Picking a binary options trading platform
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? 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:. Is it simple and straightforward?
Does it have the information you need and want displayed where you can get at it? You can try out their online or chat room. See how long they take to field and handle your question. These brokers do not charge commissions, but the rate of payoff and rebate will impact your ability to be successful;.
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;. Independent professional advice can be your best source of honest appraisal data;. 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;. 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;. 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. One of the most popular trading vehicles to come along in quite a while has been Binary Options. Newcomers can now trade currencies, commodities, indexes, and some of the most heavily traded stocks from across the globe without the hassle of margin calls, stop loss orders, leverage, downside risks, or even complicated rules for prudent money management.
This is why we at BinaryTradingWorld. Our mission is to give you everything you need to start trading binary in a highly successful way!
Traditional brokers, unfortunately, do not routinely offer Binary Options. The proprietary trading platform is one reason, but the problem for investors is how do you find a capable and reputable Binary Options broker in such a new industry? Binary Option Robot now has a mobile app available. The mobile app is a great addition to the most popular binary options trading robot, making it even more user friendly. Binary Option Robot has a great customer service team. If you need help with something, you can call or chat with them online.
Online chat is fast and efficient if you need assistance, but you can use phone or email, too. Each person will have different needs when it comes to a broker.
Next, find a place that caters to traders in your area , meets all of your requirements, and has high rates of return. This will give you a basic framework for starting your search. Avoid sites that are gimmicky or have unfavorable conditions for their traders. These might not be outright scams , but they are certainly not there to help you make money.
Make sure you read about our blacklisted brokers. Your capital is at risk. Start with the tools you have readily available. Some places have signals services , some have demo trading, and the vast majority of them have educational resources. Some even have trading advisors and managers to help you get your trading to the next level.
Getting a little extra help, either by increasing your knowledge, getting extra money, or just having a better rate of return will all help you keep increasing the size of your account. IQOption is one of the newer binary options brokers out there right now, but they have a lot of different features to offer clients.
They offer more than 75 different assets, and a variety of different ways to trade them. They have the traditional call and put options , ranging down to 60 seconds before expiry. Because this broker is located in Europe, they have a heavy focus on European stocks and indices, but they also have a handful of the major assets that are based out of other regions in the world.
Be sure to get a strong feel of the platform to help avoid potential trade mistakes. This only makes sense whether you use the demo or not. If you have any questions, you can always contact their customer service department. As you grow as a trader you will realize how well the platform performs.
Also, by learning all the right ways to deposit and withdrawal money will help when it comes down to it. Getting all the important documents to them early will help make it a lot easier when it comes to taking money out. However, outside of Europe, IQOption is not considered a regulated broker. Nadex is one of the only CFTC regulated exchanges offering binary options. This broker is based out of Chicago, Illinois, and they are one of the standard bearers in the world of binary options trading.
Founded in , and then rebranded in under their current name, Nadex is the go-to choice for binary traders based in the U. You can use a debit card, bank transfer, paper check, or wire transfer to make your deposit.
Withdrawals are processed in the same way, except they do not currently allow debit card withdrawals. Nadex offers free and unlimited use of their demo account. Most brokers limit the time that you are allowed to demo trade to about 3 days, but Nadex has a much stronger focus on the success of their traders. They want traders to succeed because when their traders succeed, they are also successful.
Are you interested in mobile trading? Read our Nadex Review. They offer for both iPhones and Android devices.