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Tips For Choosing A Binary Options Broker
The Importance of a Broker
One of the most important things to be considered before someone becomes a binary options trader is to find a reputable Binary Options broker. The broker is the bridge to your investment and the market itself. If you want to gain profits, you should make sure that you are dealing with the right broker. Good strategies can be a big help in your trading activities, but you should have assurance with your account as well so that you will not have future conflicts in your payouts.
Here are some tips that I believe a trader should have in mind before joining any broker in the market.
Factors to be Considered
There are various factors that a trader needs to consider before making the final decision in choosing the right broker. Some of those factors are the broker’s regulations, their terms and conditions, the company capitalization, incentives and bonuses they offer, their trading platforms and their customer assistance.
When dealing with a business partner, you should give yourself an assurance that it is safe and legal before you hand in your investment. Checking to make sure that a Binary Options broker is regulated can be a complicated issue. But having a financial regulatory system governing the operation of a broker should always be considered. In the United States (US), there are regulatory organizations like the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC) . In the United Kingdom (UK), they have the Financial Services Authority (FSA). The broker’s regulation will also depend on their location. Traders should research their prospect broker beforehand and check if they are regulated. On the other hand, regulated or not, the success of the trading activities does not rely on that factor alone and it only gives you assurance that you are dealing with legal business entities.
Broker’s Terms and Conditions
A business should always start with contracts or in other words, terms and conditions between an investor and the company. Traders should always read (the small print) about the policies of the company they are joining. Starting with answering questions like, how much is the minimum investment and how easy it is to withdraw their investment if ever they want to? Brokers offer different minimum deposits that ranges from $100-$250 and they also incur withdrawal fees and have processing days, all of which may take time as well. It is also important to know what mode of payment or banking options the broker accepts. Before you jump into your investments, make sure you understand every detail of their terms and conditions so that you will not blame everything on your broker in the end due to your own negligence.
The Company Capitalization
The market capitalization of a broker acts as its backbone. It will give you confidence that they have enough money to sustain the business, and your money will be returned in case of a bad business scenario such as bankruptcy.
Incentives and Bonuses
Given that you already surveyed a lot of well promoted brokers and they have a lot of similar features, something to check is what incentives and bonuses they can offer you if you decided to invest with them. Brokers oftentimes will offer you a free demo account to let you try their trading features, but you should not respond to it instantly. Be aware as some of them have hidden charges, and it does not mean it’s free at the end. Some brokers will also offer 100%-200% bonuses that depend on your deposits. They will also offer access to trading webinars, and account managers that will trade on your behalf. One should always make sure you understand the rules of these benefits before you get too delighted by the offers.
A good broker should have a flexible platform for a trader. There are two basic types of platforms, web-based or non-web-based. A web-based platform lets a trader invest anywhere and anytime they want and in fact, mobile applications are now offered by some brokers to let their investor trade using their smartphones. Non-web-based platforms require software that needs to be downloaded to a desktop, and a trader can only trade using that specific desktop. The platform should have detailed and specific information any trader will need to have. Find one that works best for you.
Asking for help will always be a hard task especially in business, but if a broker has a 24/7 customer assistance, it will be a plus on their part. Approachable customer service representatives can make a trader’s life easier because they can ask any question regarding their trading activities anytime. Live chats, phone calls or video tutorials are positive features of good customer assistance. Some well-known brokers also offer their account managers to personally assist traders with their strategies and techniques. There are also trading academies for clients and powerful tools to guide them. Language translations from their support staff could be a great help as well.
If you truly value your money, you should choose a broker carefully. The facts and false information can be seen everywhere on the internet, so make sure that you will not be blinded by the good or the negative comments of competing brokers. Be vigilant enough to look for resources that know the truth about them. Every broker has their own disadvantage, but doing your homework will allow you to find a broker that will work for you and your money.
Binary options are an exciting trading option, but don’t get too excited to invest a lot of money right away. Try to open a demo account first and work with the customer service representatives to learn the pros and cons of the broker. Taking things slowly will surely help you avoid losing too much. So before you decide, think about it many times first.
Best Options Broker 2020!
Great Choice For Beginners!
Free Trading Education!
Free Demo Account 1000$!
Get Your Sign-Up Bonus Now!
