Binary Options Morocco
In the world of 21st century information, any kind of information, is just a click or two away. A great advantage to be sure, but also a trap.
At any given moment the amount of information thrown at individuals is enough to induce a dizzy fit in the sternest of characters.
In order to avoid such unpleasant occurrences, we have decided to compile an in-depth guide which will aid Moroccan traders in their understanding of binary options trading.
In this article Moroccan traders will be able to obtain essential information about binary options in the general sense.
History of binary options, how to trade binary options as well different trading options, strategies, account types and useful trading tools and features. We shall also address relevant regulatory bodies, binary options auto-trading (Binary Options Robots) as well as certain legal facts relevant for Moroccan binary options trading market.
Brief History of Binary Options
Despite being in existence well before 2008, binary options made their official debut then since that was the year the US Securities and Exchange Commission gave its approval for exchange trading of binary options which made them available as a tradable investment instrument. Rapid growth in popularity of binary options trading has been unstoppable since then and the popularity continues to grow.
Once traders understand the whole process of binary options trading better, the reason behind binary trading becomes easier to understand.
The heady combination of simplicity, flexibility and affordability makes for a very attractive package and traders around the world have recognized it as a great way to increase their budget and improve their circumstances.
What is Binary Options Trading?
Just like the very name aptly points out, this is the sort of financial trading where a trader has only two options – up or down. Meaning, the price of the underlying asset can either rise or fall within the appointed time.
Traders haven’t got any ownership over trading assets such is the case with Forex trading, but rather they simply make an educated guess as concerning asset value in the time specified.
As previously stated, the widespread appeal of binary options trading rests in the fact that they are simple, with only two options available – Call (Up) or Put (down).
Another appealing feature of binary options is the fact that traders know straight away the profit they stand to make should their prediction be accurate. Certainly, the simplicity of the trading process would hardly cause such an uproar on the financial markets around the world.
The payout with binary options trading is quite high, with profit percentages ranking between 75-91% for majority of binary options brokers available on the financial market.
Naturally, there is more to it than just making predictions but this is the core principle of binary options trading. Because, for decades financial trading belonged in another realm; the one where ordinary people had no admittance. Binary options trading changed that. All of a sudden the need to have years and years of business education, serious amount of money on the bank account and most importantly – connections, became redundant.
Certainly, educating oneself about binary options trading, strategies and using numerous trading tools and features made available on trading platforms is something a clever trader will do since it raises the possibility of increasing the profit, but all that information is available outside of the expensive universities and business schools which are neither an options for a lot of people nor is it something the wish to do.
Assets Available for Trading in Binary Options
One look at any of the binary options broker platforms will swiftly present a clear picture of which assets are available.
Stocks, currencies, commodities and indices are main assets available with each broker offering different list of underlying assets binary options traders are able to trade with.
Another advantageous fact when it comes to binary options trading, is that traders are free to trade with assets (underlying assets) all around the world disregarding their location.
What traders have to keep in mind is the local time of the asset available which means that traders wanting to trade with say, Australian dollar must be aware that trading will be executed according to Australian Eastern Standard Time hence traders need to make sure they have accurate information about time.
Most professional traders prefer trading with stocks due to higher winning rate. As with all things, we strongly advise Moroccan traders to gather information, do some research on stocks available for trade before deciding which stocks they wish to trade with.
Apple, Google, Microsoft, Audi are all globally known stocks but in order to trade with stocks, any kind of stocks, Moroccan traders should get better acquainted with the company since that will not only help with the decision of which stocks to choose for trading but rather, the more information they hold, the greater the chance that the binary options trade will be profitable.
Currency pairs are, to date, the most popular type of asset trading within binary options. Majority of binary options traders favour trading with strong currency pairs such as: GBP/USD, EUR/GBP, USD/EUR etc. Traders can usually find a wide variety of these assets with high quality binary options brokers. What currency pairs trading entails is investing funds on the set currency pair while making an educated guess which currency within the pair will rise or fall. If traders are successful in their prediction they will reap the benefits.
Coffee, oil, sugar, gas, gold, silver, corn… these have been trading goods since the down of time and nothing much has changed today since commodities represent one of the easiest models of assets traded in binary options. As the most predictable assets due to their typical stability, there aren’t (usually) any great surprises with these assets since they grow or fall due to weather, political situation, demographics etc.
