Best binary options software
In online trading, binary options have a leading position among the assets. Traders are attracted by the possibility of making good money in a fairly short period of time. Brokerage companies are known to offer up to 90% profit on a trade, and the trade itself sometimes lasts only a few minutes or even seconds.
In addition, there is also a widespread misconception that binary options are a scam. It is easy to explain by the fact that many beginning traders often take binary options trading for a gamble. Why is it so? By its nature a binary option is a trade where you make a prediction that the price of an asset will rise or fall by a set amount of time. If you correctly predict the price direction you will make a profit, if not you will lose your investment. And if in investing in other assets you can only lose the difference in value of the asset, in case of binary options you lose all the money you invested in the option. This feature, combined with prediction, is associated by many with gambling betting.
However, investing is not a game of chance and predicting market trends is not a guessing game, but a result of careful analysis, using sophisticated indicators and the laws of fundamental and technical analysis.
Therefore, trading binary options requires appropriate tools and features in the trading platform. A quality trading platform is one of the main prerequisites for your quality trading and successful trades.
Today we are going to take a look at what should be the best trading software for binary options trading in India.
Binary options trading software
An online trading platform is special software that is designed to give you access to investment market operations via the internet. All you need is a gadget on which you can work comfortably (laptop, computer, tablet or mobile phone), access to the internet and a few dollars of start-up capital.
How to choose a quality software for binary trading?
Most traders note the following are the main differences of a good trading platform:
- Easy and fast registration on the platform. The developers of good trading platforms have made sure not to discourage a potential trader from trading at the start, so they have made registration on the platform as easy as possible. Quality and reliable trading platforms do not require complicated initial registration, with personal details or confidential information. You fill in a simple registration form, test the platform with a demo account and try trading. Only when withdrawing funds from your account, and when dealing with large sums of money, the system may ask for additional verification - this is solely to ensure the safety of your funds.
- The availability of a demo account. Reliable trading platforms always offer a demo account before you start live trading. A demo account is a test account, which allows you to practice learning about the platform and all its features, as well as practice trading, to see how accurate your predictions of price movements are.
- Flexible settings. Quality software is characterised by flexible personal settings. That is, you can customize the type and colour of the quote chart, the size and location, as well as the number of trading windows, an interactive bar with the display of required alerts, alerts for asset price changes and much more.
- Convenient methods for depositing and withdrawing funds. Low transaction limits. An important prerequisite for choosing a platform is the convenience and availability of settlement transactions. Good investment platforms work with reputable payment systems and provide instant funds to the account. At the same time, low deposit limits will make it possible to begin trading even for those without much initial capital, and the ability to withdraw funds, starting from just a few dollars, will attract the loyalty of traders.
- Availability of qualitative tools for market analysis. Traders who trade binary options mostly use technical analysis. Less frequently, but fundamental analysis methods are also applied. The best trading platforms offer traders convenient functions and analysis sections - indicators for technical analysis, economic calendar and news section - for fundamental analysis. These help to make correct predictions and increase the chance of a successful transaction.
- Handy trading tools. Good software also offers the possibility to use convenient tools for trading, such as a multiplier (leverage function), automatic alerts and so on.
- Availability of a mobile version. It's convenient because it allows you to always have access to the platform at your fingertips, wherever you are.
- Feedback. Of course, the availability of technical support is an important point when choosing a platform.
So, the best binary options trading software is not just a trading application with "open" and "close" functions. It is a powerful tool in a trader's hands to make successful trades and earn good money.
Let's see below why these points are important when choosing a trading software.
Downloading the app and registering on the platform
Quality binary options trading platforms are usually designed to work on any device - computer, laptop, tablet or mobile phone - and are compatible with different operating systems, working equally well on Android and iOS.
So it's up to you to decide which device you feel most comfortable working on and download the app. Of course, it is possible to use several applications on different gadgets in parallel. Quality applications will ensure that your data is instantly synchronised.
Important: When downloading applications for trading, use only official websites and sources, as downloading applications from third party sources can be risky: Many websites distribute free "pirate versions" of popular applications and games in the form of APK files. These are often infected with malicious features such as premium SMS messaging, data theft, device encryption, espionage, etc.
Installing the app usually takes a few minutes without taking up much space on the device.
Registration on the platform is standard and straightforward, not time-consuming and does not require any special technical knowledge. All you have to do is fill in a simple registration form with your username and a valid email. Then you have to confirm the registration using the standard method, using an automatic link that the system will send you to your email. That's all. You can use the trading platform.
Simple and easy registration is the quality of reliable software. Use only official websites of brokerage companies for registration.
Testing the platform with a demo account. Video lessons
The best brokerage companies have taken care of the safety and security of trader's funds, so the platforms of such companies provide a demo account.
