When we hear the word binary, the first thing that would pop up into our minds is numbers, particularly the numbers 0 and 1 but in this case binary option trading is referring to financial trading.
But before that, we need to discover what option means in the world of economics and finance. Option is a representation of a contract by both the option writer, the one who sells and option holder, and the buyer. This contract gives the buyer the right to sell and buy security and other stocks by a negotiable amount or price during a certain or specific time.
To further emphasize the these types of option, let us differentiate both of them. The sell or put options can make an option sell a certain amount so the buyer would want the stock to decrease while the buy or call options can make an option buy at a certain amount so the buyer would want the stock to go up.
In general binary option trading is referred to as the new type of investment wherein people can easily gain profit from the money movement of huge businesses, stocks and commodities in which commodities are primarily and practically needed. In order for us to have easy access over the continual updates whether growth or fall of the investments profit and other financial data and to make use of the technological advances, binary option trading software was invented.
However there are advantages and disadvantages in using binary option trading software as what it usually is whenever technology is mentioned
With the help of binary option trading software you can:
• trade options and view your profit’s condition easily
• automatically makes types of trades
• other binary option trading software doesn’t need you to be online always just to make a trade, you can do it even offline
• technological advances makes it easier for you to compare the previous and latest changes of your trading profit
• user doesn’t need prior knowledge about the trading system software as long as the software is reliable and is not under the blacklist of scammers
Let us also look upon the disadvantages in using the binary option trading software. These are:
• Scammers and fraud brokers are always present and you are prone to them.
• Less knowledgeable users may be attracted to its advertisement without further research about the software
• Reliability of the software is questionable especially if it was an excellently hidden scamming software against the blacklist and anti-brokers software
It is common sense already that if you are letting other people handle your money which is very essential for survival by the way, you must beware and be cautious of the reliability of the person you trust and that is why you must be cautious also in trusting websites and trading softwares so that it