Best binary options software
Binary options trading is very popular in the modern world.Technical accessibility, a simple trading algorithm and the possibility for high profits in a very short time frame make binary options one of the most commonly traded financial instruments.
As binary options are a completely digital product, one of the main tasks for a trader is to find a good online platform to trade binary options. What does 'a good online binary options trading platform' mean? First and foremost, it is binary options software that works. That is, you do not just get to open or close trades and view information. The platform must also provide you with certain analysis and trading tools, which will help you in your work and make trading binary options as comfortable as possible.
Below we will be looking at what features you should be looking for when choosing a trading platform.Our short review is devoted to the best binary options software that works in Malaysia.
Binary options can be called by many different names. In the forex market they are called digital options. In the US stock market they are called fixed-income options or all-or-nothing options. They are called binary options because they give you only two options: either you get something (for example $100) or nothing. It is this ambiguity that is characterised by the name "binary", i.e. consisting of two elements.
Formally, the transaction consists in payment to the seller of a certain value of the option, with a pre-agreed right for the buyer to receive, and an obligation for the seller to pay in the future, a fixed amount when conditions also pre-agreed upon entering into the transaction occur - for example, an increase/decrease in the price of the option object. Otherwise, the option buyer loses all the money invested.
Trading binary options and other financial instruments have many similarities, for example:
- the same price movement in the market;
- fundamental and technical analysis is still used;
- it is important to determine your risk appetite and be able to manage your capital;
- certain trading strategies can and should be applied.
But nevertheless there are some differences, which are inherent to binary options trading:
- There are no buy or sell bets (Buy/Sell options). There are Call or Put bets - this is buying options with bets on a predicted rise or fall in value;
- A trade does not close manually or using a stop order (stop loss or take profit) when the price reaches a certain limit. In binary options trading, there is an explicit expiration time after which the trade is closed at either a profit or a loss;
- Take Profit and Stop Loss orders do not apply.
To put it simply, a trader can trade binary options in the following way: a trader selects one of the offered assets, the price of which can rise or fall. Then he considers the indicators, analyzes the trading signals based on the indicators about the forecast of the asset's price change. He or she makes a bet. In case of occurrence of the chosen event (for example, rise in price) he receives the stipulated premium, in case of wrong choice he loses the invested money.
As a rule, the following assets can be used for trading binary options:
- stock indices;
- commodity futures.
When trading binary options, you can expect to earn an average of 80%. But if the prediction is made incorrectly, you will lose 100% of the invested amount.
Binary options trading platform
An online investment platform is software designed to give the potential investor access to all transactions in the investment market. This software is usually referred to as a platform because this software is available on every possible gadget - there is a web version as well as mobile apps and an e-tablet app and the like. Quality platforms are supported by different operating systems, working equally well on Android and iOS.
Important: When downloading applications for trading, use only official websites and sources, as downloading applications from third-party sources may pose a certain risk: many websites distribute free "pirated versions" of popular applications and games in the form of APK files, which are infected with malicious features, such as sending premium SMS, data theft, device encryption, spying, etc.
By signing up for an online investment platform, you will actually have access to stock market data anytime and anywhere, 24/7.
In order to forecast the market situation as accurately as possible, traders resort to fundamental and technical analysis. Accordingly, an important consideration when choosing a trading platform for binary options trading is the availability of analysis tools, such as news feeds, economic calendar and technical analysis indicators. Most platforms also allow you to choose different timeframes for analysis, which is very convenient.
The trading platform is a vital element in trading binary options, as it is through this program that all the trades will be made. Choosing a platform for regular trading is not an easy task, as there is a great variety of software, and the differences between them are practically invisible without careful testing and trial runs.
To choose the best software for trading binary options, look for the following features:
- Security of client funds;
- Quick and easy registration;
- Availability of a mobile version of the platform;
- Free demo account for testing;
- Low minimum deposit and convenient funding options;
- Available ways to withdraw funds;
- High return on investment (profitability);
- User-friendly interface of the program;
- Tools for analysis;
- Availability of tools for trading;
- No hidden fees;
- Fast execution of trades;
- Available support in different languages.
Let's take a closer look at why these points matter.
Easy application installation and registration. Security
The developers of high-quality and reliable trading platforms have made sure that the novice trader does not lose the desire to trade at the initial stage. Therefore, as a rule, registration is as simple as possible and takes a few minutes. You can start by installing the application on your gadget, using the link from the broker's official website or downloading the application from the official playmarket installed on your mobile phone or laptop.
This is a standard registration procedure for most trading platforms.
The main difference between the quality of the software for trading binary options is its availability on all operating systems, the ease of downloading the application and the simplicity of registration.
