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Choosing A Binary Options Broker?
Alex

LEVEL 10 : SENIOR

REVIEWS 9 | REPLIES 84

#1508

Alex

August 26, 2015 at 1:11 pm

Things To Consider Before Choosing A Broker

As a binary options trader we always look to earn as much as possible, squeezing every extra % Return-On-Investment we can get our hands on. While getting your trade to expiry in-the-money is not hard enough, it is only one of the first step before we can start withdrawing profits. This is where the importance of having a seasoned, yet reliable binary options broker comes into play. Doing some extensive due-diligence before even thinking of depositing a single cent with your chosen broker will be much appreciated at the end of the day. Failing to do so might just separate you from your hard earned money for good, leaving you with your hands in your hair. Choose wisely…

If you fall into the conservative group of traders’ that want to earn more from trading, this “how to choose a binary options broker” guide is for you. A legitimate options broker will make a huge difference when it comes to a trader’s overall trading experience. This is not only limited to percentage payouts and withdrawals, but also spreads and customer support. It is important to note that no broker is perfect in all of the latter mentioned categories, at least not at present. This does not mean we won’t see a so called “perfect” broker in the near future. It will only take one broker to take the first step, and the rest will have no choice but to follow, or risk losing their client base.

What Is A Seasoned Broker

When we refer to seasoned broker, we are referring to a few critical points that need to be met.

  • Powered By Credible Broker Platform Technology
  • Time Period Since Launch
  • Regulation Entity
  • Positive Website Reviews
  • Positive User Feedback

This might seem like a lot of research and time spent, but all this info can be obtained within a few minutes. Consider it time well spent.

Better Safe Than Sorry

There is no shortcut when it comes to doing your homework on a specific broker. Although we are far away from seeing a perfect broker, there is still hope. In the meantime we will have to make the best of what we have. Choosing the wrong binary options broker can be just as easy as choosing the right one. Although this might sound somewhat confusing, we need to keep in mind that we are presented with some of the best marketing tactics.

“Question everything. Learn something. Answer nothing.”

Don’t get trapped into a fake reality. Always be open minded. It might just save you a lot of headaches along the line.

Josh Vega

LEVEL 2 : NOVICE

REVIEWS 7 | REPLIES 5

#1551

JoshVega

August 27, 2015 at 10:48 am

Hi Alex

I would like to express my opinion if it’s ok with you. Regarding the time since launch. It dosn’t always mean that when a binary options broker has been in the game for a long period that they can be trusted. Take 24Option as an example.

Nickolas Witt

LEVEL 2 : NOVICE

REVIEWS 7 | REPLIES 4

#1553

tradingmachine

August 27, 2015 at 10:53 am

Josh, that is an excellent point you make buddy. I think sometimes when these brokers are in the game for longer periods they start learning new tricks on how to fool us traders.

Keep safe out there

Yaeko Joyce

LEVEL 2 : NOVICE

REVIEWS 7 | REPLIES 4

#1555

Yaeko1966

August 27, 2015 at 11:04 am

It’s better to never trust any broker, that way you won’t be as dissappointed. Here is what I do when choosing a new broker:

I check user reviews, regulation and all that stuff. When I have enough information, I will start trading with their demo account and see how their trade execution times are, monitor spreads etc. Once I feel I’m happy I will start with their minimum deposit to trade live. If I see things stay the same as they were I will see how quick their withdrawal times are. ONly then, I will consider to add them as a broker. The moment I realize they start playing games with me, I move on and start the same process over.

NB! Always have more than 1 binary options broker that you use…

LEVEL 1 : NEWBIE

REVIEWS 0 | REPLIES 1

#2178

Ophelia

September 24, 2015 at 1:56 pm

I agree with the previous comment. You should learn everything about the broker before you deposit your account.

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