When it comes to indices what Moroccan traders have to keep in mind is the fact that value of these assets is not exposed to violent changes. On the other hand, because of that fact any small alternations in the price is harder to predict. The most popular indices (usually) available with well-know and reliable binary options brokers include: Dow Jones 30 Features, FTSE 100, Nasdaq, S&P 500…
Expiry Times Available
Wide selection of expiry times is what sets binary options trading apart from other forms of trading available on financial markets.
What Moroccan traders get when they decide to venture into binary options trading is a fairly long list of expiry times which can be rather daunting, especially at the very beginning.
In binary options trading standard expiry times range between: short, medium and long.
Typically, for short expiry time traders can choose between: 15sec, 30sec, 60sec, 2min, 5min, 15min and 30min.
When it comes to medium expiry times 1h, 10h, 24h+ and End of the Day are usual offers available to traders.
End of the Week, End of the Month, 30 Days, 150 Days and End of the Year are standard expiry times for long expiry times.
There are several key issues involved in making a successful trade with one being successfully predicting asset value movement within a designated time frame. However, the other is picking the right expiry time for assets traders wish to trade with and this is something inexperienced traders often disregard or are simply not aware of.
Mathematically speaking, it is more difficult to predict what will happen with the asset in the short expiry time. On the other hand, long expiry times usually generate higher profit (winning rate) since it becomes easier and more accurate to predict what will happen with the asset.
Potential Moroccan traders should always opt for a binary options broker which offers a wide selection of expiry times since that gives more flexibility and can allow more maneuvering.
Trading Options on Offer
Before going into binary options trading, it is necessary to get acquainted with trade options available.
Naturally, those do vary to a degree from one binary options broker to the next, but mostly brokers will offer standard trading options or the version of the ones listed below:
- One Touch,
- No Touch,
- Range Options,
- Boundary Options,
- Pair Options,
- 60 Seconds
Picking a trade option is just another important step in binary options trading and one that Moroccan traders ought not rush into. Take some time and explore the wealth of information available in order to select the trading option which will most suit the individual in question and their trading style.
For novice traders the simplest way to start with binary options trading is to have a go with High/Low option since that is the most basic form of trading.
The High/Low (or Call or Put) option includes one of only two available possibilities: either the price of the asset in question will fall or it will grow. The Call option is used by the traders when they are of mind that the value of the asset shall rise; the Put option is used when they believe the value shall fall.
One Touch trading option is used by traders who have gained some experience in binary trading since this option demands a very specific prediction. To put it more accurately, a trader has to pinpoint a specific value for the asset he/she wishes to trade.
Imagine that a trader wishes to use One Touch option with a currency pair GBP/EUR whose current value is 1.4500. The broker offers a Call option that the value of the asset will reach 1.4600 within the expiry time chosen. On the other hand, a Put option is also available for those traders who believe that the value for this specific pair shall fall to 1.3800. The profit is made is one of the options has reached the value specified and traders have chosen that specific option.
No Touch option is, in actuality rather similar to One Touch option with the difference being that the asset selected mustn’t reach a specific value within the allotted expiry period.
Range Option includes selecting a price range (as the name implies) within which the asset will trade until expiry time is reached. Should the price stay within the range selected, the trader has made a profit or, if the price moved away from the range specified the trade made wasn’t successful.
Boundary Option has two target prices with one being in the upper-side and one in the lower-side of the current market value. Triggering each market price will ensure a profit for the trader.
Simply put, options with binary trading all share the same basic principle – the price (value) of the asset selected will either go up or down.
Different options simply offer nuances in order to accommodate different trading styles of numerous traders across the globe. We suggest that Moroccan traders get themselves well-acquainted with trading options on offer in order to find the one that will suit their needs and trading style since that can truly make a huge difference in the level of satisfaction while trading and, naturally, influence the amount of profit made.
Binary Options Trading Strategies
By analogy, since there are various trading options and expiry times, there are also various trading strategies too.
While it is impossible and irresponsible to claim that there is a perfect, fool-proof strategy which will always end in making a profit.
Moroccan traders considering to do binary options trading ought to know that there are certain strategies that to, in fact, work rather well.
Here, we shall mention some strategies which are most popular and widely used by traders.
Focused on careful monitoring of the trend line for a specific asset, or, to put it more accurately, weather the trend line is falling or rising. By carefully observing the trend line it becomes easier to make predictions about a specific asset and make a decision on what to do.
This strategy deals with asset prices either falling down drastically or, to the contrary, drastically rising. E.g. if the price of a certain asset is expected to rise a prudent thing to do would be to opt for a CALL option and if it is expected to fall, select a PUT option.
