What are 60 seconds binary options
60 seconds binary options use the same trading mechanic as regular options, but what makes them special is the fact that the expiry is in only one minute. This makes them more suitable for traders who are seeking immediate gains and have the ability of interpreting a lot of information in a short period of time. In exchange of offering the opportunity of consistent gains, 60 seconds binary options are also posing risks that are considerably higher than the average.
In order to mitigate these risks, traders are advised to start with a smaller investment and gradually increase the amounts wagered by small increments. It is refreshing to know that the minimum amount for 60 seconds binary options is as little as five dollars. Trading these options can be done at major brokers such as 24Option, Banc de Binary and TradeRush, with the latter being the one that introduced them to the audience.
The pros of 60 seconds options
No other binary options can deliver the same immediate gains as 60 seconds options, which makes them very attractive to aggressive traders. As long as the conditions are right and the markets are trending strongly, the trader can hope to double his investment quickly by resorting exclusively to 60 seconds options. Those who are more conservative and are mostly concerned with mitigating losses, can still test the waters thanks to the low minimum amounts. This type of trading is not only profitable, but highly addictive, providing traders with the impetus to get fully immersed in the world of binary options trading.
The cons of 60 seconds options
The same tight expiry that makes it possible to win money quickly poses real threats to traders who commit even the slightest mistakes. The short expiry makes it extremely difficult to guess the direction in which the price of an asset is heading, and downright impossible to correct any error. If you don't know exactly what you're doing, or base your assumption on flawed information, it is possible to see your bankroll being crippled in a matter of minutes. With 60 seconds options you have only one chance to make things right, and the risks of losing are just as high as the chance of making profits quickly.