Only For Experienced Traders!
Blacklisted Binary Options Brokers
The question many people ask is: Are Binary Options a Scam? We like to answer this with a No, but some scams do exist.
This is why, every once in a while, it is necessary to add a binary options broker to the blacklist. These are brokers that have failed their clients in one way or another, betraying their trust and making us wary about ever using their services. Here, we will go over the various reasons why a broker might be blacklisted. If a broker is blacklisted, we highly recommend that you stay far away from them.
For the best regulated brokers in the market, check out our top binary options brokers list.
Binary Options Scams: Why is a Broker Blacklisted?
1: Binary Options Broker Scam
The first reason that a binary options broker might be blacklisted is because they were running a scam. Scams take a few different forms. The first that you might come across is the Ponzi scheme. This is where you deposit your money with a broker, only to find out that they were not actually conducting the business that you had expected them to. The broker might disappear shortly after you made your deposit, making it impossible to get your money back, or they might allow you to trade with them for an extended period of time, but when you are ready to withdraw the money that you have earned, it will be impossible to get it back. You might submit multiple withdrawal requests and not hear anything, or you might be given the run around until you just stop trying and realize that you’re not going to ever see your money again.
Most of the times people will jump on the “scam wagon” if they lose all of their money with a particular broker. They will blame the broker as being rigged. Meaning, they will believe that price jumps against them at the last second causing a loss. Price fixing is another name for it.
2: Defunct Brokers: Binary Options Brokers That No Longer Exist
Binary options brokers, just like any other type of business, come and go. They might have found that their business model wasn’t as successful as they had hoped it would be and went out of business, or they might have been forced to close because of legal issues. Whatever the reason, a broker that’s no longer open needs to be added to our blacklist. When a broker disappears, it’s a sure sign that they cannot offer you the service that you had hoped. Unfortunately, just because a broker has closed does not mean that their website has disappeared, too. They might still have a web presence, and they might even still be accepting payments for deposit.
3: Unregulated Brokers
Even with all of the financial regulatory bodies out there, many brokers have chosen to stay unregulated. You will find various reasons for this. The broker’s parent company might find that it is too expensive to stay regulated, or they might decide that it limits their customer base to a specific geographical region (more about this below). Whatever their reasoning might be, it is not in your best interest to go with an unregulated broker.
Why are Unregulated Brokers Less Trustworthy?
When a broker is not regulated, there is no one checking up on them to make sure they follow the law. There is no one checking that the quotes they give clients on assets and execution prices are correct. No one is doublechecking their banking methods, making sure that client funds are kept in safe accounts and are always efficiently maintained. No one is externally auditing the site, forcing them stay honest and accountable. Sure, a broker might be well intentioned even if they are not regulated, but the chances for a problem go up exponentially when they aren’t. Even one “bad apple” employee within the broker’s organization can cause a lot of problems for you. It’s safer to go with a regulated binary options broker, no matter how pure the broker’s intentions might seem.
4: Restricted Countries
In some countries, brokers are blacklisted simply because they are not regulated in that area. For example, if a broker is regulated by a European based body, traders in the United States cannot use that site. That site is blacklisted for U.S. traders. NADEX is the only regulated binary options service in the United States.
Now this is an area that needs to be treated carefully. Just because a broker is not legally allowed to accept traders from a specific geographically are does not mean that they are a disreputable broker. They are very likely to offer a high-quality trading service. But because of various legal rules and regulations, they cannot provide their product to a specific audience. That is just the way it works. And it’s why it is so important that you know which brokers are regulated in your country and are legal for you to use. This will not only protect you from any sort of problems that might occur legally on your end, but it will make sure that the broker that you are using is subject to the laws where you live. It acts as a double safeguard this way.
5: “Greylist” Brokers
What’s a greylist broker? Basically, we can’t easily put all brokers in the “good” or “bad” category. Sometimes things are not simple, and that’s certainly the case with some binary options brokers. These are brokers that have just started out, are unfamiliar and untested, or don’t have large enough client bases for us to really get a good idea of what kind of service they offer. There might not be anything strikingly bad about a greylist broker, but there’s also not enough evidence to qualify them as a top-rated broker.
