Guide

Guide

Cryptocurrency Trading

Trading Cryptocurrency

Worried about missing out? Here's a speedy plan to help you start trading cryptocurrency quickly:

Determine whether you wish to possess the cryptocurrency or merely speculate on its price movement. If you’re interested in speculating on the price, you’ll require a broker.
Deposit funds into your account.
Purchase the cryptocurrency you desire or initiate a trade based on its price.

Congratulations, you are now a cryptocurrency trader! Trading crypto typically involves speculating on its price rather than owning any of the actual coins.

Forex Trading

What are the benefits of trading forex?

The forex currency market provides day traders with the opportunity to speculate on movements in foreign exchange markets and specific economies or regions. Additionally, with no central market, forex offers trading opportunities around the clock.

Market liquidity –
In the 2020 forex market, the average daily trading volume is $6.6 trillion. This abundance of trades and market activity provides ample opportunities for traders to execute trades and capitalize on market movements.
Variety –
Initially, there are currency pairs derived from the eight major global currencies. Additionally, numerous regional currency pairings are available for trading. This wide array of options provides traders with more opportunities to profit.
Ease of access –
Although not operating 24/7, the forex market remains readily accessible, open twenty-four hours a day, five days a week. Consequently, traders have the flexibility to determine when and how they wish to trade.
Trading leverage –
A substantial portion of forex currency pairings are traded on margin. Leverage enables traders to purchase and sell large quantities of currency. The greater the quantity traded, the higher the potential profit – or loss.
Minimal commissions–
Forex trading typically involves lower costs and fees compared to other markets. In fact, some firms do not charge any commission at all, with traders only paying the bid/ask spreads. True ECN firms may even offer zero spreads!

Binary Option Trading

A Condensed history

For those considering full-time binary options trading, grasping their origins is essential. Binary or 'digital' options have existed for decades, initially accessible only to large institutions and the affluent. However, in 2008, the US Securities and Exchange Commission catalyzed a paradigm shift by permitting binary options trading through an exchange.
The internet and technological advancements have subsequently democratized access to these 'digital' options worldwide. Presently, with minimal entry barriers for adept day traders and a straightforward proposition, the demand for digital trades is poised to escalate further.

Types

There are various types of options to choose from, with the most popular types listed below in a brief glossary:.
Up/Down (High/Low) – The most straightforward and common binary option is the Up/Down option. It involves predicting whether the price will be higher or lower than the current price when the expiry time arrives.
In/Out (Range or Boundary) – In an In/Out or Range option, high and low figures are established. Traders then speculate on whether the price will conclude within or outside of these predefined boundaries..
Touch/No Touch – In a Touch/No Touch option, specific levels are set either higher or lower than the current price. Traders then decide whether the price will 'touch' these levels between the time of the trade and expiry. Payout occurs immediately upon the touch taking place.
Ladder – Ladder options resemble up/down trades, but instead of relying on the current price, they feature pre-determined levels that are staggered up or down. These options typically require a significant price movement. On the flip side, returns often surpass 100%. However, it's important to note that both sides of a trade may not always be available.