There are so many binary options brokers to choose from that it can make your head spin! With each broker offering different benefits it can be difficult to choose just one to work with. So which are the best binary options brokers? Well, in order to help you choose a great broker, I’m going to show a simple way for you to easily know which ones are good and which ones are not. So here are the criteria for choosing a great binary options broker…
Is Your Hardware Supported
All binary options brokers offer support for PCs, but if you’re on a Mac then you need to make sure that the binary options broker you’re choosing will work on your computer. You won’t be able to make any money if you can’t trade and use the trading platform of the broker on your computer so this is very important.
Is Your Country Supported
Not every binary options broker allows customers from all countries across the world. Some of them take only American customers, some of them take only British customers, or Australian customers, and some of them take a mixture of other countries. So make sure that you read the fine print and find out if your country is supported before you choose a binary option broker.
Does It Offer Mobile Trading
The best binary options brokers offer you the ability to trade using your mobile phone. This is a great feature to have because sometimes you may not always be glued to your computer screen when a winning trade opportunity presents itself. So being able to trade on the go with your mobile phone opens you up to far more training opportunities and can increase your profitability.
Sign Up Bonus
Many binary options brokers offer sign-up bonuses or other incentives for joining. Most often they will match your deposit or sometimes they’ll even give you more money than you deposit for joining up. Nearly all of them do this so you should shop around to see which brokers have the best bonuses. You’ll be able to use this bonus money to make even more trades and potentially make even more money.
High Payout Percentage
The best binary options brokers offer payout percentages of at least 70% or more. It’s pretty obvious, but the more money your broker pays out the more money you make on the end of the trade. So you should always go the broker that is paying out a high percentage over one that keeps more of your money.
Good Expiry Times
You want to choose a broker that gives you a wide range of expiry times to trade on. An expiry time is the time in which an option expires. Some brokers offer expiry times as quick as five minutes while others allow you to trade options that it don’t expire for up to a whole month. A good binary option broker will give you a solid range of times to choose from when trading your options. You want this range of times to open up your trading opportunities for more chances to profit.
Good Support
A good binary option broker will have a solid support system in place. This may come in the form of 24/7 chat support, a support phone line, or dedicated support email address. You want to support in place in case something goes wrong during your trading that you need help fixing.
Demo Account
The best binary options brokers offer you the ability to sign up for free demo account to test drive their service. This is very important because you want to get an idea of how a specific brokers trading platform works and how its user interface is laid out. With a demo account the ability to try everything else before you ask you commit to using the broker.
Good Reviews
You also want to make sure that the binary options broker you’re thinking about using has a track record of good reviews before you commit to them. You can find these reviews by Googling them and search them out on popular binary options trading forums.
If you use these criteria when shopping you’ll be able to choose the best binary options brokers for you. Any broker who meets all of these guidelines is a good one and you should seriously consider doing business with them. So keep these things in mind while you are shopping for your binary options broker.