Binary Options Gabon
Binary Options Trading Gabon
Technically advanced age in which we exist today and which only keeps getting more and sophisticated, has opened, in a way, the floodgates of various possibilities and opportunities until then unknown to our civilization.
More and more people are taking advantage of it and they are venturing into different business dealings which are entirely or almost entirely Internet-based.
Once such opportunity, available to global population since 2008, is called binary options trading.
The purpose of this article which will be lengthy but will also strive to be comprehensive and informative, is to give perspective Gabonese traders a realistic and extensive overview of binary options.
We shall explain how the story of binary options started, how binary options trading functions, which various trading tools and features as well as trading options are (more or less) available with most brokers. We shall also touch upon security issues, auto-trading, types of binary brokers traders can find on the market as well as some general, sound advice which can come in handy to new Gabonese traders.
How it All Started
It could be said that global trading market experienced a fundamental change in 2008, since that was the year that binary options trading became available globally.
Up until then, only those with reasonably high net worth or large, regulated traders could do binary options trading.
US Securities and Exchange Commission changed that state in 2008 when it made binary options trading legal and Chicago Board of Exchange enabled the entrance of binary options to major markets.
What is Binary Options Trading?
In a way, binary options trading takes trading back to its very beginning. An asset and the price, which can either go up or down. Though, there is more to binary trading than that, this is the foundation of binary options trading. Traders chose the asset, or to be more precise, the underlying asset and then, based on information at hand make a prediction of whether the price of the underlying asset in question shall rise or fall.
Yet, the story of why binary options trading swept the global market is due to several elements, not just one.
In the first place, it allows for much more flexibility since traders have numerous trading options, expiry times available, strategies which can be used and numerous underlying assets available for trading. An added bonus is the fact that interested Gabonese traders can do binary options trading from the comfort of their armchair of while having a lovely dinner in a restaurant. The explanation – it all happens on line and nowadays it is possible not just to do trading from computers but rather, traders can do so via their mobile phones or tablets.
Another factor which is contributing heavily to the appeal of binary options trading is the money factor. Before, one usually had to have a rather thick bank account to be able to do trading on the global market. Now, with the surge of binary options trading relatively small investment is enough for the traders to be admitted into the game.
With majority of brokers minimum deposit ranges between $100 up to $300 though it is possible to find binary options brokers with a minimum deposit which is considerably lower. Minimum investment is also different with different binary brokers, but a minimum investment of just $1 is a frequent occurrence. Also, with binary options trading each trader knows beforehand what he/she stands to win or lose should the trade be successful or not.
The last factor which contributes considerably to overall appeal of binary options trading concerns the issue of time.
Or, to put it bluntly – the issue of the time saved. Information need is available at any given time.
Going online and looking for data on binary options will yield incredible of information which can be somewhat overwhelming but can be, with a bit of practice, navigated in order to obtain fact needed.
If we care to think back to the way trading was done in the past then several things immediately come to mind: expensive and lengthy education, hefty bank account and, to an extent, various connections too.
Suddenly, binary options trading found a way to sidestep all that. Because going to business schools and universities is not necessary to become a successful binary options trader. Nor do interested Gabonese traders have to have a small fortune on their bank account in order to start trading binary options.
Everything one needs to know about binary options is available online. So, yes, taking some time to comb through the amount of info available is a must, but it is nowhere near the amount of money and time that traditional way of trading invariably demanded.
Put all that together and the reason why global population finds binary options trading an interesting way of supplementing their budget much more logical and understandable.
Which Trading Options Are Available to Gabonese Traders?
As already mentioned, trading options with binary trading are rather wide which enables various traders to find what works for them.
The options which we shall list and briefly explain below cannot all be found with one broker but rather represent the most commonly found options in binary trading.
Key thing is to take some time and explore which offers are available, what each option offers to the trader and the way each option functions.
Some of the most usual options include: Pair Options, High/Low, Range Options, One Touch, No Touch, 60 Seconds, Long Term, Boundary Options and Ladder Options.
When binary options first became available only several options were available to traders and among those High/Low option was the most popular one since it was and still is the simplest one of all. The principle of binary options trading is basically contained within this option. Traders pick the underlying asset, invest the funds on the price either going up or down, set the expiry time and wait to see if their prediction was successful or not.
