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How to choose the right broker in Binary Options: tips for choosing a broker BO

How to choose the right broker in Binary Options: tips for choosing a broker Binary Options

A lot depends on the choice of a Binary Options broker, namely whether he will pay you or not. We have already looked at ways to choose binary options brokers in this article, so let's talk now about the “little things” that you should also pay attention to when choosing a Binary Options broker.

In order for a broker to consistently pay money to earned traders, it must be:
  • Market leader with good cash flow
  • Old Forex broker with Binary options
Market leaders value their reputation very much; moreover, their trading turnover is very large, and they simply will not notice your withdrawal of funds from the trading platform - such as you, tens of thousands per day.

Old Forex brokers also have huge cash turnover - they have been on the market for several years and they have something to pay you with. In addition, as a rule, with such brokers, the main income comes from Forex, and not from Binary Options, which act as an additional trading tool.

General notes on choosing binary options brokers

Localization of Binary Options Broker

The presence of good localization indicates that the Binary Options broker has taken the matter seriously in order to please a larger number of clients from different countries.

The trading platform must have both English and Russian localization (for CIS countries). Moreover, the translation must be of high quality and without grammatical errors. The presence of the latter indicates that the broker is in a hurry to earn money: for him, the first place is earnings, and not the services provided to his clients.

If a Binary Options broker allows you to use its trading platform in different languages, then this indicates a large coverage of clients and, accordingly, a large cash flow, which is very good for the client.

For example, the Binary Options broker Pocket Option has a trading platform available in 17 languages:

Binary options broker localization

Trading platform for Binary Options brokers

The trading platform of a Binary Options broker should be convenient for trading. Previously, the Spot Option platform was a very popular trading platform - every second Binary Options broker had it. The reason for this “diversity” was that this trading platform was very cheap for the broker, but was very unprofitable for the client.

spot option binary options trading platform

The best Binary Options brokers have their own trading platform, which they develop from scratch just for themselves. Brokers have such trading platforms IQ Option, Binomo, Quotex, Olymp Trade, Binary.

Binary options broker trading platform Quotex

As a rule, such trading platforms are very convenient and have a convenient price chart that can be customized to suit your needs. In general, it is best to choose brokers with a unique trading platform that is constantly being improved and refined - this suggests that the broker is spending his money now, which means he expects to stay in the market for a long time.

Binary options broker managers

Everything is very simple here: they call constantly and every time they ask you to top up your trading account - run. They call once or don’t call at all without your request - you’ve come to the right place. These are peculiar rules of good manners. Leading Binary Options brokers know that clients do not like it when managers call them for no reason.

Finance with Binary Options Brokers

Payout percentage for a correct forecast from Binary Options brokers

For a correct forecast, Binary Options brokers are willing to pay a different percentage of the transaction amount. The higher the broker's payout percentage, the better for the trader trading with him.

An adequate percentage of profit for a correct forecast is a percentage from 70 to 100. Almost all Binary Options brokers offer this percentage. If the percentage of profitability is above 100%, then the trading conditions there are more difficult than with regular Up/Down options.

It is also worth looking at whether payments on assets change or not. If the percentage of profitability is floating and depends on the trading time, then this is not very good for a novice trader (an experienced trader will still take his profit). Also, you should not trade on assets where the payout for a correct forecast is less than 50%.

If a broker has a stable percentage of profitability on all assets, then this is very good for the trader. For example, such Binary Options brokers include Intrade Bar. The profitability on assets itself can also change depending on the amount of investment in the transaction - the larger the investment amount, the greater the percentage of payment for the correct forecast.

Binary options broker trading platform intrade bar

100% for a correct forecast from Binary Options brokers

You can get 100% for a correct forecast from many Binary Options brokers. This percentage is very profitable for the trader - the risk is equal to the profit (1:1). Another thing is that such a percentage can be found, as a rule, on options that are different from the familiar “Up/Down” options.

The broker Alpari has a “One Touch” option with such payouts. The broker IQ Option has a whole range of similar options, the profit on which reaches 900% of the investment amount. Broker Quotex has the opportunity to trade on "Higher/Low" options. Also, the broker Binary has an increased payout percentage for options with expiration time at the end of the week.

Even the old-timer of Binary Options, the Binary broker, periodically jumps in the percentage of profitability for a correct forecast of 100 or even more. In general, whoever seeks will find.

Bonuses and risk-free trades with Binary Options brokers

If you are a novice trader and have enough funds for trading, then it is better not to take bonuses from brokers at all. If your funds are not enough for optimal deposit with your broker, then you must choose bonus, not the broker for you.

A Binary Options Broker should not force bonus funds on you. Even if the bonus is provided to everyone automatically, there should be a button to turn off the bonus. Now, many Binary Options brokers have moved away from their bad habit of freezing withdrawals of funds to traders who have not worked out the bonus. When you submit an application for withdrawal of funds from such brokers, before the bonus is processed, the bonus will simply burn out, but you will still be withdrawn the real money without any problems.

This approach is used by the Pocket Option broker, as well as the Binarium broker.

If we talk about risk-free transactions, then read the terms and conditions very carefully. Sometimes it’s a gift for replenishing your account, which does not oblige you to anything, and sometimes it’s a very cunning way from the broker to impose a bonus on you that definitely needs to be worked off.

