Trading Binary Options is not a new phenomenon. Everyone associated with the world of finance and trading knows that a Binary Options trade ends in either ‘asset’ or ‘nothing’. Trading the underlying assets or commodities is considerably less risky than trading Forex/CFDs and cryptocurrencies although the Binary Options trading market is highly volatile. Nowadays, with such a massive advancement of technology, trading Binary Options is not limited to desktops or laptops. It takes some time to fire up the desktop and access the trading platform. The traders may lose some profitable opportunities within this short timeframe. 60 seconds Binary Options trading is quite popular. So, the trader using a desktop may lose the opportunity to do the 60 seconds trades. In this article, we will describe how binary options mobile trading platforms work.
Now, everyone has become accustomed to handheld devices like smartphones and tablets. Many people trade Binary Options as an extra income. It is easier for them to trade through mobile friendly platforms as they can then trade the underlying assets while travelling to and from their workplace as well as during leisure hours. Due to a rapid increase of purchasing of smartphones, many websites especially retail sites, gaming sites and brokers started developing apps for the consumers to purchase products, play games or conduct trades through a user-friendly mobile platform. Most of the top Binary Options brokers like Ayrex nowadays offer their clients apps that allow hassle free trades.
Desktop based Binary Options Platforms
The traders do not need to download the Binary Options trading platform on their desktop or phones or tablets. They can directly access the platform through the Binary Options brokerage website. The primary advantage is that the web-based platforms can also be used to trade Binary Options via the smartphones and tablets. But, the drawback is that most of these platforms are not as compatible with the handheld devices as they promise to be. This is mainly because they contain a number of distractions like the navigational menu usually located in the web browser.
Mobile Binary Options Platforms
The mobile application or app based Binary Options trading platform have to be downloaded by the interested traders on their smartphones or tablets. They are more flexible than the web based trading platforms and contain more features. Many experienced traders claim that they had a better Binary Options trading experience with the mobile trading platforms.
The process for trading with the mobile trading app
Downloading the App
It is easy to download the broker apps or mobile trading platform apps. The Android users can download the app from Google Play while the iPhone users can download it from Apple’s App Store. Windows also supports most of these trading apps. Once the execution of the app is completed, the traders can start trading Binary Options through the mobile trading platform.
The broker plays a pivotal role in Binary Options trading. So, the trader must first search an authentic regulated broker. The registration process is usually simple. The wannabe trader must provide personal details like name, email address and they have to select the account type. After the details have been provided, the trader has to deposit a minimal amount (varies from broker to broker) to open the account. The best thing is that there are many regulated Binary Options brokers who offer mobile trading platforms.
Features of Mobile Trading Platform like those of Ayrex
The traders have complete control over their trading account through the mobile trading platform.
Time of Trade
The traders can trade Binary Options throughout the day, except on weekends from any location. The only criterion is that they ought to have a high speed internet connection.
The renowned mobile trading platforms like MetaTrader4 or MT4 for trading Binary Options provide all order types and execution modes for the account holders.
The clients of a good Binary Options brokerage website can see the history of trades. It is important to go through historical data as it has often been observed that there have been repetitions of a market sentiment. Thus, the traders can analyse the past market situations to devise a stronger Binary Options trading strategy and successfully end the trades.
Charts are an essential part of trading Binary Options, cryptocurrencies and Forex/CFDs. Basically, there are three types of charts—bar chart, candlestick charts and line charts. They illustrate the open and close prices, the market sentiment and the direction the price follows. The traders can easily access the 5 minute, 15 minutes, 1 hour charts on the mobile trading platform to trade the underlying assets or commodities.
The traders need to do fundamental analysis along with reading the charts to trade Binary Options. The traders will receive all the financial news that can affect the Binary Options market directly on these platforms. They do not have to search the news feed manually to remain updated.
The Binary Options mobile trading platforms usually offer the traders to conduct 60 seconds, 15 minutes, hourly and weekly trades. The traders can set the expiry from 60 seconds to 1 hour or more.
Technical indicators like Moving Average, Lagging Indicators and Relative Strength Index are essential for trading. The mobile trading platform for trading Binary Options offers numerous trading indicators for the Binary Options trader to choose from.
Mobile trading platforms like MT4 offers more than 24 analytical objects at present. The Binary Options trader can also take the help of these analytical objects.
Chat and Email
With the Binary Options mobile trading platform the traders can have free chat and email services. This way they can easily contact the customer service section of the broker website in case of any issues.
A good mobile trading platform for Binary Options trading should have the above-listed features. Thus, it has now become easier to trade Binary Options with these user-friendly platforms.
Traders should keep in mind that choosing a broker is more complex than just analysing the platform, read a more detailed article on how to choose a broker.