Depending on your preferences and how much money you are planning to invest, nowadays, you can make a choice between vast variety of binary options brokers. The downside of this is that not every of them is trustworthy and reliable and traders are often faced with scams and false brokers which only want to take their money away. If you want to be sure that you have chosen the right binary options broker, that suits your needs, then you should follow our guide.
Do the research before you start
You may think that choosing a right broker is an easy task, how hard it can be to search the Google and select the first broker that crosses your path. But, this is not the best way, first of all, not all of them are legit, and soon you will lose all your money while investing with a shady broker. Selecting a reliable broker can make a huge difference between earning money and losing money.
Different types of assets
All binary options brokers offer different assets; you can choose between commodities, stocks, and currencies. Before you start with a trading, it is a crucial to choose the asset you intend to trade. Almost any broker has an asset index on their website, so you can decide which one is the right for you and get more information.
The most popular trading option are call and put, boundary option and one touch, though some of them even offer 60 – Second options. The basic idea here is to predict the movement of a price before the option expires. If you choose the one which will suit your needs the best, you can significantly reduce the risk of losing the money, or on the other hand, increase your profit.
Binary options brokers 15 minutes, 30 minutes, 1 hour, 24 hours and one-week option expiry. Some of the even have 60 seconds. Depending on your experience, it is best to use 30 minutes of 1 hour because you have a high chance to earn money with these options. If you select the options that have a shorter expiry time, your winning is not guaranteed, and mostly they are intended for advanced users.
For beginners, we recommend to use binary options robots, and the most popular one is HBSwiss. You can check out the HBSwiss review at top10binarydemo.com.