publish2017-08-21 6:44 pm

Which Broker should I choose for Binary Options Trading?

with broker for binary options

Choosing your broker is a personal decision with the potential to be considered as one of the most important financial decisions you have to make. Your broker not only has to follow your indications to the letter but also he needs to give you or offers some vital support and learning tools to maximize your profit potential and help you increase your win rate.

Review his reputation and trading history.

Before trusting your money and time to someone, you are required to go over his professional trajectory and success rate. The longer his has worked as a reliable broker, the easier for you to trust him as your broker. Particular attention must be pay to his former and current customer reviews and opinions. The negative comments are the one that requires significant investigation, try to contact the authors of any adverse comment and explore the reason behind it. Do not feel afraid to ask directly to the broker for any clarification you need before hiring him.

Minimum and maximum bid

Read carefully what is the minimum amount and the maximum sum of money your broker deals with, and be sure it adapts to your bidding pattern and investing strategy. Additionally to the preset amount, you need to ask for the periodicity, or how many times he will buy or sell your assets per day. Write down all you question and be sure he answers them appropriately.

Broker operational hours

Your binary options broker has to be available during your operational market hours. He needs to work during the time in which your options are trading. This point is paramount, particularly if you trade in several stock markets, be sure his working hours are the same as your trading hours.

Does your Binary options broker offer all the probable trading options?

Ask if he works with short term options, mid-term and long terms, strike price, etc.  How soon do you need to buy your options? Alternatively, with what anticipation do you need to make a call or a put for him to process? Binary options, as well as the technical analysis, are time sensitive, and you need that your broker is ready when you get the information to make a choice and buy your options at the right time.

Payments methods

It is rather simple since most brokers accept credit card payments. However, be sure your broker offers your preferred payment methods, and it will cover your investing amount.

Withdraw minimum amount and processing time

Ask for the lowest sum of money your broker will pay you after your options ended in the money. Which withdrawal options he offers e.g. transfer, wires, PayPal, etc. On the same token, investigate the processing time and how often can you withdraw money from your account and any related fee.

The best broker on the market for trading binary options and forex is IQ Option

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The information contained in this website is for general information purposes only. This information is not an alternative to investment advice. Statrader.com is not licensed nor authorized to provide investment advice or investment services. Statrader.com does not promote, advice, or make any personal recommendation to clients to trade binary options, cryptocurrencies or forex. Before any client start trading or use any forex / binary options broker, cryptocurrency exchange or mining service, he must do his own investigation about legal license, registration and government authorization to ensure his suitability, and client must completely understand all the risks involve with any financial instrument, cryptocurrencies and/or trading or opportunities before he even considers start trading.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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