While this is the basic principle behind all binary options trading options what each option offers are the subtle differences.
For example, 60 Seconds options is one that allows traders to do the trading in an extremely short period of time (60 seconds) which can be a great option for those traders which do not want to spend a lot of time waiting for the result. Instead the trade is swift, and the trader can also do a lot of fast trades like this.
Pairs Option, on the other hand, is based on the trader making an educated guess which of the two underlying assets chosen with outperform the other within the expiry time set.
Then, the Gabonese traders can also choose to try out Ladder Options, relatively new addition to binary trading. With this option there are three different prices and three different expiry times. In most cases, brokers allow that traders be the ones to choose both the prices they believe the asset will strike as well as the expiry times.
If the asset goes through the prices set (like climbing the ladder) within the expiry times, then the trader receives a certain percentage.
There are also Boundary Options with which the traders will profit if the set market prices (each market price is set on opposite sides of the current market value) are triggered in the expiry time set.
Long option, unlike the 60 seconds options, focuses on the binary options trading over a longer period. Some traders prefer this because it is somewhat less risky and it is easier to make a guess about the movement of the underlying asset price.
On the other hand, some brokers, such as StockPair have come up with new trading options such as KIKO options which are focused on the asset touching the lower or higher price first no matter the time frame.
Whatever the Gabonese traders decide to try out, learning information about the trading options made available by the broker of their choosing is the first step to be taken.
Not all options will appeal to all traders and, consequently, not all options will be used in equal measure. Obtaining all the information and carefully considering each option can play a deciding role in whether the trading will be profitable or not.
Which Expiry Times Are Available to Gabonese Traders?
Just as traders are faced with a healthy selection of trading options they also have a lengthy list of expiry times to go along. Again, not every binary broker will perhaps have all the expiry times we shall list in this article, but this list is what traders can expect.
There are three general sections within expiry times are sorted: short, medium and long, and each has some specific expiry times set.
Expiry times Gabonese traders can expect to find within the short section usually range from 30 min, 15 min, 5 min, 2 min, 60 sec, 30 sec and 15 sec.
In medium section traders can usually find End of the Day, 24 hours, 10 hours and 1 hour while the long expiry time generally includes options such as End of the Year, 150 Days, 30 days, End of the Month and End of the Week.
Naturally, traders can expect some variations from one broker to the next but in a nutshell, this is what they can expect to find when it comes to expiry times in binary options trading.
Assets Available to Gabonese Traders
If Gabonese traders do just a brief browsing session around the broker platform they will see that brokers, as a rule, offer plenty of underlying assets within the four basic categories of assets they offer.
Those four categories are as follows: stocks, indices, commodities and currencies. Gabonese traders are encouraged to thoroughly check the Asset Index which brokers have on their trading platforms since that is the place where they can find the list of all underlying asset and well as trading hours. Take a bit of time to learn about each of the asset categories and learn more about the nature of each asset.
Commodities have been the cornerstone of trading for thousands of years and they are still present on the market today.
One click on the asset index and traders will find commodities such as gold, silver, oil, coffee, corn and sugar listed.
Since those are very much dependent on the political and demographical situation or weather conditions.
Keeping an eye for those sort of info could help traders looking to trade binary options via commodities a fairly good idea about the direction of prices.
Large number of professional traders trade stocks because of the high winning rate trading stocks can generate.
However, trading stock also demands a certain amount of knowledge too so those with more experience tend to do it more often.
Those Gabonese traders who are interested in trading stock should also consult the asset index available on broker platforms and follow the news of what is happening with stocks they are interested in.
Globally well-known stocks include Coca Cola, Microsoft, Toyota, Google, Apple and Audi and there is plenty of information available on line concerning these stocks.
Trading currency pairs has been a favourite with traders since binary options became readily available on the market.
Which brings us back to the very beginning of this article – simplicity.
Trading currency pairs is simple and most new traders feel this is the best initiation into the binary options trading.
Again, interested Gabonese traders should first consult the asset index to see which currency pairs are available though mostly, people opt form strong pairs such as GBP/USD or EUR/GBP.
In most cases not prone to sudden ups or downs when it comes to prices, trading indices can be a bit more difficult to grasp.
This is due to the small changes in the prices which makes it much more difficult to predict.
