Binary options is one of fastest growing and most popular trading platforms today. As a consequence, there are a lot of players in the field. Before you choose your online binary options trading platform, be sure to arm yourself with enough information to make your experience successful and enjoyable.
Who’s who in online binary options trading?
The number of online binary options trading sites is growing. This means that traders can access and utilize a sophisticated binary options trading platform from almost any location in the world. Among the top performers and most favorably reviewed are Boss Capital, Banc De Binary, Redwood Options, 24Option, Grand Option, Optek, GoOptions, and CiTrades. All offer platforms for trading in stocks: high-tech, financial, manufacturing, biomedical, etc.; commodities: including oil, gold, wheat and cotton; indices: Dow Jones, Nasdaq, and S&P; and currencies (forex): including the Euro, Franc, US Dollar, and Pound.
Regulations and oversight
The tightest regulations are in Cyprus, where many binary options brokers set up shop due to its favorable tax environment. Asia does not have any regulatory agencies, but most Asian binary options brokers are registered in the European Union (EU). EU member states, such as Germany, France, Russia, and the UK have regulations in place to protect binary options traders. Residents in EU countries may trade freely on any binary option platform. Binary options trading platforms located outside of the US have fixed risk and payout and most are not allowed to market to US customers unless they first register with the Securities and Exchange Commission (SEC) or another regulatory agency. There are no specific regulations for binary options brokers in the US, although binary options are now listed on the exchanges, such as the Chicago Board Options Exchange and Nasdaq, and are therefore covered under the regulations and transparency required of the exchange.
How to choose your online binary options trader
These should be your top priorities when looking for a binary options broker:
• Ease of use of their online interface
• User education: information for beginners to the binary trading world
• Full package of trading options
• Multiple banking options, quick processing of cash-out requests
• Customer support
Banc De Binary: a leader in the binary options trading industry
Banc De Binary consistently places among the top reviewed binary options brokerage firms. It meets all of the criteria listed above, is regulated under the EU, and holds a Cyprus securities license.
Ease of use and user education: Banc De Binary uses a cutting-edge internet trading platform that is safe and easy to use, with access to industry information, education and training materials to help new traders make educated decisions.
Trading options: Banc De Binary offers trading options in currencies, stocks, commodities, indices, and pairs.
Banking options: Banc De Binary makes it easy to deposit and withdraw funds via bank transfer, or money transfer agencies such as Western Union or MoneyGram. All credit cards are accepted. It offers Skrill, a web wallet account, for handling trades to those who prefer to keep their trading financial records separate from their bank records.
Security: Banc De Binary uses the most sophisticated encryption technologies to protect private data.
Customer support: Banc De Binary offers 24/7 customer service through chat portals, email, skype and telephone. It deals in a number of languages: English, German, Spanish, French, Japanese and Arabic.