Best options trading platform in Singapore
Learning how to deal with trading options is not as difficult as it might seem at first glance. The most basic tool you need to use when you start learning about trading is the trading platform.
First, let's designate the concept itself, an option is a derivative instrument of the stock market, it is always based on some underlying asset. That is, there cannot be just an option, but there can be an option on certain stocks, on an index, on gold. An option is an agreement between a buyer and a seller, which stipulates a price and a period after which this agreement comes into force. That is, you acquire the right to buy an asset at a predetermined price, or sell it.
The main reason an options trading platform is really needed is that you will be using quite a few indices to trade options, and you need a platform that can make these indices easier to use.
Here are some of the main features that you should look for in a trading platform when you start learning options trading.
The best options trading platform should have an extremely simple set of indicator icons. Our platform has the MACD indicator, RSI, moving average and others. There are many indicators you can find, but you need a system that is easy to understand and intuitive. You don't want to waste time fumbling around looking for your signs or wondering which ones to use when you really need to see the purchase price or other relevant information. Inexperienced traders can quickly get confused by this and miss important signs that could cost them money.
The platform, which the trader gets access to, already has a built-in option for displaying a price chart, while information can be obtained in several forms.
In total, it is customary to distinguish three types of graphs:
- in the form of bars.
By opening a demo account on our platform, you can get acquainted with these tools in more detail and get used to them without losing money.
Also, one of the greatest characteristics of an options trading platform is that the system should allow you to easily place market orders. You cannot place market orders on your computer if your trading platform is clumsy and difficult to use. You should be able to place market orders with confidence and with just a couple of simple clicks. Here you can use a convenient application for a PC or smartphone and the market will always be at your fingertips.
Another characteristic that an option trading platform should have is the support for multiple option contracts. This is very important if you are an experienced trader and use different options contracts for different currencies, stocks, commodities, indices or other securities.
Your platform should be easy to navigate. You should be able to quickly access charts and other information that you used to make decisions about your transactions. Options trading platforms that offer a great user experience and a clean user interface are the platforms you would like to use to trade. The trading platforms provided by these companies are often very intuitive and their user interface is also very compact. This can be said with confidence about our platform, see for yourself!
Good platforms like ours aren't incredibly expensive. We do not require you to invest huge amounts of money in advance. For example, with us, you can make a deposit of only $10 and with this amount open a real trading account.
What you want to do is make sure that the trading platforms you choose to have a fantastic reputation and that they provide many tips and tutorials available to users of the system. You should also make sure that the trading platforms you are considering have options and futures stocks. The more a trading company has to offer in this area, the better.
Types of binary options?
Let's start with the definition of a binary option - this is such an exchange contract used to earn a trader due to the price movement of an asset (currency, cryptocurrency, raw materials, shares) in the global financial market.
The profitability of a deal is determined not by the price of the selected asset itself, but by the correct forecast indicated by the trader in the deal he opens. To make a profit, a trader must indicate the direction of price movement immediately before the time of closing this transaction.
Binary options involve several theories when they are traded. There is an underlying asset that is being surrendered, there is a route to follow along with a trade, and there are several possible outcomes in addition to the options to consider. However, it is very important to understand certain factors in order to determine the outcome of binary options trading. For example, you need to know if the traded resources are call or put options, when they expire, how much deposit is required, and so on. These points should be well understood before contacting a binary options agent.
Let's take a look at the basic terms you should know.
An asset is a trading instrument offered on the broker's site for making a forecast. Currency pairs, business indices, commodities or groups of commodities, shares of international companies can be represented.
Put option - execution of a deal, involves a decrease in the price of the selected asset. Forecasted by a trader in case of expectation of such a fall.
Call option - making a deal, involves an increase in the price of the selected asset. It is predicted by a trader if such growth is expected.
One touch is the opening of a transaction when the price of an asset reaches a given level, called One Touch or the impossibility of such an achievement, called NoTouch until the moment of the selected time interval.
Expiration - the duration of an open order. The total of the order will be fixed at the expiration of the time interval selected by the trader.
In / Out options - execution of a deal to buy an option, when predicting the trading band of finding the asset price before the expiration time (In option) or finding the asset price outside the trading band (-out option).
Timeframe - displaying the movement of the asset price on the chart at a specified time interval.
When buying a binary option, you can earn up to 85% profit from your bet amount. But if you lose, you lose everything. Therefore, a binary option is often called all or nothing.
The closing time for such transactions is from one minute. To compare, interest from a bank account can be received in 6 or 12 months.
To make money with binary options, a trader must be well-informed and have a very clear understanding of how a trading strategy works.
How to start trading options in Singapore?
One of the most effective methods of getting education in the field of options trading is opening a demo account for trading options. Our platform is a trusted online brokerage site offering options trading, services and training materials to help members learn more about options and other assets through a demo account.
Demo accounts are available for traders to practice their strategies and assess their level of ownership of financial instruments. This helps to assess whether the dealer's level of trading experience is sufficient to be successful in binary options trading.
If you are just getting acquainted with the best options trading platform in Singapore, then it is advisable to first open a demo account, we will provide $10,000, this amount will be on your virtual account. Losses and profits in this case will also be virtual. This allows you to trade without using any funds. This will allow you to become familiar with the trading platform, options trading terminology and the trading environment of the market. You can also gain valuable insight from tips and tricks shared by experienced traders.
We advise you to go through the video tutorial on working with the market, posted on our platform. It will be available after free registration.
It is also possible to seek software that can assist you in your transactions. Install it on your PC or your smartphone.
If you want to trade options with real profit, you will open a trading account with us, and as mentioned earlier, you only need $10. It is very convenient that the deposit is small, because if you are a beginner, it may be dangerous for you to immediately invest a lot of money, do not rush, it is better to start small.
You need to learn about stock trading before you start investing in options. Thus, you will not lose more money during the procedure. In fact, you can protect yourself from mistakes by getting the right education. This is due to the fact that many mistakes are made when traders do not have sufficient knowledge about trading options. They tend to make risky decisions that can lead to the loss of a lot of cash.
But you can avoid mistakes if you choose our brokerage company and undergo your training. For our part, we settle everything to provide you with information and convenience. Your task is to gain knowledge. To trade profitably on binary options, you need to use strategies, conduct your own analysis, more often technical (due to the short terms of transactions). Of course, these are separate large topics for which there are headings on our site.