Important Types of Binary Trading Options
1. Digital Binary Option
This is the most typical binary option type. It is often mentioned as CALL and PUT Option or UP and DOWN Option.
Here, you place a CALL if you think the price might finish up above the starting price after the contract expires & a PUT option if you think the price might end below the starting price.
Here, you have different expiry times available like 60 sec, 15 min, 60 min, etc. Also, with the platform, you are able to automatically study your trade & exit at the chosen time without needing to do anything physically. Youâll usually receive an email notification that states the standing of every single trade one by you.
In addition, you will be able to follow the position of current trades via a Trading Platform or through the portfolio page of your account.
2. Touch Option
Touch Option may have variants like NO TOUCH, TOUCH, & DOUBLE TOUCH.
Touch options are available with predefined rates required for winning the trade. Here, you wonât need to predict if the price of the underlying item will rise or fall, rather you predicts a level where the item might reach (called as âTouchâ) or wonât reach (called as âNo Touchâ).
No Touch pays if the defined level isnât reached & in Double Touch, 2 levels are defined as paying out the moment anyone of them is reached.
One Touch can be suitable for those who think that the value of an underlying product may touch the predefined level at some point, however whoâre not certain about the sustainability of the value.
3. 60 Second Binary Option
Here the option expires within 60 sec. The main advantage to this kind of option is if the price of a product is steadily moving in a single direction, you could take maximum advantage by doing several trades successively.
Basically this type is similar to Digital Option & has a very small expiry period. This method can be considered if you wish to profit quickly from the market which is already trending.
4. Boundary Option
This option is identical to the touch option with the lone exception being in boundary option, two levels need to be defined.
At times, itâs also referred to as Tunnel Option or Range Option. Here, you define the Upper as well as lower levels and make sure that the product stay within this range in order to generate profit.
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