Difference between Binary Option and Forex
Difference between Binary Option and Forex - Currently, binary options are emerging as a competitor of forex. And not a few people who choose binary options as a substitute for forex. It is said that binary options are much easier than forex.
The difference between binary options and forex is that one of them is from the currency instruments traded. In forex, you can trade or trade in various currencies and sometimes you can also trade in several indices, and commodities and some offer crypto (this depends on the offer of the broker you use). Similar to forex, binary options trade currencies, and commodities.
Binary Options VS Forex
In addition, the difference between the two is in how to trade. In forex, there is the leverage that determines the amount of the loan that will eventually affect the capital and also the trading strategy to be used. And it should also follow the latest possible news that will be poured into its currency movements. In addition, you must analyze the previous chart to be able to determine whether the market movement will rise or fall.
While in binary options, traders only need to predict the price of the currency will rise or fall. There is no need to do market analysis as you should do in forex. It is on this basis that many traders turn to binary options because it is very easy and does not need to learn to analyze the market.
The duration between binary options and forex is also different. In forex, no duration is specified. Traders can at any time enter and exit the market as desired and by what has been analyzed by the trader himself.
And there is a minimum duration for binary options. The duration usually ranges from 3 to 15 minutes. The time of this duration is determined by the trader himself.
It is feared that this binary options broker will commit fraud because there are no regulations that bind the broker and there is also no regulatory body that oversees the movements and trading activities and financial activities of this binary options broker. This is one of the reasons why so many binary options brokers are blocked in Indonesia.
So for those of you who want to make investments, make investments in brokers or brokers that are clearly regulated and regulated by the government so as not to cause losses in the future. And also do not be easily tempted by the rapid profit and the amount of profit obtained from the illegal broker.