In the grand scheme of your trading, you need to ask yourself a question. Would you rather use a broker that you know is reputable and is trusted by thousands of others? Or, would you rather get similar services from a broker that doesn’t have an established reputation? We recommend sticking to a broker you know you can trust.
Blacklisted Brokers: Conclusion
What’s your long-term goal as a trader? If you’re like everyone else, your goal can be summed up pretty simply: to make money. You trade binary options so that you can give yourself a chance to make more money. Yes, trading is fun, and yes, it’s a great skill to develop, but the bottom line is that trading gives you the chance to be profitable. Selecting to use the wrong broker takes away that chance. When you use a blacklisted broker, you are essentially choosing a broker that is not going to help you.
Trading binary options is tough. Trading of any sort is risky, and binary options have a particularly high rate of variance when it comes to the outcome. Even a great trader with a firm understanding of different markets can lose money. When you choose a blacklisted broker, you are taking away one of the most powerful tools that you have at your disposal. A good broker is very easy to find, so we recommend spending a few minutes going over which brokers are going to help you the most, and which ones you should steer far away from. It’s only one small step toward being a successful trader, but it’s a very important one. This is your money, after all. You should be doing all that you can to protect it.
Check out our list of the top binary options brokers you can trust.
***Your capital may be at risk. This material is not investment advice.***
Binary Options Brokers
Currently, there are more than 400 trading platforms or brokers. This was not the case in 2008 when binary options trading started since there were about 10 trading platforms. The emergence of many brokers has been good since it has created high competition, which is beneficial to investors in terms of more bonuses and high returns.
Binary Options Broker Comparison
When you start trading in binary options, one of the most important decisions is in choosing the right broker. This is a task we have made easy for you since we have looked and tested for the most reliable and best brokers and included them on our binary options broker comparison.
Browse our website with full confidence, we provide most reliable, accurate and up to date info about brokers from all over the world.
Best Binary Option Brokers 2020
Currently, there is no regulator who can oversee and regulate all binary options and Forex activities across the world. Over the years, there has been a remarkable increase in these trades. This may be attributed to the increased accessibility and advances in technology across the globe. As a result, various regulatory bodies have been formed to regulate binary options and Forex activities.
In most cases, such bodies operate within certain geographical regions and their main task is to monitor the various binary options and binary brokers in such regions in a bid to protect traders and monitor the best practises by such brokers.
Many binary options and Forex brokers have enticing trading platforms in addition to a horde of fabulous attractions for their traders. With this in mind, many traders are wondering whether it is okay to just invest in any binary options or Forex broker. The truth is that not all brokers in the market today are reputable. In the U.S.A, for instance, there are strict regulations that have been imposed for the brokers in the region to be in a position to accept US-based traders.
It is such regulations that make some brokers not to accept traders from certain geographical regions. Rather than go through all the trouble to ascertain the best brokers in the market, we have researched the market comprehensively and are happy to present to your the best binary options and Forex brokers this year.
All the binary options and Forex brokers we have recommended on this page have been tested and approved to be genuine and to deliver up to their promise. We have also gone a step further to group the recommended brokers according to the regions they operate in best indian binary options brokers. As such, you just have to find your preferred broker from the following list, based on your geographical location, after which you just need to sign up and start trading right away.
Recommended Brokers in the US
Currently, there are two main regulatory bodies for all binary options and Forex brokers in the United States. The two bodies are the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). According to the current regulations, it is not illegal for any broker to accept traders who are based in the United States. However, if any dispute arises between the trader and the broker, the broker, either binary options or Forex, will be liable for prosecution. in the recent past, the majority of such prosecutions have led to hefty fines and penalties on the side of the brokers.
As a result of this, there have been two distinct categories of binary options and Forex brokers that accept US-based traders. These categories are the brokers who are duly regulated by any of the two regulatory bodies in the U.S.A and the offshore brokers, who are not regulated by any of the two bodies.
Most of the us binary options brokers accepting US-based traders have trading platforms that are faultless. However, you still need to do your own research on any given broker, prior to trading with them. However, we have made the process much easier for you; we have researched, tried and verified the brokers in our recommended list to be effective and genuine.
