*Amount will be credited to account in case of successful investment
Top 4 Binary Brokers
It is crystal clear that selection of best binary options brokers is not simple – yet traders are free to leave one trading platform and choose another.
A trader is given freedom to open multiple accounts and continue binary trading with the best among them.
Read broker reviews thoroughly, including the range of options, assets, payouts, regulation, educational tools, trading signals, charts, demo accounts and many more to pass up the swindle trading sites.
In addition to these options, interested traders need to compare various brokers by getting the answer of following questions: which platform is safe, who offers wide range of assets, which broker is regulated etc.
Regulated Binary Options Brokers
Regulation is an important factor as it provides details of a specific regulator with which a broker is connected with. As far as UK brokers are concerned, FCA or Financial Conduct Authority has given the responsibility to regulate trading platforms.
For traders, residing in Europe, it is important to mention how there is a regulatory authority called CySEC (Cyprus Securities and Exchange Commission), which is responsible for monitoring business conduct of binary options brokers.
This regulatory body works according to strict rules, imposed by MiFID (Markets in Financial Instruments Directive).
European traders have on disposal to choose whether they want to trade with offshore brokers. Therefore, they can choose between numerous trade options and features. We recommend our readers to check broker reviews as they are relevant for successful binary options trading process.
In broker reviews, we test brokers’ platforms and provide accurate information about available features and services.
Practice Trading on Demo Account
To get familiar with a new world of binary trading, it is good to start practice with demo accounts. When investors decide to develop longer terms with brokers, they pay more attention on supportive services.
Through demo accounts, traders select different trading options, assets and expiry times as they are given 100% risk free trades. As a result, they evaluate various options and develop new strategies to win real trades.
The best trading platforms do not only provide demo accounts but also the effective learning tools as well. Trading videos, financial experts, e-books, flow charts, webinars and articles are offered so that customers can trade in a problem free environment.
Customized Binary Options Trading
Binary brokers prefer to include maximum trading assets based on commodities, currencies, stocks and indices to attract new traders worldwide.
Several expiration times ( 60 seconds, 15 min, 30 min, one hour, 24 hours, one week) and trading options (One Touch, 60 Seconds, Pairs, Digital and Boundary option) help to tailor the trade according to available time and experience level.
Minimum Deposit & Investment
Investors, who have decided to get involved with binary trading platforms, initial deposit can be foremost area of interest for them. Most of them desire to find a reliable platform to experiment with an undersized amount.
It is the reason, minimum deposit attract such traders. All brokers offer some trade requirements as well. The trading conditions vary from broker to broker. Minimum investment starts from $1 and goes up to $25. No doubt, it is a significant difference and effect on the decision of traders.
Payouts Options in Binaries
To find the best binary brokers, traders need to pay attention on another key element, known as Payout percentage. The ratio of payouts increases or decreases on the basis of selected assets.
Interested traders hope to get the highest payouts to increase the amount of secondary income. At this point, demo accounts help in getting an idea of payout ratio.
Available Payment Methods
Obviously, traders need to deposit and withdraw funds. For this purpose, selection of such a platform is obligatory where guarantee is given for safe payment process. SSL secured trading sites are the best because these do not disclose the sensitive information of registered traders.
In addition to safety of funds, short withdrawal time and variety of payment methods matter a lot. Credit Card, MasterCard, Bank Wire, Skrill, iDeal, Carte Bleue, Diners Club, Amex and Maestro are the commonly used payment options.
Customer Support Service
User-friendly as well as responsive customer service can help a lot. Always choose a binary broker that allows its customers to keep in touch through multiple options (live chat, phone, email) and in multiple languages.
Binary Options Scams
Unfortunately, not all binary brokers are good and reliable. Even though they promise excellent trading experience, some brokers are a scam in disguise. Such brokers cause great losses to their traders, and the entire industry as the reputation of the good broker is being ruined.
Binary Options Scams Can Cost You Money
There are many reasons why traders deposit with scam binary brokers. The most obvious one is pure lack of knowledge. For example, traders can skip the important part of research that includes reading binary broker reviews and simply deposits with the first broker that comes around. Also, sometimes binary scams have such great design and approach that they look like legit brokers, and can easily deceive even the most advanced traders. One of the best ways to avoid scams is to approach the process of selecting the broker seriously and read as many objective reviews as possible.
Also, not all scams operate in the same way. For this reason, it is hard to list all characteristics that make broker a scam. Some of the most common scam tactics will be explained in the paragraphs that follow.
Binary Scam Practices
One of the most common ways that scams lure traders is downplaying of risks. Customer support agents and managers simply try to convince the trader how their money is not exposed to any risk at all. It almost seems as if the profit is guaranteed. However, this is not true. Every time you trade in financial markets, you expose your money to the risk. While there are some methods that can lower the risk exposure, it will still be there.
Also, scam brokers often manipulate trader’s money. For example, they can add unauthorized bonuses and prevent the trader from withdrawing the money. Also, ‘specialists’, ‘managers’ and other employees that claim to know what they are doing, can easily convince trader to trade for them or even place unauthorized trades. Traders should remember that they must have the final word when it comes to letting someone else managing their money and their trading account.
Sometimes scam brokers bother traders and force them to deposit more and more and more. Scams can never get enough! Also, they tend to reach out to traders who are not even their clients by using their private data that has been stolen from various resources. Avoid brokers that contact you out of the blue, and stick to reputable brands.
Some of the brokers that we consider not worthy of our recommendation (or brokers that simply shut down or don’t offer binary trading at the moment) are 24option, Anyoption, Banc De Binary, BetOnFinance, BinaryCM, BinaryOnline, BinaryTilt, Bloombex Options, BullBinary, Core Liquidity Markets, ETX Capital, Finpari, HY Options, Opteck, Option.FM, PlusOption, Porter Finance, PrestigeOption, Rbinary, Skyline Markets, Stern Options, StockPair, TopOption, Tradorax, Daweda Exchange .