Binary options provide traders with an exciting opportunity to trade precious metals, oil, or currency pairs in a straightforward and uncomplicated manner. It’s a type of financial instrument that’s perfect for those who want to earn money without getting bogged down in complicated financial jargon. Essentially, it involves making a bet on whether the price of an asset will increase or decrease, with only two possible outcomes for each trade.
When it comes to money and its investment, it is necessary to study sites and option platforms with high quality. This one offers to study the Binany review in order to weigh the pros and cons, and be sure of the reliability of the company. Binary options offer a fresh and exciting way to trade precious metals, oil, or currency pairs. It’s a financial instrument that’s perfect for those who want to make money without the hassle of complicated financial jargon. The idea behind binary trading is straightforward: you place a bet on whether the value of an asset will increase or decrease, and if your forecast is accurate, you’ll earn a profit. However, if you’re mistaken, you’ll lose your investment. The term “binary” refers to the fact that each trade has only two possible outcomes.
Binary trading is a contemporary and lucrative method of making money, and it’s one of the most uncomplicated techniques available. You don’t need to be a specialist in finance or economics to begin. All you need is the ability to anticipate whether an asset’s value will rise or fall, which can be determined by examining a chart that displays price fluctuations over time. (1470)
What is Binany trading platform
- Partner countries: India, Bangladesh, Malaysia, Indonesia, Thailand, Vietnam, Pakistan, Ghana, South Africa, Nigeria, Brazil, Chile, Mexico
- Foundation year of Binany: 2019
- Language used: English
- Available site currency: Indian rupee (INR), Bangladeshi
- Binany deposit and withdrawal systems: Perfect Money, PayPall, Neteller, Skrill
- Available product types: trading stocks, currencies, cryptocurrencies, binary options
- App version supported on android
- Binany bonuses: +100% on the first deposit for new customers
- Support is available via live chat or email – support@binany.com. Technical support works 24/7 and is available for 10 language systems (Russian, English, German, Turkish, French, Indian, Chinese, Vietnamese, Thai, Portuguese)
There are several types of binary options:
- High/Low (high/low) – the most common type of option, in which the investor must predict whether the price of an asset will be higher or lower than the current price at the time of the contract expiration.
- One touch (one touch) – with this type of option, the investor must predict whether the price of the asset will reach a certain level before the expiration of the contract.
- No touch (without touching) – here the investor must predict whether the price of the asset will reach a certain level before the expiration of the contract.
- Range (range) – in this case, the investor must predict whether the price of the asset will be in a given range at the time the contract expires.
American options and Bermuda options are two different types of options that differ in the terms of the contract.
An American option gives the buyer the right to exercise the contract at any time before the expiration of the option. This means that the buyer can choose the moment of contract execution when the price of the underlying asset is most beneficial for him.
The Bermuda option, in turn, gives the buyer the right to execute the contract only on certain dates, which are specified in advance in the contract. This restriction can be both for specific dates and for periods of time (for example, every month).
The difference between American options and Bermuda options lies in the flexibility of contract execution. American options give the buyer greater freedom in choosing when to execute the contract, which makes them more attractive to investors. Bermuda options, in turn, can be more beneficial for the writer of the option, as they limit the buyer’s ability to choose when the contract will be exercised.
In general, the choice between American options and Bermuda options depends on the investor and his investment strategies. It is necessary to take into account all the factors associated with each type of option and choose the one that best suits the investment objectives and risks.
How to register on Binany?
You can start working with the Binani website and its products after registration. To do this, you must first create an account on the platform by filling in the fields with an email address, a password and choosing a currency. After filling in the basic details, they can click on the “registration Binany” button to continue. It is important to verify your account activation email address, as without activation, traders will not be able to sign up Binany.
How do I login to the Binany platform?
If you are an authorized user, you can log in to your Binani account. In the event that the email address has not been activated, traders must do so before attempting to sign in Binany. Once the email is confirmed, traders will be redirected back to the site where they can open their profile. They can then enter their Binany login details and password provided during registration to access their account and start trading.
