Binary Options Trading in Sri Lanka
Nearly 20 million people live in Sri Lanka, and many Forex, Stocks, and Options traders have fully embraced the Binary Options trading environment. Binary Options trading involves predicting correctly if the price of an asset will go up or down after a predefined time interval. If you guess it correctly, you will win up to 92% of the invested amount. It is known as “binary” because there are always just two possible outcomes. It is either a YES or a NO. If this is something that you find interesting and want to do yourself, then read through this article. We also listed our recommended binary options brokers here for you to check.
Binary Options Trading in Sri Lanka is one of the well-known markets for those who want to succeed in this trade. Lots of investors want to put their funds in such a high-risk but with high return trading instrument. These allow traders to trade with limited funds and use trading strategies to be successful and profitable.
Why People are Trading Binary Options in Sinhala?
Binary Options Sinhala have gained much popularity among the traders’ community, especially the traders with higher risk appetites. Sri Lanka (Sinhala) is continuously encouraging investments in its rapidly developing economy. In the recent past, it has brought several changes in policies to create a more favorable investment climate in the country. The per capita income in Sri Lanka has doubled since 2005, and Sinhalese investors are seeking new investment opportunities to boost their return on investment. Hence the local Sinhalese entrepreneurs and foreign investors have chosen Binary Options Trading in Sinhala (Binary Options Sri Lanka) to get up to 92 %* return on investment for a successful trade.
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Binary Options Trading and Sri Lanka
Binary options trading in Sinhala (Sri Lanka) has seen rapid penetration into small cities due to increased computer and internet users worldwide. The majority of the binary options traders are from Colombo, the capital city of Sri Lanka.
Binary options are completely different from trading stocks, Forex, bonds, and mutual funds. But binary options are quite simple to understand. Instead of investing in a particular asset (i.e., Microsoft, Google, Facebook, EURUSD, USDJPY, or NASDAQ), a person who invests in Binary Options is betting on price fluctuations in the price of a particular asset. The investor who predicts the direction of price fluctuation correctly will win a predetermined sum of money; if the prediction goes wrong, he loses the entire investment.
There are different expiry time duration provided in binary options trading. The expiry of the trades may vary from 30 seconds to up to one day. The expiry time is the point of time when the reference price of the asset is considered to decide the outcome of a trade.
Recently, the Sri Lanka government has lifted restrictions on foreign exchange flows and allowed the free transfer of money in and out of the country, to encourage investment in the country, which is very encouraging for Binary options in Sinhala.
Finding the Best Binary Options Broker in Sri Lanka
The first step towards making your binary options trading is choosing a Binary Options Broker in Sri Lanka. Picking the right Binary Options broker in Sri Lanka is vital to your success as a trader. With the help of a reliable broker and technical indicators, Binary trading is undoubtedly easy. It can be very profitable, but overwhelming, especially if you are a beginner. So, you need a Binary Options broker to ensure that you have the services and security you need to start trading safely. Check out the list of Binary Options Brokers.
IQ Option Sri Lanka
Founded in 2013, IQ Option Sri Lanka is one of the world’s largest binary options brokers around today. It is an online trading platform that offers various financial instruments like Binary Options, Forex, Digital Options, and CFD platform. IQ Option Sri Lanka offers a Free Demo Account for traders. It is a great way to try other strategies and get familiar with the interface of the trading platform. Traders can deposit using a credit card or debit card (Mastercard/Visa). Also, some electronic wallets, such as Neteller, Skrill, Cryptocurrencies, and WebMoney. The Electronic Wallets can help you deposit without directly using your Credit or Debit Card information on IQ Option’s website. If you face any issues while making an deposit, feel free totalk to your account manager or customer support.
IQ Option Contact Sri Lanka
Customer support not only shows that they care about their clients, but it also shows their professionalism. IQ Option provides support through its Global Support Team for Sri Lankan traders. You can contact via Email: firstname.lastname@example.org, Online Live Chat, and a call back request from the account manager.
Quotex Sri Lanka
Quotex is a popular binary options broker in Sri Lanka that offers traders the opportunity to trade a wide range of financial assets, including stocks, commodities, currencies, and indices. The broker is known for its user-friendly trading platform, which is designed to be easy to use even for novice traders. Quotex also offers a range of educational resources, including webinars, tutorials, and eBooks, to help traders improve their trading skills and knowledge. The broker is regulated by the International Financial Services Commission, ensuring that traders can trade with confidence and peace of mind. With its competitive trading conditions and excellent customer service, Quotex is an excellent choice for traders looking to trade binary options in Sri Lanka. Check our full review of Quotex here.
Is Quotex Legal in Sri Lanka?
Yes, it is legal to trade with Quotex in Sri Lanka. However, you can check the updated list of restricted countries on the Quotex Website.
ExpertOption Sri Lanka
ExpertOption is a popular online trading platform that has gained popularity in Sri Lanka. It is a reliable and trusted platform that offers a wide range of trading instruments including stocks, currencies, commodities, and indices. The platform offers a user-friendly interface that is easy to navigate, making it accessible to both beginner and experienced traders. ExpertOption also provides educational resources and a demo account for users to practice their trading skills before investing real money. The platform is known for its fast transaction processing times and excellent customer support, making it a preferred choice for traders in Sri Lanka. Overall, ExpertOption is a great option for anyone looking to get into online trading in Sri Lanka.
