When you decide that you want to trade binary options, one of the key choices you have to make is selecting the right broker. Because the binary options industry is still relatively new, there are a lot of dangers on the brokers‘ side.
Regulation of binary options brokers is just beginning so you can expect a environment that is not as safe as in the futures industry for example. But let’s not forget that regulation doesn’t mean guarantees, as have shown recent failures of Peregrine Financial and MF Global.
Therefore you should not walk away from binary options trading just because of the lack of regulation, you just have to be cautions when choosing your binary option broker.
The best way of choosing a broker has always been evaluation of other traders‘ experience. It is not always easy, but we are doing that regularly. We frequently read different discussion boards related to binary options to find reliable brokers.
What is a reliable binary options broker? There are two main areas in which a broker can influence results of your trading. The first is price manipulation. Unfortunately as it is the case in the Forex industry, many brokers manipulate the price and create big spreads so that you lose your trades.
The second area is communication a withdrawals. Many binary options brokers try to ignore their clients‘ withdrawal requests a don’t communicate. So even if you make money, you cannot get it to your bank account.
A reliable broker is a broker that does not these things. No spreads, no price manipulation and withdrawals without problems. That is what you have to aim for. We cannot stress enough how important it is to avoid bad brokers. You can lose all your money if you choose the wrong one.
If you start to trade with a binary options no deposit bonus, you risk nothing, because you don’t trade your money.
But when you open a regular binary options account, you really have to be sure that you are with a reliable broker. In this regard we want to help our readers, that is why we have a regularly updated list of best binary options brokers that have the best reputation in this industry. These are brokers that traders from all over the world are the most satisfied with.