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Choosing Your Binary Options Broker

 Binary Options Broker Table

The above comparison table is shows a summary of all the main features of the various recommended brokers. All brokers included in the above table have been traded on real ‘live accounts’ and are chosen because of their reliability and popularity. Only recognised brokers that have been approved by governing bodies and are able to deliver a respectable trading experience are included.

If you want to open an account or simply get more information, then click on the sign up button. You are not required to open an account immediately, some brokers offer demo accounts so you can try their platform. This will allow you to check out the latest features and bonuses offered. Many brokers also offer free trading material such as eBooks at sign up, these allow you to get up to speed with their platform, offer trading tips and much more. Please ensure you check with the broker for any specific services that you need prior to opening your account.

What should you look for when opening a Binary Options Broker account?

The binary options platform can make a huge difference to your success as a trader. The brokers provide you with pricing, deals, account functions and obviously a trading platform. For these reasons it is imperative that you know what the different binary options brokers offer and which one is the “best” for you to use. We have made sure every broker on our website is legit and reliable, although difference in trading experience will mean different people will be best suited to different brokers.

Binary trading platforms are made with complex software which you can gain access to online. They are normally web-based (all online), allowing the trader to access their account with just an Internet connection.

Before you choose a binary options platform to trade with you should consider some of the key facts below. These will aid you to discover the best and most appropriate platform for your digital options trading.

Contract Profitability

One of the most important factors that traders/ investors will look at when choosing their binary options broker is the amount of profit offered.

Binary options brokers make their money by balancing the number of winning outcomes Vs the number of losing outcomes on each trade. For example, a broker usually offers a 70% return on a winning investment, but a 100% loss on a losing investment. This is done to protect the brokers from going bankrupt (so they can pay the winners).

For this reason it is important that you factor in any rebates that are offered on contracts into your profit calculations. This will allow you to work out what rate of return you need to make and the percentage of winning trades that you will need to make to ensure your strategy is a profitable one. Always look to trade with a broker that offers at least a 70% return on winning trades.

Speed And Reliability

The ability to quickly place a trade (buy binary options) should be looked at when selecting a broker platform. Due to the nature of binary options being fixed over a certain time period, the speed you can execute trades is essential. Often traders will look to put on a trade before a losing trade is over as this will increase their chances of winning the next trade.

It is vital that your trades are placed at the levels you intent them to be at. Otherwise you could simply be ‘out of the money’ due to poor website latency. Additionally you should make sure that the platform is reliable. It should not suffer from 'down times' or too much ‘maintenance’ in trading hours. 

Ease Of Use

Whether you’re an expert or a beginner, an easy to use platform is always preferred. Often a professional and well thought out broker platform is a key sign to many other features e.g. reliability, speed and even support. Take in mind that it can cost a lot to get a nicely designed and easy to use platform, so this should be a factor that any trader should look at.

An easy to use platform will also ensure that you don't make costly mistakes when trading. The interface should be intuitive and allow you to effortlessly identify potential positions that you want to trade. Graphs should be live and accurate with additional information if traders hover over certain points. Additionally traders should be able to withdraw and deposit funds without any problems and with minimum fuss.

Welcome And Deposit Bonuses

Most brokers will offer you to take advantage of a ‘sign up’ welcome bonus. These broker bonuses can’t be instantly withdrawn (for obvious reasons). Therefore, they will require you to trade a certain ‘amount’ on your account before you can withdraw the bonus.

This means traders can be required to trade anywhere between 10 to 40 times the initial deposit. Occasionally a broker may also offer you an ‘ad hoc’ deposit bonus when you have been trading on your account for some time. It is important to remember that these are not a scam, but you should be aware of any terms and conditions and feel comfortable before opting to accept them. If you’re an experienced trader and you think you will be trading a lot, then take the welcome bonus.

Note that most of the time you have to go out of your way to get these ‘welcome bonues” e.g. enter a promotional code. So don’t be put off if you think they are mandatory. The bonus deals change from broker to broker, you can see in the table above what is offered.

Final Word

So how do I actually go about choosing my binary options broker? With the above criteria in mind, take a look at the comparison table above and think to yourself what are the most important factors for me? Make a list with a few possible brokers and then read the “full reviews” to decide which is the best binary options broker for you.

Why Trade in Binary Options?

Trading of any type is associated with risks. Even binary option trading has its risks but there are certain distinct advantages of this type of trading. Unlike other financial markets, the market for binary options is simple and intuitive. All it takes is three clicks on the platform provided by the binary options broker and depending upon the contract, you get results within hours or days. Some binary options brokers allow traders to gain back a percentage of the initial capital outlay if the prediction proves to be correct. If the market moves against the trade, the result depends upon what is stipulated in the contract. In fact, this is one of the aspects that traders need to look into while choosing a binary options broker.

The forex market is a very fast paced market in which more than $100 billion worth of transactions take place on a daily basis on the open over-the-counter exchanges. One would think that such huge volumes and speculative activity would create imbalances in the market. However, the fact of the matter is that the retail forex market, the segment of forex market we are talking about, is only a small percentage of the institutional transactions that are routed through the Bank of International Settlements or what is generally known as the interbank foreign exchange market.

Institutional participants in the foreign exchange market trade mostly on behalf of their clients such as hedge funds, businesses (importers and exporters) and sometimes on their own accounts. These account for almost 80% of the total annual turnover in the forex market, which is estimated to be above $4 trillion.

In such a scenario, it is extremely difficult for a small forex trader to bet on price movements of foreign currency. It is because of this that binary options have emerged as the preferred choice for people wanting to participate in the retail forex market. A forex binary options broker provides traders the opportunity to trade binary options in cross rates of major currency pairs such as GBP/JPY, USD/JPY, GBP/USD and AUD/USD.

The forex binary options market offers the small trader the opportunity for getting a fixed return with hourly or end-of-the day payouts. A binary options broker allows traders a simple trade; all that the trader needs to do is to predict whether the price of a certain currency pair or any other asset, will increase or decrease in value.

Key To Binary Comparison Table

Minimum Deposit

The minimum deposit amount required to open an account with the broker in units of the deposit currency.

Minimum Trade

The minimum amount that can a placed on a single option contract.

Account Currency

The base currency that the account can be opened and operated in (fixed at account opening).


The range and total number of assets available for trading that the broker offers on each of the major markets.

In The Money

A ‘typical’ return offered for a standard Call/Put (higher/ lower) hourly option contract placed with the broker.

Out The Money

The type of options contracts (trade types) available for placing  with the broker.

Option Types

The type of options contracts (trade types) available for placing  with the broker. Click HERE to learn about each type of options.

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