Is StockPair Worth Your Time Trading Binary Options?
Binary options are popular for many people looking into investments. There are many platforms to choose from and StockPair is just one. StockPair was founded in 2010 and offers users the ability to pit stocks against each other to gain money online.
Maximum Per Option
For those who are looking for ambitious trades, there is a maximum amount allowed per option. This is $6,000. This is more than enough to place an investment into a stock and earn a decent amount back. There is a minimum amount set of $20 per option, which is an excellent opportunity for beginners who want to learn more about the way of trading.
& To Get Started!
There is, however, a minimum deposit into the account. Like the majority of companies in this industry, the deposit amount is $200. You will not need to use this on the first trade but will need to place it in your account to start.
When trades are open for over one hour, there is the option to exit early. You will lose out on money but this can help to lower the risk if you realise that there is a high chance you chose the wrong option; you will lose out on less than if you opted for the wrong answer. It doesn’t matter if you have made a profit or are in a loss, you can still decide to leave early.
Limited Number of Stocks
You are limited on the amount that you can trade in, especially when compared to other programs. There are only 7 stocks to choose from but there are a number of currency pairs. This is a great platform for beginners as it will help to limit the decisions that you need to make. However, you will not be able to trade in various, popular commodities, including gold and silver.
Short Term Trades
24 hours is the maximum that you can trade for. This is standard for the industry but there are a handful of platforms that allow longer trades. For those who are beginners, 24 hours is long enough but for those who are experienced or ambitious, you may want to look into other trading timeframes and opt for weekly or monthly options.
StockPair offers beginners a good chance at understanding binary trading and learn more. However, this is not the best for those with experience. There is a limited number of underlying assets and time frames. There is the option to leave early, though, if you find that you have made the wrong decision.