As any financial trading, the main principle of binary options trading in Singapore is to predict the market’s movement and choosing the right trading asset.
If you are an experienced Singapore trader and familiar with financial markets, choosing a right asset to trade, won’t be a problem. You should choose an asset that you are sure to bring you profits. For beginner traders, I suggest to study the market before you start trading. Read financial news during a week and watch the most popular assets. Their movements and changes must be clear for you.
Before you start trading binary options, it is very important to understand the market. You must know what are the main reasons of its movements, what influences the certain assets, etc. Therefore, making a prediction based on your study may have the maximum accuracy and bring you good profits. Binary options trading success as well as any other financial trading, depends on the accuracy of your prediction and the market analysis.
Choose Your Expiry Time
Another important aspect of binary options trading in Singapore is the correct choice of expiry time. When trading with binary options you can choose the expiry time that matches your prediction: an hour, a day, week or a month.
Choosing a short expiry time, such as one hour or one day, a trader opens a short term trading position. Short term trading has a number of advantages and disadvantages. One of the main advantages of short term trading is that you are getting your profits very fast. But when choosing this type of trading, you must realize that although you have predicted the growth of the Binary Options asset for a long term, its price may go down during the next hour. As for me, short term trading is more risky but at the same time has a big advantage of getting your profits super fast.
The long term trading is simpler. When choosing the expiry date of your option for a week or a month, you are increasing your chances to make a correct prediction. But in case you are right in your prediction, you will get your profits only when the option is expired – in a week or a month.
Start Small And Grow Big
The last and the most important advice for a successful binary options trading in Singapore. Trade only with a small amount until you feel confident to trade binary options with high investment. After you get some experience and study the assets, you can gradually increase your investment to make more money.
Binary options trading becomes very popular in Singapore. More and more Singapore Forex traders are moving to binary options today.
What Are The Best Binary Options Brokers in Singapore?
The best binary options brokers for Singapore traders would be the brokers that accept traders from Singapore and allow Singapore payment methods.
Before choosing a binary options broker, make sure that this is an established company that is operating for about last 4 years. Below is the list of the oldest and the most popular binary options brokers in Singapore:
Anyoption is our #1 recommended binary option broker for Singapore traders.
Optionbit was found in 2009 and is one of the veterans of Binary Options trading brokers. The broker has great feedbacks and has a lot of users from Singapore. The Optionbit trading platform is user friendly and is very easy to use.
Optionbit is our #2 recommended binary option broker in Singapore.