Deposit and Withdrawal Money
If this is your first time funding your Binany trading account, simply click on the deposit button located in the upper right corner of the platform. Specify the category of the deposit and the payment system that is convenient for you. The next step is to enter the amount and click Continue. It is important to remember that Binany minimum deposit is 50 INR/BDT while there is no maximum Binany deposit limit.
Transactions are usually processed quickly, so you can start trading options right away. In the case of withdrawal of funds, everything is also simple and clear, just select the “Withdraw Binany” option in the site menu. Next, you need to specify the desired amount and payment system. You will also need to provide your wallet number and submit a withdrawal request.
Popular currency pairs for trading in Binany
The currency pair in the binary options industry is a common asset among binary traders.
On Binany com, the popular currency pairs are:
GBP/USD, EUR/JPY OTC, USD/JPY OTC, NZD/CAD, GBP/USD OTC, and GBP/NZD. Each pair has its own unique characteristics, with some offering high volatility and frequent breakouts of levels, while others are unpredictable and require more experience to trade effectively.
GBP/USD: Main currencies: British pound and US dollar. Current rate: depends on the market situation and may change during the day. Factors affecting the rate: political and economic situation in the UK and the US, changes in interest rates, trade balance, inflation, geopolitical risks.
- EUR/JPY OTC: Main currencies: euro and Japanese yen.
- USD/JPY OTC: Major currencies: US dollar and Japanese yen.
- NZD/CAD:Major currencies: New Zealand dollar and Canadian dollar.
- GBP/USD OTC:Main currencies: British pound and US dollar.
- GBP/NZD:Major currencies: British pound and New Zealand dollar.
This pair is popular among predominantly experienced Binany trading participants.
Trading strategy on Binany
The site allows you to use a demo account to gain experience. This is especially good for new users. When you learn the basic Binany trading strategy, you will be able to develop a strategy that is convenient for you and apply it in real life.
Every experienced trader will recommend following the trend and analyzing the market in order to predict price changes. By learning a basic strategy or creating your own, you can build a solid foundation for your trading career. What should a newbie know? Distinguish the meaning of trend lines and economic events to relate them to likely market outcomes. Price fluctuations are the result of changes in supply and demand for an asset in a unit of time, and Binany trading signals can be useful for beginner traders. But this does not mean that such indicators will always give the same result. It is necessary to make informed decisions based on manual regulation of actions and participation in trading with an interval of 1 day to a week.
Pay attention to another tool – Price impulses. Price fluctuations occur as a result of buying and selling, which indicates the supply and demand for an asset in a unit of time.
Trading signals are based on the recommendations and analysis of the market by other traders, and copying their actions can be profitable, and can lead to losses, if only you repeat and do not analyze the data yourself.
Application for trading on Binany
You should note that it is not possible to download App on Google Play. To download Binany app, you must obtain a direct link from the site, find the app at the bottom of the page, click “Download”, and agree to the notification at the bottom of the screen. Once the download of Binany trading app is complete, install the APK file.
Is Binany legal in India?
In India, the lack of appropriate government laws and licenses makes it hard for companies to enter the market. Nonetheless, local traders can trade on the options market.
The platform Binany trading is legal in India. Under the terms of the law, the legal entity is located abroad, the site accepts local currency and offers to users popular payment systems in India. Since the site has an app version, the Binany app is legal in India as it meets all the set conditions.
A BLOCK OF QUESTIONS AND ANSWERS
Can I get my first deposit bonus twice?
This bonus is a one-time bonus and is provided only to new clients on their first deposit.
Can I withdraw INR to e-wallets in other currencies?
It is possible, but we recommend that you take into account the current conversion rate
Do I need to create a separate account for trading in the app?
All versions are synchronized with each other, which facilitates the work of clients and does not require data duplication.
Is Binany safe in India?
We guarantee the security of your data and banking operations, having more than 3 years of experience. However, do not forget that any options are associated with risk and, first of all, the guarantee of success falls on your shoulders.