Binary Options in Canada – Is it safe to trade?
Trading, Investments, Money, Cash, Binary Options brokers, platforms, Forex, auto-pilot, etc. are all terminologies which almost every internet user is acquainted with, surely.
But, there is yet another term, which is associated with all of the said terminologies, and that is – binary options. To have a clear understanding of what binary options actually are, you are provided with all the information needed, later on in this article. Maybe you already came across the term while doing some research, e.g. on making easy money online, jobs that require working from the comfort of your home, or maybe you simply heard people mentioning it.
Digital options – what are they?
Still, if you are not yet familiar with the term binary options, that’s only natural. It is actually a brand new, very recent way of making money online, through binary options brokers such as the very popular broker BDSwiss who operate binary option platforms. There can be more than one broker operating a single platform, and it is through these platforms that the clients make investments, trades, with different stocks and assets.
Although you might still be confused about the whole use of this new technology, so to speak, it’s actually the incredible simplicity of their use that makes them more and more popular, by the minute. After reading this article, you’ll know everything about the binary options, how they are effective, why you should use them, and, of course, what good it does to you.
When looking at the trading industry, there is no easier option to take into account, than the digital option. Nowadays, sadly, products that grow in popularity tend to lose in quality. That is not the case with these digital options, or all-or-nothing options, as they are also called. They are astonishingly effective and completely undamaged by its growing popularity. The outcome of it all is a big profit for the clients, who end up on easy street.
How to find the broker to your liking
The Binary Options Broker is just as important as the whole hardware(the platform). They depend on each other, and function as one. When looking for an acclamied binary options broker, you will have a great variety of choice. Choosing the best broker for you is an important move. Whenever you are trading online, the quality of it mustn’t be compromised in any way, at least not by the functioning of the broker, which affects the quality of the transaction, directly, when talking about binary options.
In the following graphic you see what a broker can offer you. However, it might be the case that you aren´t able to trade contracts for difference or currency pairs, but that doesnt have to affect the quality of the broker. It is just something that is missing there.
So, what you want to do is to first find a fitting binary option platform. Again it’s the same case as with the brokers, you have many available, but be careful to find the platform that you need. You should firstly get to know the platform, which you had in mind in the first place.
They all look similar to each other, but don’t be mislead! Every platform is special, different from the other, with different features that make them stand out from the rest. The most well known ones would be: special bonus, exclusive service, different options of a binary options broker, such as the refund possibility provided by the digital options broker Anyoption minimum deposit required, etc.
Once you have chosen the platform for your trade, only then should you start looking for the right broker who can operate the said platform. Because, as mentioned earlier, they work together, man and machine, hand-to-hand. How you can do that? Just by researching about the binary platform and all of its components, and easily you’ll find the matching broker.
One more thing that you should take into consideration is if the binary options broker is regulated or not. Nowadays it’s easy to make any profile misleading and appealing, but no matter how appealing a broker can look to you, you should always find, opt for one that is regulated, meaning he is legally guaranteed.
There are many ideas, factors, concepts regarding binary options, but the most important ones, which you should have in mind when making a decision about going into online trade, are:
- Is the broker I hired regulated by law/international institutions or not?
- With what platform is the broker associated?
- Which brokers are available?
- With which platform components, like assets, indices, stocks, is it possible to make the trade?
- What support and customer service assistance does the broker offer? How is it possible for you to contact them and what is their response time?
- Is the exclusive auto-pilot feature available?
- Is it possible for someone without any experience in binary options to easily use the platform, for example of the broker IQ Option? Or if someone is familiar with the technology, but is merely a beginner in it?
More about the regulations of binary options brokers is in the paragraph below.
The regulation of digital options brokers in Canada
Since there are lots of binary options brokers to choose from, it is highly recommended for clients that they check if the broker chosen is a regulated binary options broker. When talking about people who are in business with online trading, what’s most important for most of them is exactly what we are talking about now; the regulation of binary options brokers. After all, they are investing money, so clients want to feel as safe as possible.
