The following table lists the brokers for binary options that are the very best at the moment. For novice traders, IQOption is very interesting. This broker puts great emphasis on customer service and has specialized on novice traders. There, you will be in good hands! However, this will also be the case at all the other brokers which are listed here! Click here to signup at IQoption now!
Nowadays the Internet offers so many possibilities which were impossible to imagine earlier. If you wanted to trade options five years ago, you had to first go to your bank. There you would have been taken seriously only if you were ready to invest thousands of Euros. In terms of some options, so many securities are necessary so that they are not interesting for an ordinary mortal. Only banks and big investors can undertake such a thing – the Internet has changed this radically so that there are also possibilities for small investors to trade with options.
Although Anyoption is the best choice in our opinion for starting, there are also many other brokers. Some of them are not recommendable, yet some others are as good as Banc de Swiss and therefore they are good alternatives. The following pages show the pros and cons of each broker and which broker suits better for which type of trader.
Criteria for choosing a broker
A broker is not chosen automatically and you should not make a decision by chance. You should think over carefully which broker you should trust and why. There are some conditions that have to be fulfilled in order to be able to trade successfully.
It’s important to trade successfully in binary options trading. It’s not possible if a broker offers an unbelievably bad payout. Imagine you receive only 50% return from options in the money and 0 % if the option is out of the money. Would it be possible to trade successfully in the long run? It’s pretty obvious that it would not be possible. Because, you would have to be right in 70% of the cases so that you don’t make any loss. If, on the other hand, there is fair payout at 85% and 0%, things will be much easier and if you trade correctly, you can generate high returns too. What is important above all is that the broker scores well in comparison with other brokers. Here, you should not compare for example a DAX option with EUR/USD, it would be like comparing apples and pears. If you want to know how good the payout of a broker is, then you must also compare EUR/USD at a broker with EUR/USD at another.
The customer service is becoming more and more important. You should simply have a good feeling when trading. You will need someone at your side in case some complications take place. Normally, at good platforms, nothing bad happens but it can happen. Then, a good customer service is a must. In this respect, the parameters for the quality are the available language (you should of course prefer your native language), the speed (how fast you can reach the support, when you will get a reply to your email etc.) and the helpfulness.
There are employees who can solve a problem in a few minutes and there are some who put you off over and over again. You will approximately get 7 emails in 3 days that your problem is being processed and that you will be contacted when there is something new. A good customer service does not look like that.
Trading platform and options
The platform is very important since you spend all the time there when trading. However, the binary options trading is so simple and there is little difference among different platforms. The platform A will not differ from platform B in a great way – in case they are big and reliable brokers that work with a commonly used platform. It’s heard very rarely that a trader does not get on with a platform at all and therefore changes the broker.
On the other hand, available options can differ dramatically (you can find an overview here). There are brokers that have the most required options only, but there are other brokers that have a wide range of offers. Especially, in case of Range and Touch options, the payout quota and the risk vary at some brokers. At some brokers, it’s even possible to construct your own options with options building sets.
Which brokers are reliable?
There are in the meanwhile numerous brokers and many traders think that they have a great choice. Basically it’s correct but if you choose your broker arbitrarily, you take a big risk. In that case, it’s highly possible that you get caught by an unreliable broker that neither takes care of its traders nor guarantees a security in terms of deposits and payouts. You should keep away of such brokers; the hardest thing is to be able to distinguish the good ones from the bad ones. If you choose one of the brokers recommended above, you won’t make a mistake. These brokers are all well established for years and showed many times that they are taking good care of their traders. They don’t have any interest in deceiving. You should imagine that established brands like Banc de Binary, Anyoption or 24Option can be damaged if rumors take place that they are working in dishonest ways. Because of this reason, such established brokers have no motivation to deceive. If you choose a broker other than them, you may be lucky and happy with your choice but it’s also possible that there will be problems, which you don’t need in binary options trading for sure.
Other (please explain below)
More than 3 days
Fast Bank Transfer/Sofort