When you don’t know anything about financial markets and binary options, it’s rather difficult to know where to look for advices and tips. But if you really want to learn about binary options trading, there are plenty of freely available resources you can use out there on broker websites. We believe that the most efficient way to learn something is to get your hands dirty: learning by doing. Of course you will need to learn the theory about financial markets, in order to understand how financial asset prices are fixed and which kind of factors may impact a specific asset class. But when you are done with the basic theory, you will need to learn by trading. Most binary options brokers propose demo accounts once you’ve made your first deposit. That way, you can try different strategies on different assets with different option types without any risk on your capital and you can get a better understanding of each product and each feature. Moreover, all our recommended brokers propose different educational tools to help you start with binary options trading, such as:
- Ebooks / manuals
- Educational videos
- Seminars or webinars
- Risk-free demo accounts
- One-on-one training with a trading advisor (this king of privileges may only be available for VIP accounts that require higher initial deposits)
As we mentioned above, most of these educational tools are freely available and we highly recommend you to have a look at them before you trade with any broker. These tools may help you avoid the typical mistakes made by binary option beginners but also provide you with some useful tips regarding the implementation of basic trading strategies. In our article “Binary options definition – explanation and example”, we already presented you with the key things to know about this financial instrument. Some of the educational tools listed above and detailed below may go further into details and be more appropriate for those that already have a good understanding of financial markets and binary options.
Learn with binary option ebooks
An ebook is a downloadable manual that will present you the most important characteristics and features of binary options. Each broker proposes its own ebook and may also introduce the different functionalities of its trading platform in the manual. We will learn about binary options characteristics, order management, risk management, trading functionalities (early closure, rollover, double-up…), trading strategies… Anyoption and Topoption both offer 5 ebooks for free, you just have to login with our name and mail details to access them. 24option also proposes a 25 page ebook and many FAQs to help you better understand the specificities of binary options as well as an interactive ebook that makes reading about binary options a more fun and exciting experience. You don’t even need to login to access the 24options’ educational center.
Learn with educational videos
Videos are by far the most popular method for traders to learn about binary options and for brokers to present the different functionalities of their platforms. These videos typically include simplified diagrams that simply explain how binary options work as well as order styles and platform tutorials. Videos are extremely popular among beginners that get to visualize certain concepts that are difficult to understand without illustrations and examples. All our recommended brokers propose an extensive library of interactive and educational videos to help you learn while using real examples of trades and strategies. OptionTime proposes more than 20 different videos ranked in 3 different categories (trading basics, options trading and advanced courses) available for free that will enable you to learn things that are appropriate to your level.
Learn with seminars and webinars
Not all brokers are able to offer such advanced learning tools. A webinar is an online event that is hosted by a broker and broadcasted live to a select group of individuals via the Internet. It means that a professional trader will host the event live and will be able to answer your questions. It is not a simple video that everybody can watch, it is a tailor-made event that is broadcasted live via video software. You can see it as an interactive workshop where you will be able to follow the instructions of the professional trader hosting the event. You will definitely have to login with the broker to access the webinars but you may not be required to deposit anything. 24option and Anyoption are the best in this field with weekly webinars on diversified themes (introduction to binary options, fundamental analysis, trading strategies…)
Learn with risk-free demo accounts
As we mentioned it in our introduction, we believe that a demo account is the most efficient method to learn about binary options. You can try and implement different strategies and learn to use the broker’s platform and its specific features without any risk on your capital. Most Demo accounts are only available once you have made a minimum deposit of $100 to $250 depending on the brokers. IG binary is the only broker that proposes a free demo account but its options are slightly different than traditional binary options proposed in Europe. IG is also the only binary broker that is regulated by the Financial Conduct Authority (FCA). The confidence that it gives consumers should not be underestimated.
Don’t hesitate to have a look at our detailed reviews of each of our recommended binary options brokers and use our secured links for additional benefits.