For several years now, the binary options industry has been growing at a steady (and very quick) pace. This kind of trading allows people to literally start investing from their living room, which is why it has become extremely attractive to a whole lot of people. Add to that the fact that the main concept is fairly simple – you only have to guess whether an asset’s price will go up or down – and you will realize why traders across the globe see this as a golden opportunity. But to start trading, you have to choose among loads of binary options brokers. This is not always simple because different binary options brokers approach their clients in completely different ways. So, here’s a quick guide to help you make your choice.
Binary Options Brokers | Licenses
The most important thing is to make sure your trading partner is reliable. Through binary options brokers, you access the market and they are the ones offering you various deals and investment opportunities. On top of that, everything is done exclusively online, so you really need to make sure the company you want to trade with is legit. Although very rare, scams in this industry have been known to happen, which shouldn’t come as a big surprise given how big this industry currently is. However, there is a way to make sure you’re trading with the right broker and that’s by establishing whether they have a license or not. There are regulatory bodies across the world that make sure binary options brokers fulfil certain criteria, and if these criteria are met, the broker is awarded a license. Therefore, always check for a license to make sure your prospective broker can protect your personal and financial information.
Binary Options Brokers | Research
Now, as we have already said in this article, different binary options brokers offer different deals. Some may have different minimum deposit requirements, others may have different bonus policies, and you even have brokers that have different trading modes available. Because of all these differences, acquiring information about a company before you deposit any money is extremely important. The best way to do that is to take a look at some expert reviews written by people who have been a part of the industry for years. This saves you a whole lot of time because you don’t have to examine each broker personally. Simply read these articles and you will know everything there is to know about a broker. That way, you can plan you strategy down to the smallest detail and be fully prepared once you start using the broker’s trading platform and everything it has to offer.
Binary Options Brokers | Education
Another thing to consider, especially if you’re a rookie trader, is how much education your binary options brokers offer. Some of them have vast education centres, with a lot of useful videos, eBooks and other useful materials. Others may offer free webinars and 1-on-1 sessions with trading experts to quickly clarify everything you need to know about this type of trading. Education is usually completely free, so it represents an additional value you get for your deposit. Make sure you examine this part of the website before you make your final choice because it can often offer something very interesting. Knowledge and information are absolutely essential if you want to succeed as a trader.
Binary Options Brokers | Surprise Promotions
Just like in any other industry, here too will you be able to find more and less famous companies. Some binary options brokers are making their way into everyday life and are signing partnership agreements with some of the most famous athletes and sports organizations on the planet. These agreements often lead to special promotional activities in which a broker offers special bonuses and/or prizes to its clients. As a matter of fact, surprise promotions are a very common occurrence in this industry, especially if we’re talking about well-established companies. So when you’re researching a broker, try to find out do they give out special promotions and how often do they do that. That’s another way of increasing your money’s value efficiently.
Binary Options Brokers | Numbers
Let’s now take a quick look at the numbers usually offered by binary options brokers, just to give you an idea what to expect. Every company has a minimum deposit requirement, which is the amount of money you have to invest in your trading account before you can start trading. This varies a lot, from just a few dollars to 250$. However, lower minimum deposits may not necessarily be better for you because of different bonus policies brokers offer. They will usually offer you a welcome bonus as a percentage of your first deposit, so the more you deposit the more you get. In addition, not all brokers offer the same payouts after a successful trade – usually your profit is about 85%, but you can find deals that go beyond 90%. As you can see, there is a lot to consider in terms of numbers when choosing your broker, so we sincerely suggest take some time and read expert reviews to get all information in one place.
Binary Options Brokers | Conclusion
Binary options brokers play a vital role in this industry, so it’s really important that you find one that suits you perfectly. Different brokers offer different financial opportunities and different education materials, which means you have several parameters to compare before you choose. However, before you do anything, make sure your potential partner is reliable and has a license from a regulatory body. You don’t want any unpleasant surprises coming your way. Try to define what your priorities are when looking for a broker (bonuses, minimum deposits or something else) and you will immediately narrow your choices down, significantly. When you find the right broker, you will see the magic this kind of trading can bring.