Several tips and tricks are available in online articles and they can be applied when clients want to check if a broker is reliable or not, and if investing money through a certain website will be profitable or dangerous for the trader in question. People are naturally very careful when it comes to funds that they earned through their hard work, and it makes perfect sense that they can sometimes be hesitant when investments are in order. This is not one of those articles and lists, but it is similar in the sense that it will elaborate on a broker which offers trading in binary options, and we will check if “CTOption scam” is actually possible.
Those tricks and instructions that are mentioned at the beginning of the text mostly consist of several basic steps: research and reading. Clients are usually advised to read as much as possible about the broker that they want to sign up with, and to do as much research as possible. This research should include steps like checking if address and contact information are functional, if there is a working customer support, if terms and conditions are not having anything hidden within the text, and similar. Reading should be focused on reviews, newspaper articles and recommendations, with as much experiences of real-life users as possible. Also, very important is to check if a broker is regulated by one or more of the respectable regulatory bodies, since companies that are not having one these licenses can easily be dangerous for the trader.
When it comes to “Tropicaltrade” or “CTOption” in particular, this website is certainly not a scam, and this is something that we should get cleared right away. This broker house is a perfectly reliable company, which operates in a totally legitimate manner, and there were almost no complaints about the performances and activities of this enterprise. “CTOption” scam is not possible due to several very clear reasons, and all clients should know them before they start trading with this highly successful trading website. Experts and experienced traders have tried and tested this broker, and when all results showed that trading with “CTOption” is safe and protected, clients have rushed to register their accounts with this broker house.
First of all, “CTOption” has one of the best customer support teams on the market, and clients can contact them any time they want, 24/7. This feature is not possible with scam brokers, because they fear of being identified and for similar obvious reasons. Additionally, there are top-notch security protocols and safety solutions incorporated into daily operations of the website, such as depositing the money and subsequent withdrawal, which enable complete protection of funds and personal information of the customer. Also, and perhaps most importantly, “CTOption”enables clients to test all features of the website without spending any money, and this can be done thanks to free demo account. This option provides them with the possibility of “looking around” to see if they actually like the site and if they will register with “CTOption”, and many of them do, once they see what is on offer with this broker.
When trading binary options, one of the key factors for successful trading is choosing the right broker. Not only that you need to make sure it is not scam, but all of the features should suit your needs, and it is desirable for the broker to offer various account types and various additional features you can use when you register and start trading.
Porter Finance is one of the most reliable and among the most popular binary brokers on the market. They have been around since 2014, and yet they have managed to become one of the most trusted brokers by many traders. They have not obtained a CySEC license yet, since they are new on the market, but many positive reviews and references present them as a reliable broker. And what is more, they accept the traders from the USA. They operate on Spot Option platform, which makes their trading platform user-friendly, fast and reliable.
Porter Finance offers four types of accounts: Basic, Standard, Silver and Gold. In addition, a demo account is also available for the traders who register and place the first deposit. These are some of the features available with different Porter Finance accounts:
- Basic – this account requires a $500 initial deposit, and the trader is granted up to 25% welcome onus. The trader will receive weekly market updates and a free e-book with basics of binary trading.
- Standard – minimum first deposit with this account is $1000 and the welcome bonus can reach 40%. In addition to a free trading e-book, the users of this account will receive market updates on daily basis and they will be awarded one trading strategy. Also, the Academy membership is granted to the users of the Standard account, where they will be able to find many educational materials which will improve their trading.
- Silver – Silver account requires a $2000 initial deposit and grants a welcome bonus of maximum 60%. In addition to all the features available to the users of the two smaller account, Silver account traders also get to attend 5 webinars, they are granted 3 risk free trades, 3 one on one lessons, and they will have their own dedicated broker to help with the trading. Money management system and expedited withdrawals are also available with this account.
- Gold – the account which requires a $5000 initial deposit and rewards a bonus up to 85%. All the above features are available, but the number of webinars available is 10, there are 6 risk free trades and the Academy membership.
The options offered by Porter Finance are numerous, so you will be able to trade classic Call/Put options, Pairs, 60 Second, Long Term, Ladder and One Touch. They also offer some additional features which are very useful for risk management strategy: Buy Me Out, which allows the early exit from the trade before the option expires; Double Up, which gives a chance of doubling the investment before the options expires; and Roll Over, which gives the additional time to the option’s expiry.
If you choose to trade binary options and you have never done it before, it is advisable that you use some mock trading first, in order to practice the method and the strategy you are going to place. Even if you have had previous experience with binary trading, it is good to use a demo account if your broker provides it, because this way you can get to know the broker’s platform when you first create an account with them.
Demo account offers trading without investing real money, so there are no actual winnings, but no losses either. Most of the brokers offer a demo account, and since it is usually completely the same as the real one, it is necessary to find a good broker first. Any review you can find on the Internet will come in handy since they analyze every aspect of the broker and display all of the features. One of the legal, licensed and reliable brokers is Stockpair, Boss Capital, with a comprehensive platform and a possibility of creating a demo account.
