Definition of a Binary options Broker: Binary options brokers or other wise known as options trading platforms are internet online based sites offering investors a place to trade in Binary options from anywhere at any time. Each Binary options broker is individual each offering traders a plan with various assets.
Here is a quick review (but explained in full below) of things to consider when choosing your Binary options broker. No sign up fees, minimum trade amount, percentages on returns. Research different brokers and you could have higher earnings and fewer losses.
The fact that Binary Options trading is growing in popularity, there is also a demand for professional and reliable Binary options broker platforms. You do have to beware as there are several online options scams in the binary options market, who try to sell new investors unreliable and untested Binary options broker platforms. Due to the lack of reliable and professional binary options trading software these scam options platforms can cause you severe losses if used.
Below are the best Brokers to trade at:
#1 Cedar Finance
Cedar Finance is a great broker for beginner to PRO trader
- 24/7 account manager
- Very user friendly
- Big asset list to choose from
- Minimum deposit $200 / bonus up to 100%
EasyXP has LOTS of assets to trade on
- Up to 95% Profits in 1 hour
- Trade international assets
- Risk free trade at higher deposits
- Minimum deposit $200
OptionGround is used by some of the best traders
- 24/7 account manager
- High trade limit 15k
- Big asset list to choose from
- Minimum deposit $200 / bonus up to 100%
A binary options scam refers to a variety of negative features that either a trader or broker has experienced. A Binary options broker who provides bad quality software to its traders is referred to as a binary options scam. To avoid trading with a broker with bad software is to practice with their demo account before trading with them. Try to stay clear of Binary options brokers that do not offer demos, as the saying goes try before you buy. If you are still unsure if you’ve chosen Binary options broker is good then try making your first trade with small funds to start out.
To help you choose a reliable and professional online Binary options broker platform, you must enquire about the following features and requirements that all successful Binary options brokers posses.
Keep the following Binary options broker features in mind when choosing your Binary options broker platform.
Simple yet intuitive user interface: A simple and easy to use interface used by professional and reliable Binary options brokers saves a lot of time and headaches for traders. There is no need with Binary options brokers to waste time learning new features and controls in any program, as these programs are online based and no need to download or update any software to your PC. A good Binary options broker will have easy to use programs that you can use whenever and wherever you want. While selecting your Binary options broker online, you must observe that they have an interactive control and also that they are user friendly.
The Broker has the Ability for you to invest in multiple assets: For your investment purposes, reliable and professional Binary options trading software which offers a variety of assets should be in place for your investment purposes. As a trader, you should be able to invest in different market assets like, Forex, stocks and commodities. You must also pay attention to the programs allowing you to invest in all available assets for you to gain the maximum profits from your trades.
The expiry times available to you: Binary options brokers provide many expiry times, some offer weekly while others provide hourly, weekly, and end of day options to you the investor. The best way to gain maximum control on your trades, you should select a Binary options broker platform that provides maximum expiry periods for you.
Binary Options Brokers Maximum Payout Percentage: A professional and popular Binary options brokers will provide a maximum percentage payout to their investors. Your should try to look at Binary options broker platforms that can or will offer minimum 75%-90% payout for every winning investment, and for every unsuccessful trade they should also offer a minimum of 5%-10% returns on unsuccessful trades.
A Variety of Languages: Binary options brokers trading platform should also offer you the language in your mother tongue. There are many Binary options brokers who offer a variety of languages for example English, Spanish, Russian, Arabic etc. This language tool should also be available on customer support for your chosen language.
Brokers should offer Minimum initial deposits: There is no initial start up fees or deposits required to open an account with a chosen Binary options online Broker, the only money should be that of your first trade. Always look for those Binary options trading platforms that have free registrations and minimal deposits for your start up trades, and also look for good start up bonuses offered by many reputable Binary options brokers.
Payment variety options: Professional Binary options trading broker’s platforms should provide a variety of payment methods for you such as PayPal, bank transfers, credit cards etc. Try to find a Binary options broker offering you multiple forms of payment and withdrawal options that suit your trading needs.
Binary Options broker’s bonuses and offers: Some online Binary options brokers offer up to 25% start up bonuses to new comers and also other bonuses while trading with their platform. Try to find a Binary options brokers platform that can offer you higher bonuses than other online binary options platforms.
