If you have heard or even used the Binomo or Olymp-Trade application then I'm sure you are quite familiar with the term of trading binary option. Simply, binary options trading is a form of online trading instrument where traders predict or guess the price of an asset that will rise or fall over a certain period of time. assets could be cryptocurrencies, stock, and commodities.
The way to do this type of trading is easy, you only need to make deposit minimum amount $ 10 (each platform has a different minimum deposit rate, but on average is $ 10) after that you only need to choose a variety of transaction duration, starting from a few seconds, minutes, hours, or days. after that the platform offers two options ,higher or lower than the entry price. and you have to choose one of them, based on the time you have previously chosen, for example, within one minute you will predict the asset price will increase compared to the entry price. and if your guess is correct, you will get a profit (each platform has various returns but on average 60-90% of the initial capital). but if your guess is wrong, your money is gone...
My country banned the "trading binary options" instrument
Several months ago the Indonesian government issued a policy to ban all applications or sites related to binary options trading, one of the strong reasons why this was done because the Indonesian government considers that this kind of trading is a type of gambling and not a commonly known type of trading which requires a variety of analysis both technical analysis and fundamental analysis..
one of the binary options trading applications that is quite well known among the Indonesian people is Binomo..
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in their ads, this application always says that you will make $ 1000 a day by just staying at home, so no wonder this application is fast enough to get enthusiasts in Indonesia, and even though this application has been blocked in Indonesia, I still find some information that there are still members who access this application by using vpn..
well that's all of binary options trading .., what do you think about this type of trading? Do you agree that this instrument is more about gambling than investing? please comment bellow ....
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