Knowing the fact that there are many binary options trading strategies that help traders of different levels to increase their income, we forget about such not less important criterion as – a trusted broker. In fact, when it comes to the binary options trading this is one of the most significant key points to consider as there exists hundreds of brokers yet not all of them are trusted, legitimate, respected, licensed etc.
So, here are a few simple rules to follow to select the best binary options broker on the market today.
Is the Broker Legitimate?
Remember, only 1 out of 10 brokers is a trusted one and worth cooperating with. The first and foremost point to check is the legitimacy. For that you can simply ask to see the license which will prove that this particular broker is regulated by jurisdictions and has a complete right to offer financial services to people worldwide.
What about Location?
There are countries where binary option trading is regulated and there are countries where the government or state is indifferent to it.
Countries, where binary options trading is 100% allowed and legitimate are the US, the UK, Malta, Cyprus, all European Union countries etc. Yet not being a citizen of any of the above-mentioned countries doesn’t mean that you can’t trade in your mother land. All you need to do is just to find a broker who has a license that is possible to receive at Cyprus Securities and Exchange Commission, Financial Conduct Authority.
How Wide is the Range of Assets?
A good broker will always offer you maximum number of assets. Everything is simple in this point – the more assets, the better for your trading as there are assets that are easier to predict on. Moreover, depending on a trader’s level, it is also important to opt for the right assets. Being a beginner – start with simple assets and with the time and gained experience move on to harder ones.
How Much is the Payout?
Depending on the type of assets, the payout percentage varies too. For instance, dealing with high/low options – 80%-90%, whereas trading one-touch or boundary options it is possible to get from 400% -to 600%. In this situation the choice is always after a trader.
When is the Time For Withdrawal?
Withdrawing the money is a pleasant process yet not always brokers do that or eager to do that. In order not to lose the earned money, read forums, feedbacks and reviews about the chosen broker at Forexpeace Army or FXempire and BinaryOptions.