A strategy predominately used by experienced binary options traders, reversal strategy demands that CALL and PUT options be placed simultaneously on the chosen individual underlying asset. This has proven to be a good strategy for those assets which are prone to fluctuating.
Usually, binary options brokers offer various account types which are designed to accommodate various trader tastes.
In most cases the amount of deposit made determines the type of account, but each account also offers different tools, features, educational materials, bonuses, trading signals, account manager etc.
Bearing in mind that binary options trading is an online based type of trading, it is hardly a surprise that changes happen constantly and that binary options brokers come up with new ways of making trading more efficient for their registered traders.
There are two trading tools which have been present for a while now and which can be a great aid to traders, and not only novice traders but those who are experienced as well.
Perhaps this is not, strictly speaking a trading tool but rather a feature, but it is certainly one that can be of great use. While not every binary options broker has a demo account on offer, plenty of them do. What traders get with a demo account is, in a way, a safe zone. Or to put it more accurately, a safe environment for trading.
Usually, demo accounts are a faithful copy of the real account and brokers (depending on the deposit made) equip the demo account with virtual funds traders can then use to try their hand at simulated trading.
This way traders do not only gain insight into the binary options trading but in using the demo account, they become more secure and obtain trading experience.
Naturally, the entire process of using the demo account is devoid of the risk of losing funds so traders can experiment and try out different trading options, expiry times and various assets.
On the other hand, when it comes to experience traders, using demo account lends the same safe trading environment but for a slightly different goal in mind. Majority of experienced traders use demo account to test various trading strategies which may improve their winning rate.
Mobile Trading App
The world of today is unforgiving when it comes to time wasted and opportunities missed so it makes perfect sense to prevent such a thing for happening in the first place. For that reason, it hardly comes as a surprise that binary options brokers should offer their registered traders an opportunity to use mobile trading app.
Large majority of brokers now offer this possibility on their trading platforms, in most cases for free. All traders need to do is download the mobile app and they are fit to start trading, basically, from any place in the world. A quick look around numerous binary options trading platforms will confirm that majority of brokers offer mobile trading apps for both Android and iOS devices. Some mobile apps are an identical replica of the standard trading platform for a particular broker while some have certain differences, however, the key point is that trading can be safely done on the go so traders safe time and avoid missing profitable trading opportunities.
Most brokers offer a selection of educational materials on their platforms in order to aid traders in navigating binary options trading. Those usually include video tutorials, e-books, economic calendars, presentations and lessons. Educational materials contain valuable information about chart signals, minimizing risk, market volatility and perhaps, most importantly, how to control emotions while trading.
Depending on the broker, and various account types they offer to registered traders, there are also advanced lessons available which can significantly improve monetary gain.
Large majority of binary options brokers offer various bonuses to their traders. What most traders fail to do is to get well-acquainted what accepting the bonus entails. There are well-defined and rather specific terms which must be respected and executed in order to claim a bonus. Depending on the broker chosen, traders must gather all the info beforehand.
Some brokers will have all details connected to bonuses explained in a separate section (like Banc de Binary) while other will have a paragraph in terms & conditions.
Regardless, traders have to understand the conditions well before excepting any bonuses. It is always possible to seek further expiation from the customer suppers if there are sections that traders find difficult to understand.
Payment Methods and Procedures Morocco
As a rule, binary options brokers offer a variety of different payment methods (for making deposits and withdrawals) which include debit/credit cards such as Visa, MasterCard and Maestro. In addition, bank wire is also a possibility and, more recently, E-Wallets such as PayPal, CashU or Skrill. Skrill and Xpress Money are most definitely payment methods available to Moroccan traders.
Payment methods are important when it comes to making deposits and requesting withdrawals.
In both cases, traders have to use caution and behave responsibly themselves. Look into the binary options broker thoroughly before deciding which one seems the best fit.
Additionally, in order to make withdrawals (sometimes even deposits) traders will be asked to submit certain personal documentation such as the proof or address and ID photo as well as details about debit/credit cards used since without those it will be impossible to claim your profit and make a withdrawal.
Moroccan traders who are considering binary options trading should also be aware that requesting a withdrawal is a procedure which, in most cases, means that traders will not have the funds appear on their accounts from one day to the next.
With most binary options brokers (this does vary from broker to broker) it takes anything from a few hours up to several days to first process the withdrawal request from the trader and then anything from 3-7 business days for funds to show in traders’ account.
