Choosing Binary Options Platform
Binary option trading offers traders a way to trade the world’s financial markets. It is important that traders choose the right binary option platform to execute their trades on as their decision can have a big influence on their overall trading success.
When researching a binary option platform, it is important to look at 6 fundamental elements –
- Always choose a binary option platform which offers minimum 70 percent return rates on successful trades. The higher the percentage returns often the better it will be for the trader, IQ Option for example offers payout rates of up to 91% for a successful investment. As the payout can be determined before the trade, a traders can understand their return and loss rate ahead of placing a binary option trade and make a choice accordingly.
- A binary trading platform should have a wide variety of assets. Many binary options systems offer a range of assets to trade binary options on including stocks, commodities, currency pairs, forex, market indices, gold, silver, oil – WTI crude oil, Brent oil, and even Bitcoin. Stocks and market indices, in particular, should be offered across a range of global markets and industries. Having a large variety of assets will offer binary option traders more choice and allow them to select different assets as they develop their binary trading strategy.
- A binary option platform should offer flexibility in trade execution. Not only should it provide this in the range of assets it offers on the platform, but it also should do this by allowing traders to execute binary options across a wide range of expiration times. Choose a binary option platform that has a range of expiry times that will suit your trading style. Currently some binary platforms have expiry times from as quick as 30 seconds, 60 seconds and 1 minute out to weekly binary options and time frames in-between.
- The binary option platform should also provide traders with alternatives for trading on the go. With the world getting more and more mobile every year, the leading binary trading systems are those that have developed mobile trading platforms so their traders can manage their trades from the convenience of their mobile devices such as iPads, tablets and smartphones. Up to 40% of all binary option trades are executed on mobile devices. All the brokers reviewed on this site have mobile compatible platforms for trading on the go.
- No trader should underestimate the importance of good customer support. All traders no matter of the are a beginning binary option trading or are an experienced binary option trader will have questions or need to use binary option customer support at some point. The best binary options platforms have multiple support options including an online chat facility. All the Binary Options brokers we have tested here offer multiple language options making it easy for those based in Singapore.
- Always choose a binary trading platform that offers multiple and quick funding options. Given trading opportunities can often present themselves in a matter minutes it is important that traders can fund their account quickly and safely. No trader wants to see a trade pass them by due to not being able to fund their account in a timely manner. Look for a binary option platform with funding options such as Visa, Mastercard and Skrill!
By taking the time to consider the 6 factors above, you can select the right binary options platform to meet your needs. Click here to review the best binary option brokers for investors from Singapore.
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