Modern technologies and a large range of brokering solutions make it easy to launch your own binary options broker–money is all you need. As a result, it is becoming more and more difficult for a trader to see whether or not a broker is a scam. It was a good idea to know how to choose a binary options broker for all traders, particularly those who make their first steps in the binary options industry.
We can immediately say that we have more than 4 years of experience in selection of our traders as the right broker and can trust all brokers mentioned on our website! We not only add all brokers to our website, but analyze attentively the quality of the service and discuss it before we do it with their representatives.
To be honest, there are no good or mistaken things, various brokers offer different services. There’s certainly no ideal brokers on the market right now and it won’t happen. For this very reason, professional traders always open accounts with at least two brokers to get the most from binary options. Don’t forget to spend time always selecting the right broker to deal with, because you will spend money with it and your hard work will make it! The fact that you were too lazy to use about 10 minutes to analyze the broker is very frustrating. Here are also the steps to identify scam or unconfident broker
We have a separate in-depth article regarding the binary options regulators, but you should basically only work with brokers who are regulated by trusted corporations. For instance, if you live in the UK, mainly with brokers licensed to FCA, this offers an added security level. Cases occur when someone has deposited money, and managers working with this broker have just lost all of their customer money, but the broker has a license for CySEC. After a letter to CySEC trader, the broker was fined for about EUR 10,000. The money was returned to him. With brokers, CySEC and FCA are very strict to make life much easier for traders and investors.
You just need to work with brokers who have rather large call centres, but you can’t see or say that by visiting websites. We spent a long time figuring out that our visitors can benefit from customer support well enough. The English customer support for each broker listed on our website can be contacted in several ways: telephone and e-mail, or live chat. The three ways to contact every trusted broker should be by default! Some brokers are happy to help with Skype, Twitter, or even their Facebook pages. Customer support should be 24 hours a day to help you at any time of day with your account. This is nearly standard for all the big brokers. Therefore, choosing a broker should not be a problem.
Brokers should provide secure and transparent deposit and withdrawal procedures for customers. Every broker should also ask you to check your ID (passport scan, address proof and perhaps your card picture). It’s a normal practice and you don’t have to worry about passing on your details, as the binary options broker is almost none other than a bank. In total, 5 methods of payment should exist, including bank cards for Visa and Mastercard and some wallets such as Neteller and Skrill.
It’s more a personal decision for every dealer, but one can say there are loads of brokers we wouldn’t believe in and they are using the SpotOption platform–it’s the most popular platform, but it’s not the best. This is how it happened in the past. Most brokers with payments problems or bankruptcies have been using the trading platform of SpotOption. Other suppliers include TechFinancials, Marketspulse, Tradologic, TradeSmarter, OSystems, KeyStone and others. There are brokers who developed their own trade platform, it is important to mention.
Terms & Conditions
Before you sign up, it is very important to read the terms and conditions. If this section can not be found on the website of the binary options broker, close it. Broker should not disguise its customers ‘ terms and conditions. In some cases, you may also only withdraw your money if you plan to receive the deposit carefully. To add more, it should be clear to you as a trader to read terms and conditions, for instance, it should have no more than 20 pages of information. Small font, always read, broker could hide something.
Reviews on other sites
It is very important to visit binary options websites with reviews by real people who have previously traded with a particular broker. You might face the problem that some website reviews can be 100% fake. Brokers could simply attempt to create a positive atmosphere around their brand with good reviews, which you believe they are honest. Recall also that people have a greater chance of leaving negative comments than positive ones (how many positive reviews did you leave, even if the product you purchased was really good?). To address this, you should visit two to three websites or fora where you can ask your broker any questions. Moreover, please send us a email if you want our comments. You can ask us anything about brokers. Our experience is great and we are pleased to share it! We are also planning to introduce our own ratings for the brokers of binary options in the near future.
In conclusion, we would like to say once more that by Googling checking the right way to select a binary options broker is to avoid that broker if you can not find any decent information. You should stick to popular big brokers who deserve to be called’ top brokers,’ and we know they certainly don’t want to ruin their fame!