Quoting from various sources, binary options are one of the online trading instruments. Each trader only needs to predict or guess the price of an asset, up or down within a certain period of time determined by the binary options platform.
Binary options are becoming a hot topic in society. With the lure of exorbitant profits, some parties did not hesitate to 'play'. This instrument is often juxtaposed with foreign currency trading (forex). Some argue that the way to play the two is the same as gambling.
Before playing, traders need to register on the binary options platform. After that, the trader makes a deposit in the amount that has been determined by each platform. Later, traders can choose the assets to predict, such as currencies, stocks, and commodities. After that, traders need to enter the capital that will be bet.
The amount of capital at stake will depend on the type of asset selected. In the game, traders only need to guess the price of the asset is above or below within the specified time duration. If the trader's answer is correct, he will get a profit according to the initial calculation.
On the other hand, forex trading is an investment instrument in Indonesia. Instruments that are traded are only the value of the currency of one country against the value of the currency of another country. The majority of traders only focus on the value of major currency pairs, such as EUR/USD, USD/JPY, GBP/USD, USD/CAD, AUD/USD, and NZD/USD.
To trade forex, investors need to choose an official broker registered with the Commodity Futures Trading Regulatory Agency (CoFTRA). The public can actually choose a foreign broker. However, for security it is better to use a domestic broker that is easy to track.
After choosing a broker, investors must deposit as initial forex trading capital. The deposit can be used to buy the currency the trader wants. This currency will coexist with other currencies.
For example, USD/EUR, meaning that traders will buy United States dollars compared to European currencies, and vice versa. Profits and losses in forex trading will depend on the movement of the selected currency value.
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