What is your level of trading experience? All you have to do binary option signal service providers open an account. Options carry a high level of risk and are not suitable for all investors.
Certain requirements must be met to trade options. Please read the Options Disclosure Document titled Characteristics and Risks of Standardized Options before considering option transaction. Multiple leg options strategies will involve multiple commissions. Spread trading must be done in a margin account.
Covered calls provide downside protection only to the extent of the premium received and limit upside potential to the strike price plus premium received. Writing uncovered options involves potentially unlimited risk. Investing involves risks, including loss of principal. Hedging and protective strategies generally involve additional costs and do not assure a profit or guarantee against loss. Commissions, taxes and transaction costs are not included in this discussion, but can affect final outcome and should be considered. Please contact a tax advisor for the tax implications involved in these strategies.