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Best Binary Options Brokers 2015
Before you can trade with binary options you have to pay attention what broker you choose. Yes, it’s true that there are plenty of them and there’s a wide range of brokers to choose from. But that does not mean that you can trade with any broker you want. Quite the contrary, you should be very careful what broker you decide for. Here are a few deciding factors:
Imagine a binary options broker pays 50% for options in the money and 0% for options out of the money. Is it possible to trade profitably with this broker? Certainly not! It’s a fact that you can’t be right with all your trades. All you need to do is having more options expire in the money than out of the money. When you have 70% of your options in the money and 30% out of the money you will be able to make solid profits. But not when a brokers payout is as bad as 50% and 0%. Then you can’t trade profitably or just break even with a great performance. That’s not what binary options trading is all about. Generally you should select a broker with the highest payout but do not so without considering other important factors.
Mobile trading options
We all love our mobile devices and the ability to be able to trade from anywhere without having to sit in front of a computer is the stuff of dreams. Fortunately, binary options platforms are at the forefront of mobile trading and they have invested a lot of money in making the mobile experience of their customers equal, if not better, than the web-based option. Choosing a broker will depend on the device that you want to trade from but almost all decent platforms offer smartphone and tablet applications to log in from any location.
However much you know, or don’t know, about binary options, all good platforms offer comprehensive training material. This ranges from the very basics of how to being trading binary options (which can be learnt in a matter of minutes!) to advance webinars and analysis of tomorrows market movements. Free videos, e-books and direct web-chat functions allow traders to get all the information that they need to get going.
This is something a broker with a very high payout ratio can’t offer. Imagine a broker that barely makes money with its traders. How can he finance a good customer support? A broker with a decent or slightly worse payout ratio can. There’s a trade-off between high payout and good customer support. And that’s what binary options trading is all about: Making trade-offs like that. You can’t have everything with one broker and it’s not all black and white. A good customer support is vital because you sometimes need help – not all the time but sometimes. And when you don’t get help or only poor help it will hurt. Imagine there’s a software bug and your option that was well in the money suddenly disappears. This can happen. Don’t you want a great customer support that is immediately available through live chat in this case? I do!
This is another trade-off. A good trading platform costs money. Period. A broker either licenses a certain platform or develops it on its own. There are very good platforms you can license but they cost money. It’s also possible to develop an excellent trading platform but this is even more expensive. It’s hard for a broker to have very high payouts and still have an excellent platform. Having said this, competition is on our side and the fierce competition between platforms means that those which are not up to standard have thankfully disappeared. Traders now need to choose from the features that a platform offers which can include tools such as weekend trading, touch, range and 60 second binary options. These are all features which can help traders to become profitable and, depending on the type of binary options trader that you are, will determine which platform features you need to become profitable.