By chance I came across an advertising banner on the Internet, which drew my attention to binary options. Like many others, I had never heard of it before. After a short research it turned out to be a form of investment. Personally, I don’t understand much about trading on the stock exchange, which is why I was skeptical at first. In the end, however, I decided to try it out.

The first step to trading binary options is to find a vendor that provides you with the user interface you need. For binary options trading, there are a number of providers that provide platforms and useful information for the user. The platforms differ especially in the required minimum usage. Some also offer the option to test trading binary options on the use of virtual money before deciding to invest their own money. I chose “anyoption”, which is the largest provider of binary options trading and is considered serious.

The registration

The registration at “anyoption” was very easy. Registration is carried out by entering personal data such as name, place of residence and telephone number. After registration I had to scan my identity card to prove my identity and send it to the provider by email. After the activation I could pay money by credit card into my account and start trading.

The trade

Trading is very simple, as only two buttons determine the trade. Everything is very clear and explains itself almost by itself. I myself prefer trading on the PC, but the provider provides a useful smartphone app that allows you to trade while on the go. The first deposit I made was 200 Euros. The minimum stake per round is 20 Euros, so the potential winnings are correspondingly high. Potential losses cannot fall below the account balance of the user account. Thus the platform blocks the trade if the account balance is no longer sufficient and reminds the user to balance it again first.

Winnings and losses at anyoption

With a minimum stake of 20 Euro I made it to 200 Euro within one hour. You have to get used to the somewhat long waiting times, as the expiration of a trading period sometimes lasts 30 minutes and you are, to a certain extent, sitting down the time until then. Ultimately, however, even with binary options, the willingness of the user to take a greater risk is decisive, as this is the only way to win big profits. However, these can amount to many thousands of euros in one fell swoop.

The feeling

Even more than in traditional gambling you can feel the tension while waiting. Waiting 30 minutes can be very long as you stare eagerly at the trade price and try to estimate whether you have bet right or wrong. The time aspect is what makes trading binary options so special. You feel the tension over a long period of time. And if you make a profit after a while, you somehow have the feeling that you have successfully speculated on the stock market.

 

Experience report written by Max Sch., 35 years old, from Cologne