Binary Options (Classic) refers to the name of the standard binary options platform that most online brokers offer to their clients for placing trades. When you log into the homepage of Banc De Binary binary options broker, the Binary Options (Classic) Platform holds the main position on the page with its featured chart and “call” and “put” buttons. Familiarizing yourself with this platform and all its useful tools should be the first priority in your foray into the binary options trading world, for this platform will become the base of your trading career.
How to Use Binary Options (Classic)
Binary options trading provides you, the trader, a great gamut of assets to trade, giving you full control over the structure and content of your trading portfolio. The Binary Options (Classic) platform allows you to choose among currency pairs, stocks, indices, and commodities according to your personal preferences. Once you select an asset and study its chart, it’s time to choose an expiry date for your trade from the list of options provided by the platform. The time-frame of your investment, whether short or long, depends on your estimates regarding price movements and the preference of your trading style. After you set an expiry time, you may enter the amount you would like to invest. On the Binary Options (Classic) platform you can see the return rate of your investment, typically between 70-80 percent, so you know exactly what to expect from all successful trades. Now, all that remains is to hit the “call” button, if you believe the price of your chosen asset will rise within your selected time-frame, or the “put” button, if you believe the price will fall. That’s it! You’re a trader!
The user-friendly interface of this platform and its ease of use attracts not only beginning traders, but also seasoned traders. The simplicity of the platform takes unnecessary guessing out of your trading strategy and allows you instead to focus on the parameters of your trade that really count: type of asset, expiry time, investment amount, and return rate. Mastering the Binary Options (Classic) platform, moreover, will allow you to understand the other binary options platform provided by your broker, all of which are variants of this basic one.