Over the last few years there was an explosion of crazy amount of new binary option brokers appearing online. As a result, it became tremendously difficult to know which one to choose and who can really be defined as a Best Binary Options Brokers.
In this article, we will try to help you out with the main features you should be paying attention to before choosing a binary broker.
Where to Start From?
The first thing you should be checking obviously is the trading platform of your desired broker. Important to mention that more than 50% of the binary platform are using Spot Option platform, this is a crazy thing by itself. It basically means that more than half of the brokers are basically using the same platform!
The only thing that is really different from one binary option broker to another is solely the platform design. So when you choose your trading platform, check to see if you feel comfortable with a Spot option broker or perhaps you should try one of spot option competitors offered binary platform.
“Can I get a demo account?”
Such a simple question, but have no idea how much you can learn from it! The best Best Binary Options Brokers will always allow you to use a demo account for practicing purposes.
Whenever you get a shady answer for this question such as: “We do give demo account only for our real users”, or any other silly response, do yourself a favor and just move on to the next broker. Having a demo account with the broker you are considering investing with is a legit demand!
“I want to learn how to trade binary options, can you help?”
All the best binary options brokers usually have an extensive library of comprehensive platform manuals, training videos, strategy guides and other types of materials, which are of course highly essential for you if you wish to improve your binary options trading skills. Open an account with a binary broker that does not offer any of those is not a smart move.
Should I check for regulation before opening my account?
There is absolutely not even one justified reason why to trade with a non-regulated broker
In the binary options industry the only real way to ensure your fund are safe and secured, is to trade only with a regulated broker. All the best binary options brokers are fully regulated their activities are monitored by the competent local authority and that they are fully compliance with strict laws and regulations. To read more about Regulated Binary Options Brokers Click Here
Binary Options Brokers Deposit & Withdrawal Methods
Before making your first investment with a binary broker, you should be checking that it provides at least a few several different payment methods. You should also avoid being lazy and to make sure to read carefully all the necessary information on the broker Banking section regarding deposit and especially withdrawal time frames as well as fees and conditions regarding money transfers.
One of the most known issues among the binary option traders community is how hard is it sometimes to get your money back, moreover your profits.
One of the very best things you should check after making you deposit with a broker is to withdrawal your initial investment back and to see that everything is working as it should, that’s why it is highly recommended to start with a relatively small first investment, to avoid any unpleasant situations.
Binary Options Brokers Bonuses & Promotions
Long story short, do not take them! Many binary option broker will do all they can, especially their sales people, to force you to take their offered bonus upon deposit.
The main reason here is that once you took the bonus, your money is becoming tied in with the broker and the only way to take it out is to complete a certain trading volume.
Regarding the bonus trading volume, here is a tip: In most cases, the higher the volume you need to complete in order to get you money back, the more you should stay away from that broker. A positive sign for a legit binary option broker is that it won’t force you to claim bonus.
In case, you have still decided to take the offered bonus, know that it is essential to always read the Terms & Conditions as well as the Bonus policy sections on the broker’s website.
For Conclusion, do know that there are still a few best binary options brokers out there as well as many binary options scam brokers. So your mission before making your investment with a binary option broker is to double check that your future binary broker is indeed a trustworthy one.