Binary option is a method of trading options with fixed payout in which you predict the outcome from two possible results regarding the probable movements of prices of assets listed in the financial markets. You can choose whether the market will go up after a particular time; for this, you will enter a BUY trade. This is also known as a CALL trade.
On the other hand, you can choose whether the market will go down, and for this, you are entering a SELL trade, otherwise known as a PUT trade.
If you make your forecast with binary options and get it correct, you will earn the agreed payout.
Otherwise, you will lose your stake and nothing more – if the outcome turns out incorrect.
Binary.com Broker Kenya
Binary.com is one of the oldest internationally recognised online derivatives trading platforms. It was founded in 1999 and it is owned and managed by The Regents Market Group. Binary.com was previously known as BetonMarkets.com until in 2013 when it was re-branded and transitioned to put more emphasis on binary options and general derivatives trading.
Aside from the head office in Malta, Binary.com has satellite offices in Japan and Malaysia from which it provides global binary options and derivatives trading, brokerage and related services.
The Binary.com platform allows you to use the instrumentality of binary options to trade all the underlying assets listed on the financial markets found across the globe. These include the Forex, indices, commodities and stock markets amongst others.
Binary.com has more trading durations than any other trading platform in the industry.
The expiry period for which you can hold your trades on Binary.com is the most diverse you can find anywhere. Binary.com provides time frames and trading durations spanning between 10 seconds and 365 days.
Trading with Binary.com is safe. It is regulated by the Malta Financial Services Authority as a Category 3 Investment Services. It is working on getting registered with and regulated by more financial regulatory bodies spread all over the world.
Binary.com Trading Platforms
There are several platforms through which you can get to trade Binary.com; however, no matter the channels, they can generally be divided into 2 major divisions:
1) The Basic Trading Platforms
These include the Binary.com WebTrader platform and the Binary Tick Trade App, which is available for download and installation via the Google Play Store and the Apple App Store – for Android devices and those powered by the iOS operating system, respectively.
You can make use of the Binary Tick app which is specifically designed for trading on the go.
It is worth noting that most of these basic platforms are developed as proprietary trading platforms by Binary.com itself.
2) Advanced Trading Platform
The advanced trading platforms are usually third-party trading platforms upon which Binary.com holds its trading software, although some are proprietary as well.
The advanced trading Platforms typically contain more features than the basic ones; furthermore, they are usually meant for more than only trading binary options. They also feature other types of online trading including CFDs trading, forex trading and advanced options trading.
This is quite understandable bearing the fact that Binary.com is more than a binary options broker; it is a comprehensive derivatives trading broker.
We should also note that the advanced trading platforms allow automated trading. These advanced Platforms include the Meta Trader 5 platform, Binary WebTrader, Binary Next-Gen platform, Binary Bot platform.
How to Trade Binary.com in Kenya
Trading binary options with binary.com is very easy.
What you need is to pick either of UP or DOWN direction for whatever asset you choose to trade.
If we are to outline steps as to trading with Binary.com for each trade you make:
1) Choose an asset to trade.
Binary options has lots of markets to trade — including: – volatility indices, commodities, Forex and crypto coins.
The asset you choose to trade will depend on a number of factors. Such factors you should look into are listed below:
a) The current market situation
You can look at the current market situation of assets in the general financial markets to select which you will trade. If a certain market is experiencing times of massive moves, it is quite advisable to avoid trading such markets. For instance, in the early times of the COVID-19 pandemic, there were massive moves in the stock markets across the globe. At such times, it will be the best decision not to trade stocks.
However, on the other hand, when these serious movements and uproar were happening in the stock market, the Gold market was experiencing a lot of steady increase and there were no wild volatility. As such, it may be advisable to trade such a mamarket.
b) The time and time frame
The particular time of the day or week that you want to make such trades should also be considered. Time frames affect a lot of market movements.
For instance, you do not want to enter the American stock market to trade any stock at the time when the market is about to close in New York. This is because there is usually massive volatility in the stock market around this time.
Then, on the weekends you may want to look into trading cryptocurrencies such as Bitcoin because the moves on weekends are usually a bit measured and minimal. No spikes or surprise volatility usually occurs on the weekends.
c) Fundamental analysis
Similar to what was mentioned in (1) above, you should strongly consider conducting some levels of fundamental analysis to determine how the news will affect market performance.
You should note that a lot of events and happenings affect how the markets move. And as such, you should be careful before entering trades when particular happenings are ongoing. Or as an alternative, you should properly decide what the potential effects of the events on the market will be before you make trades.
For instance, during the Brexit deliberations, the Great Britain Pound (GBP) experienced a lot of wild moves that caused a lot of people to experience heavy losses. Only a few actually had profits.
