How to Start Trading Binary Options

Here is an easy guide to getting started with Binary Options for those of you who are brand new.  This will get you set up and put you on the path to trading successfully.  For those of you unfamiliar with Binary options, we recommend you read our overview of what they are and how they are traded.

To start trading, follow these steps.

1. Sign up for a Binary Options account with a reputable broker. If you are from the US/Canada or Australia then start trading binary options here.

Rank Broker Min. Deposit Max Returns Features Review
review $250 88% + WELCOME BONUS
review $10 85% + FREE DEMO ACCOUNT
review $250 91% + 3 PROTECTED TRADES

2.Deposit your funds so you are ready to take advantage of opportunities when they arise, but do not begin trading live yet.  We recommend starting with a small deposit, not more than between $200-$500 is needed but this is up to you.

3.Set up a demo account, this should be extremely easy with the broker to trade in a sandbox mode.

4.Read our binary option trading tips.  This guide is a basic overview of strategy for new traders.

5.Place at least 20 trades in demo mode before making one live trade.  At this stage your focus is on getting a feel for the trading platform and entering trades correctly, as well as beginning to develop your read on how the market moves and factors that influence movement.

6.Begin placing live trades, not more than $5-$10 dollars per trade.  Remember the goal is not to make a million dollars with one trade, it is to systematically make money over time.  You need to start small in order to trade with a clear head, and to work on your strategy without taking a huge risk at this point.

7.Contact us if you would like help with your trading or developing your strategy from this point, remember we are here for a resource to help you learn and grow as a trader.  Things to keep in mind: what time of the day are you trading? What are you using to indicate a trade setup? Did you write your rules down and are you following them every time?  Are you using larger size when you have more conviction on a trade?  Let us know what you are doing and we will help.

This is a guide to getting started.  For more advanced strategy read our posts and strategy guides, and feel free to contact us.  The more you learn the higher the probability of you making a lot of money, so we recommend it.

Daniel Major

B.S. Degree in Economics and Finance. Professional day trader. Live and work in Manhattan, NY, NY.

Page Updated: October 19, 2016

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