• How to Choose the Best Options for Brokers: Expert Recommendations by Traders Union

    | Updated on May 4, 2023

    Money-making has always been a dream for the human population. Some of us achieve the heights of the sky, while some of us stay on the ground crying for our luck to work for us. The decision completely depends on you. There are various practices involved in money making. Businesses, services, manufactured, and whatnot. You should never be afraid of trying out new things and diversifying your operations. Who knows what brings you the glory? 

    If you have ever searched for making passive income or getting a higher return on investments, you must have heard of stocks, bonds, mutual funds, trading, etc. It is true that you can get an impressive amount of gains through this option. However, to enter this field, you would be needing to contact a broker.

    But the problem is that there are plenty of fish in the pond, so how to choose the right one for yourself? Traders Union has identified how to choose the best binary options broker and made a rating of the top companies. With the expert guidance provided by the Traders Union, users can make informed decisions to enhance their trading journey.


    Giving this discussion a head start, we will start with the bullet points that you should keep in mind before hiring an intermediary for yourself. 

    How to Choose the Best Binary Options Broker?

    Since the US government gave the green light to the regulations of binary trading, there has been a flood of online brokers available for people out there who dreams of becoming an investor in the near future. Lucky you that you have got us to guide you to the right path.

    Authenticity of Broker

    You must not be lenient while choosing a binary options broker. These are the head-earned money that you are going to invest by trusting someone’s skills. The Finance industry suffers from a number of frauds day by day. Therefore, governments of different countries set up some regulatory bodies in their respective countries to eliminate any chance of fraud. 

    Make sure that your binary options broker is authenticated by those bodies. Agencies like CySEC, SEBI, ASIC, and many more are some examples of these bodies. They have the authority to set up rules and regulations for the operations that will be carried out throughout the trading process, and you should only trust the brokers who are affiliated with them.

    Customer Service

    Customer service plays a significant role as it is the only connection between you and your broker. In case of any unfortunate incident, or even if you are stuck in a problem, there should be an expert team that can guide you through the misery. The service should be capable of resolving all the issues that a consumer can have.

    Moreover, there should be proper contact details that inform you about how you can reach out to the executives who are assigned to your duty. Trading and investing is a long process and require patience for years. Therefore, if the customer care service does not suit you or you feel unsatisfied with their service, you should not choose that binary option for yourself. Explore the internet and find the one that suits you and your needs. 

    Compare the Bonuses

    Every booking platform pays out some bonuses and incentives to attract customers. With different platforms, terms, and condition also varies. For example, Firm A gives out a $5 bonus for those people who are investing first time through their platform, while Firm B gives out a $10 bonus. The sole motive here is to attract more and more investors to their platform.

    These incentives and bonuses can add up to a large number in your account. Moreover, the fees they charge on every gain or transaction also vary with respect to their terms and conditions. Here are a few things that you should notice:

    • Initial Deposits
    • Bonuses
    • Incentives
    • Deposit bonuses
    • Referral Bonuses (if any)

    Age of the Binary Broker

    Let us understand this issue with an example. Suppose you are in a position where you have to lend out your work to one of your employees. One of them is a well-experienced, 2 or 3 times employee of the month. While on the other hand, there is a new employee with a minimum experience of a few months. 

    Now the deciding factor will be what degree of significance that assignment holds. The same goes while opting for a binary options broker for yourself. Obviously, since there is your hard-earned money involved with the task, which might share immense significance for you, you should give that money to a well-reputed and experienced firm. 

    However, if the amount is not that big, you can choose to take a risk and give the younger firm a chance to show their talent.

    Customer Reviews and Feedback

    While you visit your broker’s website or download their platforms on your mobile devices, there is always a section dedicated to the reviews of their website that showcase their positive side. We recommend you do some research on the internet independently and then find one option for yourself. You can find a number of lists that ranks binary options brokers on the basis of their service and customer reviews. 

    Read their terms and conditions and also the customer feedback to learn about their functionality.

    These were some important aspects that you should keep in mind before finalizing one for yourself. Do not rush while making a decision, as trading and investing involve a lot of risks. In the next section, we will name some of the best players out there in the market, among which you can choose one for yourself.

    Best Binary Option Brokers

    Quotex

    Quotex is a popular brand in binary options trading. You can visit their website or do independent research on them to know more about their terms and conditions.

    IQcent

    IQcent is currently leading the market of binary traders as its name holds a vast reputation. It can diversify your portfolio with amazing gains and profits. Their easy-to-use and excellent customer care service leaves their client fully satisfied and happy. Their users obtain access to the following instruments, including binary options, CFDs on stock indices, gold, silver, currencies, cryptocurrencies, and many more.

    Binomo

    It is one such volatile arbitrage website that includes brokers and related services. There you acquire training, analytics, and client support.  Moreover, Binomo is handled by Financial Commission. With the usage of Binomo, you can evaluate the real market situation and figure out the level of risk.

    VideForex

    VideForex is an international forex broker. There, you can trade all over the world at the Forex market.  On top of that, you will gain more than 100 instruments and learn methods to obtain passive income. This company regulates the user’s activity and secures personal data. Lastly, the brokers of Forex offer varied methods to deposit and withdraw funds. 

    RaceOption

    Race option; a binary broker which includes international financial services. There you will get optimal trading conditions for assets and get binary options to make money. Furthermore, you can have access to referral programs and bonuses. Brokers of RaceOption conduct trading competitions among traders on a regular basis. 





    Author:
    Suchi Goswami
    I am a BA English(Hons.) graduate and a theatre student from Delhi who loves sharing knowledge of domains related to Business, Technology, Social media and Lifestyle in the form of writing.
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