The advantages of using the versatile Epix Trader software are numerous. The software has been designed to be used in two manners:
- As a signal software and semi-automated trading system on binary options
- As an EA (Expert Advisor) plug-in on MetaTrader 4 – which then acts as a fully automated robot trader.
If this is your first encounter with the Epix Trader Software you should read our Epix Trader Review
Whilst downloading the Epix Trader Binary vs Epix Trader Forex is much easier to start off with – especially for new traders – the advantages of using Epix Trader on the MT4 cannot be overlooked.
If you are new to trading and do not know what the difference between trading binary and trading forex are, then I recommend that you go through our article
Binary Options vs Forex – Investing and Earning Online.
Trading Binary Options Vs Forex Explained
However, in a nutshell, here is a quick overview of the difference between trading binary and trading forex.
Trading Binary Options:
Binary options are trades which you take based on the open market against a broker. The trades are based on deciding whether a currency pair or stock will go up or down in a specified time frame. Once the trade reaches expiry the trader will either win up to 85% of his trade or lose everything. This kind of trading is in-house. Meaning that the trades are contained within the binary broker’s trading house and are not trades taken on the open market.
When you are trading binary you are betting against the broker. The broker will need to match winning and losing trades from all their client traders. If for any reason there is a great shortfall between winners over losers, the Broker will need to pay the difference to the winners out of his own pockets. Naturally, this is the reason why we always recommend that you trade with a Recommended Broker!
Trading Forex
Forex (Also commonly known as Foreign Exchange or FX) is the decentralized market for trading currencies. When trading Forex, you are trading against the open market on a broker’s platform. Essentially, the broker is “lending you” his platform and his trust level should also be high and ideally regulated by CySec!
In order to be able to trade Forex you first need to install the MetaTrader platform on your terminal. If you do not have a MetaTrader4 platform, here is an article that can guide you through the steps of installation: Meta Trader 4 Beginners – Introduction to the Platform
You can download the MT4 platform through any of the Forex Brokers sites and furthermore they will offer you a free demo account. Always do your due diligence about a broker before signing up for a live trading account.
When trading forex you also decide on the direction where the market will be going. The only difference between binary and forex is that you are not restricted by the expiry time of your trade. However, you will need to limit your exposure by taking stop losses, as the losses can accumulate fast if the trade goes against the direction that you thought it would!
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