Read our ExpertOption Detailed Review here to learn more.
Is ExpertOption Legal in Sri Lanka?
ExpertOption is a reliable and convenient option for traders looking to enter the world of online trading. However, it is important to note that regulations and laws regarding online trading platforms such as ExpertOption may vary from country to country. It is recommended that individuals interested in using ExpertOption or any other online trading platform in Sri Lanka do their research and seek professional advice to ensure they comply with the laws and regulations.
Pocket Option Sri Lanka
Pocket Option is an online trading platform that has gained popularity among traders in Sri Lanka. The platform offers a range of financial instruments, including forex, cryptocurrencies, and stocks, to trade on. Traders can access the platform through a web browser or mobile application, making it easy and convenient to trade on-the-go. Additionally, Pocket Option provides educational resources, such as trading strategies and webinars, for traders to improve their skills and knowledge. With a user-friendly interface and reliable customer support, Pocket Option has become a trusted choice for traders in Sri Lanka looking to enter the world of online trading.
Check out our Pocket Option Review here to learn more about the broker.
Is Pocket Option Legal in Sri Lanka?
Yes, it is legal to trade with Pocket Option in Sri Lanka. However, you can check the updated list of restricted countries on the Pocket Option Website.
Olymp Trade Sri Lanka
Olymp Trade Sri Lanka is one of the leading Fixed Time trade and Forex brokers having clients worldwide. It complies with the regulations of the International Financial Commission. It accepts investors from most of the countries, including Sinhala (Sri Lanka).
Olymp Trade has it’s custom-built modern, advanced, and most user-friendly trading platform. The trading platform is equally suitable for professional traders and beginners. Olymp trade Sinhala allows you to trade both Fixed Time Trades and Forex trades in the same trading account. The Fixed Time Trades range from 60 seconds to up to 5 minutes with a payout of up to 90%.
Olymp Trade Sri Lanka Contacts
Choose a broker that provides multiple contact options to their clients. Olymp Trades offers customer support 24/7 through Live Chat, Email, and Telephone. Currently, Olymp Trade does not have any local office in Sri Lanka and has no local telephone support.
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Commonly Asked Questions
Is Binary Options trading legal in Sri Lanka?
Yes, Binary Options Trading is legal in Sri Lanka. The Sri Lankan regulators don’t prohibit Binary Options trading with online trading platforms. Most brokers and online trading platforms listed here have mentioned the list of allowed countries on their website. You may check yourself on the broker’s website, the legality of trading in your country.
Which is the Best Binary Options Broker in Sri Lanka?
Finding the best binary options trading platform as a Sri Lankan is not easy. Mostly, getting the brokers that accept Sri Lankan traders. But the good thing is, there are many reliable brokers to choose from, and it is just a case of picking the right one for you. These excellent brokers are the IQ Option, Olymp Trade, Quotex, ExpertOption, and Pocket Option. A demo account allows you to practice and gains your much-needed experience without using real money. If you are a new trader, then you need to choose a broker who offers a demo account to practice before you get into the actual trading.
Will I make money by trading Binary Options in Sri Lanka?
Most traders’ top goal when they start trading binary options is to be successful and to gain profit. But, not all traders become successful in trading binary options. And lots of traders even end up losing their funds. If you are serious about your binary options trading ambitions, it is vital to take time searching for the trading strategy that will suit your trading needs. It would be best if you learned to have risk management skills, good trading discipline, and analysis skills. Therefore, practice in the IQ demo trading account before you invest in the real trading environment.
Is Binary Options trading Risky in Sri Lanka?
All investments come with risk – and this includes binary options trading. You guess whether the price of an asset will move lower or higher at a certain level point in time. If you get it right, you win a 90% fixed profit. When you are wrong, you lose the amount you have risked in the trade. Keep in mind that Binary Options trading carries a high level of risk and can result in the loss of all your investments. Make sure you should not invest money that you cannot afford to lose.
Technical Indicators for trading Binary Options in Sri Lanka
Technical indicators are essential for every binary options’ trader because they could help you execute your strategies. Also, some indicators, charting tools, and oscillators will help you make the right trading choices. MACD and RSI are two popular technical indicators. It is rare to find a binary options broker that does not give access to the most important technical tools. But it is always whether the broker you have picked will allow you to use these tools. Practice your chart analysis and money management skills in a risk- free demo account.
The best way to initially start trading Binary Options in Sri Lanka is by practicing in a demo trading account. It will serve as a way that you can gain valuable trading experience in a no-risk way. If you are new to trading, it is important to utilize a demo trading account before you invest in the real trading environment.
With Binary Options, Forex pairs, Stocks, Commodities, and Indices under Binary Options or Fixed Time Trades. It has an expiry of 30 seconds, hours, and even days. For some experts, trading with higher expiry times is much better. Such as 5 minutes and more to increase your success in Binary Options trading. Successful binary options traders often gain great success by utilizing Risk management and trading discipline.