Finding a Binary Option broker is not a difficult task at all but choosing the right Binary Option trade is definitely a must.
Binary Option has gained a lot of popularity in recent time because it helps in making quick money but what most of the people forget is that they can be highly dangerous and the base capital can be lost within seconds. Everyone wants to deal with the best broker who is reliable because of the scams which were highlighted in recent past so here are a few points that should be taken care of in order to get the Best Binary Option Broker in 2017.
- First and foremost an important thing is go through the reviews. Do not read the bad or the best reviews, read the reviews of people who have given the average rating as they know about the pros and cons of the broker. If you find any critical review, then it is time to find a new broker. Also check if the broker is a legal entity or not.
- Ask the broker if they provide a free demo account as the product can only be understood after using the product. As it is said, don’t judge the book by its cover, same is with the broker’s platform. Try and use the demo module thoroughly.
- Read the terms and conditions properly as you should be aware of margin requirement, pay out percentage along with important details like brokerage charge which could impact the profitability of the trades.
- Another important thing to check is the features that the broker is offering. Like every broker offers the charting tool but the features on the charting tool can vary a lot from one broker to another.
While choosing a broker, if you take care of above mentioned points, you will surely be able to find a broker who is worth your business.
difficult job. It is hard to understand the features offered by individual brokers and the features can vary widely. Some may offer important features and other may not have them in their platform. Here is a list of features that some of the Best Binary Option Brokers in USA has –
- Extended Expiry – One of the newest feature lets user extend the expiration of an open position by 10, 20 or even 30 minutes. This does insures additional cost but the feature can help in booking profits and limiting the loss.
- Quick Options – This is more like traditional binary trading but the difference is that in quick options, the time difference between the bid and the expiry ranges from 1 minute to 4 minutes with an interval of 1 minute. The helps in quick and easy analysis.
- Limit Orders – A brokerage platform without the ability to place a limit order is like a body without soul. This feature allows the trader to execute an order when the price falls below the limit.
- Candle sticks – Candle Sticks are must for any analysis and the support for candle sticks should be provided in every trading platform. The platform should also be enriched with the ability of changing the interval of the displayed graph.
- Mobile application – Not all brokers have mobile application for binary option trading that is compatible with IOS and Android hence that should be checked before finalizing the broker as some people rely on handhelds for trading.
This is a short list of features that are offered by some of the best Brokers in United States and a trader should look for these basic features while selecting a brokerage firm.