Binary options trading are considered to be one of the quickest and easiest ways to earn money across the global financial markets because you can double your money, or loose all of your investment, in under 60 seconds. However, when it comes to trading binary options, make sure the financial markets you select are open for trading. While, traders may want to trade assets of their choice, what they also need to realize is that the markets won’t accommodate as and when desired. Therefore, if you wish to trade your choice of assets then it is important for you to take out enough time for trading as well. Here, find out which are the best markets for trading binary options.
The best part about trading in the forex market is that it provides you with the option of trading 24 hours in a day. However, this particular market is operative for only four and a half days. Four of the most prominent forex markets for trading include Tokyo, Sydney, New York and London. However, you can explore other options too.
Traders should know that the Tokyo market opens from 00:00 to 09:00 (GMT), whereas the London market opens from 07:00 to 16:00 (GMT). Similarly, the New York forex market opens from 12:00 to 21:00 (GMT) and Sydney market opens from 21:00 to 6:00 (GMT).
The United States Stock Market
While you have the option of trading in any market of your choice, the United States stock market undoubtedly offers the maximum opportunity for earning profits and price fluctuation. This particular market initiates trading from 8:30 in the morning to around 4 in the evening as per the Eastern Standard Time. However, much of the pricing related activity falls from twelve to one in the afternoon as this is the time when traders take a break for lunch. Thus, maximum activities take place in the morning i.e. before lunch.
Points to Remember
Traders are free to trade in their preferred market. However, before they initiate trading, they must contact their binary options broker and check the best time for trading their choice of assets. Given that every market opens at per its own suitable timing and therefore traders will notice that there is an overlap between the opening and closing of different markets. This is precisely why they must trade during the peak hours and extract maximum gains.
For instance, the best time for extracting maximum profits from trading GBP/USD, EUR/USD or USD/CHF is from 12:00 to 16:00 GMT. This is because the London and New York markets are open at around these times and therefore a lot of trading takes place during these hours itself.
Similarly, traders who are looking forward to trade EUR/JPY pair of currencies must choose to do so from 07:00 to 09:00 GMT as around that time they have an option to earn increased profits. Similarly, the period between 21:00 and 00:00 GMT is when minimal trading activities as there is no overlapping of markets. This is the time when only the Australian market is open and hence traders must understand that during this period, they cannot exploit the other financial markets to its fullest potential.