Tips for choosing a binary options broker

The binary options industry has rapidly expanded over the years the result being that there are numerous brokers offering their services. While this is not necessarily a cause for concern, what is the fact that brokers (not all of them) promise their clients rapid gains and good trading conditions. As you can imagine, persons that promise high returns do not live up to their promise and while binary options trading can be rewarding, what mostly happens is that traders, especially beginners, lose their investment. Therefore, it is necessary to have your facts straight when you make the decision of trading with one broker or the other. Fortunately, websites that offer reviews on famous brokerage firms, such as Banc de Binary, also help you with the decision making process by offering recommendations. Reading online reviews and educating yourself are just some examples of things you can do in order to avoid fraudulent activity. So what should you pay special attention to?

Regulation

You should never open a trading account with a broker that is not regulated. When you start doing your research, skim the reviews for information on the legitimacy of the broker. Having a broker that is regulated provides you with assurance that your funds are in safe hands because the financial expert is required to respect a certain framework. In addition to this, the brokerage firm will definitely have qualified staff and a certain capital requirement that will be used in the case of settlements. Even if this does guarantee you that your funds are safe from financial risks, at least you have some kind of peace of mind. Regulated binary options brokers are usually located in Cyprus, the most striking example being Banc de Binary.

Assets that you can trade

The fact is that brokers offer different tradable assets, but the best broker will offer you the possibility to make exchanges with a wide geographical widespread. This means that if you are living in the Middle East, then you are able to execute trades on an exchange platform like Tadawul. You should also make sure that the broker has the assets you are interested in, which means commodities or stocks. All firms will list an asset index on their web page or this can be included in a review of the firm, so finding this kind of information is not complicated.

Learning tools  

Taking into consideration that binary options education is very important, the broker should provide you with learning tools. Therefore, you will need to find out if the company you are considering can offer you a demo account. A demo account will allow you to to trade using visual funds and these accounts are interesting in the sense that they allow you to develop your trading skills and to see how the platform works. Even if a demo account is not an absolute must, this requirement should still be on top of your list of criteria.

Trading platform

Although there are many trading platforms on the market, binary options platforms are generally web-based. Some of them represent white labels, while others even have the logo placed on the platform. The classic UP/DOWN platform lets you choose the market movement, the One-Touch platform requires you to decide whether the asset reaches the set expiry time and the list goes on.