Anyone who has any type of trading account uses the services of a broker, regardless to whether you’re trading Forex, Traditional shares or binary options your trading is always conducted by a third parry company, thus a broker or a brokerage company. Brokerage firms are in charge of connecting a buyer and a seller and making the sale happen. Conservative brokerage firms make their profit by a standard while Forex and Binary options brokers make their living by taking your unsuccessful trades to the house.
While Both Forex and binary brokers have been regulated in the past few years there are still some brokers who operate freely and can manipulate trading results in order to slowly eat your hard earned profits. We have found some honorable brokers available and recommended by whatsbinaryoptions.com binary options portal. Yet why are these brokers recommended?
Examining these brokers was done by the whatsbinaryoptions.com’s team according to some very basic guidelines:
Brokers platform and ease of use
Novice and experience traders are interested in a safe and easy to use trading platform, this is one of the key factors to success in binary and Forex trading. While both fields use similar platforms, when trading binaries the platform is a little more high techy and is web based so no downloading is requires. When testing these brokers platforms the team puts many points to the innovativeness and intuitively use of the platform. The best platforms are mastered by new traders within minutes. Brokers who pay attention to details are more likely to stick around as they have invested months in developing a better trading arena and are fully customer oriented.
Types of trading
When trading Forex most traders use the same currency pairs and enjoy different levels of leverage provided by their online forex broker. When trading binary options traders can choose from more than four types of options:
Turbo trading
Trading at top speed of 30 seconds and up to five minutes. This type of binary trading brings a trading thrill which can only be reached on gambling sites, your trade is determined within is seconds from initial position and profits reach to high levels of 85% in less than one minute.
Classic high/low options
these options work on a prediction of above or below current price bid, a traders doesn’t have to point at a specific price and all that’s needed in order to stay in the money is to predict the right price movement up or down. Profit get up to 95% and are traded in time frames of 15 minutes and more.
Boundary options
traders predict a certain price range which the traded asset will be traded at, a correct prediction can provide high profits. You can trade in boundary or out boundary options, above, below or between two ranges.
Touch/No Touch options
also known as high yield options, this type of trading is the most Ludacris one provided by the binary industry. A correct prediction of one touch options will generate profits which can reach up to 500%. Prediction are conducted by opening a position on a specific price point which if reached will end the trade in the money.
So whether your into Forex or Binary trading, its bets to checkout your brokers prior to actually trading.