FXaxe is a top insider resource that aims to help new and experienced traders alike make a success of their online trading endeavours.

Our team includes a number of ex traders and financial market professionals who have extensive experience when it comes to trading strategies, broker advice and trader tips.

Whether you are trading shares, Forex, CFDs, binary options or Crypto Currencies the FXaxe team will give you the information that you may require.

Before you can begin trading, you have to make sure that you have an account at a top broker.

Three Steps to Begin Trading Now

First step in Binary Option Trading

Choose a broker from the list below

 
FXaxe
Rating
Min
Deposit
Min
Trade
 
Example Broker Table
9.2/10
$100
$1
Your Capital is at Risk
Open Free Account
Example Broker Table
9.2/10
$10
$1
Your Capital might be at Risk
Open Free Account
Example Broker Table
9.1/10
$100
$10
Open Free Account
Example Broker Table
9.1/10
$100
$1
Your Capital is at Risk
Open Free Account
Example Broker Table
9.0/10
$250
$24
Open Free Account
Example Broker Table
9.0/10
A$10
A$1
Open Free Account
Example Broker Table
8.8/10
$100
$1
Open Free Account
Example Broker Table
8.7/10
$250
$1
Open Free Account

Second step in Binary Option Trading

Create a Broker Account

Depending on the type of assets that you would like to trade, different brokers may have different offers. Similarly, your choice of broker is dependent on what instruments (binary options or spot) you would like to be using. It is for this reason that having more than one account at different brokers is recommended.

Third step in Binary Option Trading

Deposit Funds and Start Trading

Depending on the broker you have chosen, each will have a minimum deposit. Once your minimum deposit has been met, you are ready to start trading! Now all you have to do is select the asset you would like to trade. You can either trade on a demo or with a live trading account.

Choosing the Right Broker

Before you can actually decide on what instruments to trade and what strategies to follow, you need to find a broker.

This is probably one of the most important decisions as it will impact on your long term profitability. Factors such as regulation, platform pricing, tools and customer service are really important.

When it comes to regulation, you have to make sure that the broker is covered by a well-known regulator. This is for a number of reasons including client protection and reasonable pricing.

The pricing that the broker gives you will also directly impact on your profitability. It is the determining factor by which you can enter the trade and hence the level that you are able to lock in.

Similarly, a trader is only as effective as the tools that they have at their disposal. A broker platform that includes charting software, news feeds, pricing alert and other indicators is preferable.

Of course, using a broker that is able to provide this all with a smile and be receptive to customer queries and concerns is also essential.

Our team of FXaxe traders have spent the time to run through a range of different platforms and have been giving them a broker review.

These look at all of the factors above including a number of other really important requirements. We give all of the brokers a proprietary FXaxe grade out of 10.

What Should I Trade?

This is one of the most important questions that you need to establish from the beginning. What should you be trading and what instruments should you use to trade them?

It seems as if the online trading world seems to move in waves from one asset and instrument to the other. Firstly, it was all about penny stocks, then it moved to Forex and Binary Options. Now it seems as if the new vogue seems to be Crypto Currency.

The truth is that there is not really a right answer.

This depends mostly on personal preferences of the trader. This includes such things as your tolerance for risk, your experience and the time you have to devote to online trading.

Shares, Currencies or Commodities

Before you can get started on trading, you have to know what type of asset you would like to trade.

In online trading, there are 3 main types of assets that you can consider trading. These are Shares (Equity), Currencies (Forex) and Commodities.

If you were looking at it from a technical perspective, then these assets may have similar trends and charting patterns. Yet fundamentally, they are quite different.

Also, within each of these asset classes, there are individual assets that are also markedly different. For example, with currencies you have traditional FIAT currency and of course Crypto currency.

What Interests you?

This is probably the most fundamental step. You need to only trade on those assets which interest you the most.

Warren Buffet loves studying equity and reading up on finding undervalued shares. George Soros is a global macro trader and tends to focus on currencies and interest rate products.

They are incredibly effective with these assets as they have a passion for trading them. You need to also find your passion (beyond making money).

Are you interested in reading financial reports or trading on the fortunes of a company? Are you interested in following the announcements of this company?

Or perhaps, you may be more interested in trading assets such as currencies and commodities that are mostly driven by external global factors?

Once you have decided which types of assets you would like to trade then you can focus on the individual assets within this class. This is where you become an actual specialist.

Become a Specialist

Although it is entirely possible to trade a range of different assets, we are of the view that the best traders are those who are able to specialise in a particular class / asset.

This is where a trader can differentiate themselves from the general market and greatly improve their trading record. Indeed, in the large investment banks and hedge funds, individual traders will focus on a particular asset to be proficient.

Individual assets do indeed have their own idiosyncrasies which tend to be unique to that asset. This is why it could indeed be quite hard to merely jump into a new asset and start making money with it immediately.

What Instrument to Use

Once you have decided on the assets that you will be trading, you will need to choose an instrument to use in order to trade these assets.

There are three main instruments that you can trade. These are plain equities and Forex, CFDs and Binary Options. We have covered the differences between forex and CFDs vs. Options previously.

These instruments differ according to their risk, flexibility and range of strategies that you can use them for.

It is also important that you don’t just jump into using an instrument that you do not have an understanding of how to use.

Instruments such as CFDs are highly levered and could result in lost capital. Similarly, Binary Options require a certain understanding of option theory including pricing of binary options.

That is why we would always recommend that the trader start with the basics of trading the asset itself before moving onto specific instruments.