Best Brokers Accepting US Customers
Recommended Brokers in the UK
Residing in the United Kingdom offers traders two main benefits, with regards to binary options and Forex trading. While in the UK, you can trade with virtually any broker, without being affected by any regional restrictions. Again, you can also choose to trade with the brokers who are regulated by Cyprus Securities and Exchange Commission (CySEC) and Financial Conduct Authority (FCA), the two main regulatory bodies in the UK. The two are also the most predominant licenses when it comes to Binary Options brokers. As such, it is advisable to choose a broker that is regulated within Europe.While traders from the UK have a freedom to choose any broker that seems appealing to them, including offshore regulated and unregulated brokers, it is highly advisable that you research on your preferred broker before investing your money with them.
Top Brokers for UK Customers
Recommended Brokers in Australia
Binary Options trading is incredibly popular with Australian traders, and it seems to be growing in popularity with each month. Binary Options trading is not banned or illegal within Australia, and brokers based in or outside of Australia can offer their services to Australian traders.The increased demand in online binary options, binary options brokers in Australia and Forex trading has led to the formation of a regulatory body in Australia, the Australian Securities and Investments Commission (ASIC). However, it is not illegal for people to participate in this form of binary options trading in Australia. In this regard, brokers from Australia and other parts of the world can offer their services to people based in Australia. Currently, there are many brokers in the country, some that are offshore and others that are licensed and approved by the ASIC. We have tested and verified all the platforms on our list of brokers to be reputable in Australia.
Top Brokers for Australian Customers
Recommended Brokers in Canada
Although online trading is allowed in Canada, there is still no overall regulatory body for the entire country. Instead, each of the 10 Canadian provinces has its own online binary options and Forex trading regulatory body. Among the regulatory bodies in the country is the Investment Industry Regulatory Organisation of Canada (IIROC). Although this body is capable of formulating and enforcing laws in the Canadian trading markets and securities, it cannot do the same when it comes to online trading.We have taken time to review and evaluate each of the brokers offering their services to the Canadians. Canadian binary options brokers As such, the list provided here comprises of the brokers offering convenient banking support and options for online traders in Canada. Just click on the above link, review the various brokers and start trading right away, with your preferred broker.
Top Brokers for Canadian Customers
Recommended Brokers in Europe
When it comes to binary options and Forex trading, traders in Europe are some of the most fortunate traders across the globe. Among the renowned regulatory bodies in Europe is the Cyprus Securities and Exchange Commission (CySEC). This body enforces a strict regulatory process, which includes Markets in Financial Instruments Directive (MiFID). According to this body, european binary options brokers that are licensed by CySEC can accept online traders from any member state, within the European Economic Area. Additionally, CySEC happens to be the main regulatory body for binary options traders.Traders in Europe also have the option of trading with offshore binary options and Forex brokers. This leaves European traders with a multitude of options, with regards to both online and offline binary options and Forex trading. However, you still need to research on any given broker before trading with them. In this regard, we have extensively studied all the available brokers for European states and have provided a list of the best binary options and Forex brokers in the region. Just go through the list, select your preferred broker, sign up and start trading right away.
Top Brokers for European Customers
Recommended Brokers in India
If you are living in India, you’ll be able to trade absolutely any type of Binary Options and work with any of our top rated brokers. Having such a wide choice is truly a blessing, but can also become overwhelming when you have to choose a broker that will be the best and most profitable for you.What are the criteria you should look into? The main body to regulate binary brokers in India is Securities and Exchange Board of India. However, since most top-performing brokers are focused on European and North-American markets, it is difficult to find a good broker licensed by this authority.
Most of traders from India choose brokers licensed in the European Union member country – Cyprus. The CySEC (Cyprus Securities and Exchange Commission) gives licenses to most of our recommended brokers that traders from India tend to use. One of the major issues for the traders from India is usually the high minimum deposit requirement for most of the brokers. The majority of our best brokers have a minimum deposit of $250. However, if you search carefully, you can find those that bring equally high results with a lower minimum deposit such as TopOption, BDSwiss, Tradesolid.
