You can open account ar : Anyoption – anyoption.com
First of all you need to find a specialized binary option broker. The binary option trading platforms are web based online trading platforms that offer their services as brokers. As a very first step you are required to find the most suitable binary option trading platform and register yourself on that platform. Unlike all other conventional financial tools the binary options are not executed by traditional brokers. The brokers associated with binary options are often specialized in these financial tools. Mostly the trading techniques of all binary option brokers are less or more alike but they differ on number of assets available and maturity conditions. Before opting for any of the broker it is preferable to conduct a detailed research and at last choose one whose characteristics and offerings suit you the most.
Once a suitable binary option broker and platform is known, you need to choose underlying assets on which you will buy the binary option. Once again there is a need of elaborative research for the purpose of determining that which asset would be able to generate more money. There are a number of available assets that can be traded using binary option. Indeed the number is growing day by day. Binary options can be traded on currency, stock, physical commodities and indices as well. Your decision as in which asset you really should invest depends on the degree of familiarity you have with different kinds of assets. If you are well aware of the possible future fluctuation in currency rates than trading binary option on currency would be profitable for you.
After choosing the underlying asset for binary option trading you need to decide that whether to go for call option or put option. This is very simple, if you assume that the price of underlying asset will go up than put a call option, on other hand if the price of underlying asset is supposed to decline, go for put option.
The expiry period of underlying assets vary from broker to broker and from asset to asset. Expiry dates may range from an hour to monthly and even longer. It is possible that on same asset different brokers offer different expiry date. A single broker can also offer multiple expiry option on a single asset. The selection of the expiry duration depends on your strategy and your anticipation about the future price of underlying asset. If you have anticipated the price of an asset for a week you should opt for expiry duration of a week. If in case you feel more comfortable with long period anticipations, than you should execute trade of binary option with longer expiry duration. The selection of expiry date will also assist you to decide on whether to trade with a put option or a call option. Binary options offer great opportunity to traders by maximizing the potential of profit and minimizing the potential risk.