Binary Option Brokers
The role of your binary options broker is very important and choosing a broker is not a decision that should be taken lightly. If you are new and wondering what are binary options, start with our article here. Otherwise continue reading to learn about all aspects of binary option brokers.
Starting with our current top rated brokers.
Top Rated Binary Brokers
|$50 Cashback BONUS
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Note: that the above is a general world list. We have dedicated top broker lists specific to many countries and regions which take into account aspects like local payments and regulation.
United Arab Emirates (UAE), Saudi Arabia
What is a Binary Options Broker?
A binary options broker provides you a foundation on which to trade financial markets.
They provide you with streaming prices (market making) and access to the assets you wish to trade. A binary options broker is responsible for settling trades, providing the platform and processing deposit and withdrawal requests.
Your broker is also responsible for holding the funds in your trading account. Meaning they are in a position of trust.
For most retail traders, your binary options broker will provide you with the platform in which you will place orders, execute trades and keep track of your positions.
Web based platforms are the most common. However a few brokers do offer streaming binary options pricing through MetaTrader 4 and 5. All brokers should offer mobile versions of their trading platform.
Great platform and pricing amounts to nothing if your broker is not able to process your payments cheaply and efficiently. Depositing and withdrawing to and from your binary options account can be easy and often free. Providing you choose a broker who has invested in these features.
Most binary brokers will offer depositing via credit card (Visa, Mastercard etc) and e-wallets such as Neteller. The better ones will be able to offer you the ability to deposit and withdraw via local bank transfer.
When choosing a broker, make sure you specify your country when asking what deposit and withdraw methods are available to you.
Demo trading accounts are another common feature provided by binary option brokers. The account should reflect real time trading conditions, including payouts, execution and price feeds.
Most brokers will require you to sign up to access the demo trading account. Zentrader is one broker that offers access to their demo trading platform with no sign up required.
Trade support is often an afterthought when selecting a binary options broker. It’s only when a trader has a problem or dispute, the importance becomes apparent.
In this day, binary option brokers should be offering support around the clock. It’s also worthwhile asking a broker their policy on resolving disputed trades.