By Royce Kamari
With the potential for large money income, binary option trading has taken place on a big trip throughout the world. From a handful of binary option brokers in 2008, we have around hundreds of them available today. You will entrust your money to the broker to continue trading. Therefore, it is very important for you to identify the best binary option brokers from small and unreliable.
Binary option trading first began in 2008 at the Chicago Board of Exchange. Like the recommended name, the binary option, is a derivative contract with only two possible results on the end of the contract i.e. You receive cash / assets if the contract is ‘in money’ or nothing else. For example, suppose you buy a call option from Share ABC Ltd. With a price of $ 30 strike and binary products $ 300. If the stock price is above $ 30, your contract is ‘in money’. With a ‘in money’ contract, we intend that you are in a profit situation because you can buy stock for the price of $ 30 strike and sell it at a higher price (current price) and generate profits. In such a scenario, in the binary option contract, you receive a fixed binary result of $ 300. In each other scenario, you do not accept anything and lose the purchase price of the contract. The underlying assets can be stocks, indices, commodities and currencies. Make consistent profits from trading in binary options depending on the accuracy that you can predict the asset movement during the contract period.
Here are some important tips for narrowing your search to the best binary option brokers:
• Select the arranged broker: the arranged broker is what has obtained a license and is governed by the supervisory authority in question. Choosing a binary option broker that is set will benefit you in many ways such as, payment protection if there is a broker bankruptcy, the use of funds and the right authenticity of the contract.
• Access: There are several brokers that prohibit US investors from the binary option contract trade. If you are a US investor, you will want to check this first before continuing to evaluate the broker on another parameter.
• Record Track: Select a broker with at least one year from a leading transaction. Avoid choosing for a new broker. The more experienced brokers, the higher their credibility because they have been able to survive in this industry.
• Reputation: Before choosing any broker, make sure to check the reviews / complaints users who will give a fair idea about the reputation of the broker. Choose a broker that has good reviews and fewer complaints.
• User interface: because all your transactions will be online, become accustomed to the broker website interface. The interface that is easy to use and navigation will simplify things and help you make investment decisions easily.
• Number of options: There are a number of variants of options including 60 second options where the option ends after one minute or one touch the binary option where you must predict whether the price of assets will at least cross the price specified before during the time of use. Brokers that offer a number of larger option variants are useful for opening more income opportunities.
• High payment: a higher payment means a lower commission for brokers and clearly higher profit parts to you. Most brokers generally offer payments of 80-85% if the option is ‘in money’. Some brokers offer payments of 10-15% even if the option exits money. Choose a broker with a favorable payment.