Dow Jones, FTSE 100 and Nasdaq are among those Gabonese traders can find as tradable underlying assets with most traders.
Which Strategies to Use in Binary Options Trading?
Apart from various trading options and times, interested Gabonese traders can also opt to use some trading strategies to improve their opportunities for gaining profit.
We shall mention some of the strategies traders like to use in trading binary options.
Following the trend line is the basis of the trend strategy and it can be used and useful by both new and experienced traders. By careful observation of the trend line, traders can gain the better understanding of what is happening with the prices on the market. And, based on that, traders can decide whether they want to use the Call or the Put option. An upward trend means that a CALL option should be placed, and in the case of a downward trend PUT option is the one to use. The case of the “flat trend line” is also possible when there is no great movement, then Gabonese traders can utilize the NO TOUCH option.
For those assets which do have a tendency to suddenly change the price direction, reversal strategy can be used. The strategy is more advanced and the basic notion of this strategy is that the asset, which is moving in one direction, won’t stay at the peak for long but will rather return somewhere close to its original position or directly to where it was. A trader will place either CALL or PUT trading option, depending on the direction of the price.
Using technical and fundamental analysis is necessary to recognize when the asset has peaked and then will return to a more stable value.
Another frequently used strategy in binary options trading, Pinocchio strategy uses the Pinocchio bar (a candle bar with a very long wick and a short body).
The basis of this strategy is that as the wick gets longer traders are being lied to.
Translation: the price of the asset is going in the direction of a wick but, in reality, the chances that the price will head in the opposite direction soon is very much a possibility.
Therefore, traders place a PUT option when the wick is up and a CALL option when the wick is down.
Types of Trading Accounts Available to Gabonese Traders
Most binary options brokers offer a nice selection of trading accounts to their registered traders. Those Gabonese who are interested in binary options trading have to research various brokers before they can make a decision about this since various traders offer various trading account and there isn’t a consensus on this.
Various trading accounts are mostly determined by the minimum deposit. The higher the deposit the more traders get within the account.
Inspecting the account types a broker of their interest is offering is a first step, as there are usually plenty of info already listed with each account. But, should traders have more questions, it is a wise to contact customer support and ask for more details before making a final decision.
Depending on the broker, there can be from 3 to even 7 different trading accounts to choose from.
Trading Tools in Binary Options
Considering that binary options trading happens online, coming up with useful tools and features which can aid during the binary options trading process hardly is a logical progression.
We shall discuss two of those in this article.
Mobile Trading App
Human dependency on mobiles is a fact – we can hardly make a move without holding the device in our hands. The fact that binary options brokers decided to use mobile devices in the trading process in order to make it even quicker and more user-friendly.
While not every binary options broker offers the mobile trading app, most of them do and it is something which can make trading a much more pleasurable experience.
For one, it saves time since traders can execute binary options trading despite of their current location. In doing so they also place themselves in the position where they can, if they want, take every trading opportunity that presents itself.
Those brokers who do offer mobile trading apps commonly do so for bot iOS and Android devices and those can be (usually) downloaded for free from App Store and Google Play.
In a sense, demo account is stuck in between being a trading tool and a trading feature. It can be a great help to those Gabonese traders which are only starting to trade binary options since it provides traders a safe zone.
With virtual funds on the demo account, traders can test the waters and get feeling of what is it like to trade binary options but, at the same time, they do not have to agonize over losing their money. So, demo account can be seen as a rehearsal before they set out to do the real trading with real funds.
But, demo account is not just convenient for novice Gabonese traders, it can be used by more experienced traders as well. They can perhaps try out some new trading options or trading strategies which they have not used thus far.
Those traders who find the demo account of interest, have to first make sure that the broker they wish to use in the trading process offers this or not. Not all brokers offer the demo account to their registered traders.
However, those brokers who do not offer demo account to their traders have various educational materials available.
As the name aptly explains, educational materials brokers have on their platforms have a specific purpose and that is to educate the traders, new ones and experienced, about binary options in general but also about the more specific aspects of binary options trading.
Some educational materials are available even to potential traders while those which are more advanced and complex are there to be used to registered traders which hold a certain account type with the broker.
What Gabonese interested in binary options trading can find if they look into educational materials is a collection which encompasses e-books, presentations, tutorials and, quite often, a demo tour as well.
