Choose the Best Binary Options Broker
Looking to jump into the exciting world of binary options? If the answer is yes, you will need a broker to help you get started. Find out how to choose the best binary options broker.
The fact that there are dozens, if not hundreds, of brokers available is both good and bad news. Good because you have a choice and bad because of the increased likelihood that you will end up dealing with a bad broker or an outright scam.
Here are the factors which should determine the broker you choose:
Choice of Assets
Among the trading options that should be offered by a top class broker include commodities (gold, oil), forex (euro/dollar, yen/franc) and indices (FTSE 100, Dow Jones).
You should be able to call or put on at least 50 different assets when it comes to binary options. Many binary options brokers allow you to trade on stocks such as Barclays and Microsoft and commodities such as gold and silver futures.
Other choices relate to the expiry dates of your trades. In general, brokers offer trades of one month, one week, one day and even one hour. 60 minute binary options are among the most exciting investment options on the market.
Tools / Education
The broker you choose should offer weekly and daily market analysis on their websites at the very least. This is an important tool because it helps you decipher some market riddles and hopefully help you make the right trading decision.
You should also look for additional tools. For example, Anyoption offers a Profit Line Trading tool to those who trade hourly binary options. This enables you to trade directly from charts which is a time saving, convenient measure.
All brokers should have a demo account which will allow you to practice trades for free. And, Most brokers will offer education on their website.
Payouts is the another most aspects to Choose the Best Binary Options Broker. The lowest payout offered by brokers is 50%. Out listed Best Binary Brokers usually offer industry leading payouts of up to 85%.
Moreover, Many binary options brokers offer refunds on losing trades up to 15%. Check the full list of binary options brokers for more details on each one.
It’s your money at stake so if you experience a problem when using a broker’s trading platform, you need to be able to get in touch with them as soon as possible.
If your account freezes or you accidentally make the wrong trade, the market will not wait for you to correct your error. The best online brokers have email, phone and instant chat options and will quickly solve your problems and answer any queries.
A sign of a suspect broker is the lack of withdrawal options. The best binary options brokers have a range of easy ways to withdraw your money available. Be sure to contact them in advance to fully understand how the withdrawal process works.
This should not be your main concern but it is always nice to get a little extra whenever possible. Many brokers offer a deposit bonus of at least 50% when you join. Read the terms and conditions carefully before applying.
Choose your broker wisely and refer to this list for more information on making the right choice for your binary options investment.