HighLow Review - Binary Option Broker. Are They A Scam
You will come across strategies such as the 1 Minute Strategy, but you will ultimately learn that they don’t really work. They just promise you huge returns but mention nothing about the risks involved.
The word "binary" indicates that traders must choose between the answers "yes" or "no" to the question of whether an asset’s price will be higher or lower than the established level at a given point of time.
If you are a beginner, you don’t have to waste money on "premium courses" or "secret strategies," which cannot really help. The wiser option is to just sign up at trading platforms such as Binary.com, Olymp Trade, or IQ Option and check out the free educational material there.
While the services at HighLow are exceptional, we noticed that they are a little lacking with regards to the list of available underlying assets. Their asset list is not as extensive as what most binary brokers are offering in the industry. Currently, HighLow has only 43 different types of assets. Nevertheless, the available assets are able to cover different asset classes such as currencies, commodities, and market indices.
For the convenience of their traders, HighLow has provided support for a wide array of payment methods. Fund transfers can be made through bank wire transfer, credit cards or ewallets. All major credit cards such as VISA and Mastercard are supported. For eWallets, HighLow accepts transfers through Neteller, Poli, Sofort, PaysafeCard, GiroPay and soporpay. Withdrawals can be done through the above mentioned methods as well. But it should be noted that there is a minimum withdrawal amount of $50. The typical withdrawal processing time takes one day, if the request is made before the 2pm cutoff time.
Duration of the Trade – You can exit a forex trade whenever you wish—at stop loss or take profit or depending on what you see in the financial news sites or charts. You cannot exit a binary options trade whenever you wish because you have to choose its expiry time when you purchase it. This could be anywhere from a minute to 60 minutes from the time of purchase. Of course, there are binary brokers who allow an early exit, but only if traders invest a higher amount. Risk vs. Reward – Forex traders who have chalked out a proper trading plan are fully in control of the associated risk and rewards. Binary traders can control their risks, but not their returns. Average binary trading comes with returns of 65% to 80%, indicating that the risk is definitely more than the reward. Cost of Trading – Forex trading is associated with spreads, commissions, and swap/rollovers. In case of binary trading, there are no spreads, commissions, or rollovers. Volatility – The forex market is full of surprise volatility caused by unexpected events, which can convert winning trades into losses. Such surprise volatility does not cause any harm to a binary trade as long as the trader makes a correct prediction. Making Errors – The possibilities of making a human error are higher in forex trading than in binary options trading, which is one of the chief reasons for the popularity of binary trading.
As you have to accept the 75% payout, Princessofmars.us it means you would need to be right in 57% of your gambles, instead of 50%, in order to break even. In order to win money, you need to be right even more often! This is because 57% x RM 75 (you win) – 43% x RM 100 (you lose) equals zero Ringgit.
The value of shares, ETFs and ETCs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.
As for traders who are unsure of whether to commit to a signing up with HighLow, they can actually opt for the demo account first. The demo account is provided free of charge by HighLow and does not even require you to register.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.
IQ Option is home to a number of trading tutorials and market news, which can better equip beginners for trading. And Olymp Trade has an Education Center with webinars, strategies, and trend indicators.
So what is this tool good for? It is a convenient tool if you want to hedge the risks of using trades of other types within the financial markets, for example, the Forex market. If you want to participate in binary options Singapore, you’ll need to open up an account, and for that you’ll need a broker. Brokers are legal entities that give you access to the financial market. This market is where you as the trader will conduct all of the operations on your own.
