The growth of binary option trading has lead to the demand for professional and reliable binary option broker. Choosing a binary option broker which will provide a solid binary option trading platform is a difficult task. Every investor prefers to trade with the best binary option broker. The first step for selecting the best binary option broker is to prepare a checklist. With the help of this checklist the trader can know which broker offers good customer service, good payout percentages, etc.
Best binary option broker will have easy to use programs that can be used whenever and wherever the traders wishes to do. It is required that the investor should look into the following areas before choosing a best binary option broker:
How to select a Best Binary Options Broker
Maximum payout percentage: A best binary option broker is one which will offer minimum 75-90% payout for every winning investment and a minimum of 5-10% for every unsuccessful trade.
Variety of languages: Apart from offering the language in mother tongue, a professional broker offers the language preferred by the investor.
Minimum initial deposits: Registration for opening an account should be free with minimal deposit.
Payment variety options: Best binary option broker is one who offers multiple forms of payment and withdrawal options that suits the trading needs of the investors.
Bonuses and offers: Start bonus up to 25% or more is offered to new comers.
Good customer support: Professional services in mother tongue are offered to the traders via email, phone and live chat.
Company background: The binary option broker should be legitimate.
Security of funds: The broker should have separate account to maintain the funds of the investors and the investor should feel confident about the dealing of their funds.
Data feeds: Data feeds is an essential part of trading as the information of the broker should be displayed on creditable source such as Bloomberg, Reuters, etc.
Apart from these areas, the other factors to be considered are:
Widest variety of contract offerings: The broker should have one touch, no touch, inbound and outbound barrier options. For example, Option bit and OptionFair offer this facility.
Widest number of stocks: The broker should have multiple assets to trade. Example of one such broker is TradeSmarter.
Shortest contract duration: A broker with binary option expiring within every 15 minutes on assets is considered to be one of the best binary option brokers. Example is Traders Room.
Best cash incentive offers: Broker with most profitable and rewarding bonus cash offers is preferred by a trader. Example is EZ Trader.
Highest allowed investment exposure: Unlimited trading position exposure is an important criterion which cannot be overlooked.
Smallest cash transfer fees: There is frequent movement of funds in binary option trading. So a broker charging nominal cash transfer fees is preferred by the investors.
Some of the best binary option brokers are Any option, Option Fair, Option bit, Trade Rush. Finally a best binary option broker is one which has trade open for both US as well as non US traders.