Binary trading platforms are provided by binary options brokers and allows traders to either trade over-the-counter (OTC) or exchange traded binary options. In our table we compare both types of binary options brokers.
The Best Binary Options Brokers
To identify the best regulated binary options broker, it would depend on the specific needs of the investor. To select a regulated broker, an investor should consider the size of their average investment and the asset class they want to invest in, as two components of a whole range of factors to consider.
We here at binaryoptions.net.za have compiled a useful list of facts to assist an individual with selecting the broker to open an account with. From analysing the most frequently asked questions, we know what features are important to consider:
- What is the Minimum Deposit?
- What is the Minimum trade?
- Does the broker offer a Demo Account?
- Does the broker offer a signals service?
- Does the broker provide trading via a mobile app?
- Is there a Bonus available for new trader accounts? (Terms and conditions are equally important)
- Who has the best binary trading platform?
- Which broker has the best asset lists?
- Which broker has the largest range of expiry times?
- Who are the regulated binary options brokers?
- What types of options are available? (Touch, Ladder, Range, Pairs etc)
Within each broker review these questions will be covered in detail, however we will also answer as many of these as possible in our broker summary table.
Regulated Binary Options Brokers.
Regulation is a key issue. Our comparison table will indicate whether a broker is regulated, and in the detailed broker reviews it will specify who the responsible regulator is. The Financial Conduct Authority (FCA) in the UK regulates various brands, not necessarily all binary trade options, but because they also allow clients to trade Contracts for Difference. Although some binary options brokers may have chosen to register with the FCA, is it not the same as being regulated by them. FCA regulation gives peace of mind to UK traders.
Binary Options Demo Accounts
Sign up bonuses and demo accounts are two factors designed to entice new account holders. They are both very effective in attracting new traders for obvious reasons.
Bonuses for a set amount are generally paid once a set number of trades have been settled, or can be paid as a deposit match. For both options restrictions apply, and terms and conditions have to be met before the funds can be withdrawn. Before signing up spend time understanding these terms. Should the chances of meeting the terms be low (for example it is not possible to have a certain volume of trades within the first few weeks), then there is no point to that bonus and the broker would then not be the best choice. Some terms even applies to withdrawing the initial deposit, not just the bonus funds and although these restrictions are rare, t’s & c’s should to be checked before signing up.
Demo accounts are the best way to become involved with binary options for the first time, without having to risk real money. Investors who wish to trade long term should ensure that they select the right broker, before trading with real funds. Do not simply accept the first proffered demo account with a big starting balance.
A minimum deposit requirement may be of interest for investors getting involved with binary options for the first time. A broker with a small deposit requirement would be appropriate for those looking either to experiment, or only risk small amounts. At the same time brokers will have a minimum trade requirement as well, however these vary hugely. For the investor who is not concerned about this, these factors need not be included with their selection criteria. The minimum trade figures can range from as little as £1 to £25, which a frequent trader would have to consider. An easy comparison of trade sizes for each broker is highlighted in our comparison table.
Binary Options Payouts
The payout percentage offered is a key element in finding the best binary trading accounts. It is not a straightforward comparison as payouts will depend on the length of the trade option and the asset being traded, and the payouts could move as well. At any one time a broker who originally had the best price may not be the best option any more, with things that change in the broker market.
An investor should decide on the preferred type of trades, and then check for the firm that offers the best terms most often, for that type of trade. For this demo accounts is again an ideal solution. Payouts cannot be compared for over the counter brokers versus exchange traded brokers. Generally though, exchange traded options provide better payouts.
As can be seen from above, it is not easy to select the best broker and best trading account. However an investor is free to change from broker to broker should an account turn out to be less fruitful, and a trader can also have multiple accounts with open trades at various brokers. At no time should a trader feel tied down.
To help choose the best binary options broker, our website provides lots of information and here’s a selection of articles that could help:
Read our detailed reviews of every broker, including payouts, range of options and assets, regulations, plus additional features such as binary options charts and education. You can click on each review, next to the relevant broker in the comparison table.