Usually in such ratings and lists it is recommended “good” or even “the best” brokers of binary options. And everyone wants to look for some kind of illusory reliability, it is clear. Companies are different, there are top-level, but there are not very. Conditions change frequently and marketing strategy also changes. Relationships to traders change (both for the better and for the worse), anything may happen.
In this case the approach is different. The site indicates only those companies where colleagues in trading and I work. Where we see through the essence of this deal, also we make acquaintances with some owners (that helps a lot).
Is it warranty of success? – No, it isn’t. There are always some risks in all markets. I had a case that the company from my list was closed (although with the payment of funds on deposits), also you should consider non-trading risks.
Consider that this “rating” is a subjective reflection of the market. On the picture there are just those companies that are interesting to my friends and me personally. It does not mean that other traders should work with them.
On the whole, there are no ideal companies, but there are some good ones. Just choose a specific option at your discretion.
Are there reliable binary options brokers and how to determine it? As you know, binary options are not real trades on the stock exchange. They are an internal small game. Successful people take money of losers. For example, the Chicago Mercantile Exchange (CME Group), where they trade these options, was founded in 1874. It is understandable that the question about reliability does not arise in this case.
Binary betting is like sports betting, only on financial assets. The companies are mostly offshore, and I don’t want to give money to the sweaty mulatto.
Whom should I solve problems with? And if the money is not paid, what should I do? Where to complain? Therefore, the question of what is the best broker is no less important than strategy or technical analysis.
This year was calm enough. Binary powerfully increased transaction and launched ICO, WForex quietly seduced with discount. Alpari released a beta version of the new platform and did not make anything special (however, consistency in this market is a good feature). Olimptrade makes less advertising, but extremely dislikes the news trading (don’t enter in trade after strong news). Binomo is a kind of twin brother of Olymp, although the platform of the first one is more attractive. Well, IQ Option just broke off the entire market and they released the OTN token, which grew almost at 20 times in a month (and then just came down, ha ha; typical crypto history).
The binary options market is a living organism that is constantly changing. These changes can be both positive and negative.
And to judge the reliability of a broker can only being online, because the question of what is the most honest broker of binary options will be relevant all the time.
There are 4 key criteria by which we can evaluate any broker, namely:
- platform (interface and speed);
Each of these criteria should receive an independent assessment. And because of it the problems begin. Let’s say I registered with a broker more than a year and a half ago. I worked with him, assessed according to these criteria and was satisfied.
Can a broker be recommended? Yes? However, time is ticking and after some time you give some brokers more preference than others. Someone may have a deposit that “hangs” for several months. Or you have already withdrawn a deposit for a long time and do not work with it at all.
With the help of the reader’s feedback it suddenly turns out that the broker works worse. For example, he started to slow down or managers endure brains and these facts were not before (policy of promotion has changed) or then payments pass badly.
But the broker is on the list. Many consider it is a true recommendation. But such a “recommendation” is only about memory of him. If you do not work with him, what can you say about him at all? How can you quickly track his work?
Also there is no reason why you should trust the friend’s point of view. They can go to other platforms a long time ago, and when you ask about a broker, they give out only memories: “Oh yes, well, he was a nice guy.” It is a fundamental difference. So if you are at the platform and work with it you know everything about it and it does not matter what kind of advertising they have.
There is another important test for evaluating the work of a broker. I have already spoken about managers of brokers. So, we will not repeat.
When you have been registered with a broker for a long time, you communicate with managers only at the beginning, after you just work and do not connect with them.
So, I have no idea how they work with beginners. But you should give me some information about it. With the help of it I will learn a lot of interesting things about the behavior of managers of various brokers. I need your help. Thanks to your stories and screenshots.
In this case, it is desirable to confirm the evidence. So, do not be lazy and take screenshots of correspondence and record conversations if it is necessary (on many smart phones it is done with one touch).
It is the last but probably the most important criterion. Does the broker pay? It would seem that I have to pay, but … brokers, especially unregulated ones, have a lot of tricks in their pockets.
You remember, is it true that binary options are betting on financial quotes? We are against the dealer, unlike the stock exchange, where a broker is an intermediary between you and the exchange (CME or CBOE).
Therefore, unscrupulous companies (and there are enough of them) can use various tricks. More about them is described in the School of BO. In brief:
- bonuses and risk-free transactions (money will not give back until you make a turnover on them from 25 times);
- the payment may be delayed, intentionally or due to the allegedly poorly functioning accounts;
- payments are made with the third company, which may allegedly “slow down”;
- payments only after “approval” by the manager
It is solved as usual – work with reliable, conscientious offices that fulfill their obligations to clients. Fortunately, filtering such ones is not difficult at all, and the result of such filtering is presented on this page.
So, the picture for the 2018th year is as follows:
- leaders of the binary market have firmly and permanently occupied their top;
- regulators tried and hundreds of black Israeli firms were removed from the market;
- however, unlicensed gray offices are still missing;
- fundamentally new models of BO (such as classic and digital contracts) are being introduced;
- binary options of the new generation are at hand (P2P).The conflict of interests is completely removed and trading is carried out on Ethereum smart contracts (we will talk about this later when the beta version comes out).
Benefits: the binary market is seriously cleared and unscrupulous, frantic offices are already far less than a couple of years ago. Defects: in the EU, instead of regulating the market, they decided to work in the tone of isolationism, it is a colossal nonsense. All traders banally went to offshore companies and they scorn the European commissioners and their rules.
So the binary options continue their market experience in along the rake or a quite smooth path. Well, we will continue to monitor the situation in these markets, because there is the mass of interesting.