Online customer support: During trades you need to make sure you have high quality customer services and timely support. You must also make sure that your Binary options online broker platform also provides customer service in your mother tongue and that they offer multiple platforms such as e-mail, live chat and phone support.
To help with the above information we have added below some basic questions you should ask before selecting from a list of Binary options brokers.
- Where are they based and do they offer customer support during your local trading times?
- Does your Binary options broker platform allow deposits in your local currency?
- What are their payment methods and are they suitable for you.
- What type of returns do they offer on your trading assets?
- What type of tools do they offer besides the daily market updates?
The reason for the above questions is to simply shorten the huge list of Binary options brokers who cannot give you the answers you need. Unfortunately your search doesn’t end there whilst you have shortened your list with the above questions, you still need to find the right Binary options broker. Now you need to take a closer look at these Binary options brokers and we have added some factors for you below to keep in mind while you search.
Company Background: firstly you need to find out if the company is legitimate. Then you need to find out does your chosen Binary options broker have information on their company that you can read about.
Security of your funds: A licensed forex broker is required to maintain your funds in separate accounts; this is to ensure your funds security. The same is true for Binary options brokers as well. Knowing how your funds are dealt with helps you put your mind at ease about any doubts you may have.
Data Feeds: Try to get to know the source of their data feeds as this is an essential part of your trading. Many Binary options brokers display their financial instruments, ask and bid rates from various sources. The more creditable the source (for example Bloomberg and Reuters etc) the easier it is for you to trade with Binary options based on financial news and events.
Customer Support: You need to know what kind of customer support your Binary options broker offers, this is when you should put them to the test. Try using their online chat to ask questions, or via e-mail or phone, this way you will have a better understanding of how efficient their service is before you start trading with them. Your Binary options brokers customer support should be available to you 24/7 and their support staff should be ready to answer any and all your queries when ever you need them. They should be made available for you via websites live support while you are trading.
The above information is just to help you better choose your Binary options broker, and to narrow down your list in finding an appropriate Binary options broker for you. Try to communicate with your chosen Binary options broker as often as possible. They should be available to you at all times, as due to the competition between Binary options brokers they should offer as much support as possible to show their loyalty to you.
Finding the best Binary Options Broker that suits you
The most important thing you need in picking your Binary options broker of course is finding one you trust. The problem today is how new Binary options online is and this makes the Binary options trading sites new as well.
Having a Binary options broker you can trust is crucial due to the fact that they are the ones holding your money safely. As the Binary options trading is new, it is also good to find a Binary options broker who has a high volume of traffic, this shows the Binary options broker has been around for a while and because the more people who use the site the more reputable it will probably be.
Below are more things to consider when deciding on a Binary options broker:
Find a Binary options broker especially one with the highest return on the options you are trading.
Some Binary options brokers offer rebates on a losing trades to attract you and to also soften the blow of a loss when one occurs.
Find a Binary options broker who offers the type of Binary options trades you want to trade in short term, long term, along with trades offered.
Another way to help locating a Binary options broker is looking at who has the highest payout for the trades you wish to trade, for example 15 minutes or longer. Also you can try having accounts with more than one Binary options broker so you can see who gives you the best return on your winnings and refunds on your losses.
Make up a check list: With Binary options, you need to see how successful you are at predicting the outcome of your trades to be a long term winner. If you see you need to be right too many times to see a profit, you might think about finding a new Binary options broker who has better payouts to show you a better profit. It also could be that you need to change your chosen Binary options strategy as well. See if you can find an online Binary options broker who offers demo accounts that you can practice trading with fake money before spending your hard earned cash.
So the top three tips to finding the Binary options broker for you should be:
- Find a Binary options broker you can trust.
- Find a Binary options broker who offers good payout percentages.
- Find a Binary options broker who has the assets you prefer to trade in.
Just remember that you need to find a Binary options broker who can fulfill all the requirements for each and every one of your Binary options trades. Also it is ok to have more than one Binary options broker for different types of trades with different percentage payouts. You want to have the best payouts possible so make sure your chosen Binary options broker is doing this for you as well.
Choosing your Binary options broker is relatively easy, as long as you understand your requirements, as all traders have different styles and preferences to their trading with binary options. Just remember that if you wish to earn a profit from any financial markets and forex is not an option, then Binary options online trading is the one for you. The first step on this journey though is definitely choosing the right Binary options broker for you.
We hope you found the above information helpful in finding your Binary options Broker online, and hope you have a lot of success in all your trades.