Frequently Asked Questions

WHAT IS A CALL OPTION?

In contrast to a Put option, an investor places a Call option, usually reflected by an up arrow, when he or she believes that the market price of an underlying asset will be higher than Strike Price at expiry time. If the trader is right in his assessment, a fixed payout is received, which is expressed as a percentage of the investment amount.

WHAT IS A PUT OPTION?

In binary option trading, an investor places a Put option when he or she believes that the market price of an underlying asset will drop below Strike Price over a period of time. In order for the trade to be successful, the actual price at the time of expiry must be in agreement with the direction anticipated by the trader.

WHAT ARE BINARY OPTIONS?

Binary options (also referred to as ‘digital options’ or ‘fixed return options’) are trading products in the financial sector. They provide investors with a quick and simple method of trading in which the investor has only two available options. In layman’s terms, the trader invests a certain amount of money and makes a prediction whether the market price of an underlying asset will rise or fall by a future time. If the trader is correct, he immediately receives the invested amount plus his earned profit. If he turns out to be wrong, the invested amount is lost.

WHAT IS A BINARY OPTION TRADING PLATFORM?

A binary option trading platform is an online, web-based platform that enables investors to trade in binary options. It requires no download or installation and making a trade is a simple 4-step process:

  1. You select the asset you want to trade,
  2. You determine the direction you believe the asset will move,
  3. You select an expiry time for the option and
  4. You enter an investment amount.

The possible profit called the potential payout percentage is stated ahead of time by the trading platform.

WHAT IS AN ASSET?

In binary option trading, an asset is a financial instrument or economic resource that can be traded and converted into cash. To make a trade, investors can choose assets from four different asset classes including Stocks, Currency-pairs, Commodities and Indices. For a comprehensive list of our tradable assets sourced from around the globe, visit our our Asset Index.

WHAT IS EXPIRY TIME?

A binary option trade only requires a few decisions to be made. One of them is selecting an expiry time for the option, which is the date and time at which a given binary option expires. In general, binary options have various expiry times from 1 minute to a year. This gives traders a choice and allows for the employment of potentially high-profit trading strategies.

WHAT IS STRIKE PRICE?

In binary options, Strike Price is the market price of an underlying asset when you enter a position. When making a trade, the current price of the asset is shown on the trading platform and you will be asked if you think the asset will be higher or lower at a future time, which is the expiry time. The market price of an asset when a binary option expires is, in turn, called the Expiry Rate.

WHAT IS A LOW OPTION?

In binary option trading, an investor purchases a low option when he or she believes that the market price of an underlying asset will drop below Strike Price over a period of time. In order for the trade to be successful, the actual price at the time of expiry must be in agreement with the direction anticipated by the trader.

WHAT IS A HIGH OPTION?

In contrast to a low option, an investor purchases a high or call option, usually reflected by an up arrow, when he or she believes that the market price of an underlying asset will be higher than Strike Price at expiry time. If the trader is right in his assessment, a fixed payout is received, which is expressed as a percentage of the investment amount.

WHAT DOES “IN-THE-MONEY” AND “OUT-THE-MONEY” MEAN?

In binary options, if an asset has moved in the direction you predicted at expiry time, the trade is In-the-Money and a payout is earned. . In contrast, if the actual price of the asset at expiry time is not in agreement with the direction anticipated by the trader, the trade is considered Out-of-the-Money and the trader loses the initial stake.

WHAT IS A BEARISH MARKET?

A bearish market is a condition in which market prices of assets are falling, encouraging selling. Share prices are continuously dropping, resulting in a downward trend that investors believe will continue in the long run.

WHAT IS A BULLISH MARKET?

In contrast to a bearish market, a bullish market is a condition in which share prices are rising, encouraging buying. Bull markets are characterized by optimism, investor confidence and expectations that strong results should continue.

WHAT DOES CURRENT PRICE MEAN?

In binary options, the current price or market value of an asset is the actual selling price of the economic resource trading on an exchange. In general, the market price of an asset converges to a point where the forces of supply and demand meet. Shocks to either the supply and/or demand side can cause the market price to be re-evaluated.

WHAT IS THE TIME SHOWN ON BINARYONLINE?

The time shown on our trading platform is Greenwich Mean Time, GMT+0

WHAT HAPPENS WHEN A BINARY OPTION EXPIRES AT-THE-MONEY?

If a binary option expires at-the-money whereby the market value of an underlying asset at expiry time is the same as Strike Price, the rule of full refund applies and the full investment amount is credited back to the trader’s account.

HOW DO I OPEN AN ACCOUNT?

Opening an account with BinaryOnline is a simple 3-step process. To get started, head to the BinaryOnline website and click on “Trade Now”. This will direct you to a page where you can fill in your details. The next step in getting your account ready for trading is to activate it. To activate your account, fund it with the minimum amount of 250 USD, EUR or GBP (or the equivalent of the local currency in your region). To start trading, you also need to provide 4 pieces of compliance documents in line with our KYC and Anti Money Laundering (AML) Policies.

WHY CAN’T I EXECUTE TRADES?

If you are unable to make a trade using our platform, it could be one of several circumstances.