Best Brokers for Indian Customers
Binary Options Brokers in Dubai, UAE
The Dubai market has an enormous potential for all binary options traders. Funded in 2000, it has 57 companies listed with a majority based in UAE. Dubai Financial Services Authority (DFSA) is the institution responsible for monitoring The Dubai International Financial Center, and the rest of the UAE is regulated by various authorities. They are Ministry of Economy Planning, The Central Bank of the UAE and the Emirates Securities and Commodities Authority, to name the most important ones.There are various benefits that make binary options brokers from this region attractive to choose over others. Firstly, UAE market has experienced some major fluctuations over the past year. This, contrary to what some believe, is a huge plus for risky players. The market is perfect for experienced traders who are ready to take advantage of this extraordinary market.
Many experts recommend getting into binary options trading here while the conditions are still favorable and there is a big chance to profit on a larger scale. Secondly, there is an opportunity to trade during the weekends. While all other are open Monday through Friday, The Dubai Security Exchange is working Sunday through Thursday. This is a lot more convenient for those of us who prefer to trade in our free time. Dubai is expanding very fast, both as a city and as a new attractive financial market. Many experienced traders have already taken their chance and started benefiting from this fast-growing economy with binary options trading.
Top Brokers for Customers from the United Arab Emirates:
Binary Options Trading in South Africa
Currently, binary options trading is extremely popular in South Africa. It became so just a few years ago, and before that there were no particular regulations for binary options brokers in this country. Nowadays, the Financial Services Board (FSB) is a government agency that is responsible for regulating financial market in South Africa and binary options brokers here. Particularly, the FSB special task force called The Financial Advisory and Intermediary Services Agency is responsible for assuring quality binary options trading in the region.When looking for a top-performing broker, keep in mind that it is important to pay attention to the its regulation. However, no matter what is the country of origin the broker, it should be able to suit your need and bring you benefits. That is why, traders can also consider brokers with proven results that are regulated by European authorities. There are various brokers that we can recommend in this region that have proven results and have been recommended by many traders that benefited from them.
Top Brokers for South African Customers
Binary Options Brokers in New Zealand
Although New Zealand is a small country, its size has no impact on the level of interest and quality of binary options trading in this region. Traders from this country are becoming increasingly interested in the opportunities binary trading has to offer. However, before choosing a broker and starting to trade, it is important to educate yourself on what to look out for in the process. This is particularly true in this region, since binary options are just becoming known and there is a lot of tricky moments to consider.First of all, of course, that’s regulations. In this aspect, New Zealand is ahead of many other countries that still remain without regulatory bodies to help traders navigating the market. This country assures the quality of trading by The Financial Markets Authority (FMA), a state regulatory authority that oversees binary options trading and other financial operations in the country. There are standards that brokers must keep in order to obtain and keep their license. For instance, the company must be able to function effectively and fulfill the licensing conditions imposed by FMA. The regulatory body evaluates brokers constantly to make sure it doesn’t impose threats to the state funds or its customers.
Since binary options trading is relatively new in New Zealand, traders often have limited choice of broker. On the other hand, if you wish to keep your funds in the country, you can always be sure of the licensed brokers. For those traders who are willing to trade with brokers from abroad, there are also excellent choices of top-performing brokers licensed in the UK or the EU.
Best Brokers for Kiwis
Recommended Brokers in the Philippines
To become a successful binary option trader, you first need to carefully evaluate your opportunities and threats. That also includes choosing a licensed and promising broker. In the Philippines the regulatory body that is responsible for evaluating these companies is called Securities and Exchange Commission (SEC) of the Philippines. It assures that all the trading activities happening in the region are legal and in the best interests of the country and its citizens.While there are very few brokers based in the country itself, the traders from the Philippines can also expand their search for licensed brokers that will suit their needs licensed by foreign regulatory bodies, such as Financial Conduct Authority (FCA) in the UK or CySEC (Cyprus Securities and Exchange Commission) in Cyprus. These brokers have earned excellent reputation all around the world and proved to be worthy of their reviews. Fortunately, they all accept the traders from the Philippines. Because of this, binary options trading is becoming a popular and exciting part of the life in the region.
Best Brokers for Customers from the Philippines
Binary Option Brokers in Malaysia
In Malaysia, binary options trading is extremely popular. There are currently two Malaysian Government organizations that are regulated and licensed binary options brokers. These are the Bank Negara Malaysia and the Securities Commission of Malaysia. After an extensive search for any regulated binary options brokers in Malaysia, we could not find one as of this writing.This is due to the fact that at this time the primary focus of the binary options market is based in Australia and Europe. However, this has not stopped Malaysian residents from taking part in binary options trading with CySEC & ASIC regulated brokers as well as unregulated brokers.
