Best binary options software
The topic of investment is becoming more and more relevant every year around the world. Whereas previously only prominent market players such as international corporations, holding companies, and banking institutions considered an investment to increase capital, and ordinary citizens had no access to the stock exchange, the situation has changed significantly. The investment platform has become virtual, online trading is now available to anyone who has internet access, a laptop, and a minimum initial amount to activate an account of just a few dollars and, of course, an irresistible desire to understand all the intricacies of investing.
When it comes to financial instruments, binary options trading is prevalent. Traders are attracted by the relative simplicity of binary contracts from a technical point of view, short duration of transactions, good profit (some platforms promise up to 90% of the profit from the initial amount invested).
It is essential on which platform you work. Brokerage companies are constantly improving their trading software, offering more and more functions, features and facilities.
Today, we will look at what qualities of the platform you should pay attention to to choose the best binary options software in New Zealand.
Binary trading: the value of analysis
Binary trading is different from trading other types of assets. Here only two options are possible: either the trader received the profit percentage promised by the broker or lost the invested amount. The main task of the trader is to predict the potential direction of the asset price movement and open a corresponding transaction based on such prediction:
- A "Call" option when you expect the price of an asset to go up;
- A "Put" option when you expect the price of the asset to go down.
A Call option gives the trader the right (but not the obligation) to buy the asset on a specified date at an agreed price. A put provides the trader with the right (but not the responsibility) to sell the asset at a predetermined price at a particular time.
Many beginning traders confuse binary trading with roulette, as they see some similarity in the trading principle where you have to bet on the rise or fall of the price. The only difference is that binary trading is not a game of chance but an investment method, so actions at random are unacceptable.
Many internal and external factors affect the price movement of an asset, such as a company's business, its internal politics (in the case of equities as an underlying asset), political events, and the general market situation. Therefore, forecasting the price is a science-based on careful market analysis, identifying current trends, and making the most accurate forecasts.
Why is it important to choose a quality binary options trading platform?
Because it is thanks to the analytical tools that reliable trading platforms provide traders with, a qualitative market analysis is possible.
In binary options trading, the most commonly used methods are technical analysis.
Technical analysis of binary options is also called graphical analysis as prices are forecasted based on past prices. They use charts and the price history of the asset. Also, the technical analysis indicates which direction the price is going, whether it is rising or falling. This kind of chart determines the current trend: upward or downward. Many different tools, such as indicators or unique chart patterns, determine whether a trend is up or down. The most successful traders are always based on trend trading. Finding the direction is what most binary options strategies are based on, so it is hard to overestimate its importance.
The best binary trading software is equipped with many different indicators for technical analysis. Indicators are straightforward to use; all you need to do is choose the "Indicators" tab on the platform's toolbar, activate it and choose the required indicator from the opened list. For example, the indicator curve will appear on the price chart, which is helpful for analysis. In addition, the platform allows the use of several indicators at the same time.
Also, good platforms are equipped with graphical tools, with the help of which you can build elements of technical analysis, such as trends and support and resistance lines.
Fundamental analysis methods are used in binary trading much less frequently. Fundamental analysis is based on actual statistical data, figures and reports. Significant natural phenomena, changes in the country's political direction, strikes, and disasters affect the long-term forecast of the market. In contrast, the monthly ongoing but not very significant changes help investors in the short-term forecasts.
Such events occur regularly globally, so by keeping your finger on the pulse, you can always find the moment to make a profitable investment.
On terrible news, prices go down; on good news, prices go up. Thus, one of the most popular trading strategies is based on fundamental analysis, called trading the news.
The best application for binary options has a news section as well as an economic calendar.
The economic calendar is the primary tool for fundamental market analysis. On the calendar page, you can choose the period for displaying upcoming events: today, tomorrow, this week or specify your period; further, the resulting list can be filtered by currency and importance of news. It makes sense to pay attention to medium and high importance news, as they greatly influence the market price. Each event contains a detailed description of the news item, including its impact on the asset's price.
The availability of suitable analytical tools is the main characteristic of the best binary options software.
But there are also other essential characteristics, which we will discuss below.
