After some initial education and information we provide you with our top list of trusted binary brokers further down on this page.
Trading binary options has become “the rage” in the investment community. Newcomers and seasoned veterans alike are trying their hands at this genre, which offers simplicity of style with an immediate potential for a significant profit. The popularity of this medium, however, has one major drawback. Each week, a host of new brokers enter the scene, each hoping to gain your favor and your deposits. They are eager to win you over, but these circumstances are ripe for a rip off.
How do you protect yourself and choose a binary options broker that is reputable, capable, and secure, especially when it comes to your hard-earned capital? Internet brokers are quite often an “unseen business partner”, but essential if you want access to this new playing field. The problem is that your traditional brokers will more than likely not offer this specialized form of trading because the software is proprietary and the back-office operations is decidedly different than your typical brokerage, requiring a special set of skills.
How do you choose the best binary options broker? Here are ten easy steps to guide you in the process:
1) First impressions are important. Do you like the trading “dashboard”? Is it simple and straightforward? Does it have the information you need and want displayed where you can get at it?
2) Take a trial spin. Do not choose a broker that does not offer a free “demo” system that allows you to practice with “virtual” cash with real time situations;
3) Evaluate their Customer Support area. You can try out their online or chat room. See how long they take to field and handle your question. Are you satisfied with the rep’s answer and style?
4) Do they provide adequate instructional materials, tutorials, market commentary, and advice to ensure that you have a good experience?
5) The numbers are important. These brokers do not charge commissions, but the rate of payoff and rebate will impact your ability to be successful;
6) Search the Internet for reviews and independent testimonials. You may be surprised at what you find. Nearly all brokers have someone that did not like their service, but there are always two sides to a story. The overall weighting of good to bad is what makes a difference;
7) Check with other traders in the community to ascertain their experiences and recommendations. Independent professional advice can be your best source of honest appraisal data;
8) Lastly, does the broker in question appear on several review sites? In other words, are they bubbling to the top, so to speak? There are many websites that have already reviewed many of these brokers. Contact them and ask for recommendations;
9) Finally, it’s time to make a decision. Practice on the broker’s demo system, and when you feel comfortable, experiment with real time trading, but with small amounts first. Actual trading with real money is a very different experience than practice trading. It requires an adjustment, so be patient. Take whatever time it takes before raising your position amounts;
10) Never forget that you can always change brokers. Monitor his quality of service. How difficult is it to get a withdrawal? Are there hidden fees that no one disclosed up front? If you are not pleased, choose someone else and move your account. Life is too short, especially if your broker makes things difficult.
At Binarytradingworld.com, our professionals have already completed in depth reviews of a number of qualified binary options brokers in the industry. Apply your own form of “due diligence” on these selections, and you may find the broker of your dreams.
|Min. Deposit||Payouts||Markets Traded||Bonus / Specials||Allows US Traders|
|100$/€/£||85%||All||50% FTD Bonus up to $500||No|
|$100||85%||All||100% with $200+ deposit||No|
|$200||up to 85%||All||Limited time: 85% bonus up to $2,000||Yes|
This top list is our editors’ selection and recommendation of trusted binary options brokers after completing in depth reviews of more than 15 different brokers out there.