Minimum deposit with Binary Options brokers

We have already talked about minimum and optimal deposits for Binary Options Brokers. It’s good if the broker’s minimum deposit is $5-10, and the minimum investment amount is $1. It is bad if the minimum deposit with a Binary Options broker is $200-500, even if the minimum investment amount is $1.

Now there are a lot of brokers that accept minimum deposits of $10-50 - so trade with them! The lower the minimum deposit, the better for a novice trader, but do not forget about risk management. Always be serious about choosing a deposit for a Binary Options broker.

Withdrawal of funds from a Binary Options broker

Ideally, the Binary Options broker withdraws money very quickly and without account verification. This happens very rarely, but it still happens (INTRADE BAR broker).

It’s good enough if the Binary Options broker consistently withdraws money after account verification - a very common case. Brokers: Moreover, with some brokers, verification is not required to withdraw small amounts. If we talk about the speed of withdrawal, then the 100% leader is still the same Intrade Bar, which withdraws money in 2-15 minutes. Binary options brokers who serve traders with VIP accounts can compete with him - Binomo, IQ Option. You can also withdraw money from these brokers very quickly.

In general, with most Binary Options brokers, you can receive your money within 3-4 business days. It depends on the withdrawal method. For example, if you withdraw money to a card, the broker can withdraw it very quickly, but there may be delays with the receiving party - your bank, which must verify the transfer.

Also, you should pay attention to the methods of depositing and withdrawing funds. Some brokers refuse to withdraw money to unknown wallets - they withdraw money only to the place from which the account was replenished. A unique way to verify a payment method.

withdrawal of funds from binary options brokers

At a minimum, there should be the following methods for depositing and withdrawing funds:
  • To a VISA or MasterCard bank card
  • Electronic wallets: WebMoney, QIWI, Yandex.Money, Perfect Money, ADV Cash, and so on
  • Not bad, there is a withdrawal in cryptocurrency: Bitcoin, Litecoin, Bitcoin Cas, Ethereum, USDT
The more options for depositing and withdrawing funds, the better for the trader.

Commission for withdrawal of funds from Binary Options brokers

There should be no commission for withdrawals from Binary Options brokers, but very often this is not the case. As a rule, the commission applies only to withdrawals of small amounts up to $100. When withdrawing larger amounts, Binary Options brokers themselves pay the client’s commission.

commission for withdrawal of funds from binary options brokers

Trading with Binary Options brokers

Types of options and available instruments at Binary Options brokers

If a Binary Options broker offers several types of options for trading, then this is always a plus, since the earning potential increases dramatically. On the other hand, most often you will still use standard Up/Down options.

As a rule, many non-standard types of options have increased profitability, but do not forget that they carry great risks, which is beneficial for the Binary Options broker. But, nevertheless, in experienced hands, even the most complex instrument will earn profitably, and besides, you can always return to exotic options in the future, when trading experience allows.

Expiration time for Binary Options brokers

The situation is similar with the choice of expiration time for Binary Options brokers - the more choice, the better for the trader. It is very convenient if you have the opportunity to enter the expiration time yourself. This opportunity does not occur often - usually the expiration time is selected from the broker’s ready-made templates. For example, at the Pocket Option broker, the choice of expiration time looks like this:

Binary options broker expiration time

The large choice of expiration time determines how effectively one or another trading strategies can be used at the broker.

Minimum transaction amount at the Binary Options broker

Always pay attention to the minimum transaction amount of your broker - if it is more than $5, then, as a novice trader, it is better not to trade with such a broker. If the minimum transaction amount is equal to $5, and the minimum deposit is $10, then the entire trading balance can be lost in just 2 transactions (the risk is 50% of the trading balance in each transaction).

Look for brokers where you can trade with a minimum amount of $1; fortunately, there are plenty of them now.

Assets for trading with a Binary Options broker

It is desirable that the Binary Options broker allows you to trade not only on currency pairs, but also on stocks, indices, and commodities. If the broker also has cryptocurrency, then that’s great.

Don't think that a trader "only needs one asset to trade." I bet that during your training you will try yourself everywhere, since there have always been many profitable trading strategies for certain assets.

assets from binary options brokers

Binary options broker regulation

The presence of regulation at a Binary Options broker is good, but, as practice shows, the broker can easily do without regulation (Intrade Bar).

But if it is very important for you that the broker is regulated, then regulators perform best:
  • CySEC
  • FCA
  • Financial Commission
  • ASIC
They keep a tight rein on their brokers and force them to fulfill all their responsibilities to the client. In addition, they have insurance against bankruptcy of the Binary Options broker, so your money is always safe and protected from force majeure.

Training from Binary Options Brokers

Almost every Binary Options broker is willing to provide you with a training course on trading. What is the logic in this if the broker himself makes money from the trader (his client)? As a rule, a new client of a broker becomes a person who has never traded Binary Options before. So, the training is designed to give a “accelerating kick” to a beginner and teach him how to use the trading platform (it will take him a long time to figure it out).

Simply put, the Binary Options broker, by providing a training course, encourages his client to make his first deposit – “look how simple it is with us!” This is beneficial only for the broker. So you can look at these courses with only one eye and not take them seriously. Even compare the courses from the broker with the course that I prepared for you - the difference is colossal!

It’s also not worth following advice in courses from brokers, just as you shouldn’t thoughtlessly apply trading strategies from a broker, especially if they advise you trade using Martingale (which happens very often).

In general, be extremely attentive to what the Binary Options broker gives you - most often (almost always) he does this only for his own benefit.
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