One of the latest trends of the binary options trading industry is FX/CFD trading. Forex Trading appears as FX/CFD on the BinaryOnline trading platform. The FX/CFD tool offers traders the opportunity to trade on various assets including currencies, pairs, commodities, indices and stocks.
What makes it different?
FX/CFD or Forex Options Trading allows traders to trade on more than the usual amount of assets compared to other tools. The Forex market is the biggest financial market in the world. Beginners should know the basics of Forex before starting to use FX/CFD, due to the volatile nature of currencies. However, traders who are already acquainted with Forex trading can try the binary options version to experience FX/CFD. A unique feature of FX/CFD is the STOP LOSS and TAKE PROFIT feature.
How does FX/CFD Options work?
In comparison to binary options, where traders speculate on the fluctuation of the price of an asset, Forex Trading works on two main aspects – The STOP LOSS and TAKE PROFIT. Traders have the freedom to choose either options depending on their analysis and speculation.
For instance, if the trader feels that the opened transaction has a high probability of resulting in a loss, the STOP LOSS feature can be used. Alternatively, if the trader is sure that the opened trade will result in a profit, the TAKE PROFIT feature can be used. The trader is able to visualise the fluctuations of the currency pair within different time frames – usually between 1 to 12 hours.
Why FX/CFD Options?
- Unlike the usual Forex trading platform, there is neither a fee nor commission charged.
- The minimum investment amount is $25, while the payout can be up to 500%
- There is no need to download any middleware software such as the MT4 since BinaryOnline has embedded a robust and viable Forex platform which is free and easy to use.
- Profits are predetermined. Traders don’t have to wait for the Forex Market.
How to trade on FX/CFD with BinaryOnline?
- In order to trade FX/CFD with BinaryOnline, you need to possess a valid trading account on the platform.
- In case you do not have an account, create one here and proceed with the following steps.
- Once your account is funded and ready to be used, go on BinaryOnline’s homepage, click on “TRADING PLATFORM” and select the “FX/CFD” feature available on the trading platform.
- Next, you need to choose an asset pair, and a Leverage amount.
- Select your STOP LOSS/INVESTMENT amount and TAKE PROFIT amount according to how you think the pair will evolve over a specific period of time. Based on this, you will then be shown your Potential Profit amount.
- The last step is to decide between the “BUY” or “SELL” option and click “APPLY”.
- Once this is done, you can then see the evolution of the currency pair fluctuations over a period of 1 to 12 hours