As such, it will be really unwise for you to make some trades a few days to the 2020 US elections or few days after the elections are concluded. The markets will extremely be volatile during these periods.
d) Your Preference
Finally, however, the choice of asset to trade might also be down to what your preferences are as a person. If you love cryptocurrencies so much and properly understand how they work, you can go on to make Bitcoin trades. Also, If you love your favourite brands, you can trade their stocks.
2) Choose the start time, duration of trade and your stake amount.
The next thing you should pick is when you want your trade to start, as well as how long you want the trade to last.
Binary options trading is a game of time; what determines whether you are profitable or not is if your desired direction of prices occured at the expiry time you set. That is, for instance, if you set a BUY trade and an expiry of 1 hour, you are expecting the market to go up. But you can only profit if the market moves in the up after the 1 hour has elapsed. Otherwise, you are not making any profit.
So properly conduct your fundamental and technical analysis to properly measure the proper expiry to set.
Binary.com has expiry periods ranging from as low as 10 seconds up to 365 days (a year).
Similarly, you also have to pick the stake amount. This is the amount you are willing to risk for the trade. If the trade goes in your favour, you win a fixed percentage of this amount based on your broker’s set payout. So if your binary options broker’s payout percentage is 85%, you will be paid exactly 85% of this stake amount.
On the other hand however, if the trade turns out to be against you, you lose all of this money. As such, we recommend that you don’t risk more than 2-3% of your account as stake amount per each trade you make.
3) Enter your buy or sell trade.
Upon selecting your desired instrument and conducting the right analysis, you now have to pick the direction of your trade. Can also be referred to as CALL or PUT trade.
Before we talk about login, you must first be signed up to Binary.com trading Platform.
To do this, go to the official site; the button to register is spread all over that page. You will be able to sign-up using few different methods. You can login via Facebook, Google+ or just email.
Remember to sing up using a secure browser. Do not use unsecured browsers or networks you do not know. This is to prevent phishing that could lead to fraud and debilitating losses.
Once you have undergone the entire registration process, you can now go on to login.
Logging in to the Binary.com platform is easy. You can use the same Google or Facebook account for this. There is also the email option.
You should note that you still have to undergo further verification process for your account much later, if you want to use it to trade live.
Binary.com Demo Account
Binary.com demo account Kenya comes with $10,000 of virtual funds. Traders only need to provide their email and password in order to open Binary.com demo account. Other brokers usually ask for more details and some of them provide the first deposit in order to activate the demo. Binary.com allows traders to register without the credit card details or any kind of payments.
How does the Binary.com demo account work?
After they open a demo account traders can choose to place trades with different markets like Forex, Indices, Stocks, Commodities and Volatility Indices. The demo account welcomes traders with a walk through guide that shows a step-by-step instruction. Aside from the market list, traders can choose the underlying asset they want to trade with. The next step allows traders to pick a preferred trading type: Up/Down, Touch/No Touch and In/Out. Below the trading types, traders have the option to set the start time, duration or end time and preferred payout or stake amount. After the trade parameters are adjusted, a trader needs to predict the direction of chosen assets and purchase the trade. This step completes the trading process and a trade will be executed.
Binary.com Minimum Deposit in Kenya
One of the main advantages of Binary.com is the lack of division into different types of accounts, such as, for beginners or for VIP traders. From the very beginning you get access to the same wide range of tools for successful trading.
You can start working with a broker after making Binary.com minimum deposit of just $5, and start trading the global financial markets.
It should be noted that Binary.com minimum deposit is probably the smallest in the entire field of trading options, since other broker’s minimum deposits start from $ 10.
Credit/Debit Cards: Visa, MasterCard, UnionPay;
E-wallet services: These include FasaPay, PerfectMoney, Skrill, Neteller, , WebMoney, Ukash, Qiwi, YandexMoney, Paysafecard and a few others.
Bank Wire: Bank transfer, Internet bank transfer, Western Union and Internet banking.
E-wallets deposits are either instant or can take up to a day; with credit/debit cards you may wait up to 3 days and for bank transfers to clear you may need to wait up to 5 days. All of the transactions should be done in the currency of your initial deposit. It is either USD, GBP, EUR or AUD.
How to Withdraw from Binary.com in Kenya?
It should be noted that the channels through which you used to make your deposit in the first place is the same channel through which you use to withdraw your profits whenever you wish to.
All you have to do is go to your dashboard on Binary.com site and follow the guides there.
Apart from the above channels, there are third-party channels through which you can make withdrawals. One of them is via Shop Em-pesa.
Is Binary.com Regulated in Kenya?
While no institution in Kenya directly has any regulations on Binary.com in Kenya, Binary.com is regulated by other credible and well-trusted financial regulatory authorities in other climes.
Is Binary.com a Scam?
Of course not, Binary.com has a good history behind it. It has been around since at least 1999, and was one of the very first to come into the binary options brokerage space. Since then, it has maintained its industry leadership. It is still as trusted as it was years ago.