Most of the brokers offer a demo account upon creating an account and placing the first deposit for trading. The average deposit is $200-$250, but there are brokers with smaller and larger deposits needed for the basic account. Depending on your preferences, you can choose a broker and start trading on their demo account before switching to the real one. If you decide not to trade with the particular broker using their real platform, most of the brokers offer the chance to withdraw your initial deposit back, either in whole or only a part of it. In addition to this majority of brokers, there are also some which offer a demo account without the previous need for registration or deposit. There are the brokers which do not offer demo accounts at all, under various excuses, but when choosing a binary broker, make sure to choose the one with a demo account.
Demo account is a great tool for any trader to get to know the trading platform of a particular broker, or to practice implementing a trading strategy. However, sometimes using only a demo account may not be enough. Most of the brokers place the time limit on using the demo account. It can range from 48 hours to 7 days. This can be enough for experienced traders, but if you are beginner in binary trading, it is not nearly enough. You cannot spend only a few day trading fictional money and switch to real trading immediately. Once the time allowed for using the broker’s demo, you can continue with paper trading. This also means no earning, but it is more important that you will not lose money either. Use the platform and the charts to monitor the market, and since you have seen how the options look on a demo account, write the trades you would perform on a piece of paper or in an Excel chart. Monitor your progress, develop a strategy, and only when you are completely certain of your acquired skills, proceed with real trading on the broker’s platform.
Knowledge about trading on forex is not the only thing that will make you successful, the choice of right broker plays important role in it. The whole process of finding broker should not be too long, but verifying that broker should take some time. This time is needed to check all aspects of that broker in order to decide whether he is right choice for a trader like you. Remember, we are not all the same, so some of us look for different things in a broker, things some don’t are about at all.
So, first stem is actually finding a broker, or market maker, as they are known. You should watch for few things while searching, whether the broker is stationed in one of the major countries or it works off-shore, regulative situation of that broker, the size of that particular market and support quality. There are more things to look for, but these few are the most important to have on your trader.
You should aim at large market makers. They should be at least regulated in 3 or 4 major countries, including USA and UK if possible. Large traders have numerous amount of employees which benefits all traders, making their lines always available to traders such as you are. And big market makers have a lot of money to invest into their platform which i never bad. Trading over such market maker ensures the safety of your money.
Be sure the check the stats of market maker you are interested in. If he is regulated, then you will be able to find a site with all their stats. They have to follow some rules if they want to be regulated, and informing yourself about those is smart as well. If you can’t find any reliable site with stats about the broker you want, then it probably means that they are not regulated, and avoiding unregulated market makers is best option for you. Transparency of their business is another advantage of regulated market makers. They are obliged to provide insight in their business, which unregulated brokers don’t have to do, and in most cases they choose not to reveal anything. You can look into the case of binary options trading and examples such as Ctoption scam site, they are unregulated and they can cheat people without any harm coming to them.
Opening virtual trading account, or demo account as it is usually called, is your next logical step. Every respectable market maker should have this type of account available to all of its traders. This account will allow you to have insight of trading over that broker. Taking the software, you will use for real trading, for a test drive, with virtual money is a step no one should skip. No matter how well you are acquainted with forex trading, every software and every broker have their own perks, and starting normal trading without getting familiar with software is not wise at all.
Check the sources of both types of analysis market maker offers, but don’t rely on them only. Be sure to have your own sources, and do your own reseach.
Telling you that there are some things that influence exchange rates between currencies apart from demand and availability would be futile, because that is I hope common knowledge among my readers. Still, knowing that those factors exist is one thing, knowing what actually they are, and how they influence those rates is another thing. My task for today is to explain some of the major factors, how they work and so on. And I will do that as best as I can. You may stumble upon articles about Binary Option Robot, software that promises automatic trading with information gathering. Don’t trust it, it has no connection to any form of trading at all.
Inflation, is I hope a term known to all of you. If it isn’t then go back to basics, because this is not middle school article, this is more of a trader guide. The difference in inflation is one of the factors that has strong inflence on exchange rates. Constant inflation that is low, will strenghten the currency, and its value will have rising tendency. Some of the best examples of low inflation are USA, Canada, Yapan and Germany. Then we have countries that have big inflation. Their currency value has a falling tendency. If this continues for longer periods of time country can lose their grip on inflation and bad things can happen. Best example for this would be Zimbabwe, whose inflation is constantly high, and their money has no real value. This came to a point where paper with which the money is printed with has bigger value than the banknote printed.
Interest rate is connected to boh exchange rate and inflation. In order to lower high inflation interest rate must be brought up. This weakens the value of currency, but it also lowers the inflation. High interest rate is a long term solution to the problem of high inflation. If inflation is under control then interest rate can be low, which will not hinder currency value growth. Best example of low interest rate I can think of is Japan. Their interest rate is zero, which boosts yen strenghts and value.
Deficits in current account has hinder the growth of currency vlue. If there is such deficit it reflects the lack of power of the state to earn as much as they are spending in foreign trade. To put it in simple words, country needs foreign currencies in their foregin trade, becasue they don’t generate enough of their own currency.
If country has a large public debt, then it sets a chain of events that end up in weak currency. To improve their debt, countries resort to printing more money. More money increases the inflation, which leads to weaker currency.
Amount of foreign trade has its own effect on currency. The ratio between export and import is the most important aspect of this trade. If export is higher than import, currency gains strength and vice versa. Strong trade equals strong economy and strong economy equals strong currency.
The last important factor is country’s stability which includes all political and economical factors that keep the country on its legs. Country with low stability means that anything can happen, and people void their currency which causes it to fall.