Auto Trading Binary Options a.k.a Binary Options Robots
Depending on the traders’ personality, some people still find it rather difficult to decide and commence with trading. Hence, auto-trading has gained momentum in the last several years. Using auto trading robots can be a hugely useful to traders without trading experience.
Auto trading robots eliminate the human input and use only trading algorithms which make trades highly objective and logical.
Using robots is also a great way for inexperienced traders to gain experience, get familiar with binary trading and increase confidence.
Binary options robots use binary signals (info) from reputable signal providers and then use those signals when the opportune market moment appears in order to make profit for the trader.
Some binary options robots and binary signals are free of charge while other demand a certain amount of money to be paid. Regardless of what traders go for, what is necessary is to get informed and stay informed.
Moroccan traders who are interested in binary options robots should research best brokers and robots on offer and make an informed decision since there always exists a possibility that some robots could be a scam. Starting by using Binary Options Robot is a good way to venture into auto-trading. Reading detailed reviews is always a great way to begin since those offer a wealth of great info and help traders reach a decision which will be right for them.
Types of Binary Options Brokers
The first distinction, when it comes to types of binary options brokers, refers to those brokers which are regulated as opposed to those who are not.
As a general rule, traders are advised to look for regulated brokers since those respect rules, regulations and laws put forward by regulatory bodies which lends traders more security while binary trading.
Some of the well-known financial regulatory authorities include CySEC (Cyprus Securities and Exchange Commission), FSB – Financial Service Board in South Africa, FMA – Financial Market Authority in New Zealand.
However, hastily concluding that every broker who is not regulated is a scam would be wrong and uninformed. There are many unregulated brokers who are reliable and trustworthy and provide excellent service for their registered traders. Which is why it is truly essential for traders to learn as much as possible about binary options brokers prior to making any decisions.
Another distinction refers directly to the technical aspect of the trading platform.
To be more specific, brokers can be differentiated by the kind of software they use on their trading platform.
SpotOption is seen as a market leader when it comes to binary options trading platforms. Providing services to over 250 brands, SpotOption is the software used by one of the leading brokers such as Banc de Binary.
However, other software is also used on binary options trading platforms and used by reputable brokers.
TechFinancials is used by 24option and Tradorax; Tradologic software is also used as is TradeSmarter, Panda TS which is used by Porter Finance.
Other, less well-know, software includes HelloMarkets, Leverate, OSystems, BynaryStation, Lion Binary – Pro and TraderSoft. Some brokers, such as StockPair and and IQ Option use their own proprietary platforms which are unique and with proprietary platforms, brokers are utterly independent.
Lastly, brokers can be slanted into those which accept US traders and those who do not. The reason behind this is that USA has special regulation when it comes to binary options trading.
Bearing in mind we live in the world of rampant technology which can be used in both good but also not so good ways, the question of security is not one that should be cast aside lightly.
Keeping information provide by traders safe and secure is and should be a holy mission for each serious and trustworthy broker. The info exchanged between the traders and the trading platform is of extremely sensitive nature since it not only involves divulging info about credit card used to trade but rather private documents such as home address and photo ID. For that reason, we urge Moroccan traders to look into security details every reliable broker will have explained on their platform.
Information about security and what has been done to make sure all data is safe can be found (depending on the binary options broker) in sections such as FAQ, terms & conditions or banking and security.
Some of the most well-known and trusted software used on binary options trading platforms include TechFinancials, Panda TS, TraderSoft etc. (read more about this in section about Types of Binary Options Brokers) while the SSL encryption system is the most wide-spread when it comes to securing data transfer, credit card transactions and logins. It is quite easy for traders to confirm whether or not a binary options broker uses such security system by simply looking at the URL address.
When this system is installed the application protocol will have HTTPS mark as well as a green bar or a small green padlock.
However, we also urge traders to be responsible themselves. Do not be negligent about the security of your computer or phone which is used for trading and keep your passwords safe and secure so as to avoid any possibility of ill-use.
Trading binary options is legal in Morocco so potential traders have no legal boundaries should they want to venture into binary options trading.
However, opting to do so with regulated brokers is always a better choice despite the fact that there are many reputable brokers who are not regulated.
Starting the binary options trade with a regulated broker is a wiser approach since those brokers respect rules and regulations put forward by regulatory bodies such as CySEC, FSB, FMA etc. (look under Types of Binary Options Brokers) which means that traders are secure in their knowledge that these brokers have to answer to and acknowledge a higher authority.