What is a demo account? A demo account is a test version of a real account, through which you have the opportunity to explore the platform's features and functions, as well as practice trading without risking your own money.
The demo account works similarly to a real account, except that the only difference is that you will be given a certain amount of fictional money to invest. This money is automatically credited by the system to your demo account when you register on the platform. You can open trades, buy and sell different assets, connect leverage, use indicators, create stop orders, i.e. all the operations that you would do from a real account. Since fictitious funds are used, you will not lose money if a trade is unsuccessful. Of course, if your test trades turn out to be successful, and you see profits on your demo account, you will not be able to withdraw them, as they are not real money.
A demo account is a great way to practice trading for free, without taking any unnecessary risk.
In addition, good trading platforms are equipped with a tutorial section, where you will find handy and straightforward video tutorials on investing. The accessible presentation of the material is backed up by examples on the charts, so the lessons will be understandable even to those who have had no trading experience at all before.
Watch the video lessons, practice with a demo account and you'll learn the ins and outs of binary trading quickly and easily.
Flexible system settings
It is very important that you are comfortable with the platform. How comfortable you are with the software, whether or not your eyes get tired and whether or not the software interface suits you will largely determine the outcome of your trades. The developers of trading software are aware of this, so they added the ability to customize the platform, based on personal taste and wishes. You can change the type and colour of the chart you use, by selecting bars, candlestick chart, line chart or Heiken-Ashi. You can also change the design theme by choosing the most suitable from those offered by the system. High-quality trading applications allow you to open several working windows on your screen simultaneously, as well as change their position and size, simply by moving the windows with your computer mouse. Setting up a notification system will help you control the trading process. You can set up push or email notifications.
You can also choose keyboard shortcuts for faster operation.
When choosing a trading platform, be sure to go to the "settings" section and check out the interface editing options offered by the software. The best binary options trading software is sure to please you with its flexible settings.
Convenience of payment transactions
Pay attention to the deposit and withdrawal methods available on the platform. To do this, click on the 'deposit' option and the system will automatically redirect you to a page with a list of payment systems you can use to fund a real account.
A real account means real transactions, so remember to proceed with caution. Investing is an activity that involves some risk of losing money, so start by trading with small amounts. The minimum amount you need to deposit on most trading platforms is usually a few dollars, so you will be able to increase your funds gradually as you gain experience in trading.
The minimum withdrawal amount for a real account is also low, and you will be able to withdraw even small profits. Withdrawals can be made using the same methods as deposits.
Tools for quality trading
Options are one of the most popular and, at the same time, controversial assets for trading. While offering the possibility to earn up to 90% of the invested amount, options, at the same time, receive a lot of bad reviews in various investment forums. Why so? The reason is that an option contract is simple: make a profit or lose the whole deal. Because of this polarity of results, the options got the name "All or nothing", i.e. you either make a profit or you lose the whole deal amount. However, the trade is considered successful for you if you were able to correctly predict the direction of the price of the asset. Therefore, based on the nature and the nature of the option contract, many people often take binary options trading as a game of chance, with an option as a bet and profit if the prediction is right. Based on such comparisons, novice traders open trades at random.
In reality, binary options trading is not a game of chance. There are strict and rather complicated rules of investing.
You don't have to guess the price movement of an asset to be successful. You have to predict the price movement based on general market trends. Correct market analysis will help to make correct forecasts and your deal will be successful. Forex traders use methods of technical and fundamental analysis.
The best binary options trading software is the one, which is provided with necessary indicators for technical analysis and also the economic calendar for fundamental analysis.
Using the built-in indicators is very convenient. You simply choose the one you want and activate it. The indicator chart will automatically superimpose itself on the price chart and show a clear picture for analysis.
Talking about trading tools, leverage is often used in binary trading. The multiplier feature, which is built into the best platforms, allows you to activate the leverage with a click of your mouse. Simply select the multiplier factor and the leverage is connected.
Other benefits of the best futures trading software
In addition to the benefits mentioned above, the best binary options trading software is also packed with many additional features that make your trading experience as comfortable and convenient as possible.
On many platforms, you will find a chat room to communicate with other traders, a statistics section, a market analysis section, tournaments and a news section. Of course, a quality platform must provide feedback to be able to resolve ongoing technical issues 24/7.
To choose the best binary options software, pay attention to the availability of these features. But remember, a good platform is not yet a guarantee of successful trading. Investing is a vast and capacious subject that you need to study in order to get good results. Take advantage of the tutorials, practice on a demo account, visit Forex Forums and you will learn all the ins and outs of binary trading in no time. Do not rush to invest large sums, start with a few dollars and build up your turnover as you gain experience.
Your discretion, caution and willingness to learn, will sooner or later produce good results.
You can open a demo account right now - it is free and safe!