Binary Options Brokers
Choosing a Broker for Trading Binary Options
The next important thing when trading binary options is to choose the right option broker. There are many scam binary options trading site on the Internet and it is important to separate the genuine ones from the fakes.
So How Do You Select a Binary Option Broker?
When choosing a binary option broker, a trader needs to look at several things. First and foremost is the issue of regulation. It is very important to find out that the binary option broker you are trading with is regulated as this will ensure the safety of your funds.
Once, you are satisfied about the regulatory issue then the next thing to look for is customer service. Genuine binary option brokers have a dedicated customer service department. The customer services department should be able to provide timely solutions to traders’ problems. Several option brokers offer live chat services and this can be very useful.
The next thing to look for is the range of trade types. The best option brokers offer all three trade types i.e. High/Low, In/Out, and Touch/No Touch. However, some binary option brokers offer two trade types, while some offer just one. Always choose an option broker that offers full range of trade types or at least two trade types. Also, make sure that the option broker is not placing any kind of limitations on trading, which can make generating a profit difficult.
The next thing to look for when choosing an option broker is the trading software. Always choose option brokers that offer trading software, which are user friendly. If the trading platform you are using is difficult to understand and you are having problems navigating around, then it will difficult for you to trade. Generally complex trading platforms lead to failed trades. Therefore always avoid them and use trading platforms that are user friendly and easy to navigate. These days, brokers are also offering mobile versions of their trading platform, given that more and more people are now using smartphones and tablets. Mobile version of trading platforms means that you can trade from anywhere and at any time.
Perhaps the most important thing after regulation is payouts. Payouts for binary options can be different. Some option brokers offer payout of as much as 80% per trade. Always choose an option broker that offers the best payouts and are regulated.
List of Binary Option Brokers
Here is a list of some binary option brokers and what they offer.
24Option is available 24×7 and offers a user friendly trading platform. The minimum deposit one can make on 24Option is $200, thus it is an excellent option if you have limited capital or are a beginner and want to learn trading binary options.
24Option offers trading education. The website includes Glossary, Trader Manual and other features that may be particularly useful for beginners.
24Option also offers a mobile platform. The broker offers all three types of binary option trades. The payout on 24Option can be as high as 89%, which is one of the highest for the binary options market.
GTOptions has one of the most user friendly trading platforms and is perfect if you are a beginner. The broker began offering services in 2011.
The website offers live news feeds, Glossary, Daily Market Reviews and Weekly Market Reviews among other things. For in-the-money options, GTOptions offers payout ratio as high as 95%.
Cedar Finance is one of the most highly regard option brokers. Traders can open an account on Cedar Finance for as little as $200. Account can be opened in either the U.S. dollar, the euro or the British pound.
The broker offers a diverse selection of assets. Some of the assets include Euro/US dollar, Euro/Japanese, gold, oil, NASDAQ, S&P Future.
Payouts can be as high as 81% on Cedar Finance.
One of the new entrants in the binary option market, Finopex offers an impressive trading platform. Traders can open an account on Finopex for as little as $200.
Finopex offers a diverse selection of assets. Some of the stocks available through Finopex Review include Google Inc. (NASDAQ: GOOG), Apple Inc. (NASDAQ: AAPL) and Microsoft Corp. (NASDAQ: MSFT). Finopex Review also offers commodities such as Wheat, Coffee, Sugar, Gold and Silver.
Payout on Finopex can be as high as 81%.
EasyXP Review is known to provide excellent customer service. The trading platform offered by EasyXP Review is one of the best. The broker offers some of the best incentives in the market.
Trades can open an account for as little as $200. EasyXP even offers 60-second binary options. Thus traders can make quick profits. Account can be opened in US dollar, Euro and the Great British pound.
Banc de Binary
BBinary.com is the binary option brokerage service offered by Banc de Binary Group. Banc de Binary is based in New York but regulated by the Cyprus Securities and Exchange Commission. Banc de Binary is registered with the Financial Services Authority in the U.K.
Accounts on BBinary.com can be opened for a minimum deposit of $250. Payouts on BBinary.com can be as high as 88%. Expiration times on contract can be as low as 15 minutes.
AnyOption is also regulated by the Cyprus Securities and Exchange Commission (SEC). Accounts can be opened for a minimum deposit of $500. Payouts on AnyOption can be up to 71%.