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Online Trading Options: Here is How South Africans are making thousands while seating at home

These days there’s hardly a country in the world that isn’t involved in online trading. It’s a financial practice that’s opened the doors to many who in the past might have had an interest, but not necessarily the financial means or the high-level skill need to trade on the formal markets.

In many ways, binary trading is both traditional and considered to be quite a simple way to trade currencies and make a profit. With binary trading, the payout will be a fixed amount and you will be able to predict the outcome from two possible results. Many traders especially the novice ones usually start with binary trading, so how do you start?



Know your style of trading

You probably already know that you should trade within your means and assess the level of risk you’re willing to take on. You’ve set aside a trading budget too, which for beginners, is recommended to be less than 10% of your entire portfolio. Next, you’ll want to pick a style of trading that suits you most, to maximize your success while minimizing your costs.

Step 1 – Find a broker 

This is one of the most important decisions you will make. You need the best binary options broker that meets all your requirements and who will enhance your trade performance.

Step 2 – Choose An Instrument/Market 

You can trade binaries in pretty much everything, including stocks, forex, indices, and commodities. You can bet on anything from the price of natural gas, to the stock price of Google. opt for an asset you have a good understanding of, that offers promising returns.

Step 3 – Decide On An Expiry Time

Step 4 – Decide On Size

Step 5 – Choose An Option

IS IT LEGAL IN SOUTH AFRICA? 

In South Africa, online trading or binary options is not illegal, which is why it’s experienced a tremendous upsurge in the last five to ten years. However, the practice is not yet regulated by the Financial Services Board (FSB) of South Africa.

Content created and supplied by: MBCNetwork (via Opera News )

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