At any case, using educational materials can be of great help and we encourage interested Gabonese traders to look through them and use them as much as possible.
Just about every binary options broker present on the market offers bonus or bonuses.
Perspective traders should obtain more details and info before they decide to accept the bonus since those come under very specific rules and terms. If the trader does not fulfill those terms the bonus cannot be withdrawn.
As was the case with various types of trading accounts, every broker has different bonus(es) to offer to their registered traders but there is also a section which will give detailed explanation about the rules and conditions pertaining to the bonuses.
This information can be either found within the terms & condition segment or, as is the case with Banc de Binary, there is an entire, separate section which explains how bonuses function and under which conditions it is possible to withdraw the bonus.
Payment Procedures and Options Available to Gabonese Traders
Binary options brokers give their registered traders various trading options. Again, these can and do vary depending on the broker in question but bank wire transfer, credit/debit cards such as Visa, Maestro, and MasterCard can be found with majority of brokers.
E-wallets such as Skrill, CashU, Neteller and PayPal are also popular choices for financial transactions.
Visa and MasterCard are available payment methods in Gabon. PayPal can be used by the Gabonese traders to make the payments but not to receive them while the most popular e-wallet used in Gabon is e-Doley. Gabonese traders can always contact the broker customer support and ask whether it would be possible to use some other payment methods for deposits and withdrawals.
When it comes to making withdrawals, this is a process and traders have to know what that process entails.
Brokers have put in place the so called KYC procedure (Know Your Customer) which means that traders have to submit certain documentation (copies) to the broker before the withdrawal procedure can take place. The documents necessary usually include the copy of the credit card used to make the deposit, copy of the photo ID and a proof of traders’ address (utility bill or something to that end).
This procedure was put in place by the brokers to prevent the possibility of money laundering, identity theft and financial fraud.
Only after these documents have been submitted to the broker can the withdrawal process really start. Traders firs have to send a filled out withdrawal form (available on the broker platform either as a simple form of as a pdf document). It does take some time (from a few hours to 3 days) to process the withdrawal and then from 3-7 business days for traders to receive the funds. The tame stated here can vary from broker to broker but this is, in the general sense, what traders can expect.
Majority of brokers have both the deposit and withdrawal process explained on their platforms so interested Gabonese traders can look either under FAQ section or in banking and payment section to get specific details pertain to a broker of their interest.
Using Auto-trading in Binary Options
Lately, more and more traders reach for auto-trading option when it comes to binary options trading.
Reason for this is easy enough to understand – auto-trading is simple and traders’ input in the trade itself is minimal.
In the case of auto-trading or binary options robots, trading signals are used in order to make the prediction about the movement of the price.
Trading algorithms are used in order to get trading signals which lends the whole process a more objective perspective.
This manner of trading might be helpful for those Gabonese traders which are only starting out in binary options trading as it allows them to observe the trade (automatically made by the robot) and both gather experience and learn about the market.
Some binary options robots and signals are free to be used by traders while others aren’t. Gabonese traders interested in binary options trading should first research and find as much as possible about binary options robots offered before they settle for the particular one.
Using reliable auto-trading like Binary Option Robot can be a great way to both start binary options trading but to also use auto-trading which is not a scam.
Types of Binary Options Brokers
Binary options brokers can also be divided into several specific groups.
Most notably those who are regulated and those who are not; those who accept US traders and those who do not and which kind of trading software they use on their trading platform.
Due to specific regulations concerning binary options in USA, not all brokers accept US traders which basically limits the possibilities for those traders who hail from America.
Binary options brokers also differ when it comes to trading software used on their platforms. A name which is most known in the binary trading is SpotOption. This software is used by a large number of brands (more than 250) and is utilized by one of the leading names ion the binary options industry, Banc de Binary.
24option, another big name in the business uses TechFinancials. Other trading software used by brokers, but to a lesser degree, includes Panda TS, TraderSoft, TradeSmarter, Tradologic etc.
On the other hand, binary options trades also might find the information that some brokers use proprietary platforms. That means they have their own trading software which is specifically designed to fit with the requirements that broker has. Popular brokers like StockPair and IQ Options decided to have proprietary platforms rather than any of the software options available on the market.
