Trading binary options is not for the fainthearted, it all starts with finding a Binary Options Broker. In this Binary Options Broker Review we are searching for the broker which best suits your needs. What things should you keep in mind when searching?
Binary Options Broker Review
We review the best binary options brokers worldwide. To trade safely and successfully you need to make sure your broker is on our top binary broker list. To find your best suitable broker, we have narrowed down a list of 5 important characteristics:
- Service (helpdesk)
- Tradable assets
- Account types
Binary options are a fast way of trading options, compared to traditional options. Where traditional options are expiring every thirds Friday of the month, binary options are expiring in the range of 30 seconds to one month. That includes one minute and one day.
Why should you trade binary options? Binary options are a low level trading system of which you can perfectly learn how the financial market works. With little money, 67Option offers you to start with only $30, you can open an account and participate in a multi billion financial market.
Binary Options Broker Regulation
A Binary options broker has the ability to get regulated and prove their traders that they are a reliable source to trade with. Don’t forget that you have to bring in some money to start trading and that reliability is very important! Since almost all binary options brokers are based in Cyprus, they Cyprese authority CySEC is the regulator of service.
That is what I need you to do and that is why you should choose a binary options broker that is regulated by some financial authority. Many binary options brokers (and Forex Brokers) are located in Cyprus and are regulated by their authority CySEC. The following brokers are regulated by an authority and have therefor follow up a set of rules involving cashflow, minimum liquidity an a whole bunch more.
The mission of the CySEC is to exercise effective supervision to ensure investor protection and the healthy development of the securities market.
Do binary options broker give any service? One of their strong and unique selling points is their service. Many binary options broker offer an online chat client on their homepage and give every trader 24/5 support over the phone or by email. In addition, one on one training with an experienced trading analyst from the binary options broker is included with the account you opened for free.
Grand Option even offers a real Trading Academy, other brokers offer a free eBook explaining how their binary options trading platform works. Another important thing in trading with the right binary options broker is whether they speak your language or not.
If you are not speaking English very well, choosing another broker for speaking your language is not a bad idea since you have your money involved. This is a brief overview of the languages the support teams speak with the best binary options brokers:
- AnyOption – English, Chinese, Russian
- 24Option – English, Spanish, French, German, Arabic, Portuguese, Romanian, Japanese, Turkish, Italian, Indonesian, Korean, Swedish, Chinese, Danish, Russian, Latvian
- Grand Option – English, Spanish, French, German, Arabic, Portuguese, Romanian, Japanese, Turkish, Italian, Indonesian, Korean, Swedish, Chinese, Danish, Russian, Latvian
What do you want to trade? If you are one to keep it easy, some only offer 60 seconds forex binary options trading. No stress, no panic. One step higher you will find the wonderful people of Grand Option and Anyoption.
Offering a standard binary options trading platform where can trade options on currencies, shares and indices in several ways. The binary options brokers for more experienced traders are 24Option and Anyoption.
Their unique selling points are Ladder Options (>1250% payouts) and 24Option (professional tools). Speaking of the number of assets tradable, 24Option has the biggest portfolio.
No trader can operate the financial market without a proper set of trading tools to investigate what the market prices will do. Trading isn’t easy, and with binary options trading it is commonly seen that a newbie trader is not doing a proper analysis.
Then binary options trading with a binary options broker starts to look more like gambling in a casino! It doesn’t matter how short the expiry time is, ALWAYS open a second tab in your internet browser to take a look at the charts.
You need to learn to read the Japanese Candlesticks in order to predict the movement of the rate in a short time frame. Mentioned before: binary options broker for professional traders offer great tools. Also, the novice of traders should consider opening an account with one of these brokers to LEARN to trade.
Whatever you trading decision is, you have to use some sort of tool. Commonly used tools offered by the best binary options broker are:
- Financial news feed
- Market news
- Trading signals
- (One on One) Training
- ..and more.
Almost every binary options broker offers more than one trading account, just like the forex brokers. GOptions offers no less than 5 account types: micro, mini, standard, gold and platinum. The micro is not so interesting. Best is the mini account for newbie traders, included in this account are 4 risk free trades up to $25 per trade.
Standard, gold and platinum offer more functions for the more experienced traders with more money in their pockets: you have to deposit a higher amount compared to the micro and mini accounts. Anyoption was an example. All the other brokers have more types of accounts, which are not difficult to understand of course.
Another type is the Islamic trading account which we also can find in trading the forex and other markets. All business transactions in which one of the parties has to pay or receive an interest of another party are prohibited. Islamic or swap-free accounts are traded in any currency pair, and if a position is transferred across midnight it is commission and interest free.
Islamic accounts are created specifically for Muslims, as credit swaps and interest are strict against their religion. Accounts that are not affected by the swap allow their owners to allow positions to hold as it is needed for so long. In this case, the result of the trade will only depend on the exchange rates change for a certain period of time.
Due to this peculiarity, swap-free accounts were popular in both Islamic countries and worldwide. Many Forex brokers and binary options brokers give the swap-free service for free.
Binary Options Broker Overview
This website contains a lot of binary options broker reviews. To make thinks more convenient for you, the visitor, I have listed the unique selling points here. When you have made a choice in selecting your ideal broker, hit the green button. To read our review first, hit the blue button.
To make it even easier to you, I have put all the important things in a binary option brokers comparison grid:
|Shortest Binary options||60 Seconds||60 Seconds||30 Seconds||30 Seconds||60 Seconds||60 Seconds||30 Seconds|
|Social trading (iFollow / SpotFollow / Etc)||-||-||Yes||-||-||Yes||-|
|1 on 1 with a personal account manager with basic account||-||-||-||-||-||-||-|
|USA traders accepted||Yes||Yes||Yes||-||-||-||-|
|Regulated (Cysec / FSC / Etc)||-||-||-||Yes||-||-||Yes|
|CherryTrade website||BossCapital website||GOptions website||GrandOption website||TradeRush website||Redwood Options website||24Option website|