Binary options have had a rough past year. Unfortunately, a lot of brokers took advantage of the very gambling like system that Binary options offered. Basically binary options gave you a choice, Either you call that a price of a certain stock commodity or pretty much anything will rise our fall, and if you were correct you would get 80% of what you bet.
It was pretty much like gambling but had quite a large return. It is also important to add that we are talking about seconds here, maybe 5 minutes maximum. This was the time between which you had to call for the price. Therefore it was pretty much impossible to make an analysis and formulate an opinion based on news or facts. You just had to guess and hope that you were right or else you lost all of what you bet.
Unfortunately, as we’ve already mentioned a lot of brokers abused this system, buttering up the customers with promises of super high gains. However, they were not lying, because it was possible. Actually, the odds were pretty good when compared to other gambling slots and games. If you would call that a price would rise for let’s say gold, then you were either right or you were wrong, it was 50/50, however, you did not have a stop loss and massive gains required massive risks. The normal trading system would offer you a stop loss system or daily market analysis, but here, you were relying on your gut.
Even though it was very dangerous, if you were able to find a good website or a good broker that you could trust and actually go ahead with the binaries, there were cases where people walked away with thousands sometimes hundreds of thousands of dollars. In this article, we would like to mention where you can trade binary options with Cryptocurrencies. Cryptos are pretty much the best asset trade with binaries, it always has such a quick reaction to news that you can easily identify when it will increase or decrease (more info about it here).
IQ Option is one of the most trusted brokers out there, however, with binaries, you may not require a broker at all based on how fast and intuitive the binary options are. Therefore we recommend IQ Option for their amazing platform. They pretty much hands down have the best mobile trader out there. It’s well designed, it’s fast and most of all it is built for customer convenience. When you are trading binaries you need as much info and comprehensive graphs as possible, to try and apply logic to your next bet, with IQ Option’s platform you will get that and have a lot easier time trading than anywhere else.
O.K. let’s say you don’t want to do it on a Mobile Trader, you want to go old-school because that’s what you’ve been doing for many years and that’s what you can easily say you know. XM is another very well trusted and reliable broker that you can trade cryptos with. They feature MT4 and MT5 for you to enjoy. It’s as simple as one, two, three. Register, Download, Login. There you go you can now start trading binary cryptocurrencies with XM. Good luck in your trading and always remember to be careful what you bet and how much you bet.