends on the deposit amount. It can be a 20%,30%,50% or 100% bonus. In other words, they give you a higher bonus for a higher deposit. Furthermore, some brokers allow trading risk-free trades. If you lose a trade, the broker pays back the lost money in the form of a bonus.
The bonus is not completely free. Sometimes traders have to trade a high turnover of the bonus. For example, make a turnover of 30x of the bonus to get the bonus withdrawn. If you are not satisfied with the conditions in most cases you can deactivate the bonus. A bonus is a good opportunity to grow a bigger account and trade with more money.
Get a free bonus now
Can you really make money with trading Binary Options?
The key to your success is to get a good education and find a professional strategy. In addition, you have to control the risk with sensible money management. In this article, I showed you an insight into profitable trading with Binary Options.
It is easy to make money with Binary Options but you have to be prepared. The markets are not easy to trade for beginners and it takes time to trade profitably. You will not see success directly. From my experience educated traders do not blow up the account. They earn money constantly. Read through my other pages to get deeper knowledge.
- Education: This is the most important point for beginners. You should be prepared for the markets and know how the financial product works. There are different tutorials on the broker webpage or on my website to learn the functions. In addition, it should be easy for you to use the trading platform of your broker. Just practice in the demo account until you feel comfortable. Moreover, most brokers offer deeper knowledge. There are webinars, coachings, and tutorials. Education and knowledge is the key to making money with Binary Options.
- Strategy: Develop or learn a professional strategy for trading. You have to know what you are doing in the market. It is like a system for you which always have to repeat. Without a proper strategy, you will blow up your account. There are different ways to learn a strategy. Use the knowledge of a broker or my website.
- Money Management: most traders fail to control the risk. In my opinion, money management should be sensitive by using 0,5 – 3% of the account balance per trade. Sometime a losing streak will occur. By using sensitive money management you can trade without emotions and you can trade enough trades without running out of money.
In conclusion, you can really make money with trading Binary Options but you have to learn and invest your time in the right knowledge. The demo account is the best way to practice before you start investing real money.
Are Binary Options legit or not? – My scam review
In my opinion, Binary Options are not a scam for your money. The financial product gives you the possibility to invest in short or longterm opportunities in the market. Binary Options are so popular because they are so easy to understand and you can make a lot of money in a short time.
It is very important to choose a good broker. Some small brokers are scamming users, that’s why a lot of people think Binary Options are a scam. Definitely, it is not a scam if you trade with a safe company.
Basic trading checklist for beginners:
- Choose an asset you want
- Forecast the price movement
- Choose a variable expiry time of the trade
- Bet an amount starting 1$
- Trade a call (long) or a put (short) option
- Get profit
- Payout the profit
On this site, I have shown you how the financial product is working. I think you can easily understand it now and start trading with more security. On my other sites, you can learn more about Binary Options. Happy trading.
How to avoid scams as beginner
The problem of Binary Options is that they are not a scam, but some brokers or financial educators are scammers. Every time before you start investing real money you should do a sort of research. You should pay attention to real reviews or advice from professional traders.
How much capital do you need for trading?
The starting capital to deposit onto your trading account depends on a lot of criteria. These criteria are unique to each individual and there are no strict rules about the amount of capital you need to deposit. Remember one simple consideration: If you need the money, or may need in the future, then be cautious about trading with it. Trading should never jeopardize your personal financial health. This will generate additional stress in your trade management (you will cut at the slightest loss, etc.). If you are not prepared to lose the capital invested, you cannot win in the financial markets in the long run. If you do not follow this rule, little is to be gained by continuing to read this article.
What are the criteria that determine your starting capital?
What do you expect from your deposit? Do you aim to make a living from it, to find an income supplement or simply to train yourself? This is a very important issue. You might tell me that the objective of trading is to earn money. Yes, but you don’t make money without training. If this is your first deposit, there is no point in depositing a large amount. At the beginning, mistakes are numerous and the goal is not to earn money, but to last. If you last, you could win some later. If you are a new trader, your deposit should not exceed €1,000. You’re going to tell me that’s barely enough. Here’s a quick summary to prove you wrong:
With CFDs you can process indices from €1 a point (for example on CAC which goes from 4000 to 3999 points), and stocks from €7. So you have a margin before you get to 0. Remember to check with your broker if these spreads are fixed on CFDs.