Again, you have something else to check before you start investigating about your binary option broker, first, you should check if your own market is regulated or not. This is something that depends on the country you are in, regions, etc. If somehow your country, that is to say your market, does not allow online trades, perhaps it would be best to look for a non-regulated binary options broker.
Nevertheless, if you found yourself in such a situation, it’s always best to do some good research, read reviews from other users who found themselves in the same uncomfortable situation like you. There are sometimes even worse circumstances, so as mentioned a few times, always prepare and do your homework on your market, the broker, and the platform. Luckily, there is a place where you can find all of these things, and it’s callled – the internet. Absolutely everything regarding this topic, can be found just by googling it.
Now, how a binary options broker is regulated differs from one country to another. For example can the regulations differ from brokers that operate in Australia or in Europa In the case of Canada it is important to mention the following information. Nowadays there is no specific regulation in regards with Canada and Binary Options. What does exist is CSA – Canadian Securities Administrators. This agency is composed by securities regulators from different provinces and they streamline the markets in operations in Canada.
We say regulated, but you can call it however you want to; registered, licensed, as long as you grasp the whole concept of it and what it actually means for you as a client. The most known, the most recognized entity, when talking about brokers, is the CySEC – Cyprus Securities and Exchange Commision, which holds more than 20 registered binary options brokers. When you find yourself a broker that has the license, you’ve done the most important part, but as already said, you should go into detail to find the specific broker that suits your needs. The most important characteristic of a reliable broker is it´s regulation. The CSA and the CySEC are in this regard trusted organizations.
What broker offer
There is always a risk when dealing with investments, stocks, brokers, you’ll always have two outcomes: win or lose. Yes, the binary options also operate the same way, no matter the redundancy. However, most of the binary option platforms nowadays offer a new, revolutionary way of trading with an auto-pilot robot. An exclusive innovation, made to help you with your trades, without taking a dime off your account/profit. Sounds incredible, doesn’t it?
Different assets, stocks and factors influence and make binary options what they are today.. The most important ones that should be remembered are: assets, products, indices and foreign currencies. To get a clearer picture of what offers or bonuses are, simply imagine something extra, something added to a package. A special offer, so to speak. Or, look at it as a promotion, thanks to the profits you made as user of the binary options platforms.
This site offers, not only many binary options platforms, but also gives you access to some general, key information that will interest you a lot. As you, surely, have already concluded, one of the most important things in this trade is to find the binary options broker, or brokers, who will help you in maximizing your profits, which can change your life for the better, and along the way, help you to collect various bonuses and offers, depending on the trade you made.
Of course, the same factor should be taken into account when searching for a decent binary options platform, as these said bonuses will maximize your profit, make you a happier client, and essentially, bring more benefits to your lifestyle, granting you the chance to fulfill your dreams, maybe.
The different kinds of bonuses that you can get, are divided according to the binary options platform, and of course, the broker. Some will give you the chance to access a number of discounts on the minimum required deposit, needed in order to start trading online, others may allow you to upgrade and update your account.
As it goes with every branch of work, or trade, when there are bonuses included, it’s much more fun and interesting. Nowadays, that’s something very common, because clients love it, and why wouldn’t they, it’s extra money. In addition, the bonus can get bigger and bigger, as you progress from the beginner level, to intermediate or a full professional.
What are the risks when trading with digital options?
Of course, as is case in almost every job that you do online, even working with binary options has its risks. For example, whenever you have any type of an investment, there is a risk that you will lose it, unfortunately. Also, there is an even better chance of getting a win out of the investment.
What can you do to avoid the risks? Risk management, as it is known, means that you should always choose binary options platforms and binary options brokers that instill confidence and safety in your mind. Doing research about them is always a good idea to know what you are dealing with, and you can never do it enough.
