Binary Option Trading might be the riskiest, highest ROI investment and trading option available online today. If you are looking to make a huge profit quickly it CAN be done with these instruments. However, there are just as many people losing money as those creating wealth. It’s important you start of the right way to increase your chances for sustainable profits.
Anytime a high return investment opportunity develops there are always sharks circling the business looking for a way to make a fast buck off unsuspecting newbies.
First, Binary Option Trading is NOT for everyone. This is for a disciplined trader/investor who understand smart money management, doesn’t get overly emotional when trading (winning or losing), and treats their activities like a business.
The Forex market was (and is) one of the most volatile and profitable ways to trade online. The advantage of having the foreign currencies trade 24/7 is also a great advantage.
Binary Options takes this one step further. Binary Option trading is basically creating option on Forex trades. You can get tremendous percentage wins, or get wiped out. And the real beauty of options trading is that some brokers allow 60 second option trades. No worrying all night what your spread will open up at in the morning. 60 seconds, win or lose.
HERE’S THE CATCH!
To trade binary options you MUST use a broker. And, as we said above, there are some things you need to watch out for when selecting a options broker to execute your trades and hold you money. Ignore these 5 important steps at your own peril! (click here to see our current highest rated company…)
Here’s You Checklist To Improve Your Chances Of Choosing A Good Brokerage
#1; Help And Education:
They should provide an excellent training program. The more information and training you can digest before you risk your hard earned money, the better. Don’t make a deposit to open an account with a broker that doesn’t provide helpful, updated resources for you to become a better trader. There should also be a free demo account available so you can get used to the technical aspects of trading before you risk your money live.
#2; Regulations an Geography:
This industry is not heavily regulated. There are jurisdictions that do not permit binary option companies to establish themselves there. For example, there is/was a broker who claims to be in the USA. In fact, they are running out of Israel. If a broker says they are US or UK based, they aren’t being transparent. At this time, the most regulated country that accepts binary option brokers is Cyprus. Look for brokers who are under regulatory scrutiny from Cyprus
#3) Who’s Holding Your Money?
In many cases your deposit is simply accumulated within the brokerage account. If there are no regulations in that jurisdiction you can lose all your deposits, and your profits. Some (very few) have your money insured by a third party such as Lloyds of London or other highly rated insurance institutes. Make sure your deposits are safe!
#4) Trading Platform:
There are a number of various trading platforms and technology used in the binary option and forex broker business. Some are untested and some are established. A platform that has been around for a few years will tend to have most of the bugs ironed out. Brand new technology has a habit of breaking on your right when you hit the “execute” button. Also, most of the option brokerages who are using stable platforms will offer you a much wider range of trading
instruments and time schedules then the brand new spanking software. We recommend you find a broker with a lot of trading options and a well known platform. Ask, “Do they offer 60 second trades, One touch mobile trades, long term trades, and a large basket of assets to choose from?”
#5) Age and Reputation:
Unfortunately, there have been some very slick marketing promotions of new brokers who offer the world, say they will provide everything and the moon, get a ton of people to open accounts and start trading, and then close up shop without paying out profits, earnings and initial deposits. You need to find a company that has been in business for a while, has an online reputation, and is easy to contact by phone, chat and email. Risking your deposit to a fly-by-
night upstart is not a first smart step in trying to profit from binary option trading.
There are many brokers who don’t have 2 or 3 of the above 5 points. Run away from them as fast as you can!
The are a few that have 3/5 or 4/5
Our best recommendation (at the moment) is a business option brokerage that has 5/5.
The Team at Boptnews.com
ps. and if you are really looking for high risk/high reward trading, how about binary option trading where you can using Bitcoin as an tradable asset. Here’s a link to a brokerage that is promoting that idea.