For trading in the binary options market a trading platform is required. The trading platform is a software which allows the binary options traders to trade in the live binary options market using their trading account.
When the binary options trading was in its initial phase, the trading platform had to be downloaded and installed in the PC using which you would trade in the binary options market. This had a few disadvantages. The obvious one was that you have to download and install a file. Moreover, you could not just log into your account from another PC to start trading as you would again have to install the software. In addition to this there was also a possibility of downloading a virus or a malware from a scam binary options broker.
Citing these reasons the binary options brokers now offer a totally web based platform. It effectively means that you do not have to download any software to use the trading platform. You can log into your binary options trading account and start to trade from any PC anytime.
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Using a trading platform
In order to access a trading platform you need to open an account first. After you have selected a binary options broker and opened a trading account you can log into your trading account and access the trading platform. The trading platforms now a days are very user friendly and responsive. Anyone can learn to operate these trading platforms in a matter of a few minutes.
The trading platforms of all the binary options brokers are different but they are perform the same function and hence are similar in a basic manner. To use your binary option broker’s trading platform to trade, first of all you have to log into your binary options account. You will be taken to the trading platform as you log in or you may have to select Trade or Trading Platform option to navigate to your trading platform depending on your broker.
In the trading platform you will find all sorts of trading options. The most prominent options will be the type of trading. You can select one from High or Low, One Touch, Boundary Options, 60 Seconds etc. Remember that all the trading styles are unique in their own ways.
If you want to trade you must first select the option type you want to trade. After that you will have to select an asset. It is always recommended that you trade an asset you have been following and are familiar with for a better chance of winning. Next you will have to make a prediction and enter the amount you want to invest. With this your trade will be made.
Now a days the trading platforms show that status of your active trades in a separate panel. Apart from this you can also see the price level movements of the asset you select and analyze it. Many advanced trading features like Rollover, Double Up etc. are also present in the trading platforms using which you can maximize your profit. To sum up the trading platform is like the spirit of the binary options brokers.