Full Review of AnyOption Binary Options Education
Yesterday I had some friends over to watch a soccer game. I’m not really a soccer fan and I usually watch it just for us to get together and have a good time. Waiting for the match to start, I thought it was a great opportunity to get an unbiased opinion from my friends on Anyoption, the broker I was going to review next. The reason for this is that my friends have nothing to do with Binary trading and what better way to judge a broker’s education then by having complete novices read it and see if they understand anything. After reading the content, I asked them some quick questions and I was happy to see my little experiment worked and that my friends had the same opinion as me on the broker. Do not worry, no friend was injured during the experiment and I rewarded them with beer for their work. Now here is what I already found, before they read the educational material:
Anyoption – First impression: Clean and professional
On my first contact with Anyoption I was pleasantly surprised to find a clean and friendly website, with live financial news feed on the Home page and, most importantly, a trading Guide on the same page. Now this makes me think they must have good education material if they place it right in my face, to make sure I find it, not at the bottom of the page in the form of a link with a small font. Ok so far, so good, but let’s see what the actual material can teach me.
Anyoption Basic Level Education: Good Job!
Frankly, I couldn’t find the Glossary…is my attention to detail starting to fail me or they really have no Glossary? Nope, nothing wrong with my attention to detail skills; there is no Glossary, but to be honest, there’s no need for one because the “Frequently Asked Questions” section makes up for the lack of Glossary. All the necessary terms are explained in an easy to understand manner, with no additional un-useful information. I would like to include their interactive trading demo in the Basic level education because I think it’s something that a novice would like to use before actually placing a trade. This little tool lets you place a virtual trade and when you put your mouse over some “hot spots” like they call them, a box will pop up with explanation of that hot spot. After you choose Call or Put, you select the amount and you can see the trade unfold before your eyes. So the procedure is exactly the one used when placing an actual trade. The speed of time is increased, but this is by no means a disadvantage because it would be stupid to wait an hour just to see the outcome of an interactive demo trade.
Anyoption – Medium Level Education: Still going strong
Ok, now we are getting to the really good part…I hope. Usually when I see a broker that offers good and straightforward education, with no fluff and sugar coating, I hope they don’t screw up on the way by starting to feed me crappy education. So far, Anyoption did a good job, but the Trading Guide could easily change my opinion on them if it sucked. Fortunately, I found a well structured Guide, containing detailed explanation of what a Binary option is, what are the two possible outcomes of a Binary trade (with clear examples and this is very important for a novice) and what are the differences between Binary options and Vanilla Options. Ok, I have seen those differences explained by other brokers also, but the new thing Anyoption brings to the table is explaining the consequences of those differences and how they can affect the trader. The next section of the Guide, named “How to trade Binary Options” informs the trader that he/she is speculating on the movement of the underlying asset, thus informing him/her that this is not a safe game where the only possible outcome is to make a profit. Unfortunately I’ve seen numerous brokers that just praise the benefits of Binaries without warning on the risks. Next I could find one of the best explanations for Call, Put, Out-Of-The-Money and In-The-Money, all done with the use of one trade example. Good job! And I think that if a wannabe trader cannot understand how to trade Binaries after reading that explanation, maybe it’s time for him/her to look for a new career. The last section of the Trading Guide talks about the benefits of binary trading, including their simplicity, accessibility and controlled risk. Although the Trading Guide is not a very long read, it touches the most relevant aspects and gives the trader just the right amount of information. Not too much to confuse the trader and not too little, because that would just be inefficient.
After spending pretty much time on their website, reading their educational material, somehow I feel I can rely on the stuff I found here because it looks to me like they are professionals at work, not just a company that heard about the benefits of Binary Options and decided to build a website overnight, with no real concern for the traders. The information is condensed and I appreciate the fact that they do not fill my head with unnecessary information or duplicate content. All is good with Anyoption and my “Idiot Detector” did not trigger any alarms, but I am still looking for a broker that will explain at least a simple trend line or a Moving Average or anything that can give a trader some indication about the direction of the underlying asset. If they will add this kind of education to their website in the future, Anyoption is on their way to become a Top 3 broker in my book. Nonetheless, they do a very good job, offering a strong base for any new Binary Options trader.
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