Reliability of a binary options broker

When putting together our list of the best binary options brokers we had to first decide how will we evaluate brokers.

We set several basic criteria that we are looking at when judging a broker.

Withdrawals

This is really the most important thing about any broker. If you cannot withdraw your money, nothing else matters and you cannot trade binary options. A good broker will proceed withdrawals fast. It can take a few days but you always have to get your money.

When your broker starts to delay your withdrawals, it is always a bad sign. Dishonest brokers will often present all sort of excuses for not processing your withdrawal. This should really serve as a warning and when your broker starts to make problems with your withdrawal, take your money and stop trading with him. Even when the money is on your trading account, it is your money.

Price manipulation

The second most dangerous thing when trading binary options is price manipulation. Some brokers will add hidden spreads to price, some will directly change the price to make you lose trades. When that happens, you can try to solve it with your broker, but if it continues, take your money and run away from him. For this purpose it is good to check the price feed with another broker so you have a comparison. There can be small differences in price between different brokers, but they would be more or less constant. If the price is being manipulated, you will see sudden changes when you are trading.

Trading platform stability

Another thing that can make your trading life difficult is the trading platform. If it is not stable, if it has frequent downtimes or other problems, it will have a negative impact on your trading results. From time to time every broker has problems with its platform, but it mustn’t happen too often.

Support

Finally your binary options broker has to always be here to support you and answer your questions. If it is difficult to join your account manager, if he is not responding to your emails, then it can be a warning that something is wrong. You can ask your broker for another manager and it can be a solution. If it doesn’t help and you feel left behind, it is better to change your broker.

So these are the main criteria based on which we test and evaluate brokers. Those who are in our list of the best binary options brokers comply.

3 thoughts on “Reliability of a binary options broker

  1. Lets all get this straight shall we now, and I have already blogged about this problem for several years.
    BINARY OPTIONS ARE NOT INVESTING: THEY ARE GAMBLING PURE AND SIMPLE.
    I am an experienced Options Investor and have invested in Options trading for very many years. No matter what people will tell you professional Options trading is a genuine way of earning money using what are called derivatives. They are a very useful way to provide buyers when the stock market needs them to stabilize prices of stocks and shares. They are fully controllable by the investor who deals in them and can be very profitable if handled with good background knowledge of what you are doing. If you think you are losing on an Option trade you can pull out early and save most of your investment.
    With Binary (so called) Options, you have no control over your GUESS when you make it and you can only watch for the result. It is like watching for the result in a Casino when the needle has been spun and the result is pure chance. As long as you understand this it is up to you whether you want to play the casino like this but don’t be misled by the word options here as these plays are not investing. You cannot pull out and save your money. Full stop.
    many people have been misled by this gambling technique and have lost a lot of money. Please don’t confuse gambling with investing.

    1. Not true, serious binary options brokers let you end your trades any time. And since you are trading the same underlying assets as with options, it is not gambling.

Leave a Reply

Your email address will not be published. Required fields are marked *