Well, how to choose a binary options broker? Most of you, probably the experts traders might think it’s easy, well, this is defiantly not! Actually that question is most of the tough questions in the binary options industry, especially for beginners. In the past there were several binary options brokers that did not comply with regulatory requirements and were marked as a scam brokers, that’s not the situation today. So what are the differences between the brokers that make it hard decision for you?
Here is a summary of our rules:
Gorilla’s #1: EU regulation. EU regulation means safe environment of trading binary options or Forex, binary options broker who doesn’t match this rule immediately will be automatically ban and will mark as a scammer broker, then you’ll see the broker’s name at our scam brokers list.
Gorilla’s #2: Deposit. There are a lot of binary options brokers with a lot of bonuses to offer and it’s pretty cool thing and I’ll explain why in a moment, for example you decided to start and trade with amount of 200$ without any bonuses (and it’s pretty bad), the time to increase your capital at your balance will be enormous, when your aim to make it in a short term ,therefore we suggest you to take this bonus and deposit more than a 200$ at first and get the bonus. It means that you can generate much larger trading volume with your initial deposit and by that you get more practice and more potential to generate significant profits from your deposit, you should be aware that the bonus cannot be withdrawn at first.
Gorilla’s #3: Profits. The payout of a binary options broker is the actual profit potential from every trade you enter. Most binary options brokers have different payouts for different assets and different options types. The payout states what is the profit we take if we succeed in our trade in the form of a percentage value (80% for example). We should always consider the payout value when choosing a binary options broker and make sure we get the best payout condition for the assets we trade on.
Gorilla’s #4: Costumer Service. Binary options brokers must answer your questions regarding payments, withdrawals, platform functionality and technical problems. The ability to ask questions or get problems solved for you ASAP can make the difference between a good service experience and a bad one, therefore we’re considering this issue as a highly important at our ranking score.
Gorilla’s #5: Trading Platform. Your comfort trading with an unsophisticated platform is much required. In the binary options niche it is very important that the trading platform to be an user friendly as possible which means: buttons will be big and clear to make sure you can act fast and respond to the market’s movements, the graphs are accurate and easy to understand and of course as much more trading features as much better platform to be.
Gorilla’s #6: withdrawals. If from any reason you decide to withdraw some money from your trading account or you want to stop trading binary options you need to be confident that you get the money on time and the broker supports withdrawal method that satisfies you (bank transfer, credit card).
Thank you for reading our Lesson No.1, dealing with the most important question of how to choose a binary options broker. Please use it for your online trading success, in addition, you’re most welcome to read our Lesson No.2 dealing with our main goal as binary options traders about how to increase your income with binary options trading. If you’re a beginner you probably have a lot of question to ask, so, please feel free to contact us privately or leave a reply below, we will be happy to assist you as much as we can.
Visit our best brokers list and trade only with an EU regulated and trusted broker like TopOption! And if you are completely new to this business, start this journey with a FREE DEMO account before you “jump in the water” and invest money into a real trading account. In order to stay safe in our big industry and to know all about the new services, subscribe to our blog and join our Facebook group and you will be informed on a daily basis with the most relevant information. Cheers!