Best binary options software
Modern technology is changing people's lives for the better. All areas of our lives have been modernized by these technologies. This applies to the financial sector as well, including asset trading. Trading on the stock exchange has become available to a wide range of people.
One of the main components of success in trading on the financial market is the choice of a trading platform. It is the platform that connects the investor to the online exchange.
Therefore, when choosing the best binary options software in the UAE, one should pay attention to whether the platform is convenient, functional, equipped with the necessary tools for trading, and whether it is comfortable to perform trading operations on it.
But first, let us consider the concept of "trading platform" and the criteria you should pay attention to when choosing the best binary options software that works in the UAE.
Investment platform for binary options
An online trading platform is software designed to give an investor access to exchange trading and transactions.
Every person with a personal computer and Internet access can connect to exchange servers and obtain the necessary information. The platforms are constantly evolving and the options are improved and supplemented with new, necessary tools for market analysis.
However, given the high competition among online platforms, it is quite difficult for beginners to choose the best binary options software in the UAE. Therefore, let's look below at some of the characteristics of evaluating a quality investment platform:
- safety and reliability. Due to the availability of software developments, there are more and more cases of creating trading platforms by common scammers. Such platforms do not have a license to provide brokerage activities, no management software;
- quality. The investor, wishing to profit from trades, makes complex decisions and takes quick actions. Therefore, various failures, malfunctions in the software entail the risk of significant losses;
- user-friendly interface plays an important role in the perception of trading operations. This in turn affects making right trading decisions;
- wide functionality. Availability of a wide range of tools for trade increases the chances of making a profit;
- free demo account, so that the user can try trading and assess the quality of the program;
- high return on investment;
- opportunity of the minimum deposit;
- various available methods of deposit and withdrawal;
- ease and simplicity of registration;
- opportunity to follow the market from a cell phone;
- technical support.
Once you have chosen the best binary options software that works, you can proceed to the next step: the registration process.
Registration on the platform
Before you start registering, you should install the application by downloading it from the official playmarket or using a link from the broker's official website. For a new investor without problems to register on the online platform, the developers have tried to simplify this process. Registration takes only a few minutes. To do this, enter your data, stating your first name, last name and email address. After that, confirm the registration by clicking on the link that will be automatically sent to the specified email box. This completes the registration and you are already a user of the best binary options software.
Also, advanced brokerage companies offer a mobile version of the platform in the form of an app.
Demo Training Account
The best trading platforms provide their users with a special account, which is necessary for training operations.
A demo account is a copy of a real account with virtual funds, where beginner investors can evaluate the quality of the platform, practice making trades, and experienced users can try out new binary options trading strategies.
A demo account is free, and it is very easy to use without losing your real money. Different investment platforms have different amounts of fictitious test funds. With such a demo account, you can learn a great deal. When the time comes to enter the real market, you will know all the tools and strategies very well with such experience trading will be much easier.
Funding Withdrawing from the Platform
To make real trades with real money, you need to fund your real account. To do that, click the "Deposit" button. The minimum deposit amount is only a few dollars. Next, pay attention to the methods of depositing and withdrawing money from your account. You will be given a list of deposit options on the screen. The most popular are the bank payment card and online electronic payment systems. You can withdraw the money using the same methods as for replenishment.
It is also important to check the deposit and withdrawal limits set for a particular platform, the amount of commission for the broker's services.
Binary options and how to earn on them
Binary options became quite popular in 2008. During such a short period, they got a lot of supporters.
Binary options have different names: digital option, all-or-nothing option, fixed profit option. This is an option that, depending on the fulfillment of a stipulated condition at a stipulated time, either provides a fixed amount of income or yields nothing.
It is impossible to make large profits without a specific strategy. Like a trading platform, an investor chooses the trading strategy independently, depending on his or her preferences.
There are so many strategies for trading binary options on the financial market today. Moreover, one should take into account that the financial market is always changing, it is always influenced by different political and economic factors and it is not always easy to find a strategy, which would work without fail, under such conditions.