Trading platform: user-friendliness
Brokerages are constantly improving their online trading software, so today, we have a good selection of platforms with rich functionality, improved menus, and customisation options.
Now you can make the following personal settings for the platform:
- Change the trade room design theme, colour palette and chart display type (line, candlestick, bars or Heikin-Ashi);
- Choose the number of charts that are displayed on the screen. Quality trading platforms allow you to open several working windows at the same time, changing their size and location with a simple drag and drop;
- Create different alerts about asset price changes, opening or closing a position, and market news; choose the alerting method, such as a screen background notification, push notification in a trading application, or email notification. You can also order a personal manager call;
- Set up commands for specific keyboard shortcuts - this will significantly speed up your keyboard work;
- Lock up some personal information from public viewing or choose the "incognito" mode. In this case, the program will automatically generate a pseudonym that will be shown to other bidders in the chat.
These seemingly insignificant settings significantly improve the quality of the trader, making the process of trading as convenient and comfortable as possible.
In addition, the best binary options software has user-friendly menus, quality graphics and an intuitive interface.
Registration and account opening. Training section
Quality trading apps combine multifunctionality and sophisticated trading tools with fairly straightforward use. Even if you have no experience with the trading platform, you can register, open an account and start trading without any problems.
To register on the platform, you should:
- Visit the broker's official website;
- Find and activate the button "registration";
- Fill in the registration form with your username and email;
- Check the box that you have agreed to the terms and conditions of the site and the proof of age;
- Confirm registration by clicking on an automatic link sent by the system to the specified email.
You will then have access to a demo account and all the information on the platform.
The demo account is yet another feature of the best binary options software. It is a test version of a live trading account, with which you have the opportunity to practice trading at the initial stage.
In addition, quality trading software contains a tutorial section with video tutorials on trading. By combining the video lessons with practice on a demo account, you can get into the essence of binary trading quicker.
It's important to remember that trading on a demo account will not bring you any real profit, because in this case, you are operating with fictitious system funds.
To start real trading and get real profits, you have to:
- Verify your profile. To do so, you will have to make a scanned copy of a document confirming your identity and fill in all your profile details, which the system asks for. Follow the system, and the verification will be easy;
- Deposit a real account with an amount no less than the limit set on the platform. It's usually a small amount of a few dollars, so anyone wishing to invest can start this activity even without having significant capital.
Convenient deposit and withdrawal options
Quality trading platforms cooperate with reputable payment systems, ensuring reliable transactions and fast execution of payment orders.
A live account is automatically generated when you register on the platform; all you need to do to activate it is to make a deposit.
Each platform sets its minimum deposit and withdrawal limits. When choosing a trading platform, be sure to pay attention to these limits and choose based on your financial capabilities.
To make a deposit, activate the "deposit" option, select the option to make a deposit. The system will offer you several options for depositing funds, the most popular of which are depositing with a bank payment card or via Internet payment systems.
Choose the most convenient variant of the recharge, fill in the recharge amount, taking into account the size of the minimum allowable recharge amount. If you have chosen the top-up option by card, additionally specify the card number, card expiry date, cardholder's name and the CVV security code, which can be found on the back of the card. Finally, confirm the transaction on your account in the banking application you are using or in your payment system account.
The funds are credited to your account on the platform instantly.
To withdraw from the platform, select the same method you used for funding your account.
Other characteristics of quality trading software
A state-of-the-art trading platform is your virtual exchange and personal broker at the same time.
In addition to ease of use, convenience and excellent tools for analytics and trading, the best binary options software provides access to many assets.
In binary trading, the most popular underlying assets are currencies and stocks. The highly volatile forex market attracts mainly day traders as it gives them an excellent opportunity to make a good profit in a relatively short period. On the other hand, the stock market is easier to analyse, so stock options are also popular among traders.
The advanced trading platforms have a mobile version and a tablet version, which are entirely identical to the desktop versions.
The platform has an around-the-clock feedback system to deal with any technical issues that may arise. In addition, technical support chat is available in several languages - choose the language of your choice, and a consultant will reply within several minutes.
When you choose the best binary options software in New Zealand, you prefer comfort, security and reliability. So open an account today and see for yourself all the benefits of quality trading. Make your investment a success!