In Bins when you sign up to a broker you deposit in USD, EUR or GBP. So lets say for example the minimum deposit to start a live account is 10.....you decide if you want to deposit 10 USD, EUR or GBP. But you are going to deposit your currency equivalent to the minimum.
Does that make sense to you?
Also, please be careful not to get carried away with the binary trading, it's all too easy to get addicted!
Also, to further answer your question, when you trade currency with Binary you aren't actually exchanging your currency for the currency being trades. For example, if you deposit in USD $100 your balance will be $100 USD and all trades will be made in USD, when you make a trade on the eur/usd your trade amount/wager will be in the currency of your deposit... so $10 usd on a call option for eur/usd, and your winnings will also be in USD. Your trading on the direction of the trade, not the actual exchange of currency.
That make sense?
Hi Gordon, well, that is a tough question!
I suspect many will have their own preference and there will not be a "right" answer that will suit everyone. It may also depend on your trading strategy. If you are taking into account technical analysis over different time frames, you might then get a 'feel' for how long you need so that a) Your trade finished in the money but b) Is not so long that it might drift out again.
I'm not sure that helps, but it's very much a guessing game!