Lastly, binary options brokers are also sorted depending on the fact if they are regulated or not. There are several important regulatory authorities which are important when it comes to binary options brokers and those include CySEC in Cyprus, FSB in South Africa and FMA in New Zealand.
Trading binary options with regulated brokers is always advisable since this is simply a safer route to take since there are some brokers which are a scam.
However, to eliminate brokers just because they are not regulated is not a way to go either.
Doing research, reading broker reviews and articles such as this one can do a great deal to help interested Gabonese traders and set them on the right path.
Gabon Local Legislature
Since a consensus on how binary options are classified does not exist, different countries have different ways of categorizing it.
Binary options trading is legal in Africa but a good way to start trading binary options is to opt for a registered broker, since those, as we have previously mentioned, follow and respect the rules of the regulatory authority.
Since we are not a legislative body, Gabonese traders can also inquire about legal status of binary options trading with the competent legal body in Gabon to get more detailed information about the status of binary options trading.
Tax Laws Gabon
Tax systems are notoriously difficult to understand and navigate, especially when one bears in mind that every country has its own tax laws. Add to this the fact mentioned in the previous section – different countries put binary options in different categories, then another twist is added.
The most prudent thing to do, considering how we are neither experts on tax nor are we a proper tax authority, is for the Gabonese traders to seek answers from a professional on tax law in Gabon.
Security and Risk Warning
The matter of security should be and is something reliable brokers take very seriously. Trading binary options involves financial transactions as well as the exchange of private data so in order to ensure security of those info brokers have to take steps to make sure security is top-notch.
This, of course, does not mean that the broker is just using an innovative, state-of-the-art trading software but rather security technology too. In most cases, brokers use SSL security or Secure Sockets Layer which uses encryption in order to provide safety of data being exchanged. Brokers have information and explanation about which security they use on their platform.
Usually under section banking & security, where all the details about security are listed.
However, traders themselves can also look out for a small green bar or small green padlock which can be seen in the URL since that will tell them immediately that the broker is using security.
Another thing we must touch upon is the risk involved when it comes to binary options trading.
To claim that this is a risk-free venture would be utter fabrication. Any business venture carries with certain amount of risk involved where clients stand to both loose and gain funds.
What is a basic requirement every reliable, trustworthy broker has to do is to make sure traders, be they registered traders or potential ones, understand the risk which is involved in binary options trading.
Plenty of brokers will put a risk warning on their homepage, at the very bottom or they will have a section dedicated to it where they will explain the risk involved.
The bottom line is, both the broker and the trader are responsible. Broker has to make sure the information about the risk involved is available to the trader. The trader has to be aware of the risk and judge which sum of money they can afford to trade with and behave accordingly.
Useful Tips for Gabonese Binary Options Traders
To round up this article, we shall give Gabonese traders some handy advice which they can use in binary options trading.
It all really starts will gathering as much information as possible which will take a bit of time but it also be time well spent.
Browse broker review sites and read about reputable brokers which are safe to trade with.
Make sure to always read broker terms & conditions as well as FAQ since Gabonese traders can find useful and basic information there – brokers who do not have that are more likely tan not scam so traders should stay away from them.
Look around broker trading platforms and get familiar with all they have to offer – from an asset index, expiry times to trading options.
Make sure to test the customer support to since that is of great importance to traders. Customer support will be the first step when a trader has a problem or wants to find out an answer to a certain problem. When traders deal with a high-quality customer support then the whole experience does tend to be much more pleasant. Also, be free and ask questions because a reliable broker will not hesitate to supply traders with information.
Gabonese traders who are familiar with demo account should also ask more information about that aspect and, in fact, make sure that the broker has that in its offer since that is not always the case. Traders should also check whether or not a broker offers a mobile app since that can be a very useful trading tool which allows for much more freedom.
Gabonese traders should also inspect the selection of trading accounts the broker they are interested in has to offer and what is included within each account. The same approach should be adopted when it comes to making sure traders know which payment methods are available.
Lastly, address the issue of security and trading software used on the broker platform. Security is of huge importance (read our paragraph on this) so traders need to make sure broker is make sure all data is adequately protected.
In the end, Gabonese traders should also read the risk warning and be aware of the risk involved in binary options trading.
Trading binary options can be a very good way to profit but Gabonese traders have to do a bit of the homework first, know all information beforehand and then set forth.