Introduction to trading binary options in Canada
Although there is at present no binary option broker trading out of Canada, people who live in the country can trade online by registering with sites abroad. There are numerous reputable brokers which are properly regulated and accept new traders from Canada. The sign up process involves completing an online form with some personal details, then waiting for the confirmation email and clicking the ‘complete registration’ link it contains. As binary options investors trade the markets from home, having to use a broker based abroad puts Canadians at no disadvantage compared to those in Europe or the United States.
Binary options brokers for Canada
There are numerous reliable and well-managed binary options brokers that cater for Canadian traders. Here is a list of the most popular:
Platform is extreamly user-friendly
Wide range of trading oportunities
||Veterans in the binary options industry
BD Swiss review
Each of these brokers operates under the robust regulatory terms of CySEC, or the Cyprus Securities and Exchange Commission. Membership of CySEC insures investor’s funds are protected, and signals that a broker can be considered reliable.
Binary options in Canada
Although they are still seen as somewhat exotic options in Canada, binary trading is becoming more common across the country and is accessible to even the least experienced new traders. In global terms binary options are a well-established form of financial investment, with many brokers having a ten year history in the industry. With stricter regulation and increasing popularity amongst international traders, these investments have become far more visible in Canada. We have seen many brokers setting their sights on the Canadian market, with a steady stream of promotions and advertisements aimed at Canadians.
Is it easy to Trade Binary from Canada?
Across the globe there are many countries that have strict laws, or complex legislation in relation to how investors can trade binary options from an online account. That is not that case with Canada however; people are free to trade any type of binary option asset online.
Tips for trading binary options in Canada
Pick your broker carefully
Good brokers can make all the difference to your binary options trading experience. Check out their regulatory status, what they offer to new account holders and whether they provide educational materials, as well as probing their reputation with other traders in online forums.
Before you sign up for a demo account with an online broker, prepare yourself by reading articles, reports, and how-to guides on the binary options industry. You can always increase your knowledge as you go along, but starting out with a good basic understanding of trading is beneficial.
Make the bonuses count
When you join up and possibly after you’ve been trading for a while, many brokers offer generous bonuses to boost your investment pot. Always take advantage of these and use them wisely rather than considering them as free money.
Have plans for the long term
Rather than moving from phase to phase, or fad to fad, get a plan together and stick to it. Binary trading is not a get rich quick scheme, enjoying the better returns requires planning and strategy.
Keep investments low
You can reduce your risk of losing large amounts of money by cutting down on your investments. Even if you feel sure of an option, keep a cool head and resist the urge to over invest.
Be in the right frame of mind
If you trade when you’re particularly stressed or upset, your decisions and intuition are unlikely to be on top form. Relax, clear your head and get calm, before you even think about logging on to your account.
Watch the market
Be aware of news and events that could affect the binary options trade. This will enable you to understand more about trading successfully when the market peaks or crashes, and to the recognise signs that either is imminent.
Binary options trading can be a fun hobby, but it’s optional. Do it because you like it or because you enjoy the challenge, and soon your natural instincts will shine through.
Payment and banking choices
If you are living in Canada and want to sign up to a binary options trading site abroad, there are many ways you can deposit money into your account, or withdraw it if you have a successful run.
Brokers often charge a set fee or a percentage of the amount to traders who use an online wallet service; this may be reduced for credit card or bank transfers. Some brokers may also ask for documentation that verifies your identity before releasing your funds; they are obliged to do this under the terms of their regulation.