  1. Availability of assets – Assets are country specific and are only traded on the financial markets during the daytime business hours of the country of origin. Outside trading hours, the asset will be marked “Unavailable”.
  2. Technical problems – On rare occasions, technical problems may prevent trading of certain assets. To trade with BinaryOnline, get the most recent version of Chrome or Firefox and enable JavaScript.
  3. Insufficient funds – To make a trade, your account needs to have a sufficient amount of fund and it needs to be in compliance with our KYC and AML procedures.

WHERE CAN I VIEW MY TRANSACTIONS HISTORY?

For a complete list of your transactions with BinaryOnline, including a history of your deposits and withdrawals, log into your account and click on “My Account”. Locate “Banking History”, which is a comprehensive section with all the information you need.

WHAT DO I DO IF I FORGET MY PASSWORD?

If you forgot your BinaryOnline password, you can reset it by selecting “Forgot password?” on the Login page. Enter the email associated with your account and follow the on-screen instructions. Alternately, you can also get in touch with us at [email protected] for assistance.

HOW CAN I UPDATE MY PERSONAL DETAILS?

To edit your basic personal information (ex: name and contact info), go to “My Account” and locate “Personal Information”. Update the information you want to change. Alternatively, you can also contact us for assistance at [email protected] .

IS THERE A REGISTRATION FEE TO JOIN BINARYONLINE?

Registration with BinaryOnline is completely free and there is no hidden fee.However, to activate your account for trading, you need to fund it with the minimum amount of 250 USD/EUR/GBP or the equivalent in your local currency.

HOW DO I DEPOSIT FUNDS IN MY ACCOUNT?

At BinaryOnline, we strive to make trading as easy and convenient as possible for our traders. As such, we allow deposits made by both bank transfer and debit/credit card. Bank transfers take around 4-5 working days to clear.

WHICH CURRENCIES ARE ACCEPTED?

At registration, traders choose the type of currency they wish to use for future transactions. Once chosen, the selected currency cannot be changed at a later date. Our currencies include EUR, USD and GBP but we also accept local equivalents of other currencies for the convenience of our traders.

IS THERE A MINIMUM INVESTMENT AMOUNT?

The minimum investment amount is different for our different trading tools. For example, with 60 Seconds, the minimum investment amount is $5 for indices and commodities and $10 for currencies. However, to activate your account with BinaryOnline, you have to fund it with the minimum amount of 250 USD, EUR or GBP or the equivalent of the currency in your region.

IS THERE A MAXIMUM INVESTMENT AMOUNT?

The maximum investment amount is different for our different trading tools. The upper limit is fixed at 5,000 USD, EUR or GBP or the equivalent in your local currency. Investments cannot exceed 5,000 USD/EUR/GBP per trade.

HOW DO I WITHDRAW PROFITS FROM MY ACCOUNT?

To withdraw funds from your BinaryOnline account, you need to place a withdrawal request. This can be done by logging into your account and heading to the “Withdrawal” section under “My Account”. Once the request is received and processed, the funds will be transferred. This can take anywhere between 3 and 5 business days and should not take more than 21.

IS THERE A MINIMUM WITHDRAWAL AMOUNT?

The minimum amount you can withdraw from your BinaryOnline account is 100 USD, EUR or GBP or the equivalent in your local currency.

IS THERE A MAXIMUM WITHDRAWAL AMOUNT?

There is no restriction on the maximum amount of money that you can withdraw from your BinaryOnline account. You are free to manage your funds as you wish. However, note that there is a fee that BinaryOnline charges when processing withdrawal requests. The fee will vary depending on the instructions you provided for the transfer of funds. Bank wire transfers are subject to a withdrawal fee of 50 USD/GBP/EURO. Debit/Credit card transfers are subject to a withdrawal fee of 25 USD/GBP/EURO. Credit card transfers are also subject to a processing fee of 10 USD, 5 GBP or 7 EUR.

CAN I CANCEL/REVERSE A WITHDRAWAL?

A withdrawal request can be canceled by logging into your account and locating “Withdrawal” under “My Account”. Select “Reverse Withdrawal” and follow the on-screen instructions. This policy was implemented in case you change your mind after submitting a withdrawal request.

WHAT IS A SWIFT CODE?

A SWIFT code (or SWIFTBIC, as it’s sometimes known) is a code that helps overseas banks identify which bank to send money to. For example, if an overseas bank is sending a payment to your account, they will need to know its SWIFT code.

IS IT SAFE TO TRADE ONLINE?

At BinaryOnline, we pride ourselves on providing our clients with a secure and transparent platform for trading. As such, BinaryOnline invests heavily in advanced encryption and firewall technologies to protect your privacy. This is demonstrated by the closed lock (or complete key) that appears in the address bar each time you execute an action or transaction on BinaryOnline. Double-clicking this symbol reveals that communications on the website are encrypted and secure.
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IS MY ACCOUNT SECURE?

All funds deposited by traders on their account are held separately in segregated accounts, which are used for trading purposes only. This means that the funds are safeguarded from any and all crisis. BinaryOnline also strictly adheres to KYC and AML procedures to fight fraudulent financial activities and account fraud.

DO I NEED TO DOWNLOAD AND INSTALL ANY SOFTWARE IN ORDER TO TRADE?

BinaryOnline is a web-based platform for binary option trading and requires no download or installation. Traders have 24 hour access to platform from anywhere in the world that has internet access.

CAN I CHANGE THE WEBSITE LANGUAGE?

BinaryOnline is currently in the process of being translated into other languages. The feature will be available to users in the near future.

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