A multitude of binary options trading sites have come into existence over the past few years. These websites provide users with an opportunity to procure binary options on a wide range of ‘underlying assets’, such as commodities, e.g gold and oil, as well as stocks and forex. If you need to find out more about what binary options trading actually involves most trading platforms will provide a thorough explanation of how options trading works. One reason why binary options have become so popular is the limited number of outcomes at stake. In essence, there are just two possible outcomes: a fixed gain or else a loss. The potential profit or loss will always be known to the trader beforehand.

Plenty of trading sites offer demo accounts, offering you the chance to ‘test the trading options waters’, which, to give an example, could take the shape of forecasting the price of a given commodity at a given time. Digitial options are a type of binary option. The different outcomes are defined as being ‘at the money’, ‘in the money’ and ‘out of the money’, the end outcome being dependent on your forecasts being correct. Trading can be done in real-time and often involves short-term trading with trade expiry times measured in minutes. Furthermore, you don’t need previous trading experience to get involved.