Wednesday, August 28th, 2013 by Tim Lanoue
The objective of this article is to enlighten traders of what they should know about binary options brokers. There will be four focuses we will cover concerning the signup process, bonus offers, regulation, and withdraw features. Not only will this reading supply you with more knowledge but also the increased ability to choose an overall better broker for you to begin your trading endeavor.
The first area of study we will cover is the signup process with binary options brokers. Have you ever noticed that after you sign-up with a broker how fast they are to get back to you about your account details? Not to mention that if you did not make a deposit they are all about you quickly making a deposit. Oftentimes you are contacted by a high pressure sales person who gives themselves the title of your account manager. If you planned on just signing up to see how the platform runs don’t be surprised if they try to pressure you to make deposit, not only can they be irritating but they are also persistent.
The second focal point we look at would be bonus offers. Bonus offers are like boxes of chocolates, they come in all shapes and sizes however, in the long run they are not the best for you. Oftentimes these bonus offers include an unspecified term and conditions which oftentimes fools the traders to take the offer. What many new traders don’t know is that oftentimes if you accept a bonus you are unable to perform a withdraw until a certain volume of trades has been executed. We call this situation “locked in,” because you are locked into your account until that volume of trades has been generated. Unless you are an experienced trader with a great track record, these bonuses should never be accepted.
Next thing we look at is regulation, is the binary options broker we are signed up with regulated? Regulation is a growing concern for traders who are interested in trading binary options and undecided about which broker they want to become a part of. Many traders who have been trading for many years were left with a sour taste in their mouths after the incident with Banc De Binary. So when it comes to finding a good, trustworthy broker make sure they are regulated so you are safe. If you are looking for good brokers you can visit my binary options broker review page.
The last thing you should know about a binary options broker would be their withdrawals protocol. How long does it take for your withdraw to be executed and what methods of withdraw do they offer? In addition, did they ask you to approve your account before any withdrawals are made? These are all important aspects to cover when looking over a broker to join. Reputable brokers oftentimes ask you to approve your account which isn’t necessarily a bad thing, it is more of a good thing because it shows you they are concerned about their users and want to make sure no fraud is performed. Also, when performing a withdraw you should receive your funds within 3-7 business days, if the broker you are looking at do not offer your withdraw within that time frame then it is probably safer for you to look at a different broker.
So there you have it, four important aspects to consider when trying to get to know a broker. Check out the complete list of recommended brokers on the BinaryoptionsChannel.com