Strategies for beginners
To make a trader profit from trades, it is necessary to apply certain strategies. Let's take a look at some strategies for trading binary options:
- Option strategy Three in a Row. It is based on three trading indicators Moving Average (a moving average on the chart, which helps to determine the trading trend and calculate its end), Stochastic (helps to determine the deviation of the price now from its previous values) and RSI (Relative Strength Index measures the strength of the trend and determines the points for chart changes). The simultaneous use of all three tools helps the trader to correctly assess the situation on the market and make a bet. Very often there are situations in which each of the indicators can give an inaccurate signal individually, but if used simultaneously, these indicators can "filter" each other's values and allow the trader to make a correct analysis of the current market situation and successfully use this binary options trading strategy.
- Binary options trading strategy Reverse. The strategy consists of identifying on the chart the moments when the price is in a trend and predicting the next most suitable moment to place your bet and get the income.
- Binary options strategy Spring. It consists in making bets against the main trend. It is not always easy, and to work with this strategy it is recommended to use three kinds of indicators: an indicator for analyzing market prices, a channel indicator, and the Stochastic (as mentioned earlier, serves to determine the deviation of the price at the moment from its previous values).
- Option strategy Martingale. One of the most popular strategies for trading options. The system, which is based on the theory of probability. When trading, the price can go only in two directions: either up or down, and the probability of each option is 50%. The trader puts a certain amount of money on the option he is interested in and if he wins he repeats the transaction, and if he loses he doubles the amount, so that in case of winning he covers the losses of the previous unsuccessful transaction. Experienced traders note that even with frequent losses this binary options trading strategy works because it is uncommon to see a large number of unsuccessful trades in a row, and sooner or later your winnings will cover the loss. Using such a strategy is convenient for experienced traders.
Recently live charts are becoming more and more popular among traders. In addition, they are very popular with beginner traders. It becomes even easier to place indicators and test strategies. Live charts are very convenient to use. It is easy to use, does not slow down and allows traders to follow trades in real time.
Fundamental and Technical Analysis
One of the functions of a quality platform is analysis. In short-term and medium-term trading (up to a month), technical analysis methods are used. When trading for a month or more (long-term trading), fundamental analysis comes in handy.
Applying technical analysis, you can answer the main question for the trader whether it is necessary to buy, sell or not to operate with the selected asset. In this case, the investor makes a decision to purchase an asset based on the fundamental analysis, while the technical analysis is used to buy (and then sell) the asset at a more favorable price. For technical analysis, the online platform provides special indicators, which are in the form of graphical drawings that are automatically applied to the chart. There can be a different number of indicators, and they can be used in any combination.
Fundamental analysis includes economic calendar and newsfeed sections. Various events and multiple factors strongly influence the market. Central bank rates, financial news and analysis, macroeconomic indicators, company reports all these factors influence the value of assets. Thanks to the fundamental analysis it is possible to make long-term prognoses for the forthcoming time.
It is impossible to say what is better: fundamental analysis or technical analysis. They both work according to their own laws. It is impossible to make a forecast for several years in the future relying on technical analysis. At the same time, the fundamental analysis does not take into consideration the psychology of the market and will not allow predicting a spontaneous rush or panic sale.
The choice of methods depends on the strategy. If you plan to work on short time intervals, the emphasis can be placed on the charts. Fundamental analysis takes time, calculations and can still fail due to unexpected news. Nevertheless, even when trading short positions, it will allow you to keep abreast of the situation in the industry.
For long term investments, an analysis of industries and companies is better suited to point out stable and promising securities.
High-tech features of the platform
Trading and successful investing requires knowledge, experience and systematic work. It is necessary to make efforts to work out one's own strategy, to create one's own system, to study specifics of the market, nature and features of the chosen assets and programs, to understand strengths and weaknesses. To realize all these tasks, it is important to choose a quality binary options software that works in the UAE.
Convenient and simple interface of the trading platform is equipped with the latest high-tech functions the choice of assets for different types of transactions, the formation of a profitable portfolio, the ability to monitor the market from a cell phone, many additional tools for graphical figures and various types of indicators.