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New industries are born daily thanks to the internet and the large global community it has created. One such industry is online binary options trading. One might call binary trading the new Forex market, which has some truth to it.
Online binary options trading is a hot new market and it provides a solid alternative to a person trying to get out of the nine to five mold but does not have the time or flexibility to start studying the Forex market.
Online binary options trading is as simple as you can get and there is some serious money to be made. If you create an account with the average binary broker, chances are you will find a very simplistic Web based trading environment in which the most blatant two symbols are an up and a down arrow.
Trading binary options is just that, guessing (or predicting if you want to be politically correct) whether an asset (Forex or commodity) is on the rise of decline. In theory, you do not need to know very much about finance to partake in online binary options trading. In practice, the more you know, the more educated your prediction will be.
Whether or not you are a financial expert, you have a 50% chance of “winning” and coming away with some nice profits. The great thing is that you know exactly how much you are going to gain or lose in each trade and that cannot be changed.
If you take it slow and trade responsibly, which is to say, you do not risk money you cannot afford to lose, you might find yourself loving the binary trading arena.
Although at the end of the day you are trading currencies or commodities, the differences between Forex trading and online binary options trading are tremendous. The most obvious difference is simplicity vs complexity.
One thing most people would agree on is that the average Forex platform is not super intuitive and with all the charts integrated into the platform, the average Forex newbie would feel overwhelmed almost immediately. That is not the case with binary trading. The average binary platform is something that can be operated by your average 11 year old.
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