Choosing A Binary Options Broker
If you’re going to trade binary options, you need the services of the best binary options broker. This organization won’t trade for you but will provide a trading platform you can use and other products and services to make trading simpler.
As binary options have grown in popularity, the number of brokers has increased. There are now many brokers to choose from and you need to select carefully to get the best binary options broker. When going through the selection process, there are a number of factors to bear in mind.
- The Trading Platform
No matter what type of trader you are and the level of experience you have, the trading platform is the same. It’s central to everything you do because it lets you trade. For this reason, it must have features that let you concentrate on your main activities, which are to trade binary options and make money.
The trading platform needs to be easy to use so you aren’t prevented from trading when and how you want. It has to provide access to a wide range of assets on markets around the world so you can trade required assets at any time.
It should allow access from various devices, requiring the availability of a mobile version that can be accessed from any device. This means you can trade any time and from anywhere. A binary options broker such as UBinary, for example, provides trading in over fifty underlying assets, in any markets, across all time zones and at any time you choose.
- Easy to Use
Since your main aim is to trade binary options, you want to be able to concentrate on doing that without having to think too much about how you’re going to do it. You want a trading platform that’s easy to use, enabling you to make trades in a simple and straightforward manner. Everything else that’s provided should be easy as well, including depositing money to fund your trading and making withdrawals once you’ve accumulated funds.
Look for a binary options broker that provides different ways of depositing and withdrawing funds and has simple procedures to do so. Of course, finding out how simple the overall operation is might not be easy until you’ve opened an account and started trading. However, the sign-up procedure itself might be a good indication. If it’s overly complicated and difficult to follow, it’s likely the whole site will be the same and possibly indicates the broker should be avoided.
- Available Features
When you’re new to binary options trading, you may need only a basic system that’s simple to use. However, as you become more experienced, your needs will become greater. When finding the best binary options broker, therefore, you should look ahead and make sure there’s a wide range of features to meet your future requirements.
UBinary, for example, is constantly introducing new features for the benefit of its traders. Recent ones include Profit Line, a trading system that gives up-to-date information on open options, Take Profit that allows profits to be locked in and Roll Forward that enables the extension of expiry times.
- Good Returns
The aim of binary options trading is to make money so choose a binary options broker that pays good returns. UBinary, for example, not only pays 65-71% on in-the-money options but also returns 15% against those that lose. There’s an affiliates program that gives you the chance to earn extra money.
- Levels of Support
Different levels of binary options trader require different levels of support so it’s important to choose the best binary options broker to meet varying needs. If you’re a novice trader, you’ll want lots of help and advice, including information about how to trade binary options. Any tips will be useful, as will a demonstration account so you can become familiar with trading without risking any money. You may also need help on a 24/7 basis, whether as telephone or email support or a live chat facility. And it’s not just the availability of help, it’s the quality of advice that’s provided – you need access to someone who knows what they’re talking about.
When you gain experience, you’ll be less reliant on help but more in need of information on the assets you’re trading. You’ll want up-to-date prices, news feeds, analysis and recommendations. Again, it’s the quality of the information that counts as much as its availability, so sign up with an experienced binary options broker.
There are plenty of brokers about but some are better than others. Look for one that has good experience of binary options trading, has all the features you’re likely to need and is secure and knowledgeable. A highly respected and in many ways the best binary options broker is UBinary, so check the website (www.ubinary.com) to see how it matches up.