Binary Options have become an increasingly popular way of speculating on the future price movements of financial assets. Their simplicity and high profit potential has seen more and more people taking advantage of the benefits of trading with binary options. Choosing a binary options Broker is essential to your trade. Here are some basic things to consider when choosing a binary options Broker:
The Broker’s Platform: It is important to assess the trading platform that is offered by a broker as this will be the interface by which you place your trades in the market. You not only need a platform that is simple to use and won’t see you making trading mistakes (clicking Put when you meant to click Call), but it is also important that the software is responsive.
Range Of Assets or the Asset Index: The range of assets offered by most binary options brokers is pretty comprehensive. You will be able to trade market indices, stocks, commodities and currency pairs. You can usually find the full range of assets offered by the broker under the listing ‘Asset Index’ on a broker’s website.
Option Expiry Times: Almost all of the brokers offer the chance to trade hourly and “end of day” expiry rates, which are sufficient for most traders strategies. However, as the range of contracts offered grows, lower time frames are being introduced by many of the major brokers.
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.