How to choose a binary options broker

Posted by OliverPearson 0

How to choose a binary options broker

To choose a binary options broker is not an easy task as it may seem at first. This is what I learned from my personal experience. It turned out that some brokers are not so good, nice, convenient and approachable as they promise.

When I invested in the binary options, I had to deal with a great number of companies. I hope my experience that I want to share would help you choose a good broker.

How to choose a binary options broker?

The first thing you need to pay attention to is if a brokerage company has a certificate or other approvals.  Dealing with the firms which are officially approved no matter they are on the binary options or stock market is always better.  The brokerage companies get the certificates from special organizations, for instance, in Cyprus, this organization is called CySEC.  To get the certificate, the brokerage has to pass different checks and meet the standards.

However, the certificate is not the only criteria important in choosing a binary option broker.

Though the binary options are based only on the selection between CALL and PUT (UP and DOWN), choice of an English speaking broker would make your task much easier.   

And it’s not just because the interface on the website is more convenient in this case. If you choose an English speaking broker, you can always get support from the helpdesk. This is especially important for a mid-age people and novices making the first steps in the world of the binary options.

All people understand the information in their own way that is why it’s so important to get help in your native language.  By the way, after you register with a brokerage company, a consultant gets in touch with you to explain how to invest and givesanswers to your questions.  In the event you choose an English speaking broker, you can understand what the consultant tells you which means that you would avoid confusions possible if your consultant, for instance, speaks French.  

A NOVICE AND EXPERIENCED BROKER IS JUST THE SAME AS A CHESS PLAYER AND A GRAND MASTER

Many starting brokerage companies do not have certificates as they are granted only after 3 to 5 years of running the business. Moreover, these firms often delay payments.

Besides, I’ve seen recently a lot of headlines about binary options brokers closing down.

Also, the deposits were not paid there. That’s why, deal with the best, time-proved and reliable companies enjoying high reputation at home and abroad.

Among the top companies on the market, I would recommend AnyOption. This is the first binary options broker in the world having EU, MiFiD, FCA and many other certificates. It’s also regulated by Ministries and banks. To choose the right broker is crucially important. Also, a unique underlying asset is a plus. For instance, LG stock is available only with AnyOption.

The choice of the best is a habit leading to success  

 

The brokerage companies and regulators are as follows:

AnyOption

EU (European Union)
MiFID (The Markets in Financial Instruments Directive)
FCA (Financial Conduct Authority)
BaFin (German Federal Financial Supervisory Authority)
CONSOB (Commissione Nazionale per le Società e la Borsa)
CNMV (Comisión Nacional del Mercado de Valores
CySEC (Cyprus Securities&Exchange Commision)

24option

CNB (Czech National Bank)
FCA (Financial Conduct Authority)
BaFin (German Federal Financial Supervisory Authority)
CONSOB (Commissione Nazionale per le Società e la Borsa)
CNMV (Comisión Nacional del Mercado de Valores
CySEC (Cyprus Securities&Exchange Commision)

Grand Option

CNB (Czech National Bank)
FCA (Financial Conduct Authority)
BaFin (German Federal Financial Supervisory Authority)
CONSOB (Commissione Nazionale per le Società e la Borsa)
CNMV (Comisión Nacional del Mercado de Valores
CySEC (Cyprus Securities&Exchange Commision)

 

I believe that these brokers are worth trust as they are the top companies on the binary options market. They offer the best terms and, consequently, they are the most popular and in demand.

Just think that to get the MiFID or CySEC certificate, the company must be in business for at least 5 years. Besides, there are such requirements as a wide custom base, licensed data security, branch offices in many cities and countries, 24/7 support etc.

If the requirements were not so high, any company could get easy the certificates but could it be trusted?

If you choose a certified broker, you are sure that your data is secure, you’ll get the answers to all the questions, and the terms of trading, payments and cash withdrawal are thought out.

By the way, the CySec certificate not only entitles a broker to conduct transactions on the financial markets but also protects the traders’ rights.  Really, CySec can protect a trader if disputable issues arise like indemnity in case a broker supposedly paid a trader, but he doesn’t receive the payment or in case if a broker declares bankrupt.

Indeed the brokers usually intend not to dispute with CySec, but at least they are approved by the commission and hence can be trusted.

Choosing a broker, you need to take into account the website design as well. Needless to say, the design is not a major point but with all other things being equal, a good convenient design can have a serious impact on the choice.

For instance, if we compare AnyOption and other brokers’ websites, we can note that the site is in light shades. Moreover, you can view four charts simultaneously on AnyOption’s website.  This can have a beneficial effect on binary options trading.

This depends upon what you prefer. That’s is why I can just advice that you do what you like, not what other like.

 

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