There are plenty of excellent regulated binary options brokers such as 24option, Banc de Binary or IQ Option Moroccan traders can trade with. Once traders gain sufficient experience it will become much easier to perhaps opt for a broker which is nor regulated but is a reliable broker and a good choice for binary options trading.
Morocco Local Tax
Tax or better yet, paying taxes, is not a particularly enduring subject for discussion.
And as it often is, the question of tax is also a slightly confusing one. The equation of tax + binary options often ends up far more complicated and with a lot more of x, w, z unknown factors then one would expect.
First reason is that every country has a specific tax policy and different categories in their tax policies. Add to this the fact that not all countries see binary option trading the same way and the confusion simply becomes a huge, tangled mess.
The fact is – people should pay tax on profits made.
Our suggestion is that Moroccan traders in binary options seek professional help in this area in order to avoid any unpleasant situations.
This is probably the best way to approach the tax question since most binary options brokers do not operate in the traders’ county of origin which means that aside from the local tax laws the taxation of binary options could also include specific international tax regulations.
The confusion is made that much more confusing by the fact that often tax authorities fall behind in both enforcing tax law as well as understanding trading binary option in association with a specific tax code for a certain country.
Traders should also be mindful that binary options trading happens online, which means that all income withdrawals happen in another country so it would be prudent to determine if/in what way does that fact influence local tax laws.
Getting informed and staying informed is the best course of action.
Best Approach for Beginner Moroccan Traders
Far less complex than Forex trading, binary options present an ideal opportunity for traders without any prior trading experience.
However, considering the huge amount of information available online, we do urge Moroccan traders to use caution when venturing into the world of binary options trading.
Many first-time trades end up in losses which is a scenario that cannot be completely avoided but can be contained and controlled with the proper approach.
First thing that is needed is the investment of potential traders’ time prior to hastily making monetary investment.
Gather as much information as you can about binary options trading, read about reputable binary brokers in which case broker reviews can be of immense help. Visit trading platforms and first go over terms & conditions every trustworthy binary options broker will have on their trading platform. Traders should carefully study this sections which should be detailed but transparent and easy to understand.
Furthermore, find FAQ section and go over basics to gain a better understanding of the facts and procedures involved with that particular broker.
Typically, FAQ section covers basic questions about how to make deposits and withdrawals, minimum deposit and withdrawal amounts, whether there is a fee charged for withdrawals, minimum deposit and minimum investment, account types, demo accounts and customer support.
Traders should also test the customer support, and since most brokers offer live chat it should not be difficult to start chatting with agents – ask questions and monitor their response since the quality of customer support can say a lot about the broker in general.
A reliable broker will want to divulge all pertinent information to their traders since they shall want them to be as informed as possible in order to avoid any sort of confusion, frustration and dissatisfaction.
Novice Moroccan traders ought to inquire whether or not a particular broker offers demo account (not all have this option) and if there is a demo account use it to try your hand at binary options trading in a risk-free environment.
Also, traders should inspect trading tools and features as well as expiry times a particular broker offer. Learn about the types of accounts a broker offers and what is included within a specific trading account.
Gathering information might take some time but it will pay off in the end, since those who possess the knowledge and information can and do perform better which, in the case of binary options trading usually means higher profits.
Additionally, the question of security on the platform is also of immense importance.
Large majority of brokers use reliable trading software which we have discussed in the section about types of brokers. Also, reliable brokers will hold safety of sensitive data such as traders’ personal information as well as safety of funds as one of their primary concerns and will, accordingly undertake steps to ensure safe exchange between their platform and traders. Mostly, an SSL encryption technology with encrypts all the data being exchanged.
Lastly, traders, be they active traders or potential ones, must be well aware of the risk involved in trading binary options.
All business dealings have a certain amount of risk present, that fact is unavoidable and it would be extremely misleading, or downright hypocritical, to claim differently.
Reliable, serious binary options brokers will make certain their registered (and potential) traders have all the necessary information concerning this risk factor when it comes to binary trading.
That is why Moroccan traders have to look for clearly presented risk warning on the broker platform. Usually, that can be located on their homepage, at the very bottom.
Reliable brokers will make sure that traders know and understand that trading binary options is a highly speculative trade which carries a certain level of risk and as such is not suitable for all who are considering to trade binary options.
We are also urging traders to read a full risk disclaimer since all necessary information and explanations which are vital for traders to get a full understanding can be found there.
The bottom line is – traders should not invest more than what they can spare to lose.