Binary Options Trading Software
Binary Options Trading SoftwareJune 30, 2012
When talking trading software specifically designed for binary options there is not too much offered out there. In general, we can divide the whole pie into three pieces, or types of trading software that are available online.
The first is the type of software that advertises how it will assist you in making the correct trades. To be specific, you have software like mastertrader or etf3.ifii which will give you the actual tools to make your analysis and develop a trading strategy. This type of software usually includes charting features like candlesticks and bollinger bands, data tools like a breakdown of stock tickers broken down by volume, trades made, percent gainers and losers, live charts, online broker help, live financial news, and educational assistance.
This type of software is not cheap, and is broken down by packages. Usually there is a lot of heavy trading going on, not necessarily trading binary options but definitely Forex, commodities and stock trading in general. Usually this type of software is purchased either as an additional tool to create a more robust and analytic trading environment, but not solely to trade binary options. It’s recommended you just dive in and purchase a few of these tools, it’s worth every cent and will make you a better trader.
The second type of binary options trading software are the regulated brokers or exchanges. Among these you will find North American Derivatives Exchange and the Chicago Board of Options Exchange. Here you have the traditional trading software with all the possible trading options like you would have in a brokerage firm with fees that range from 0.90 Cents per contract. Depending on the volume of trades that you make, positions you have open, and the amount of risk you take, you can always try to renegotiate your fees, however the chances of that happening are very slim. Still, you can trade binary options in the traditional sense. Meaning The bid price fluctuates as the day progress, but always settles at either 100 if you bet correctly or zero if you fail to project the right outcome of the underlying asset. Your profit and loss ratio is calculated according to the difference between the total settlement prices (meaning a summary of zeros and 100’s) and the opening prices of the stock or the prices you purchased or sold the assets at.
The third and most interesting type of trading software is actually free. Today’s Cyprus regulated options platforms such as Tradologic, and Spotoption will offer you binary options trading strategy software as well as free trading systems to trade stock, commodities, forex, and indices. How does it work? Its very simple, in most cases you will have all the tools you need in order to made successful trades including a free demo account and explanations on various trading options like one touch options, range, digital, or matrix and 60 second options.
The trading platform will not charge you any fees or commissions at all. Their profit structure is different, they make their money according to a payout structure. Meaning, purely from a mathematical perspective some traders will win and others will lose their investment. The house will make its money based on wins minus losses, or in other words deposits made less money that is derived from winning trades and is withdrawn. Now there will always be people who win and people who lose, this is fine. Their job is to make sure they pay out to the winners only by mitigating risk and micro-managing the open positions and bonuses given to traders. Your job is to understand how to manage your risk and be one of those winners and play according to the rules.
If you feel you want to open a free account at one of our recommended brokers and start trading and making money check out our reviews section located on the right panel or simply click Here and start trading.
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