After doing all of those things, there is still a chance that you can lose. But risk management made it sure that the chance of the risk is at least smaller, and the chance of winning bigger, percentage-wise. The less the risk, the more the profit with binary options.
There are, of course, different strategies that can help you even more, in avoiding the risk of losing. Many binary options platforms are enhanced with the auto-pilot feature, which is an ideal option for people who have no clue of what binary options are, and how to manage them.
Nevermind if you are a beginner, an expert, whenever you make a decision, especially when it’s about the strategies involving risk management, you personally should study and analyze what to do, which assets, indices, platforms to use, you will be guided to a maximal lowering of the risk.
Of course, as you are aware, there will always be some risk, taken with respect to the market and how it can fluctuate. If you are going to invest all of your earned money or if you’d rather go for smart decisions and invest just part of the money in order to generate more profit.
In that case, if you lost, the lost amount wouldn’t be as high as if you had invested all of the money, which would result in running out of all profit. You wouldn’t be able to continue trading and investing, and no profit could be made. Having in mind how much money you have beforehand, and how much you can afford to lose is of pivotal importance for you, as a client.
To be able to limit the initial exposition and just make online trades with the money that wouldn’t greatly impact your profit in the case of losing, is a good way to avoid problems. A golden rule, so to speak, followed by many professionals in this business is that you shouldn’t risk more than 2% of your profits.
Yes, it might seem to you as a pretty small amount of money, but when it’s a big amount that’s at stake, the 2% will actually not be such a small number, right? Naturally, you would try to lower the risk of losing money, in that case, so a small percentage is a good percentage.
This, exactly, is the reason why more and more people that started trading with binary options are opting for a demo account, provided by 24 Option, for example. Those are accounts that are offered by many binary options platforms, which allow seeing a real simulation or rehearsal of the market, different online trades, etc.
The only difference would be that in this case, if you selected trades or right investments, which results in winning a lot of money, that wouldn’t be real money, only virtual fake money, that’s transferred into your bank account. Still, it is an excellent way for learning, and getting ready for actually winning real money.
So, you should definitely pay close attention, whenever making any decisions about the binary options platform, always check if a demo account is offered with it, as it will not only help your career in online trading in the binary options industry, it will also allow you to access the interface and see how everything actually works, which features the platform offers, and many other options that you maybe knew nothing about. With that in mind, you’ll be able to find the binary options broker suitable, who stands out from the crowd and is waiting to become your chosen one.
The platform should be seen as a whole
Sometimes, it can happen that you are dealing with a demo account and you’ve just found out that the binary options platform that you’re using doesn’t actually suit your preferences and needs completely; maybe it hasn’t been fully set-up, maybe it’s faulty, whatever the case, the demo account will help you in recognizing any problems, and avoiding future disadvantages when signing up. You’ll avoid losing precious time and you won’t risk any profit. And, of course, the search for the broker will go easily, without any trouble, thanks to the demo account. Is there anything better than this precious thing?
Keep in mind that a free demo account is not everything. What worth does such an account have if the trading platform can hardly be used or when the instructions are written in a foreign language? That´s right. In case that you do not think that a demo account is enough, you can take a look on other brokers such as BDSwiss, which has established itself on the market and is now home for many traders from all around the world.
Although there is a lot of information here, the instructions are pretty simple, and as you know, by now, the most important thing is: be careful and pay attention. Every time you make any research, take this as a manual, and you will know what to look out for, what to check in advance, etc. Don’t let yourself be tempted by any frauds, or fooled by the first nice thing that you see, remember: see the platform as a whole. There are always pros and cons in a device, e.g. a platform may offer you some bonuses, but it lacks some essential features that you need.
Always remember to analyze everything, pay attention to the choice of the broker, to the benefits, to the regulations, and you will have a great start. Decisions like this are incredibly important and they will determine the outcome of your trading, benefits, profits and of course, help you in lowering the risk of losing any money.