How to Trade Binary Options as a Beginner? Binary trading requires basic knowledge, patience and common sense. In this article we guide South African traders through all the steps necessary to place a binary option prediction software trade in binary options.
For more brokers, see our broker page. Binary options are nothing else but a prediction of an asset’s price direction in a prespecified amount of time. The price doesn’t have to go too high or too low for traders to make a profit. All they need to do is predict whether the closing price will go higher or lower than the opening price as shown in the figure above. If the price stays the same, then traders receive their investment back. On the other hand, if the prediction is wrong, then the trader loses the investment.
Step 2: Practice with the free binary options demo account Practice binary trading with a free demo account available to South Africans, before switching to a live account in order to get familiar with the binary trading platform. In this section there is a detailed explanation on how to place a successful trade with the legendary IQ Option platform. Select Asset To start with, traders need to select their asset from the drop-down menu as shown here. A large selection is available as always by IQ Option.