Binary Options Brokers
|Min Trade: $24
Max Trade: $100,000
|Min Trade: $25
Max Trade: $5000
|Min Trade: $10
Max Trade: $5000
|Min Trade: $25
Max Trade: $2000
Key Points to Consider
Choosing a broker to trade with is one of the most important decisions you will make when starting out trading with Binary options. The following guide will help you to make the decision as to the best broker to use for your trading.
Getting started with binary options is simple. These is actually very little that you need to start trading other than an account with a broker. Most of the financial information that you will find can be found freely on line on sites such as Yahoo or Google finance.
There are also a number of free chart providers. These are needed to allow you to analyse price movements. A quick search will bring up a wide range of results which you can investigate to help you with your trading.
On the surface, selecting a broker also appears to be easy. There are a great man in this arena, all vying for your business. However while brokers tend to look similar on the surface it pays to carry out some due diligence when it comes to picking out one to trade with. Your choice of binary options brokers for trading can have a profound influence on the level of performance that you attain when trading.
The following guide highlights the points you need to consider when selecting your broker and will help to ensure that you end up with the broker that best suits your needs. This will help you to reap the most of the advantages of binary options trading.
This is the number one most important point to consider when picking your broker. Most binary options brokers in the UK and major financial regions have now made the move to get regulated. This provides financial security for deposited client funds and ensures that the broker runs its business in accordance with a defined set of operational standards.
The exception to trading with a regulated binary options broker is the case of US citizens. To get around tight US regulation relating to binary options, brokers who accept US clients are not able to become regulated. We include our pick for US clients in our comparison table above.
One of the most obvious differences between each company is the payout return. This is the amount that you receive for an ‘in the money’ contract’. This should rank highly on your list when it comes to making your choice. A higher return across the contracts that you place will equal greater monetary profits on your account.
Brokers are increasingly offering ‘rebates’ on many of the contracts that they offer. This the amount you will ‘rebated’ on contracts if they end ‘out of the money.’ While these can help to soften the blow of a loss, contracts with high rebate levels will offer lower returns on a successful expiry.
Trading Assets Offered
It is of course important that if you are intending to trade certain assets as part of your strategy that your broker offers these. Also check that the contract time frame that you are intending to trade is available on the assets that you are looking to trade. To find the range of assets offered by a broker check their ‘asset index.’ It is also important that you check that the specific contracts that you want to trade are available on these assets. For example, some brokers may not offer ’60 second’ trading contracts on all assets that they have listed in their asset index.
Binary Options Brokers Bonuses
Most companies will offer you an initial deposit bonus when you first sign up as a new trader. This is often used as a determining factor by new traders as to the company to open their account with.
The deposit bonus from your binary options broker is a great way in which to give your funds a boost when you first start trading. However you need to check out any term and conditions which are attached to the acceptance of this bonus. You can alternatively spare yourself any hassles down the line and decline any bonus when opening your account.
DEPOSIT AND WITHDRAWALS
Getting money into and out of your account is a basic requirement. Brokers support most common payment methods for deposits and withdrawals including credit/debit card and bank transfers. Increasingly many are also supporting alternative deposit options including Skrill, PayPal and UKash.
It is also important to familiarize yourself with any specific withdrawal terms and conditions. Processing times for withdrawals will range from 3- 7 working days, depending on the method used. Also be aware of any charges that you may incur for processing your request. Most brokers will process one request per calendar month for free.