Binary Options Trading Beginner Basics

This post will cover the very basics of Binary Options trading, and it will do so with a short presentation video, linked below.

Full disclosure: We get paid a commission fee if you sign up using any of the links on this site.

We will help you understand the basics of Binary Options trading such as:

  • How does Binary Options work?
  • How do you enter a trade?
  • Where can you go to get trading support?
  • What about signal services and trading support groups?
  • Is Binary Options a scam?
  • How can you really make a lot of money with Binary Options?

Learn how you can join over 2,000 Traders just like you as part of an exclusive trading group and find out how you can:

  • Register for Free
  • Avoid paying any monthly membership fees to a group that consistently delivers over 80% accurate signals
  • Get over 30 signals per day from expert traders and top admins that get paid to deliver good signals every day (except weekends, of course)
  • Learn how you can participate in live webinars and take live trades during webinars with step-by-step explanations and trading support
  • Trade market news such as the monthly NFP (Non-Farm Payroll) that can rake in thousands of dollars
  • Get the support of a group of traders that feel like family

Join the group and read the posts on this site to find answers to all the following common questions:

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  • Binary Options Results

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  • Binary Options Scam Or Not?
  • Binary Options Worth It?
    • Yes, without a doubt. It also protects you against the more recent market volatility.
  • Can You Make A Living With Binary Options
    • If you have a win rate of 80% or better, or follow traders that spot winning trades 80% of the time, you will definitely be able to live off trading Binary Options
  • Can You Really Make Money Trading Binary Options
    • Yes, you surely can really make a lot of money trading Binary Options
  • Forex Binary Options
    • Trading Forex Binary Options is one of the most popular trading assets
  • How To Always Win At Binary Options
    • You cannot always win at trading, no matter what the scammers tell you. As long as you get at least 65% or better, you should be fine.
  • How To Trade Binary Options
    • So glad you asked! That’s what this post is for.
  • Is Binary Trading Legal
    • Yes
  • Most Reliable Binary Option Broker
    • In the USA, the most reliable way to trade binary options is through the Nadex exchange since they are fully CFTC regulated.
  • Risks Of Binary Options
    • The risk in trading Binary Options is getting the market direction wrong more than 60% of the time, get that right, and you’re golden.
  • Tips For Option Trading
  • US Binary Trading
  • What Time Do Options Start Trading
    • Below there is a handy world clock widget that shows you the current GMT time, follow the link to see the market opening times that matches your timezone

World Clock

CherryTrade Binary Options Broker: No US Traders!

UPDATE: We can now confirm that as of September 13, 2015 CherryTrade no longer accepts American based binary options traders, other countries are still welcomed.

Full disclosure: We get paid a commission fee if you sign up using any of the links on this site.

CherryTrade Summary:

  • $200 Minimum Deposit
  • $25 Minimum Trade ($5 for 60 second trades)
  • $100 Minimum Withdrawal
  • Live Chat Support Available
  • Up to 81% Returns
  • $2,500 Maximum Per Trade
  • Withdrawals Processed Within 5 to 7 Business Days
  • Established in 2013
  • No Longer Accepts US Binary Options Traders!

CherryTrade.com is one of the most respected Binary Options brokers that accept US traders, even though they are still relatively new. What I particularly like about them is that they use real-time data streams from Thomson Reuters, so you know that their prices are accurate.

Below is a quick video introduction to CherryTrade.

I have an account with CherryTrade and I’ve been very happy with them, they have great support and their platform is superb. During this time of market instability, you probably cannot get much better than going with CherryTrade for your Binary Options trading.

CherryTrade also offers a mobile trading app for both Android and iOS phones, and once again their trading interface is very well done and easy to use.

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On the CherryTrade.com website you will be able to access their online trading platform, and just like their mobile trading app, their browser-based trading platform is very easy to use. If you have more than one open trade, the CherryTrade trading interface very cleverly shows you the current status of each trade, which is a nice touch. Their desktop browser-based interface is also second to none, and very intuitive.

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Their charting option gives you the choice of a line graph, or the more traditional candlestick interface, which is very handy when you are timing your entry into the market. You will also find it easy to set up your most frequently used assets, which makes it a breeze to trade quickly and efficiently. I can’t overstate how useful that is, especially in trading binary options, where your timing is very important and you do not want to waste time trying to find the asset you’re looking for in a long list. With CherryTrade, you can arrange your assets to show the markets you’re currently interested in, and then simply pick your desired expiration time and amount.

If you’re new to binary options trading, they have an interesting feature called “iFollow”, where you can effectively shadow the trades of other traders on the CherryTrade platform. You obviously need to pick who you are going to follow carefully, but it might be a good solution for some traders that are not quite ready to start trading on their own.

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Overall CherryTrade is an excellent choice for a Binary Options broker, unfortunately they no longer accept US traders.

If you are new to Binary Options trading, they also offer a set of video tutorials and a trading e-Book on their site that will help you to get started. The training that CherryTrade provides covers basic aspects of Binary Options trading, as well as more advanced topics and I encourage you to view them before you start trading to ensure that you are well informed.

In order to protect you and to comply with regulations, all brokers will ask you for a form of visual identification, such as a driver’s license, as well as the last 4 digits of your credit card and proof of residency. This is normal and you should expect to be asked for this type of documentation. However, it is important to note that they should allow you to blur or block out your driver’s license number and the first digits of your credit card.