Binary Options – Trustworthy brokers
There are many brokers and therefore, many traders; so newcomers must consider that they have a lot of brokers at their disposal. But if a trader arbitrarily picks a broker, a big risk is being take. In this case, it is highly possible to choose an unreliable broker which doesn’t have a good relationship with its traders or any sort of guarantee in terms of security of payment and deposit. It is recommended to get acquainted with whichever are the most trusted brokers at the time.
Some of the most trusted brokers are 24Option, OptionBit and OptionFair. They require a minimum deposit of $250, $200 and $250 respectively. Also, all three of them offer demo accounts for newcomers.
If a trader selects one of the brokers recommended above there’s little room for mistake. These brokers have been established for years and have repeatedly shown to be of quality regarding their traders. They can be considered some of the most trustworthy brokers at the time; but just like everything on the binary options market, variables are very volatile and a broker might declare bankruptcy overnight. This is why traders must be aware of any sort of suspicious movement made by their broker. The already-mentioned most trusted brokers have no interest in deceiving customers whatsoever.
It is important to be able to maintain a streak of successful transactions while trading binary options. And that is not possible if a broker offers an awfully bad payment rate. Imagine that the trader receives only 50% return of the trade in their account, and 0% if the option is out of the money. Would it be possible to succeed in trading in this manner in the long run? It is quite obvious that this would not be the case. Traders have to be successful in 70% of their trades just to get even. If, on the other hand, a fair payment of 85% and 0%, things would be much easier if trading is done correctly, also it could generate high payment rates.
Overall, what’s important is that the broker has a good position when compared with other brokers. In this market, traders should not compare, for example, a NASDAQ stock with an EUR / USD stock, it would be just like comparing dogs and cats. If traders want to know how good of a pay the broker is offering, then they should compare EUR / USD on a broker with EUR / USD in another broker.
Customer service is also becoming increasingly important to determine whether a broker is trustworthy or not. In this area, the quality parameters stand in whichever language is available, speed of service and potential helpfulness provided by the customer service employee. There are employees who can solve problems within minutes and there are those who postpone the issue until the customer gets tired. It can also happen that the trader gets a certain amount of emails for several days stating that the problem is being processed, and that the client will be contacted when there’s some progress on the issue.