How to Make Money online trading Binary Options in Nigeria

0

New methods to earn money online keep appearing ever year. But despite the wide range of methods available, most people still find it hard to make money online because almost all relevant methods available require significant personal investments, such as spending money on advertisements, procuring assets to sell and more.

There are, nevertheless, some methods you can use to earn money online with minimum. It is called the binary and digital options trading. The method involved is simpler than those used in conventional financial markets and helps you to earn more income compared to methods generated through the currency market and stock exchanges.

In order to find the best broker for the binary trade system, use Olymp Trade or IQ Option. The Olymp Trade and IQ Option systems allow you to earn up to 90 percent profit with minimum investment. To start the binary trading option with a broker, you just need to deposit US$10, the minimum amount required by the platform. The minimum trade requirement is $1, which could help you earn up to 80 percent profit from your investment on a regular account, and up to 90 percent on a VIP account.

Olymp Trade and IQ Options are the leading online digital options brokers. The platforms offer many financial instruments toolymp trade trade in. It’s also well designed with a number of technical analysis tools and features that make it easy to apply your preferred trading strategy.

Accessible via web browser and mobile app, you can easily log in to your Olymp Trade and IQ Option accounts from virtually any location with an internet connection.

In order to get the best out of this tutorial, I recommend you log in to your demo account and follow the steps I’ve outlined. If you don’t have an Olymp Trade account, click here to open one and get $10,000 in your Demo account to trade for free. Also, to open account with IQ Option, click here and you get $10,000 Demo account to trade for free.

Binary Options trading is one of the fastest and easiest ways to make money trading. You can literally grow $100 to $3,000 within 3 minutes. But also, you can lose all the $100 within 5 secs. That is why is always advice you start with a demo account, learn how to trade before depositing your own money.  The demo account also makes it easy to identify the different assets, tools and charts available on the platform.

How to trade Binary Options.

1. The first step involves logging in to your trading account. Once logged in, you’re going to see a trading chart like the one below.

The chart simply shows the trend the price movements of the underlying assets are creating. You can change the chart type by clicking on the chart icon at the top left of your trading interface. Example charts you can use include Japanese candlestick and area chart. Other tools you can use on your chart are technical indicators and technical analysis tools. These can also be selected at the top or bottom left side of your trading interface.

olymp trade review

2. Choose the underlying asset pair you want to trade. Olymp Trade and IQ Option offers over 70 different instruments drawn across 5 asset classes. These include currency pairs, cryptocurrencies, commodities, indices and exchange traded stocks. One cool thing about the these platforms are that every instrument is presented along with the expected effective return on successful trades.

To get the whole list of tradable instruments, simply click on the plus ‘+’ icon on the top left of your trading interface.

READ: Best Android Phones under 30,000 Naira with Good Battery in Nigeria 2018

3. Next, choose how long you want to hold position.  There are two options. The first involves choosing the time in minutes or hours you want to hold position. The second involves choosing exactly when to close a trade.

olymp trade app4. The next step involves selecting the amount of money you want to invest on the trade.

Depending on your account type, this can be as low as $1 to $5000.

It’s always recommended that you don’t invest more than 5% of your total account value on a single trade.

Therefore if you’re a standard account holder with an account balance of $500, the maximum amount you should invest on a single trade is $25.

Once you enter the amount to invest, The trading platform automatically calculates and displays what you should expect to earn if the trade is successful.

5. Finally, click on the green ‘up’ button or the red ‘down’ button if you expect the price to be higher or lower at the end of the trade period.

Whether to click on the ‘up’ or ‘down’ button largely depends on your ability to forecast future price movements. This can be done by carefully following the price movements over a certain amount of time. Keeping track of prevailing market news also helps.

READ: Best Android Phones under 20,000 Naira in Nigeria

Disclaimer:
Trading Binary Options carries a high level because you cannot really predict the direction of the market this can work both to your advantage and disadvantage. As a result, Binary Options may not be suitable for all investors because it is possible to lose all of your invested capital. You should never invest money that you cannot afford to lose. Before trading, please ensure to understand the risks involved.
Share.

About Author

AiTech Solutions is an IT firm that is poised to take IT services to greater heights for the benefit of our society. This is a technology blog that publishes tech updates, health and beauty, news update, free tutorials and everything around the technology world.

Leave A Reply

error: Content is protected !!