- Posted March 10, 2014 by
Binary Options Vs Forex In Small Details – Ease Of Trade
Binary Options Vs Forex – Which Market Is Easier To Trade On
Forex and binary options trading solutions are often associated with huge profits, but also with a lot of risks. They are similar from multiple points of view. For instance, they require a lot of time, patience, experience and education. They can make you rich overnight, but the truth is that there are more losers than actual winners. Getting to know which trading solution is more appropriate for your needs depends on a multitude of factors. All in all, one thing is for sure – Forex and binary options have both pros and cons. unless you do your homework upfront, you risk ending up on the wrong market. From that point on, it is only a matter of time until you start losing. Besides, readjusting to a different market might imply wasting both time and money, hence the necessity to learn about your options upfront.
How easy it is to trade on a market
The ease of trade is a main priority for a lot of new traders. You definitely do not feel like overwhelming yourself with dozens of buttons and numerous options on a main screen. Instead, you want something simple with clear and concise steps. From this point of view, binary options are a lot better than Forex. In most situations, a trade can be placed in a basic process that asks for four phases only. Generally, these phases must be handled with simple dialog boxes.
The first step implies choosing the optimal asset, but not before researching it, checking out its history and trend, as well as upcoming estimations. Second, you need to decide how much you are willing to invest. If you are new to binary options trading, do not spend all your money in one shot. Instead, deal with small amounts of money until you gain some experience. Your third step is about evaluating the trend evolution, so you have to select the expiry date. Analyze the latest news and further evolution of the market before choosing the date. Last, but not least, executing the trade implies submitting your plan.
Placing trades on the Forex market
When it comes to the Forex market, everything changes to 180 degrees. You have to calculate a lot of potential situations, such as the stop or limit points, not to mention about lot sizes and other confusing factors. Keep in mind that no matter how overwhelming they seem, all these things are actually very simple if you use a basic platform. On the other hand, if you choose a more sophisticated one, you will only see buttons and dialog boxes on the whole screen. Without any experience, placing a wrong order is part of the process. There are six to eight different types of orders to analyze, while the binary options give you not more than two possibilities. Random guessers will clearly regret not evaluating binary options vs. Forex upfront. Do not hesitate to read more about this comparison before investing any money.
In conclusion, the ease of trade is a very important consideration for new traders, but not the only one. You may also have to analyze:
* Factor of profitability
* Ease of market entry
* Risk elements