CLOSEOPTION BINARY OPTIONS OVER FOREX AND CRYPTO
I note that our definition of a “broker” for this thread is a “forex broker”.
But I’d like to propose we consider options which have Forex as
an underlying. While I am not going to recommend Nadex as such
a broker, I’d like to propose we reommend CloseOption as a very
useful adjunct to Forex trading, and one which is openly U.S.
friendly, including open KYC for U.S. persons. (I don’t get
compensated for this recommendation.)
In my view, the Forex trader should have an Options platform
available for 1) Risk Management, and 2) Scalping Precision.
Risk Management defines the maximum Loss and maximum Gain
possible in a trade. This follows as a property of a “binary” option.
Scalping Precision is also property of Binary
Options, that only a small price move in the desired direction yields
a fixed outcome. But the trader cannot lose more than the
amount chosen by the trader.
[EDIT] Another interesting feature is that this Binary Option
platform has no Bid/Ask Pricing Spread and so a high level of
precision is possible.
CloseOption provides these features in a fair and trustworthy
execution environment, and it is openly available to U.S. persons.
I’ve extensively tested the precision and fairness of the outcomes,
and have never seen an outcome which I would dispute.
Options extend to a maximum expiration duration of 1 month,
with many intermediate fixed expiration durations, adequate
for both day traders and long term traders.
I would caution, however, that while these platforms do support
extremely short durations; that NO TRADER should use these
unreasonably short time periods, as this would be gambling in the
absence of micro scalping predictive indicators.
DON’T BE TEMPTED TO DO THIS However, durations such
as 1 hour or longer, are perfectly reasonable timeframes over which
to make predictions.
I guess this recommendation won’t fit into our trusted brokers
list category, and the availability of Binary Options is both limited, but more
often identified as a scam business, and many Binary Options
are indeed scams. I’m saying that CloseOption does not suffer
from these criticisms, so it is a legitimate tool for Forex traders.
I’ve tested the outcomes with an intense level of precision, and this
Binary Options platform never cheats the trader by giving a false
outcome. That, in itself, is a remarkable achievement.