Binary Options industry is very new and like some other markets it has some problems as well.
In this article, you will find some of weaknesses of brokers. Please keep in mind this is not the full review of brokers.
AnyOption: Established in 2009 and enables traders to trade from 31 indices, 9 currency pairs, 4 commodities, 45 stocks and 4 special Options assets. This is a great choice, making binary option trading simple for new traders. There are fees incurred to traders when trading binary options. These are when you trade Option+ that requires a 0.5 unit fee (USD, GBP, TRY or EUR). The first withdrawal each month is free. All other withdrawals after this constitute a fee to the equivalent of $30. There are known to be various loyalty offers which are offered to anyoption customers. But the website does not contain great detail of these offers.
24option: One of the bigger brokers on the market today with good reviews by clients, especially with the multiple languages to choose and easy trading experience. Their weakness is traders can trade with only 24 assets at 24option: commodities, stocks, indices and forex. This is below the current average for the binary options platforms available in the market. The withdrawal fees are very high: $30 via wire transfer, $30 via credit card and $30 via electronic wire.
BancDeBinary: The website is clean and is popular with different types of binary options traders. There are top quality features available for you to get started trading. The website is available to traders just in English, which is not enough to be competitive on the international arena and withdrawal costs are $25 via wire transfer, and vary according to other methods.
TradeRush: Their trading platform is straightforward and fairly reliable. They are powered by the Spotoption trading software. You can have support in English on the TradeRush trading platform. The deposit methods are average for the industry: MoneyBookers, credit card and wire transfer.
OptionsClick: The ability to trade in a quick and simple way is what has brought this broker many new investors. There are no trading commissions when investing on the OptionsClick trading platform. According to the website, the main payment methods are wire transfer, credit card and Ukash.
iOption: Established in the beginning of 2010. Traders have had a lot to say about the Demo, because it is free and allows you to get started in an easy way with binary options trading. You can choose from 3 different expiry times. These include 15 minutes, 1 hour and 1 day expiry times. Good for beginners, but not enough choice for the advanced traders out there.
Optionbit: In some aspects OptionBit is a leading broker. This is made possible as their website is accessible in 12 global languages. Deposit via wire transfer, Western Union or credit card into your trading account. This is amongst the least number of methods offered by any broker. There is a $30 withdrawal fee and other withdrawal fees with different withdrawal methods.
The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.