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Author: Jacob Bailey
Market Analyst
Jacob Bailey

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If you want to trade binary options with a broker that is both intuitive and profitable, look no further.

The benefit of the broker is that they help you to maximise your trading goals. Whether you want to operate on the go using a mobile device, get bonuses for trading large volumes or learn how to trade effectively with their education centres, they are all competing to offer a better service, and this is good news for you.

In this article, you will learn:

  • All the features you should look out for
  • About add-ons, like bonuses and demos
  • The impact a good broker has on profit

Binary Broker Features

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There are so many features of a binary options broker that we could be here all day explaining them all. Here are some of the top features that you should look out for when making your decision:

Licensing And Regulation

Licensing is often a priority for many traders. You need to know when selecting your platform, that they are a genuine business and that your money is going to be safe. There are some key things to look out to determine whether you can trust a broker. Always look for their licensing information, if CySEC licenses them this is a good indication of a reputable company.

You can also look at online reviews to see the various feedback. In addition to this, you can be confident in the knowledge that we only recommend the best brokers that are both safe and reputable.

The Demo Account

What is a demo account and how does it work? Well, this feature allows you to test a platform before committing any of your own money. Usually, you will be credited with $10,000 as an example. Now, this is not real money but virtual funds. You then use this money to practise trading on the platform. You are not placing live trades; this is a simulation of live trading to help you understand the various features and functions and what it feels and looks like to trade.

Usually, there is a restriction about how long you have to use the demo platform. Then if you like it, you can deposit your own money and trade for real or get someone else to via a managed account.

Good Payouts

Quality Payouts are absolutely a consideration when choosing a broker site. You want to make sure that you are maximising your potential earnings. All these firms offer a range of payouts, some much higher than others. Some look too good to be true (and often they can be), and some seem lower than average. We give you the relevant information to assist you in making your decision.

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Bonus And Welcome Deals

The bonuses and incentives offered can be a deal breaker for many. Most people love getting something for nothing and the more attractive the offer, the more you may feel drawn to that particular broker. The bonuses offered vary significantly from broker to broker, and other features of the platform should be taken into account. Ultimately to stay competitive and win their share of the market, some bonuses can be very generous.

Most brokers think nothing of offering a 100% match deposit bonus as a reward for you depositing your cash. There are criteria you need to be aware of though. A bonus may seem like free money, but you must understand that it cannot be withdrawn the minute it is rewarded. Some companies stipulate that you must trade the bonus cash a certain number of times before it can be withdrawn.

If you are new to trading look out for no deposit bonuses. This type of reward means that you can sign up to an account and get a gift without risking your funds. Only use the bonus to practise and get the hang of trading before you decide to deposit your funds. Used in conjunction with a demo account, a no deposit bonus can allow you to get to grips with the features of the platform and trading before you encounter any risk at all.

What Makes a Great Broker

From the payouts that they offer to the format of their trading platform, you should be looking for those that provide an excellent all-around package. They may not give the best bonuses, but their payouts more than make up for it. Their site may not have all the bells and whistles, but it provides everything else you need. Let's take a look at the key things that make a good broker:

  • An intuitive website that is easy to navigate
  • A site that is mobile friendly, enabling you to trade on the go
  • Good payouts that aren't too high that they look too good to be true
  • A good demo platform that allows you to get used to the site before trading your funds
  • Good bonuses and loyalty rewards
  • Education tools to help you become a better trader
  • An easily accessible customer support service
  • Licensing and regulation from a recognised body

Now while this is a comprehensive list, it is not exhaustive, and you may have requirements that aren't on this list. We are here to help you select your preferred brokers so that you can make a decision based on real facts.

The benefit of the broker is that they help you to maximise your trading goals.

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We Find The Best Brokers

Our job is to find the best broker sites and present them to you with all of the facts. To do this our team of experts trawl the world wide web looking for only the best binary options brokers and check them out. Now when we say "check them out" we mean putting them through their paces, and that means all types, even Forex platforms and CFD brokers.

As experienced and successful traders ourselves, we spend time trading on the multiple platforms, making sure that every broker complies with a list of criteria. The requirements include everything from welcome bonuses to licensing and regulation, in addition to the payouts and whether they have a good customer support system.

It is imperative to us that you get the best trading experience possible and therefore we only put our name to brokers that we know are excellent. They must be trustworthy, and they must offer a superior trading experience. They may not be as good in some areas as they are in others, but every trader has different requirements. We just put the information in front of you in a format that is easy to digest and that allows you to make the most informed decision.

Frequently Asked Questions

FAQ

Is options trading regulated and safe?

The key is to choose a company that is licensed by a reputable source like CySEC; this licensing is safe and approved and means that your broker will be reliable.

Can I trade without downloading software?

No, in most cases merely log in and trade. If you wish to conduct automatic trades, then you will need to download binary options robot software.

Do I need to start trading with real money?

No, many now offer demo accounts where you can sign up and trade with virtual money before risking your own money. This virtual account is sometimes only available for a limited amount of time, like 48 hours.

How do I make deposits and withdrawals?

Most brokers accept major debit and credit cards like Visa and Mastercard as well as other widely used payment methods like PayPal. When withdrawing funds, it is usual for the funds to go back to the same payment method as the initial deposit.

What is a binary broker welcome bonus?

The bonus varies from but is usually a percentage of the initial deposit. Some offer a no deposit welcome bonus which allows the trader the opportunity to trade with the bonus before they use their own money.

Meet The Author
Jacob Bailey
Jacob Bailey
Market Analyst

Jacob has been an author for us since our launch in 2012. He has over forty years’ experience in the financial sector and has held a variety of positions within financial services corporations and venture capitalist organisations. Learn more.

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