Binary Options – How To Choose The Right Broker
Binary options are becoming a more and more popular and accessible tool for exchange trading for private investors. However, most beginners with no experience or professional expertise make a lot of mistakes which are critical to their trading results. One of the main causes of loss of capital in binary trading is the choice of a brokerage platform which is unsafe and professionally unfit for effective trading. In this article we will offer a list of recommendations which will allow you to choose the optimum platform, based on its trading conditions and technical tools, for consistently profitable results with binary options.
So, let’s first understand the need for a broker for the implementation of trading processes and profiting. The presence of a mediator for working with options is necessary due to the legal conditions on the market which are set by regulators. Only having the status of a legal entity and a market regulator’s license allows you to directly enter into transactions with binary options. For this reason, the online investor needs a broker to register transactions on the binary market on their behalf.
When choosing a brokerage company many investors rarely pay attention to the complete list of the company’s working conditions or their technical capabilities. This eventually leads to negative results. In addition, the choice of an unsafe and non-professional trading platform can lead to collaboration with scammers who simply do not give you the opportunity to earn money and eventually take possession of your funds. For these purposes, there exist many schemes and technical approaches – from quote fraud to the outright theft of your investment. Against this backdrop, we recommend working with the resources of systemic, licensed companies, which occupy a fairly large segment of this financial services market.
The safety and professionalism of the broker can be determined in a number of ways – by using company ratings on special informational services or by making your own conclusions based on analysis of the broker’s activities and its professional services and tools. The latter method is the most effective and allows investors to determine the best possible operating conditions for binary trading instruments for themselves.
How is a professional broker different ?
On this issue, we offer a list of conditions and technical parameters for brokerage companies that are the hallmark of a secure platform with professional trading services for binary trading:
- A license from the national regulator of the trader’s country of residence
- A professional terminal, preferably a proprietary design, on which a variety of technical analysis tools and a wide range of support services are available
- A demo account – a quality training simulator available only on professional platforms
- Free training
- Quality analytics
- The minimum trading conditions
- A wide range of marketing related offers – bonuses
- Positive feedback from traders
As an example of a secure platform with a list of professional services that contribute to obtaining good results, we can offer the platform for online trading from the European Binomo broker, where investors can take advantage of the following range of services:
- A license from the Russian financial market regulator FMRRC
- The broker’s trading terminal is equipped with an indicator and chart set of analysis tools, gives access to a wide range of assets, and offers options yields of up to 90% and the maximum number of additional technical tools
- A demo account on the main trading platform for training in real market conditions
- A system of free training based on progressive approaches
- Daily professional analytics
- The widest possible range of bonus offers – for account replenishment, recurrent promotions, and professional tournaments with big prize pools
- The minimum trading conditions – a trading account starts at $10, the amount of the minimum bet is $1
- The bulk of traders’ reviews are positive which gives the broker a good reputation
Taking into account the list of indicators for the company, the existence of a regulator’s license, as well as the availability of professional technical tools on the broker’s trading platform, this platform for binary trading is safe and effective for use on the binary market.
By choosing the right broker, you will be able to maximize your potential on the matter of consistently high earnings and save yourself from the unpleasant consequences of working with fraudsters.