Choose a Binary Options Broker

June 21, 2013 6:21 am

choose_binary_options_brokerMany individuals are currently looking for alternative to regain their money which was lost during the financial crisis. One really good way to do so is the binary options trading. However, you have to know that this might sound easy, but it’s actually not.

There is no correct or identical answer when it comes to trading. Almost every person will tell you different things and sooner or later you will realize that you have to master lots of things if you want to be successful.

The binary option trading offers the traders one unique chance – a chance to predict the price of the asset, and in case you are right – to win. Plus there is no big surprise when it comes to binary options so if you trade carefully you can’t generate huge losses.

Now that you already realized that you can gain good money via binary options trading, you would probably want to know how does it work and how to get started. Well, just like any other type of trading, you will have to perform a research and take a look at all brokers out there and pick the one that will meet your needs.

Here is a list of some features and characteristics that you should pay attention to:

Web-Based Platform

Starting with the platform, it is probably one of the most important things you have to take a look at. Make sure that the one you have chosen is intuitive and meets all your needs. In most cases the trading platform will be online based which is a good thing in terms of accessibility simply because you will not have to download it on every computer you use. So this might be considered as great advantage – make sure that the broker you have chosen has a web-based platform – it will make things easy!

Best Options Brokers for 2012

Minimal 65% to 70% Returns

The binary options work in the following way – the trader (you) makes a prediction about the supposed direction of the prices at the date of expiry. Then, if this prediction is correct, you will make a good profit. However, all numbers depend on the broker you have chosen. Make sure you look for returns of at least 70%. Said in numbers, if you make a Call Option and place 100$, then you predict the proper direction of the price, you will get 170$ (70% returns).

Payback on Out of Money

Always stay focused while trading with binary options because even the smallest mistake can lead to huge losses. And as you know, everything might happen. Thus, it is recommended to look for a platform that offers payback on Out of Money. This means that in case you lose your money you will be refunded, and in most cases that will be 15% of the total amount in your account.

Multiple Currencies


Another great thing that might make you redirect your attention toward binary options trading is the fact that there are many markets such as commodities or Forex which offer minimal risk. All this combined with the flexibility of the binary options market take this type of trading to a whole new level. Probably you would like to give a try to the forex trading. In such case you have to choose broker that offers as many currency pairs as possible. If you find one, don’t hesitate to give it a try. Binary platform that supports low to zero number of currency pairs is not a good platform and you should not start with such.

Security

When it comes to security, no compromises should be made at all. Always check the security level of the platform before signing up. Make sure that the platform you have chosen has 128 bit SSL encryption supported by leading provider of security solutions. This is a clear indication that the platform is reliable.

As a conclusion we should say that all those binary options platforms have many features and characteristics in common, but there are lots of unique services in each one of them. This is why you have to be careful while picking the one that you intend to trade on.

Where to Trade

BinaryTribune is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action, Binary Options and Social Trading.

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