Key Factors In Choosing A Binary Options Broker

Key Factors In Choosing A Binary Options Broker

Binary options have become a common way of investment in the past years, gaining increased popularity together with legal recognition and legalization. Trading is done by trading platforms which are offered by binary options brokers. The broker’s job is to connect between the buyer and the seller and ensure that all account requirements are dealt in a professional manner. The broker is also in charge of various aspects of your account including; deposits, bonuses, withdrawals and customer care.

The blooming industry now offers hundreds of different brokers, how does one choose a broker? It is always important to compare several broker prior to opening an account. The next guide will present the most important factors in choosing a broker.

Variety of Tradable Assets 

Many traders are so eager to start trading that they forget to check this important parameter. A trader usually has some financial assets which are at his interest, checking that the broker offers your desired assets is one of the first things to do. Different broker offer different assets, common assets are in reach in most of the platforms.

Minimum Deposit Amount 

A minimum deposit amount requirement is standard and ranges between $100 -$250. This amount is normal and logical, any abnormal amount especially no minimum deposit amount should raise a red flag and should demand a closer check before trading.

Payment Methods 

Although this parameter seems trivial, it is important to check that your broker offers a wide variety of payment methods. This indicates that other financial companies have recognized his business as a legitimate one. Common payment methods are; bank transfer, several Credit Card companies, Skrillmoneybookers, Neteller, PayPal and other e-wallet solutions.

Welcome Bonus

Most reliable brokers will offer traders a generous welcome bonus, the bonus is deposited directly to your account and can only be used for trading on the specific platform. Although bonuses are a great marketing tools, traders should pay attention to the terms of use when trading with bonus money.

Risk Free Trades

This feature is offered by professional brokers who understand that the first few trades are crucial for a trader’s survival and will most likely determine whether he will become a veteran trader or will stay out of the game or will not enter the arena. Offering risk free trades allows the client to experience the platform without taking any risk. It’s a great way to explore and understand the trading zone with the opportunity of taking home your profits.

Another important factor in choosing your broker is the availability of different educational tools;

Demo account – the ability to explore the platform on demo mode allows traders to get to know the different types of options and different features on the trading area prior to risking any money.

Tutorial – this can include an online course, video on demand, e-book and more

A reliable broker will also offer updated financial news, online support and assistance and in some cases a personal broker.

All that left is to choose you preferred broker at

About the author Mike Evans:

With nearly two decades of experience trading stocks and currencies, Mike is the owner of a profound understanding of economy fundamentals and impact of global events on capital markets. Connect with Mike on Google+