Binary Options Exposed for You
January 27, 2014
It is not disputed that the number of Forex trading frauds has been on the rise steadily for the past few years. Moreover, it’s not just the beginners who fall prey to these scams; its victims include even the most experienced of investors. It may not be possible to entirely avoid binary options cheats, but here are some tips so you can maximize your profits and minimize risks.
Selecting a Reliable Broker
One can never exercise too much caution in the choice of one’s broker. You should be certain that your broker is reliable before investing your hard-earned money. Therefore, it’s important to carry out background checks before finally selecting your online broker. For this, you can use customer reviews available online for the broker in question or alternatively you can use the services of websites and forums that rate binary brokers on the basis of a number of important criteria such as asset coverage, minimal response times, availability of a large number of Forex pairs, helpful customer support, and so on.
Binary Options Exposed
A very common complaint by investors is that they have been cheated by their brokers even though in many cases, they’re merely victims of a volatile market. This often lends a number of very legitimate traders a bad name through no fault of their own.
The best online traders spend months if not years studying and analyzing the market variables and technical charts. Often investors make mistakes and lose money on account of their relative inexperience and ineptitude as a consequence of which they end up believing that they’ve been scammed by their brokers. However, as reiterated before, binary trading is not a get-rich quick scheme by any stretch of the imagination. It requires hard work and months of technical analysis in addition to a acquiring a reliable broker. Selecting a reliable broker does not necessarily guarantee profitable trades in itself and its high time investors realize this.
Available Binary Options
There are a number of very highly rated online binary brokers as indicated by user reviews as well as numerous other websites and forums. It’s important to read user reviews of a binary broker on trading forums and other websites in addition to the official website to form a reasoned opinion about a broker.
The most favorably rated online binary brokers include Lionive, BancDeBinary, 24option, NRGbinary, PowerOption, CapitalOption, MarketOption, CedarFinance and many others. It’s important to note that this list is neither conclusive nor exhaustive but merely lists out some of the more reliable binary brokers in operation today based on a collection of customer reviews collected from the internet.
Online binary brokers are usually rated by websites and their customers based on certain criterion as mentioned previously. A decent broker should ideally offer a higher bonus, a low minimum deposit amount, and a very high percentage of maximum returns in addition to offering other equally important facilities such as a rapid response time, availability of many forex pairs, and exceptional customer support. In this context, it may be relevant to note that all the above mentioned online brokers offer a bonus between 25%-100%, a minimum deposit in the range of $100-$200, a maximum return in the range of 81-88%. It may be equally relevant to note that customer reviews of these binary brokers tended to compliment their rapid response time and customer support.
If you were expecting a binary options exposed scenario then you might be in for a disappointment. There is indeed no gold standard to determine what would constitute the ideal online broker. There only exists a broad set of guidelines to help gain a better understanding of how binary brokers work so you can select the one you need.