We’re probably getting a bit of ahead of ourselves here as your induction into the world of Binary Options has just begun, but for those eager to have a look at some of the platforms offered by the various brokers out there you can switch tabs and navigate to our Broker Review section where you will find links to and reviews of our recommended top brokers for the trading of Binary Options.
When searching for a broker to start trading with the following are important features to look out for.
Minimum Deposits: An industry standard is generally between $250 to $500. It might make sense to look for brokers that allow you to make minimum deposits of less than this, however, we would advise that a broker with a minimum deposit much less than $250 probably isn’t terribly big in the game or even reputable to be letting you start trading such little risk capital.
Look out for features such as In/Out boundary, which is great for ranging markets (more on this later).
Also keep an eye out for Touch/No Touch Options, which are great for trending markets (again we’ll cover this later too).
Look for early closure on trades. This is a great tool to have as it allows you to sell back an option that is not going your way back to the broker at a reduced rate rather than loosing the capital you invested on it.
Also, some companies offer personal broker services for customers who deposit over a certain amount (usually around $5000). These persona; trading managers will help you get your trading game on point, they’ll provide you with personal trading signals on a weekly or a daily basis and also help you with your money management strategies.
Last but definitely not least look out for firms that offer you a free demo account. Many will give you this after you make your first deposit but some do not have this feature at all. A demo account is essential for getting to grips with the brokers platform and with how the markets work in general. You get to place trades with play money which is a great way to build your confidence up and get yourself used to reading those upward curves.
Now Binary Options may or may not be for you, but then that’s what these tutorials have been created for. Read on, find everything there is to know about this exciting new financial instrument and we are certain that you will be able to at least make an informed choice as to whether or not you’re interested in trading like a pro.