A high-low option, or fixed-return option, is considered as the most common type of binary option. It is seen in foreign exchange, indices, as well as stocks. Many people have already garnered a hefty amount of positive revenue from binary trading and you can too, with the proper technique and strategy. Particularly, a low deposit amount will give you an edge in trading, making room for more profit. Hence, below are some tips on how you can perform binary options trading with a low deposit amount.
Open an account with a number of brokers
To be able to guarantee success in binary options trading, you need to use a number of brokers. Opening a few accounts with different brokers will allow you to build up a good variety of assets. For sure, you will find a low deposit binary options broker with whom you can entrust your hard-earned money. The most reliable ones will promptly make payments to you once it is due. Some accept a minimum deposit of $10, while others require at least $50. Nevertheless, the payouts are often above 90%, with some even reaching up to 95%, which is considered as the highest percentage of payout in the industry.
Register with a reputable trading platform
Apart from opening an account with a number of brokers, it is also important to only register with a reputable platform. This is to ensure that you won’t lose your deposit amount, no matter how low, in an instant, even without trading. The most reliable platforms accept a wide range of deposit amounts, which are suitable for traders of all levels. Some even have mobile applications that allow you to monitor and perform your trades even when you are on the move. Nonetheless, look for platforms that have reliable customer support to ensure that you have someone to turn to in case of any mishaps you encounter with your account.
Some of the most recommended binary options brokers are:
- IQ Option. IQ Option is a regulated platform that offers forex, indices, stocks and commodities trading. They have video tutorials that you can refer to from time to time, which is particularly helpful when a certain concept seems to confuse you. They are also one of the brokers who have the fastest payout process.
- 24option. 24option is a broker platform that accommodates different levels of traders, from beginners to seasoned experts. They offer returns for aggressive traders who have sufficient knowledge of advanced trading tools such as rollover and sell options.
- Highlow. Highlow provides traders with the ability to invest in various assets. As a result, they have a greater margin of profit. Like 24option, Highlow is also suitable for traders of varying skill levels.
- Be selective with the assets you intend to trade.
Different trading platforms offer a variety of assets that you can trade. While you may be familiar with trading currencies and stocks, you can also trade indices and commodities. In terms of currencies, the most popular binary trading option is EUR/USD.
- Learn the timing.
Take advantage of the free demo accounts offered by the brokers and practice to do some trade before actually depositing some funds in your account. Also practice predicting the price movement because if your prediction is accurate, you will be eligible to collect a certain amount of revenue. A Call is a prediction that the asset will rise, while a Put is a prediction that the asset will fall. This is the High-Low Call Put, which is the simplest option for binary trading.
There are still other options for binary trading, and these are:
- One Touch. In One Touch, the trader makes a prediction on the price of an asset at a given time.
- No Touch. In No Touch, the trader makes a prediction on the price that an asset should not reach at a given time.
- 30-second Trading. 30-second trading is basically a high-low call put executed within a 30-second time frame.
- Option+. Some brokers offer traders the option of being bought back and this is Option+.
To wrap things up, binary trading has been around for a couple of years already and there are already numerous individuals who benefited from it. Some people exert the extra effort to learn the strategies and techniques that will guarantee them the success of their trade. Thus, perhaps it is about time for you to try your luck in binary trading as well, and start off with an advantage of reaping a positive revenue even with a low deposit amount.
Interesting related article: “What is a Trader?“