On Forex, you can take positions on mini lots of 1000 units, or $0.1 (€0.78) per pip if you trade on the EUR/USD for example.
If your goal is to train, it might be wise to deal with the smallest position sizes.
Your financial means
Your starting capital will depend on your financial resources. If you have limited resources, your starting capital for trading should not impact your lifestyle. Using a very small part of your savings to train and invest makes sense, but depriving yourself of all the joys in life to be able to trade is unwise (unless trading is for you is a passion and not just a way to earn money). If you have more financial resources, this is not a reason to deposit too large an amount. Depositing a large amount will not provide you with better training. Your capital is your working tool. First go through the training stage before depositing a larger amount, during this period, to make good use of your trading strategy.
Your trading level
The lower your trading level, the smaller your starting capital should be. It is important, therefore, to minimize the risks on each of your trades. Only take positions on trading signals that seem clear to you. Before you can process in real time, you might wish to process on a demo account. It is an obligatory and essential step to train yourself. There are a lot of advantages to starting with ademo account where the final objective is to test your trading strategy. The switch to a real account lets you test your strategy in real conditions. If you see that you are not successful (psychological reasons, bad money management or a bad strategy), rather than continuing, consider reverting to your demo account. It is better to conserve your real capital for as long as possible.
If you are a novice, you should also pay attention to the products you use in your trading. It is important to fully understand how it works and the risks. Deal with small position amounts to minimize your leverage.
The different amounts of capital to deposit depending on your objectives
If your goal is to train, you can deposit between €500 and €1,000. If you have less than €500, you should consider whether trading is really for you. On the one hand, you have too few financial resources and generally in this case, traders have high expectations. They see trading as a way to enrich themselves, to change their lives, to make a fortune (and that’s guaranteed to ruin them). On the other hand, you will be limited in how you manage your trades. If you suffer several losing trades, the margin required by the brokers for opening each trade can lead to your positions being automatically cut. Additionally, you can then quickly switch to the “I want to make up for my loss” mode, which normally ends up with a total loss of invested capital.
Between €500 and €1,000, there is a certain trading margin. You can cash out losing trades without risking too much of your capital. It is important, however, to be able to scrupulously respect the money management rules and equally important to deal with the lowest position amounts (mini lots) whatever the product processed.
Above €500, there is a higher emotional factor because it represents a significant sum. You will therefore be able to discover the different elements of a trader’s psychology. In fact, the amount must be large enough for you to be afraid of losing it. This is the only way to learn how to manage the loss phases (which are part of trading). If you can take a loss without flinching (without changing your risk at the next trade or questioning your strategy), you are on the right track.
If your goal in trading is to supplement your income, then the amount is highly variable and depends on your earning goals. Do not imagine earning €5,000 in the year if your starting capital is €1,000. Objectives must be realistic. 10% annual profitability is already quite an achievement. If you want to make €200 or €300 per month, you have to deposit between €20,000 and €30,000. Yes, it’s a lot, but we can’t get something for nothing! Do you know many investments that can earn you 10% a year?
Careful, don’t skip any of the steps. Before hoping for additional income, it is important to have ticked the training box. Depositing a large amount right from the start will only put your capital at risk (the temptations are daunting). It’s totally useless and above all very risky!
To expect additional income, it is important, therefore to already be a disciplined trader who knows how to respect the money management rules and scrupulously apply a trading plan . You no longer have to ask yourself any questions about the type of trader you are (scalpers, swing traders, trend trader, counter trend trader, etc.). Ultimately, you know that loss phases are part of trading, you have accepted it.
Trading for a living
Very few people are able to make a living from trading for the good and simple reason that you need a large amount of capital in the order of €200,000 to €300,000. For example, you want to pay yourself €2,000 per month. If you calculate that the state will take about half of your earnings, once you declare trading as your main activity, you therefore need to generate €4,000 per month, or €48,000 per year. Assuming that a pro trader can generate 20% profit per year, you therefore need to have a starting capital of €240,000.Best Binary Options Brokers 2020:
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