60 second binary options is an option that has an expiry time frame of 60 seconds. For example, a trade that is placed at 10:30:25 AM will end at 60 seconds later at 10:31:25 AM. You will place Call if you predict the price of the asset is going to end up higher than the current price.
On the other hand, you will place Put if you predict the price of the asset will be lower than the current price. Some brokers will let you choose High or Low instead of Call or Put. Usually, the broker will also offer other short term expiry options such as 30 seconds, and 120 seconds.
Advantages of 60 Second Binary Options
The advantage of 60 second binary options is that it increases your chances of making a profit since it expires in just 1 minute. This type of option is ideal for traders who want to take advantage of the short term opportunities in the market. You can choose this option when there are strong market moves.
For example, if there is a strong market move for the USD/JPY currency pair, and that the chances is that the currency pair will only remain strong for 60 seconds so you can choose the 60 seconds binary options to grab this opportunity. If you want, you can trade the 60 second options on more than one assets.
Disadvantages of 60 Seconds Binary Options
It is very common for new traders to over trade when trying to keep up with the market move. However, this is not the way to win in your trade. It will take some time for you to have a good trade set ups. Newbies are often easily distracted and end up with poor trade set ups.
It is recommended that you don’t trade more than 2% of the deposit in your account into a 60 seconds binary options trades. Many binary options brokers allow you to trade in increment of $10 so that you won’t lose money too quickly.
Also read: Bitcoin Binary Options Brokers
Tips on Trading 60 Seconds Binary Options
Before you start trading on 60 seconds options, make sure you already know how to use the binary options trading platform. This is important as you don’t want to make mistake on the first trade you place on a platform that you are not familiar.
You should at least know the basics of operating the trading platform for example opening, closing and making adjustment on the trades. Once you know how to operate the platform, you can test its efficiency. It is important that the platform can execute the 60 seconds trade you place at the exact time and price you set. If the platform cannot execute the trade accurately, you may risk losing money as a tiny price movement can make a difference between profits and losses.
The payout for 60 seconds binary options is lower compared to standard binary options. Usually, it will offer a payout of 60% – 70% compared to 80% – 90% in the standard options. If you want to make a profit, you must have a win rate at least 6 out of the 10 trades you place.
60 seconds binary options may be a way for you to make quick profits but it is also the fastest way to lose money. You may get trapped in trading again and again to try to recover your losses.
Finding a Reputable Broker that Offers 60 Seconds Binary Options
When searching for a broker for 60 seconds options, you will also want to check if they also offer other types of trades for example standard high/low. The broker must be trustworthy and have good reputation in the trading community. Reading reviews written by traders who have traded with the broker before allows you to detect any underlying issue with the broker. You must make sure you read reviews not just on one review site but on 3 – 5 reviews sites.
You will want to check to see if they support your deposit/withdrawal payment method. Most brokers accept credit card and bank wire for deposit and withdrawal but there are also other brokers that use third party payment processors such as PayPal and Neteller.
60 Second Binary Options
In conclusion, 60 seconds binary options is a new options in the trading market but you must know how to manage your risk so that you don’t use up all the balance in your account in a short time. 60 seconds binary options involves fast moving market.