Anyone who is old enough to trade in any financial market (18 years or older in the United States) can trade in binary options. This type of trading is accessible to anyone with a computer or mobile device and internet access. A college student, housewife, or great-grandparent can quickly open an account and just as quickly become familiar with the ins and outs of this type of trading.
In addition, the low cost of binary options trading makes it accessible to most people. Binary options can be purchased for as little as $10. While day trading in the stock market can require a $25,000 minimum, binary options trading is quite affordable. A trader does not have to be wealthy or risk their entire savings in order to participate in binary options trading.
However, there are a few exceptions. Some countries restrict binary options trading, while others do not regulate it at all. If a potential trader lives outside the United States, they should check the laws of their own country. In addition to legal restrictions, some binary options brokers or exchanges have their own rules. For example, some will only deal with people from certain countries. Many prefer to deal with people from countries that have well-regulated binary options trading. Others will require that trader deposit a certain amount of money before they can begin trading. It’s important to find a broker or exchange that is compatible with the trader’s needs.
Because binary options trading is the simplest form of trading, anyone who is legally able to participate should be able to quickly discern the rules of the market and trade competently. This is a market where many people have made substantial amounts of cash with only rudimentary knowledge.