Advanced broker companies also offer you a mobile version of the platform, in the form of an application. The mobile platform exactly replicates the full, desktop version of the platform, providing full access to all your transactions. Pay attention to the functionality of the mobile app and the availability of the same features as the full version, as well as the speed of data synchronisation across devices. A quality app synchronises automatically and instantly.
A demo account is a sign of a good trading platform. A demo account is an exact replica of a real account, but it is intended solely for training operations, so the money used in a demo account is fictitious. When you log in to the platform for the first time, the system will prompt you to activate your demo account - make sure you take advantage of this unique opportunity. When you activate a demo account you will be able to make transactions that are absolutely identical to a real account - with real quotes, using all the necessary tools for analysis, using leverage, etc. Practice opening and closing trades, and try using various indicators. According to the results of your trades, you will be able to draw your own conclusions. Whether your strategy is working or not, whether you have correctly predicted the price movement or whether you have made a mistake. Try, trade, analyse, draw conclusions, learn - demo account allows you to test the system without the risk of losing real money.
Depending on the platform, the required amount of fictitious money may vary, but as a rule, it is sufficient to study.
Moreover, good trading platforms allow you to replenish this amount if needed.
When choosing a trading platform for binary options trading, give preference to platforms that offer a free demo account with a sufficient amount of test funds that can be replenished as required.
Settlement operations on the platform
Pay attention to the methods of depositing and withdrawing money from the platform. Reliable brokerage companies usually always cooperate with reputable payment systems, so you will have several options for funding your account. To make a deposit to a live account, click on the "deposit" option and browse through the list of available deposit options, which the system will display to you. As a rule, it's almost always a bank payment card top-up - one of the most popular options for funding your account. But you can also use online electronic payment systems. Choose the method that suits you best. Check the deposit and withdrawal limits set on the trading platform.
Generally, withdrawals can be made using the same methods that you used to fund your account.
When choosing a trading platform, always check the deposit and withdrawal options available, the minimum deposit and minimum withdrawal limits and the broker fees.
Comprehensible interface. Functionality
Modern platforms are designed to make your experience as comfortable as possible. Rather high competition in the Malaysian brokerage market forces brokerage companies to develop and implement all new technologies in order to win trader's commitment. Therefore, you have the opportunity to choose the platform that you are comfortable using. Pay attention to the interface of the trading software. Quality platforms are characterised by user-friendly menus, clear and high-quality graphics and are intuitive to use from the first visit to your account.
Pay attention to the available functions of the platform. You will need tools for analysis and for trading.
If we're talking about analysis, it all depends on which kind of analysis you apply. In long-term binary options trading (one month and longer) the fundamental analysis is used, which is based on real market movements. The economic calendar and the news feed are helpful. These functions are now available directly on the trading platforms, which is very convenient and helps you find the information you are looking for quickly. Also, for each asset, you will see an "information" section, where you can see the price statistics for a certain period of time, the current price, and so on.
In medium-term (one week to one month) and short-term (up to one week) trading, the methods of technical analysis are used more often. For this purpose PlatoFrame provides indicators. Technical analysis indicators or computer indicators are tools which make certain calculations according to preset formulas on the basis of price chart data, and then automatically display the result. Most indicators look like graphical drawings (lines, bar charts, etc.) which are put on a chart automatically.
High-quality and reliable trading platforms provide access to a large number of different indicators, which, moreover, you can use both individually and in any combination.
The multiplier feature will help you activate your leverage in a simple and easy way. Please note, however, that using the multiplier will not only increase your investment amount, but also the potential loss should the trade fail. We do not recommend using leverage without sufficient trading experience.
Choosing your trading software, check the availability and quality of the analysis and trading tools mentioned above. Choose a platform that is informative and functional.
Other benefits of the best binary options trading software
In addition to all of the above, the best trading platform is characterised by a good selection of assets to trade, flexible settings with the ability to customise the software to your liking and depending on your trading methods. Technical support should be available on the online platform - ideally it should be available 24/7. Pay attention to whether there is an option to choose the language of communication in the tech support chat.
Recent innovations have also made algorithmic trading possible. An algorithm is a set of clear instructions that are created to perform specific tasks. In financial markets, users' algorithms are executed by computers. Data about prices, volumes, execution times of future trades are used to create rule sets. Robots used for algorithmic trading in the stock market are special computer programs. Their development begins with a clear plan of all the tasks they will perform, starting with the main one - strategy. This type of trading requires good trading experience as well as at least a basic knowledge of programming, which is why it is not often used by average traders. The process of learning algorithmic trading is, of course, better to begin with the basics of stock trading and technical analysis, and only then proceed to this, so far, relatively new method of trading.
We hope that our review will guide you in choosing the best software for binary options trading in Malaysia. In order to test your chosen platform, simply open a free demo account and check out the software for all the features and tools we have described.