There are many brokers present in the binary options trading industry, but not all of them are a good choice. In order to start binary trading, traders must find a reliable broker that is offering binary trading opportunities. Even though this seems like a difficult task, it is not impossible, as most reliable brokers usually offer many popular features, tools and account types.
List of brokers who are supporting binary options trading find in the table below.
Many traders believe that having money is all that takes for successful binary options trading. However, brokers, robots, algorithms or software can only be used if the trader understand the concepts of binary options trading and acknowledges the importance of high-quality service – in this case, a binary broker.
Traders must first find a good broker, and see what features and tools are offered and supported. All broekrs have multiple tools, charts and features they consider to be decent and reliable. This should make decision-making process much easier, and traders can be sure that the broekr is a good choice for them.
After selecting and depositing with a broker, traders can then use all the features and experience binary trading to the fullest.
As already mentioned, the best way to find a binary broker for binary trading is to first and foremost take a look at what the industry has to offer. Usually, there are more than only one or two brokers, and traders have to make a decision on their broker.
This section, dedicated to binary brokers, will provide traders a better and deeper insight into the world of this type of financial services by reviewing information found on the website. Before making a deposit, traders should read all reviews and compare brokers, as well as understand the risks.
Reviews available on BinaryRobot.org are detailed articles that are providing all necessary information about how the binary options broker operates. They reveal everything about depositing methods, account types, principles of auto trading, education opportunities and customer support.
This information always comes in handy when the trader is looking for a specific information or wants to get a general idea what the binary broker is all about. Here are some of the characteristics of good brokers:
Make sure to take the time necessary before making a final decision. Good broker that suits the trader is of crucial importance for all traders who want to experience binary options auto trading.
It is important to understand that in order to start binary options auto trading, traders have to make a deposit with a broker. Also, the broker may charge a small fee for account opening, but the most popular binary options brokers are free.
Usually, after the trader selects a broker, he goes to the broker’s website and simply has to follow further instructions for depositing. Instructions are always very user-friendly so all traders can successfully follow them and start their binary options trading in very short time.
Binary options brokers are not all made the same. There are good brokers and bad brokers, or so called binary scams. Binary scams are brokers whose main concern is only to take your money, while good trading experience is nowhere to be found. Such brokers can be somewhat hard to recognize as they seem very interesting and legit, but as soon as traders take a better look it will be obvious that not everything is as it seems.
For example, scam binary brokers usually have no clear terms and conditions. The most important document that defines the relationship between the trader and the broker is vague in cases of scam and leaves many questions unanswered. Also, the broker can use scam tactics, such as forcing you to deposit, using spam techniques such as cold calling and managing the accounts without the trader’s approval. Reviews like this can help you find a broker that will suit your needs.
Withdrawals are usually processed by the binary broker and are possible when trader has the minimum amount required on the trading account. Also, all other terms related to withdrawals have to be fulfilled.
Traders should get acquainted with withdrawal methods supported by the broker and find out what are terms and conditions for receiving payouts. There is a variety of banking methods available in the world, but e-wallets are the most popular as they are fast and convenient. Of course, traders can use more traditional methods like credit cards and bank wire, but they usually take longer and often carry different fees. Brokers are obligated to list withdrawal terms, and in other cases, traders shouldn’t make a deposit with such brokers.
Binary options industry is very lucrative for traders who know how to trade but keep in mind that not even a vast knowledge of financial markets cannot be sufficient if you trade with a bad broker. Unfortunately, not all brokers are fair and honest, and some of them just want to take your money. Such brokers are referred to as binary options scams.
Also, they often look so good and legit, that it is impossible to tell a good broker from the bad broker. Binary scams usually have several characteristics in common, and they distinguish them from solid and honest binary brokers. Here are some signs that broker might be a scam.
These are only some of the signs of unethical behavior that might indicate that a broker is a scam. However, as it can be concluded, it is sometimes hard to tell that a broker is a scam before making a deposit.
For example, a new trader simply googles ‘binary broker’ and finds one that looks quite attractive: the website is modern and has amazing features. It looks good on the mobile phone as well. The customer support is not available, but hey, there is a nice promotion advertised on the website. So, the naïve trader opens an account with the binary scam and makes a deposit without a second thought.
After login, the trader gets a call by a friendly account manager that will help him every step of the way. Unfortunately, first few trades are lost, but the trader understands he is a beginner, so he makes a new deposit, as recommended by the manager. He has better things to do and leaves everything to the manager. Within the few days, all money is lost, the manager is gone and the customer support won’t reply. The money is lost.
One of the easiest ways to make sure that binary broker is not a scam is to check its background by looking for a license. Regulated brokers must follow a whole set of rules and legal obligations when it comes to doing business with their customers. In order to keep their license, they cannot act fraudulent or unethical.
Some of the brokers that are not recommended are AnyOption, PlusOption, PorterFinance, SwiftOption, BinaryTilt, 10markets, Tradorax, Rbinary, SternOptions, Dalton Finance, Banco Capital, Opteck, OptionFair, Exbino, WMOption, uTrader, Binary8, StoxMarket, Banc De Binary, Option.fm, OptionBit, OptionsXO, StellarFinance, WynnFinance, OptionRally, BinaryBrokerz, Empire Option, Bloombex Options, RBoptions, TorOption. Please keep in mind that some of these have been closed in the meantime, or stopped offering binary options.