Best Brokers for Malaysian Customers
Binary Options Brokers Russia: Rules and Regulations
In the world of binary options trading, Russia is starting to get the reputation as a force with which to be reckoned. However, there have recently been some new developments due to recent economic sanctions which have been placed on Russia by the European Union and the US. We will then discuss the overall role of binary options in Russia as well how, if at all, the sanctions have affected the market.It is not illegal per the Russian government to trade binary options so therefore Russian citizen are permitted to do so. Traders in Russia have two options for binary options brokers and they are as follows:
1. They are able to trade with local binary options brokers
2. They are able to trade with offshore brokers that are regulated in other nations.
Safe and Recommended Brokers for Russian Customers
Tips for Comparing and Choosing a Binary Options Trading Broker
The world of trading offers many exciting opportunities and they can be best enjoyed with the guidance of a binary options broker. Choosing a broker that works best for your trading needs can be a daunting and frightening experience but it’s a necessary one for certain. The brokers can help them perform better when trading and instruct them on getting the best return on their investment.
There are several binary options brokers out there who are eager to assist you as a client. However, it is important to remember that choosing a binary options broker can be a detailed process and it’s important to find one that is capable of performing all of the necessary trading tasks. Below are some helpful tips to simplify the process and assist with finding the best broker for your trading needs.
1. Deposit bonus – how much bonus you get on your first deposit and redeposit.
2. Payout – Binary options trading produces varied payouts. Some brokers present variable options that allow them to exit the options prior to the expiration date. Sometimes brokers (for example 24Option) allow payouts as great as ninety one percent per trade. The goal for most people in trading is to make money and with a great binary broker, they can succeed. In addition, look for the following benefits:
– Various Payment Options
– High Bonuses
– Outstanding Customer Support
3. Deposit and withdrawal options – the trading platforms have different ways of depositing and withdrawing money. Check the one that is suitable for you.
4. Types of stock options and warrants closing times
5. Minimum deposit – trading platforms require different amounts of minimum deposit for you to start trading. Look for the one that is suitable for you.
6. Trading tools – some trading platforms may have trading signals and automatic trading while some do not have. Choose the platform depending on the trading tools that you prefer.
7. Demo account – various trading platforms cater for its binary options traders, especially the first time investors by providing them with a demo account. This helps to create experience in trading before ones does the actual trading.
8. Customer service – find out if the trading platform has good customer service to cater for all your enquiries concerning binary option trading.
9. Simple User Interface – This is a dependable and professionally structured trading program that offers a simple user interface. This helps to conserve time and effort for the user. The majority of the programs are web based and should be and is recognized as a simple program with interactive controls.
10. Multiple Asset Investing – One of the major benefits of professional software is that is doesn’t restrict investing. Dependable binary options brokers should provide a means for investors to make multiple investments in various assets such as forex, commodities and stocks. This increases the profit margin for the investor.
11. Expiry Dates Info – Dependable brokers offer expiry dates on a weekly frequency, while offering some daily or hourly options as well. The maximum trade control is obtained only when maximum expiry details exists.
12. Payout of Maximum Percentage – Dependable brokers offer their clients maximum payout percentage. Search for trade option platforms that present between 75 to 91 percent payout and even the unsuccessful trades will generate about a 5 to 10 percent return to investors.
13. Multiple Languages – Global trading options makes it extremely beneficial to have multiple languages and therefore, the platforms are being presented to support the language spectrum as well.
Despite the trading platforms having a lot in common, their way of trading may differ in terms of bonuses, initial deposit, the maximum payout, their means of depositing and withdrawing money, time of trading and their customer service. You may also find trading platforms, which give back to the trader a certain percentage of their investment if they do not win the returns. Therefore, it is important to find out information about the trading platforms before deciding on the ones to use. Using a binary option robot is often also profitable.
Best Options Broker 2020!
Great Choice For Beginners!
Free Trading Education!
Free Demo Account 1000$!
Get Your Sign-Up Bonus Now!
Only For Experienced Traders!