How to Review and Compare Binary Options Brokers?
When we’re conducting our binary options brokers comparisons we use to evaluate a multitude of criteria in order to determine which providers are the best. You can find all these criteria described below. Follow these steps next time you’re comparing trading service providers.
Is the broker run by a real company? – To compare binary options brokers, the first thing you’ll have to check if legitimate companies run the operators in question. As surprising as it may seem, some brokers aren’t run by legitimate companies but instead by some shady ventures located in some weird placed such as the Cayman Islands and such.
You should obviously avoid trading at operators of this kind. However, real companies located in either Europe or the United States own most brokers that operate on the market. The quickest way to check the ownership of a company is to check the bottom of its main page looking for the name of the company that owns the broker.
After this, a quick Google search for the name of the company will reveal everything the internet talks about the respective company. If the broker did some shady things in the past then you’ll be able to learn about it very quickly.
The quality of the binary options platform employed. – Another thing you should evaluate when you’re doing binary options platform comparisons is to check out the quality of the platforms provided. A good financial trading platform should be very stable and should run smoothly.
You shouldn’t register at brokers that have platforms and trading interfaces that look like Excel tables. Most broker platforms actually looked like that 3-4 years ago, but these days a professional platform should be extremely elegant and stylish.
Types of binary contracts offered. – As you probably already know, there are multiple types of contracts on the market such as high/low-, one-touch-, boundary- and 60 seconds options. You should register at brokers that offer most of these contract types.
There are some service providers that only offer high/low contracts. Sure, most traders prefer to trade these types because these are the ones that can be predicted the easiest, however, if only this type of contract is provided then even the most enthusiastic trader will get bored after a while.
The availability of different types of contracts also influences traders’ long-term profits. If you read our complete and detailed strategy guides, then you’ll see that certain online trading winning strategies depend on the availability of different types of trading modes. The more contract types exist, the better strategies you can make.
The number of assets provided. – Another extremely important aspect to evaluate when you compare binary options brokers is the number of assets they offer. Creating successful financial trading strategies also depends on the number of assets provided by brokers.
For example, you can make pretty accurate predictions involving assets such as gold, silver and oil when it comes to one-touch or boundary contracts. This is because these types don’t fluctuate a lot and as such allow you to make accurate predictions more frequently. These contracts also offer very high payouts.
So, the idea is that the more assets a broker offers, the higher the number of those assets will be that allow you do make very accurate predictions. On the other hand, if only a low number of assets are offered, then you’ll have a small selection of assets that offer better winning chances.
The broker should offer very high payout percentages. – You’ll win in binary options when you make a right prediction. Your payout will be based on the payout percentage offered by companies. The higher the payout percentage, the more money you’ll win by trading online.
At this moment, the average payout rate offered in the financial trading business is around 85%. However, there are also service providers that offer payout rates of around 95%. In case of exotic binary options types such as boundary options and one-touch options, traders may receive a payout rate as even as high as 500%.
The broker should offer large bonuses and promotions. – An increasing number of binary options brokers have adopted the concept of bonuses and promotions. Online trading bonuses are free money rewards offered for traders who decide to register and deposit real money. When conducting binary options broker comparisons, you should pay a lot of attention to bonuses. The rule is that the higher a bonus is, the better.
Choosing a service provider that offers very high bonuses will allow you to cash in a large sum of free money when you make a real money deposit. You can use the free money bonus to purchase live contracts. Winnings that you generate with the bonus money will be treated as real money, which you can withdraw at any moment.
Final Words – Toplist Recommendation
After you’re finished comparing binary options brokers you should create a toplist based on your research. This way you’ll be able to distinguish the best binary trading companies from lower quality ones. From the toplist you should choose the broker that you like the most.
You shouldn’t necessarily go with the number 1 broker. The number 1 broker might have the best payouts and the most assets but maybe you like the overall style and feel of the website and platform used by the broker that’s on place number 2. If you feel that the second placed broker suits you better, then you should choose that one.
If you scroll back to the top of this page, you’ll notice that we also compared a number of binary options brokers. This list only contains the top 5 binary options brokers however we evaluated more than 50 brokers to make this list. We decided to only list the ones that are truly the best.
If you don’t want to go over 50 brokers yourself, then you should check out the ones that we listed on this page. Just click on their logo in order to read their detailed reviews. If you find the one that suits you the most, then just register though the red sign up button in order to get an exclusive bonus on top of the normal bonuses offered by these businesses.