Make sure to carefully peruse every binary options review to find out what the brokers offer and how suitable these offers are with your demands. Binary options reviews are an excellent way to research different brokers using different perspectives and methods. Reading as many binary options reviews as humanly possible will provide you with a major dose of information and understanding of the nature of the market.
There are several competing variable to determine the best binary options broker. One of the most important facts is whether the broker in question is regulated by a globally recognized financial authority. Most brokers seek for regulation and licensing from day one, but this usually takes time and money.
The binary options industry sees new brokers popping up like mushroom after rain. A clear majority of all binary options brokers are unregulated and unlicensed. The regulated ones are typically based in Cyprus and thus regulated by Cysec with offices in the British Virgin Islands. Unlike in forex, binary option’s is a new industry and prospective clients understand that regulations lag behind. Therefore their focus is on other aspects such as whether the broker has a good trading platform and how big the payouts are.
Payouts make all the difference in the world. Regardless of licensing or lack of it, the most important thing is the payout percentage and what the final returns are and the best binary options brokers have understood this. You should make sure payouts are at least 65% to 70%, otherwise we would advise you to change your broker. The highest payouts on the PUT/CALL options go up to 95%. With one-touch trading, payouts can go as high as 500%, but this is rare. Most brokers offer payouts between 80-90% and the differences are often quite marginal.
Brokers Trading Platform
In order to determine which platform is the most suitable for your trading requirement, make sure the broker in question has a free binary options demo account. There are many several types of trading platforms offered. When it comes to the best binary options platform, the jury is still out. Another important thing to remember is that most of the trading platforms are web-based. Almost all platforms are either SpotOption or Tradologic trading platforms. This means that the differences between the platforms are not major. Therefore testing the best binary options demo platforms is a worthy pursuit.
Brokers Asset Selection
If you are a skilled and experienced binary options trader, it is obvious that you choose a broker that offers the underlying assets you are familiar with. These assets are divided into currencies, stocks, commodities and indices. The amount of assets a broker offers is an important fact when trying to find the best options broker. Most broker offer between 30 and 100 tradable assets, but we recommend that you pick a broker that offers assets you are comfortable trading.
Brokers Customer Support
Never underestimate the importance of a capable, friendly and efficient customer support. Customer service is the key to a healthy and happy client-business relationship, regardless of the industry. With binary options trading, this relationship is even more important because the exchange between the client and the broker is carried out electronically and almost never in person. To determine what the best binary options broker is, make sure to give the customer support a hard time and see what the response will be. If our past experiences are any indication, the level of service says a lot about the level and professionalism of the broker as a whole.